RedHex Hybrid Long-Short Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?
- September 18, 2026
- Posted by: Chaitanya Auti
- Category: Mutual Funds
RedHex Hybrid Long-Short Fund Direct Growth Plan has a current NAV of ₹10.2357 as of 17 Sep 2026 and a scheme AUM of ₹1,072 Cr. Its 1-year, 3-year and 5-year returns are 0%, 0% and 0%, and the fund sits in the Balanced Risk category. In our view, the mix of a balanced-risk profile, a short track record since 19 Jun 2026, and a portfolio built around debt, cash and structured income instruments makes it more of a cautious, stabilising allocation than a return-led core holding.
The benchmark is Nifty 50, which gives a useful equity reference point, but the fund’s own return history is still too brief to build a long-term compounding read. The current setup may suit investors who want a more measured portfolio profile and are comfortable with limited performance history.
Quick facts
| Particular | Details |
|---|---|
| NAV | ₹10.2357 as of 17 Sep 2026 |
| AUM | ₹1,072 Cr |
| Expense Ratio | 0.0% |
| Launch Date | 19 Jun 2026 |
| Min SIP | ₹1,000 |
| Risk Category | Balanced Risk |
| Benchmark | Nifty 50 |
| Fund Category | Debt |
| Exit Load | 2% on or before 1Y, NIL after 1Y |
| Fund Managers | Venugopal Manghat, Shriram Ramanathan, Praveen Ayathan, Mayank Chaturvedi |
The fund is managed by Venugopal Manghat, Shriram Ramanathan, Praveen Ayathan and Mayank Chaturvedi.
Source data date: as of 17 Sep 2026
Performance
| Period | Fund return | Benchmark return |
|---|---|---|
| 1M | 0.5% | -3.66% |
| 3M | Data not available | Data not available |
| 1Y | 0% | Data not available |
| 3Y | Data not available | Data not available |
| 5Y | Data not available | Data not available |
The one-month reading is modestly positive for the fund while the benchmark is negative over the same period. That suggests the portfolio has held up better in the very short run, even though the absolute movement is small. The key point is that this is still a new scheme, so the current return pattern should be read as an early signal rather than a full cycle assessment.
There is no meaningful multi-year trail yet, so we cannot build a true long-horizon compounding story from the fund’s own history. The 1-year figure at 0% also shows that the scheme has not yet established a longer performance record. For investors, that means short-term relative steadiness matters more here than any claim about proven long-run consistency.
The benchmark contrast also matters. Nifty 50’s 1-month return is negative, while the fund’s 1-month return is positive, so recent behaviour has been more resilient than the equity gauge used for comparison. Even so, this does not make the fund an equity substitute; it simply indicates that the current mix has been less volatile in the latest month than the benchmark reference.
Overall, the performance profile is still in its early phase. Our view is that the main question is not whether the fund has a long record of outperformance, but whether investors are comfortable with a new scheme whose first visible return snapshot is steadier than the benchmark but too short to judge through a full market cycle.
Source data date: as of 17 Sep 2026
Should you BUY or HOLD RedHex 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 RedHex Hybrid Long-Short? Thinking of investing now?
Peer comparison
| Fund | 1Y return | 3Y return | 5Y return |
|---|---|---|---|
| RedHex Hybrid Long-Short Fund Direct Growth Plan | 0% | Data not available | Data not available |
| Infinity Hybrid Long-Short Fund Direct Growth Plan | 0% | 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 and its peer both have the same 1-year return reading, so the short-term comparison does not separate them. With no usable 3-year or 5-year figures for either fund, the peer set offers little evidence for a long-horizon advantage on the figures available here.
That makes the current comparison more about similarity than separation. If an investor is trying to distinguish between these two schemes using return history alone, the present record does not create a clear gap. The more useful distinction comes from the fund’s own portfolio structure and its early month-to-month behaviour, not from any multi-year return contrast.
Source data date: as of 17 Sep 2026
Want to know more? Log in to Univest for more mutual fund insights.
Portfolio: where your money goes
| Holding | Sector | Weight |
|---|---|---|
| TREPS | Cash & Cash Equivalents and Net Assets | 8.76% |
| HSBC Money Market Fund – Direct Growth | Domestic Mutual Funds Units | 6.03% |
| Triumph Composites Pvt Ltd** | Corporate Debt | 4.69% |
| Liquid Gold Series 24** | PTC & Securitized Debt | 4.63% |
| Muthoot Housing Finance** | Corporate Debt | 4.62% |
| GMR Airports Limited** | Corporate Debt | 4.52% |
| Cube Highway Trust | Finance | 4.26% |
| Indigo 053** | PTC & Securitized Debt | 4.04% |
| Embassy Office Parks Reit | Finance | 3.74% |
| Krazybee Services Limited** | Corporate Debt | 3.73% |
The largest holding, TREPS, is 8.76%, which points to a meaningful cash-like buffer at the top of the book. The tenth holding is 3.73%, so the weights do not fall sharply from the top line to the tail of the disclosed list; instead, the holdings step down gradually across the ten largest positions.
The top 10 holdings together account for approximately 49.02% of the portfolio, and the scheme discloses 37 holdings in total. That combination suggests the fund is not concentrated in just one or two positions, but the disclosed book still has a meaningful slice tied to the largest holdings. In our view, that can support a more measured return profile, while still leaving room for the remaining holdings to matter.
Because the disclosed holdings span cash, money market units, corporate debt, securitised debt, finance exposure and REITs, the portfolio looks diversified across several income-oriented buckets. The mix may help reduce reliance on any single issuer or instrument type, although the limited disclosure means we should avoid overstating how the full portfolio behaves beyond the top holdings.
To see all holdings, visit the RedHex Hybrid Long-Short Fund Direct Growth Plan page
Source data date: as of 17 Sep 2026
Who should invest
This fund may appeal to investors who are comfortable with a Balanced Risk profile and who want a more measured allocation rather than a high-octane equity-style return engine. The early return history is brief, so it is better suited to someone with a patient horizon and an expectation that near-term stability matters more than a long track record.
The comparison with Nifty 50 suggests the fund has been less volatile in the latest month, but there is not enough history yet to judge how it behaves across different market phases. Investors who value debt-heavy, income-oriented exposure and are willing to accept limited performance history may find the trade-off reasonable.
In simple terms, the main trade-off is steadier-looking recent behaviour against a still-developing record. This is a better fit for someone who wants diversification from pure equity risk and can stay invested long enough for the strategy to show how it behaves beyond the launch phase.
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
2% on or before 1Y, NIL after 1Y.
Source data date: as of 17 Sep 2026
Frequently asked questions
What is the current NAV of RedHex Hybrid Long-Short Fund Direct Growth Plan?
The current NAV is ₹10.2357 as of 17 Sep 2026.
What are the fund’s 1-year, 3-year and 5-year returns?
The 1-year, 3-year and 5-year returns are 0%, 0% and 0% in the available record. The fund is still very new, so there is not yet a long performance trail to read across multiple market cycles.
How does it compare with Nifty 50?
Over 1 month, the fund returned 0.5% while Nifty 50 returned -3.66%. That shows the fund has been steadier than the benchmark in the latest month, though the history is still too short for a broader conclusion.
How does it compare with the peer fund shown here?
On the figures available here, the fund and Infinity Hybrid Long-Short Fund Direct Growth Plan both show a 1-year return of 0%. There is no usable 3-year or 5-year comparison for either scheme in this view.
What is the minimum SIP amount?
The minimum SIP amount is ₹1,000.
Who manages the fund and what is the exit load?
The fund is managed by Venugopal Manghat, Shriram Ramanathan, Praveen Ayathan and Mayank Chaturvedi. The exit load is 2% on or before 1 year and NIL after 1 year.
Bottom line
RedHex Hybrid Long-Short Fund Direct Growth Plan has shown a slightly positive short-term return while the benchmark reference was negative, but it still lacks a meaningful multi-year record. The peer comparison does not create a visible return gap on the figures available, so the more important story is the fund’s Balanced Risk profile and its debt- and cash-leaning portfolio mix. It may suit investors who want a measured allocation and can tolerate a short track record while the strategy continues to build history.
Published on 18 September 2026 at 9:35 AM IST
Explore mutual funds with Univest
Review mutual fund data, compare performance and explore fund insights on Univest.
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.