Platinum SIF by Mirae Asset Mutual Fund has launched its first specialized investment fund Platinum Hybrid Long-Short Fund.
Neelesh Surana, CIO, Mirae Asset MF, said, “The SIF provides investors access to specialized strategies alongside the safety and transparency of mutual fund. The fund shall seek to provide higher flexibility in strategy and allocation across debt, equity & derivatives instruments.”
A Mirae Asset press release said that the fund will achieve stability through debt & arbitrage, yield enhancement through collar strategy & special situations. The fund is positioned to deliver risk-adjusted returns across market phases.
Gaurik Shah, SVP – Equity Investments at Mirae Asset will manage the fund. Shah has nearly two decades of experience across public markets and alternative strategies, specializing in quantitative investing, market neutral frameworks, and derivative driven portfolio design.
He said that Platinum Hybrid Long-Short Fund will have controlled equity exposure between 5-70% that includes collar strategy and special situations, fully hedged exposure through arbitrage in the range of 5-70% and high-quality accrual debt exposure in the range of 25-35%.
“The three-tiered structure not just makes it agile but also provides relatively lower drawdowns vs hybrid funds with unhedged directional equity exposure”, added Shah.
The fund has an exit load of 1% if redeemed within 90 days of allotment, while there is no exit load for any redemption after 90 days.
Like what you are reading?
development, success stories and industry updates.
Don’t worry … it’s FREE!