'Our SIF is a fixed-income-plus solution with liquidity'

Model-driven vs human-led portfolios?

We are fundamentally driven by an active investment philosophy, led by experienced fund managers. While we’ve introduced model-driven products, these are overseen by fund managers to ensure strategic alignment and responsiveness to market conditions. This active style will remain central, with fund managers validating models and making tactical calls. Their expertise is instrumental in managing strategies and in designing and deploying robust investment models.

Early SIF launch: Aim and strategy?

The specialised investment fund (SIF) category bridges mutual funds and PMS (portfolio management service), with features akin to AIFs (alternative investment funds)—particularly in derivatives and hedging. SEBI allows seven fund types across equity, fixed income and hybrid categories. We’re entering SIFs with the launch of the Magnum Hybrid Long Short Fund, which uses derivatives primarily for hedging. It suits investors looking to deploy cash for extended periods.

We’ve identified fixed-income investors—especially corporates and family offices—affected by post-March 2023 tax changes. This “fixed-income plus” solution blends tax efficiency, liquidity and execution ease—making it an imperative component of conservative, aggressive, income-generating, wealth-creating and even ‘wait and watch’ portfolios.

On low-friction investing and investor churn.

Investor behaviour on our assistive digital platforms has not seen any major shift. But churn is slightly higher on non-assisted, direct-only digital platforms—where limited guidance can make investors react more during periods of market volatility.

We’re addressing this through investor education and ecosystem partnerships via webinars, educational content and targeted campaigns to reinforce discipline. These efforts aim to provide the reassurance that pure digital platforms sometimes lack, helping investors stay invested with greater confidence.

Rapid-fire questions

• One AMC you admire (not yours): Amundi.
• One hot trend you’re glad to have skipped for your investors: Niche themes such as defence and travel.
• One fund manager, past or present, you would love to have on your team: We are fully aligned with and believe in the capabilities of our current investment team.
• Beyond returns, one criterion you want investors to judge your AMC on: Trust, consistency of process, strong governance and being a one-stop investment solutions provider. 
• If not running an AMC, what would you be doing? Banking.

This article was originally published on October 27, 2025.