NFO Alert: Invesco Mutual Fund launches equity long-short fund under its SIF platform Summit

Invesco Mutual Fund today announced the launch of an equity long-short fund under the brand name Summit SIF. The Summit Equity Long-Short Fund is an open-ended equity strategy investing in listed equity and equity-related instruments, including limited short exposure in equity through derivative instruments.

The new fund offer, or NFO, is open for subscription and will close on July 16. The fund will reopen for continuous sale and repurchase within five business days from the date of allotment.

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Summit Equity Long-Short Fund is designed to capture both directional upside through long positions and tactical downside opportunities through short positions. The strategy reflects the core philosophy of Summit SIF: adapting to market conditions while seeking alpha.

This will combine two distinct strategies to deliver an edge to the portfolio: A directional long strategy driven by a bottom-up stock selection process anchored in Invesco Asset Management (India)’s categorisation framework; a Tactical short position via derivatives aimed at capturing downside opportunities in stocks expected to underperform.

The investment strategy will be managed by Mr Hiten Jain and will be benchmarked to the BSE 500 TRI.

“We are at an inflection point in Indian asset management. The SIF category gives experienced investors access to a level of portfolio flexibility that was previously the preserve of institutional capital. Summit SIF is our commitment to bringing specialised investment thinking to India’s next generation of wealth builders,” said Saurabh Nanavati, MD & CEO, Invesco Asset Management (India).

The fund will allocate 80-100% in equity and equity-related instruments, 0-25% in short exposure through unhedged derivative positions in equity and equity-related instruments, 0-20% in units issued by InvITs and 0-20% in debt and money market instruments.

“In today’s dynamic markets, alpha generation extends beyond simply riding the tide - it requires navigating both opportunity and risk. Conventional long-only funds can make money when stock prices go up. However, return generation within markets is inherently non-linear and characterised by periodic dislocations. Summit Equity Long-Short Fund is designed to capture both long and short opportunities, enabling it to effectively capitalise on market volatility and evolving opportunities,” said Hiten Jain, Fund Manager, Invesco Mutual Fund.

The minimum investment amount during the NFO is Rs 10,00,000 and in multiples of Re 1 thereafter. In case of Accredited investors, the minimum investment amount during the NFO is Rs 1,00,000 and in multiples of Re 1 thereafter. For SIP investments, the minimum application amount is Rs 1,000 and in multiples of Re 1 thereafter, subject to maintaining an investment threshold of Rs 10,00,000 across all investment strategies of Summit SIF.

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The investment strategy will charge an exit load of 0.50% for units redeemed/switched out on or before 3 months from the date of allotment. No exit load will be charged if units are redeemed/switched out after 3 months.

The principal invested in the fund will be at risk band - 5 according to the riskometer of the fund. The fund is suitable for investors who are seeking capital appreciation over the long term and want investments predominantly in equity and equity-related instruments, including limited short exposure in equity through derivative instruments.

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