RedHex Hybrid Long-Short Fund
HSBC Mutual FundRedHex Hybrid Long-Short Fund combines equity arbitrage, a fixed-income and structured-credit sleeve, and REIT/InvIT exposure to target income with moderate capital appreciation. As of end-September 2026 the portfolio held roughly 33.4% in corporate bonds and debentures (rated A+ to AAA), 8.7% in securitised debt (PTCs), 0.7% in government securities, 11.7% in REITs, 14.1% in InvITs, 23.9% in listed equity (fully hedged via arbitrage), 6% in mutual fund units, and the balance in TREPS and net current assets. Regular plan expense ratio is 0.94%; the Direct plan runs 0.39%. AUM crossed ₹1,500 crore this month, nearly tripling over the three months since launch.
NAV history
Custom date range
Pick any two dates to see Direct Plan NAV and the return between them.
Performance vs. benchmark
Showing Direct Plan performance.
| Period | Fund | NIFTY 50 Hybrid Composite Debt 50:50 Index |
|---|---|---|
| 1 Week† | -0.35% | — |
| 15 Days† | -0.28% | — |
| 1 Month† | -0.25% | — |
| 3 Months† | +1.04% | — |
| 6 Months | — | — |
| 1 Year | — | — |
| 3 Years | — | — |
| 5 Years | — | — |
| Since Inception† | +1.87% | — |
† No AMC-verified benchmark figure yet for this period — computed from daily NAV.
Portfolio exposure
| Instrument | Sector | Type | Weight |
|---|---|---|---|
| Others Equity Total (remaining long positions) | — | Equity - Long | 9.1% |
| HSBC Money Market Fund - Direct Growth | — | Mutual Fund | 6.0% |
| Oxyzo Financial Services Pvt Limited | Corporate Bonds/Debentures (ICRA A+) | Debt - Long | 4.7% |
| GMR Airports Limited | Corporate Bonds/Debentures (CRISIL AA-) | Debt - Long | 4.7% |
| Cube Highways Trust | InvIT | InvIT | 4.7% |
| Incred Financial Services Ltd | Corporate Bonds/Debentures (CRISIL AA-) | Debt - Long | 3.9% |
| TREPS / Reverse Repo | — | Cash & Equivalents | 3.9% |
| IRB InvIT Fund | InvIT | InvIT | 3.7% |
| Mindspace Business Parks REIT | REIT | REIT | 3.7% |
| Knowledge Realty Trust | REIT | REIT | 3.6% |
| REC Limited | Corporate Bonds/Debentures (ICRA AAA) | Debt - Long | 3.4% |
| Triumph Composites Pvt Ltd | Corporate Bonds/Debentures (IND AA-) | Debt - Long | 3.4% |
| NABARD | Corporate Bonds/Debentures (CRISIL AAA) | Debt - Long | 3.3% |
| Muthoot Housing Finance | Corporate Bonds/Debentures (CRISIL AA-) | Debt - Long | 3.3% |
| Liquid Gold Series 24 PTC (IIFL Finance pools) | Securitised Debt/PTC (CRISIL A(SO)) | Debt - Long | 3.3% |
| ICICI Bank Limited | Banks | Equity - Long | 3.0% |
| Indigo 053 PTC (Earlysalary Services) | Securitised Debt/PTC (CARE AA(SO)) | Debt - Long | 2.9% |
| Krazybee Services Limited | Corporate Bonds/Debentures (CARE A+) | Debt - Long | 2.7% |
| Embassy Office Parks REIT | REIT | REIT | 2.6% |
| Ariel Trust 2026 PTC (Aye Finance) | Securitised Debt/PTC (IND AA+(SO)) | Debt - Long | 2.5% |
| Net Current Assets | — | Cash & Equivalents | -2.4% |
| LIC Housing Finance Limited | Corporate Bonds/Debentures (CRISIL AAA) | Debt - Long | 2.4% |
| Capital Infra Trust InvIT | InvIT | InvIT | 2.3% |
| Indus Towers Limited | Telecom - Services | Equity - Long | 1.8% |
| Raajmarg Infra Investment Trust | InvIT | InvIT | 1.8% |
| Bagmane Prime Office REIT | REIT | REIT | 1.8% |
| Canara Bank | Banks | Equity - Long | 1.8% |
| National Highways Infra Trust | InvIT | InvIT | 1.7% |
| SIDBI | Corporate Bonds/Debentures (CRISIL AAA) | Debt - Long | 1.7% |
| Reliance Industries Limited | Petroleum Products | Equity - Long | 1.5% |
| HDFC Bank Limited | Banks | Equity - Long | 1.5% |
| Steel Authority of India Limited | Ferrous Metals | Equity - Long | 1.3% |
| Godrej Properties Limited | Realty | Equity - Long | 1.2% |
| TVS Motor Company Limited | Automobiles | Equity - Long | 1.1% |
| State Bank of India | Banks | Equity - Long | 0.8% |
| Adani Power Limited | Power | Equity - Long | 0.8% |
| 7.06% GOI (10-Apr-2028) | Sovereign | Debt - Long | 0.7% |
Top holdings from the AMC's own portfolio disclosure — not the complete, line-by-line portfolio (which can run to 100+ positions). Gross/net exposure above is calculated from this subset, so it may differ slightly from the AMC's own published figures.
Investment strategy
Combines equity and debt exposure within one mandate, using long-short positioning across both to balance growth and income.
Key facts
- Category
- Hybrid Long-Short
- Benchmark
- NIFTY 50 Hybrid Composite Debt 50:50 Index
- Launch date
- 19 Jun 2026
- Expense ratio
- 0.39%
- Exit load
- 2% if redeemed within 1 year from allotment; Nil thereafter
- Lock-in
- —
- Risk-o-meter
- Risk Band 2 of 5 (Low to Moderate Risk) — SIF-specific risk band, distinct from the standard mutual fund risk-o-meter scale
- Minimum investment
- ₹10,00,000
- AMFI scheme code (Direct)
- SIF-129
- ISIN (Direct, Growth)
- INF336L30049
- AMFI scheme code (Regular)
- SIF-128
- ISIN (Regular, Growth)
- INF336L30015
- Official document
- AMC factsheet (PDF)As of 30 Sept 2026