SBI MF enters SIF space with new offerings under 'Magnum' brand name: Dy MD

SBI Mutual Fund (MF), the largest fund house in India, is entering the specialized investment fund (SIF) space under the 'Magnum' brand. The fund house recently received a license and is exploring products in both equity and hybrid categories, according to D.P. Singh, Deputy Managing Director and Joint Chief Executive Officer of SBI MF.

The name "Magnum" was chosen due to its existing brand association, as many of SBI MF's previous schemes carried that name.

SBI MF has appointed Gaurav Mehta to lead its SIF venture. Mehta has served as the Chief Investment Officer – Alternatives (Equity) at SBI Funds Management since October 2021. With this move, SBI becomes the fifth fund house to announce its entry into the SIF segment, following Edelweiss, ITI, Mirae Asset, and Quant, all of which have secured licenses. Additionally, other players like Axis and Nippon have also expressed plans to enter this space.

Most fund houses planning to launch SIFs are relying on their existing fund management teams.

SIFs represent a new product segment within the mutual fund framework that offers fund managers greater flexibility in terms of investment strategies. These funds, which have a minimum investment ticket size of ₹10 lakh, can be structured as equity, debt, or hybrid funds.​