Mirae Asset Platinum Hybrid Long-Short Fund: Can SIFs beat traditional hybrid funds?

Mirae Asset Mutual Fund on Tuesday announced the launch of the Platinum Hybrid Long-Short Fund under its newly introduced Platinum SIF platform, as India’s emerging Specialised Investment Fund (SIF) category continues to witness strong investor traction and rapid asset growth.

NFO details

The New Fund Offer (NFO) for the fund will open for subscription from May 20 to June 3, 2026. The product is structured as an interval investment strategy investing across equity, debt and derivative instruments, including limited short exposure through derivatives. Mirae Asset said the strategy is designed to generate relatively stable and risk-adjusted returns over a 1–2 year period while offering lower drawdowns compared to traditional hybrid funds with unhedged directional equity exposure.

SIF segment

The launch comes at a time when investor interest in the SIF category is rising sharply. According to a ValueMetrics Technologies report based on AMFI data as of April 30, 2026, total assets under management (AUM) in SIFs surged to ₹12,329 crore in April from just ₹2,010 crore in October 2025, indicating rapid adoption of the newly created investment category.

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Hybrid long-short strategies have emerged as the dominant segment within SIFs, accounting for nearly 74% of total category assets at ₹9,155 crore. Equity-oriented strategies managed the remaining ₹3,174 crore, or around 26% of overall assets. The data also showed steady growth in investor participation, with total folios touching 50,096 by April-end. Hybrid strategies accounted for 27,389 folios, while equity-oriented products had 22,707 folios.

Industry observers believe the category is attracting affluent investors looking for alternatives between conventional mutual funds and Alternative Investment Funds (AIFs). The average folio size in SIFs stood at ₹24.6 lakh, while active asset allocator long-short funds reported average folio sizes as high as ₹47.5 lakh. Monthly net inflows into the category stood at ₹1,219 crore in April.

What's different

SEBI introduced the SIF category to bridge the gap between traditional mutual funds and sophisticated AIF products. The structure allows fund houses greater flexibility in using derivatives, hedging strategies and specialised investment approaches while still operating under the regulatory oversight and transparency standards applicable to mutual funds. The minimum investment amount in SIFs is ₹10 lakh at the PAN level across all strategies offered under the platform.

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About the fund

Mirae Asset said its Platinum Hybrid Long-Short Fund will use a flexible allocation strategy combining arbitrage opportunities, protected derivative positions and high-quality accrual debt exposure to manage downside risk and enhance yields. The strategy will maintain controlled equity exposure ranging between 5% and 70%, fully hedged arbitrage exposure in a similar range, and debt allocation of 25% to 35%.

Neelesh Surana, CIO at Mirae Asset Investment Managers (India), said the SIF structure gives investors access to specialised investment strategies alongside the transparency and safeguards associated with mutual funds. He added that the fund would dynamically allocate across debt, equity and derivative instruments depending on market opportunities.

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The fund will be managed by Gaurik Shah, SVP – Equity Investments, who specialises in quantitative investing and derivative-driven portfolio strategies. According to the company, the three-tiered structure of the fund is aimed at delivering more stable outcomes across market cycles while limiting downside volatility.

With investors increasingly seeking tax-efficient products offering downside protection and alternative return strategies, the rapid expansion of the SIF category is emerging as one of the key trends within India’s evolving investment landscape.