Magnum Hybrid Long Short Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?
- September 18, 2026
- Posted by: Chaitanya Auti
- Category: Mutual Funds
Magnum Hybrid Long Short Fund Direct Growth Plan is priced at ₹10.4865 as of 17 Sep 2026, with scheme assets of ₹4,001 Cr. Its 1-year, 3-year and 5-year returns are 0%, 0% and 0%, and the risk label is Low Risk. Our view is that this is best read as a stability-first hybrid-style option rather than a return-led one; the benchmark has been more volatile over the recent periods, but the fund itself has also not yet built a meaningful trailing track record.
For investors, the main takeaway is that the fund currently looks more suited to conservative capital-preservation needs than to aggressive growth expectations. The portfolio has a meaningful cash and debt presence alongside banks and select equity-linked exposures, which may help explain the lower-volatility profile.
Quick facts
| Particular | Details |
|---|---|
| NAV | ₹10.4865 as of 17 Sep 2026 |
| AUM | ₹4,001 Cr |
| Expense Ratio | 0.0% |
| Launch Date | 23 Oct 2025 |
| Min SIP | ₹10,000 |
| Risk Category | Low Risk |
| Benchmark | Nifty 50 |
| Exit Load | 0.50% on or before 15D, 0.25% after 15D but on on or before 30D, Nil after 30D |
| Fund Managers | Gaurav Mehta |
The fund is managed by Gaurav Mehta.
Source data date: as of 17 Sep 2026
Performance
| Period | Fund return | Benchmark return |
|---|---|---|
| 1M | -0.67% | -3.66% |
| 3M | 0.64% | -3.71% |
| 1Y | 0% | Data not available |
| 3Y | 0% | Data not available |
| 5Y | 0% | Data not available |
Recent performance has been subdued, with the fund slipping by 0.67% over one month before recovering to a 0.64% gain over three months. That pattern suggests the fund has not moved in a straight line, but the swings have been modest rather than dramatic. For a conservative-style scheme, that kind of short-term behaviour may appeal to investors who care more about limiting noise than chasing fast gains.
Against the benchmark, the fund has been more resilient in the very near term. The Nifty 50 was weaker over both 1 month and 3 months, while the fund held close to flat and then edged higher on the 3-month view. That indicates the scheme has not depended on a strong market backdrop to keep pace over the latest window.
The longer horizon is still too short to call a trend with confidence. The 1-year, 3-year and 5-year figures are all 0%, which means the fund does not yet present a mature trailing-return history for comparison. Our view is that investors should read the recent steadiness alongside the limited track record, not as evidence of a proven long-run compounding profile.
In that sense, the fund currently looks more defensive than growth-oriented. The recent numbers are better than the benchmark’s short-term move, but they do not yet establish a strong long-term return story.
Source data date: as of 17 Sep 2026
Should you BUY or HOLD Magnum Hybrid Long Short?
A fund’s past returns alone don’t tell you whether you should buy it today or continue holding it.
The right decision depends on factors such as your current allocation, purchase price, risk profile, investment horizon and the role this fund plays in your overall portfolio.
Already holding Magnum Hybrid Long Short? Thinking of investing now?
Peer comparison
| Fund | 1Y return | 3Y return | 5Y return |
|---|---|---|---|
| Magnum Hybrid Long Short Fund Direct Growth Plan | 0% | 0% | 0% |
| Baroda BNP Paribas Gold ETF FoF Direct Growth Plan | 34.39% | Data not available | Data not available |
| HDFC Innovation Fund Direct Growth Plan | 14.3% | Data not available | Data not available |
| Bajaj Finserv Small Cap Fund Direct Growth Plan | 13.33% | Data not available | Data not available |
| Quant Equity Savings Fund Direct Growth Plan | 8.75% | Data not available | Data not available |
| Kotak Active Momentum Fund Direct Growth Plan | 6.31% | Data not available | Data not available |
This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639.
The current fund’s 1-year figure is far below the listed peer returns, but the comparison is not especially useful as a sign of weakness because the scheme itself has no meaningful trailing performance history yet. The same issue applies to the 3-year and 5-year views: every peer shown here has missing medium-term figures, so there is no direct long-horizon comparison to make from those cells. What does stand out is that the peer group shows meaningful 1-year dispersion, while this fund remains close to flat over the same period.
Source data date: as of 17 Sep 2026
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Portfolio: where your money goes
| Holding | Sector | Weight |
|---|---|---|
| TREPS | Cash & Cash Equivalents and Net Assets | 4.57% |
| Kotak Mahindra Bank Ltd. | Bank | 3.6% |
| ICICI Bank Ltd. | Bank | 3.19% |
| Axis Bank Ltd. | Bank | 2.98% |
| Small Industries Development Bank of India | Corporate Debt | 2.84% |
| Reliance Industries Ltd. | Crude Oil | 2.8% |
| HDFC Bank Ltd. | Bank | 2.75% |
| Bharti Telecom Ltd. | Corporate Debt | 2.71% |
| Raajmarg Infra Investment Trust | Reits & Invits | 2.7% |
| Avenue Supermarts Ltd. | Retailing | 2.44% |
The ten largest disclosed holdings together account for approximately 30.58% of the portfolio, so the fund still has a long tail beyond the names shown here. The biggest single holding, TREPS, is 4.57%, and the rest of the list steps down gradually rather than collapsing into one dominant position. That kind of spread may help keep the portfolio from depending too heavily on one security.
Even so, the repeated presence of banks among the largest lines means financials are likely to matter to day-to-day portfolio movement. Alongside that, the mix also includes cash equivalents, corporate debt, a REIT or InvIT, and a retailing name, which suggests a blend of defensive and market-linked exposures rather than a single-theme portfolio. With 56 total disclosed holdings, the scheme appears to be built with breadth, even though the top 10 only explain a little under one-third of the book.
From an investor’s point of view, that profile may be easier to live with than a concentrated equity portfolio. The trade-off is that the fund’s return engine may be less visible from the largest holdings alone, because much of the portfolio sits beyond the top disclosed names.
To see all holdings, visit the Magnum Hybrid Long Short Fund Direct Growth Plan page
Source data date: as of 17 Sep 2026
Who should invest
This fund may suit investors with a conservative temperament who want lower-volatility exposure rather than a return-maximising strategy. The official risk label is Low Risk, and the recent numbers have been relatively contained even when the benchmark was weaker, which supports a steadier profile.
The main trade-off is that the fund has not yet shown a meaningful long-term return record, so the case for it rests more on portfolio structure and short-term steadiness than on a proven compounding history. Investors with a shorter monitoring horizon or a need for a calmer allocation may find that more relevant than those looking for strong multi-year upside.
Tax and exit load
| Holding period | Tax rate | Description |
|---|---|---|
| Units held less than 1 year | 20% | Short-term capital gains tax |
| Units held more than 1 year | 12.5% | Long-term capital gains tax |
Exit load applies as 0.50% on or before 15D, 0.25% after 15D but on or before 30D, and nil after 30D.
Source data date: as of 17 Sep 2026
Frequently asked questions
What is the current NAV of Magnum Hybrid Long Short Fund Direct Growth Plan?
The NAV is ₹10.4865 as of 17 Sep 2026.
What are the fund’s 1-year, 3-year and 5-year returns?
The fund’s 1-year, 3-year and 5-year returns are 0%, 0% and 0%.
How has it done versus the benchmark recently?
It has been less weak than the benchmark in the recent windows. The fund returned -0.67% over 1 month and 0.64% over 3 months, while the Nifty 50 returned -3.66% and -3.71%.
How does it compare with the listed peer funds on 1-year returns?
Its 1-year return of 0% trails the listed peers on that measure, but the comparison is limited because this fund does not yet have a mature trailing return history. The listed peer funds show 1-year figures ranging from 6.31% to 34.39%.
What is the minimum SIP amount?
The minimum SIP amount is ₹10,000.
Who manages the fund and what is the exit load?
The fund is managed by Gaurav Mehta. Exit load is 0.50% on or before 15D, 0.25% after 15D but on or before 30D, and nil after 30D.
It is a low-risk fund with a broad 56-holding portfolio and a 30.58% combined weight in the top 10 disclosed names.
Published on 18 September 2026 at 8:39 AM IST
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RIA disclosure
Mutual fund investments are subject to market risks. Read all scheme-related documents carefully before investing. This review is prepared by Uniapps Investment Adviser Pvt. Ltd. (earlier known as Uniapps Global Research Pvt. Ltd.) under SEBI Registered Investment Adviser registration INA000017639 for general informational purposes and is not personalized investment advice.