Invesco Mutual Fund files draft documents for first SIF - Summit Equity Long-Short Fund

The fund is proposed to be managed by Hiten Jain, Deepak Gupta, and Manish Kalani, subject to regulatory approval.

• Invesco files draft for Summit Equity Long-Short Fund under SIF platform
• Fund aims for long-term gains via equity and limited short derivative exposure
• Minimum investment set at Rs 10 lakh with daily subscription and redemption

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Invesco Mutual Fund has filed the draft Scheme Information Document (SID) with the Securities and Exchange Board of India (SEBI) for its proposed Summit Equity Long-Short Fund, marking the first investment strategy under its Specialized Investment Fund (SIF) platform

The proposed open-ended equity long-short strategy aims to generate long-term capital appreciation by investing primarily in listed equities and equity-related instruments, while taking limited short exposure through derivative instruments. The fund, once approved, will seek to combine directional equity positions with tactical short positions to deliver risk-adjusted returns across market cycles.

As per the draft SID, the fund will invest 80–100% of its net assets in equity and equity-related instruments under normal market conditions, with unhedged short exposure capped at 25% through derivatives. The benchmark for the proposed strategy is the Nifty 100 Total Return Index (TRI).

The fund is proposed to be managed by Hiten Jain, Deepak Gupta, and Manish Kalani, subject to regulatory approval. The scheme will offer daily subscription and redemption at applicable NAV once launched, with no entry load and a 0.5% exit load for redemptions within three months.

SIFs are a new class of investment products introduced by SEBI to bridge the gap between traditional mutual funds and portfolio management services. These funds are open to investors committing a minimum investment of Rs 10 lakh and offer fund managers greater flexibility in portfolio construction, while retaining regulatory oversight and investor protection.

At present, SEBI has permitted seven investment strategies across equity, debt and hybrid asset classes under the SIF framework. Each strategy is launched as a scheme under the SIF, with disclosures made through an Investment Strategy Information Document (ISID).