What is Altiva Hybrid Long-Short Fund, Edelweiss Mutual Fund's first SIF scheme? Key points

Altiva SIF by Edelweiss Mutual Fund has filed draft papers for Altiva Hybrid Long-Short Fund with the Securities and Exchange Board of India (SEBI).

The Altiva Hybrid Long-Short Fund is a hybrid long-short interval strategy investing both in equity and debt securities. It will also offer limited derivative exposure to balance growth and risk.

Let’s look at key points you need to know about the Altiva Hybrid Long-Short Fund:

What is Altiva Long Short SIF?

Radhika Gupta, CEO of Edelweiss Mutual Fund, said in a social media post on X, “Delighted that @EdelweissMF will be launching India's first hybrid SIF, under the name Altiva Long Short SIF, very shortly. Over the last few months, we have been having exciting conversations with investors and partners about the category, and now look forward to bringing a solution to the market. Lots more information coming soon!”

In May this year, Edelweiss announced the launch of Altiva SIF, its Specialized Investment Funds (SIFs) business offering differentiated investment solutions across equity, hybrid and fixed income categories to various types of investors.

Altiva Hybrid Long-Short Fund: Investment objective

The objective of the scheme is to generate capital appreciation through equities and income through arbitrage, derivative strategies, special situations and fixed-income investments. However, the fund does not assure or guarantee the achievement of the objective.

Benchmark

The performance of the fund will be benchmarked against the NIFTY 50 Hybrid Composite Debt 15:85 Index. This is chosen to align with the blend of equity and fixed-income exposure. It will be managed by Bhavesh Jain, Bharat Lahoti, Dhawal Dalal and Amit Vora.

Liquidity and redemption

Direct redemption or switch facility will be available twice a week, on every Monday and Wednesday. The fund will be listed on the NSE for demat investors.

Plan and options

The fund will be available in regular and direct plans, each offering growth and Income Distribution cum Capital Withdrawal (IDCW) options. The default option would be the growth plan.

Altiva Hybrid Long-Short Fund: Minimum investment

• General investors: ₹10 lakh and in multiples of ₹1 thereafter
• Accredited investors: ₹1 lakh and in multiples of ₹1 thereafter
• SIP/STP/SWP: ₹10,000 each and in multiples of ₹1 thereafter

Exit load

The exit load under the scheme would be 0.5% if redeemed within 180 days. After 180 days, no exit load would be applicable.

NAV disclosure

First NAV would be disclosed within 5 business days of allotment, and will be updated daily on Edelweiss AMC and AMFI websites.

What is a SIF?

Specialized investment funds (SIFs) offer high-risk, high-reward opportunities to investors by investing in niche segments of the market. They’re designed to provide investing strategies beyond traditional mutual funds. SIFs offer expert management and a regulated structure for investors to access specific investment themes and potentially generate higher returns.