Invesco MF Files for First SIF: Summit Equity Long-Short Fund

• Invesco Mutual Fund has filed draft documents with SEBI for its Summit Equity Long-Short Fund, the first under its Specialized Investment Fund (SIF) platform.
• The open-ended fund aims for long-term capital appreciation by investing in listed equities and equity-related instruments, with limited short exposure via derivatives.
• It will invest 80-100% in equities, with unhedged short exposure capped at 25% through derivatives, benchmarked against the Nifty 100 Total Return Index (TRI).
• Managed by Hiten Jain, Deepak Gupta, and Manish Kalani (subject to approval), the fund offers daily subscription/redemption with a 0.5% exit load for redemptions within three months.
• SIFs are new SEBI-introduced products bridging mutual funds and PMS, requiring a minimum Rs 10 lakh investment and offering fund managers greater flexibility.

Why It Matters: Invesco MF launches its first SIF, the Summit Equity Long-Short Fund, offering a new investment strategy.