Sapphire Equity Long-Short Fund
Frequently asked questions
What is Sapphire Equity Long-Short Fund?
Sapphire Equity Long-Short Fund is a Specialized Investment Fund (SIF) from Franklin Templeton Mutual Fund. To generate long-term alpha by investing across large, mid, and small cap companies using long/short equity strategies. Its benchmark is NIFTY 500 Total Return Index (TRI).
What is the minimum investment in Sapphire Equity Long-Short Fund?
The minimum investment is ₹10,00,000 (first-time), multiples of ₹10,000; additional ₹10,000, multiples of ₹1,000.
How often can I buy and redeem units?
Subscriptions: NAV applied by business-day time-stamp; SIP minimum ₹10,000, multiples of ₹1 (subject to ₹10L min. investment). Redemptions: No lock-in; NAV applied by business-day time-stamp.
What is the exit load?
Exit load: 1% (≤1 year), Nil after. Confirm the latest terms in the scheme's SID.
How is a SIF different from a mutual fund?
A SIF can take limited short positions through derivatives, which a regular mutual fund scheme generally cannot, and it has a higher minimum investment. That flexibility adds derivative, liquidity and manager-execution risk, so read the SID before investing.
How risky is Sapphire Equity Long-Short Fund?
The scheme is classified as Level 5 on the risk-o-meter shown on this page. SIFs are subject to market risk, and past performance is not indicative of future returns.
How is Sapphire Equity Long-Short Fund taxed?
Tax depends on whether the scheme qualifies as equity-oriented, meaning at least 65% in domestic equity; confirm this in the SID. Under current Indian tax rules, gains on equity-oriented units held for more than 12 months are taxed at 12.5% on gains above ₹1.25 lakh in a financial year, and gains on units sold within 12 months are taxed at 20%. Tax rules can change, so check with a tax adviser.