Who Is Gaurav Mehta of SBI Mutual Fund?
Gaurav Mehta of SBI Mutual Fund heads the specialised investment fund (SIF) business for equity and manages the Magnum Hybrid Long Short Fund. He previously served as Chief Investment Officer (CIO) – Alternatives (Equity), a role he took on in October 2021, overseeing equity Portfolio Management Services (PMS) and Alternative Investment Fund (AIF) strategies. His background combines equity research, portfolio management and investment strategy.
Gaurav Mehta holds a B.Tech in Chemical Engineering from the Indian Institute of Technology Bombay (IIT Bombay), a Post Graduate Diploma in Management (PGDM) from the Indian Institute of Management Lucknow (IIM Lucknow), and is a CFA charterholder.
His career includes experience at Edelweiss Capital, Ambit Capital and Ambit Investment Advisors before his progression through investment and fund-management roles at SBI Mutual Fund. His current responsibilities place him in the specialised investment fund segment, where investment strategies can combine equity exposure with derivatives and other permitted instruments, subject to the fund's mandate.
Professional profile: Gaurav Mehta on LinkedIn
Gaurav Mehta's Role at SBI Funds Management
Gaurav Mehta's responsibilities at SBI Funds Management have included equity research, fund management, oversight of alternative investment strategies and leadership of the SIF business. His career at SBI Mutual Fund reflects a progression from research to broader investment responsibilities.
| Period | Role or milestone |
| November 2018 | Joined SBI Mutual Fund as an Equity Analyst |
| Subsequent years | Progressed through investment and fund-management responsibilities |
| October 2021 | Became CIO – Alternatives (Equity), overseeing equity PMS and AIF strategies |
| July 2025 | Appointed to lead the specialised investment fund business |
| Current role | Head – SIF (Equity), SBI Mutual Fund; associated with the Magnum Hybrid Long Short Fund |
As CIO – Alternatives (Equity), Gaurav Mehta's responsibilities included oversight of SBI's equity PMS and AIF strategies. These included strategies such as SBI Aeon Alpha PMS, SBI ESG Portfolio and SBI Optimal Equity Fund, a Category III AIF. This describes his earlier oversight role and should not be interpreted as a statement that he currently manages every strategy listed.
In his SIF leadership role, his responsibilities centre on an investment format that can combine equity and debt exposure with derivatives, according to the scheme's permitted strategy. The fund's current mandate and manager information should be read alongside its official scheme documents.
Funds Managed by Gaurav Mehta
Gaurav Mehta's current fund-management association is with the Magnum Hybrid Long Short Fund, SBI Mutual Fund's specialised investment fund. His earlier role as CIO – Alternatives (Equity) also involved oversight of alternative investment strategies.
Magnum Hybrid Long Short Fund
The Magnum Hybrid Long Short Fund is a specialised investment fund (SIF) launched by SBI Mutual Fund in October 2025. It is designed as a hybrid strategy combining equity exposure with debt investments and derivative-based hedging, within the limits and conditions specified in its scheme documents.
The strategy described in the brief includes:
- Equity allocation: Approximately 65–75% of the portfolio.
- Debt allocation: Approximately 25–35% of the portfolio.
- REITs and InvITs: Up to 10%, subject to the scheme's permitted allocation and applicable limits.
- Derivatives: May be used for hedging and other permitted strategy objectives.
- Minimum investment: ₹10 lakh, as described in the product brief.
These allocations are indicative of the stated strategy and should be read with the latest scheme information. Actual portfolio allocations can vary within the scheme's permitted limits. Derivatives can create additional risks, and hedging does not eliminate the possibility of losses.
Investors should review the current investment objective, asset-allocation limits, costs, tax treatment, liquidity terms and risk factors before investing.
Strategies Previously Overseen as CIO – Alternatives
Before leading the SIF business, Gaurav Mehta served as CIO – Alternatives (Equity) at SBI Mutual Fund. In that role, he oversaw alternative investment strategies that included:
- SBI Aeon Alpha Portfolio: An equity PMS strategy. See the SBI Aeon Alpha Portfolio page.
- SBI ESG Portfolio: An equity strategy associated with environmental, social and governance considerations.
- SBI Optimal Equity Fund: A Category III AIF strategy.
These references describe strategies associated with his former oversight role, not necessarily his current direct fund-management responsibilities. Investors should consult the respective product documents for current managers, mandates, eligibility requirements and availability.
Gaurav Mehta's Investment Approach
Gaurav Mehta's published views on the Magnum Hybrid Long Short Fund have highlighted the use of derivatives for hedging, the consideration of event-driven opportunities and a hybrid structure designed to combine equity participation with a debt allocation. The strategy's stated objectives include managing downside exposure through hedging tools while retaining the ability to participate in equity-market opportunities.
A long-short or hedged investment approach can use derivatives to reduce, alter or manage selected exposures. However, derivatives introduce risks of their own, including leverage, basis risk, counterparty risk, liquidity constraints and the possibility that a hedge may not behave as expected during volatile markets.
An event-driven approach may seek opportunities around specific corporate or market developments. Such situations require analysis of the event, its likely impact, the valuation of the security and the time required for the investment thesis to play out. Events may not unfold as expected, and market prices can react differently from anticipated outcomes.
The hybrid structure also makes it important to understand the relationship between equity, debt and derivative positions. These components may behave differently across market environments. The scheme's investment process, permitted exposures and risk controls are set out in its official documents.
Gaurav Mehta's approach should therefore be understood through the published objectives and structure of the fund he manages, rather than through an assumed personal investment philosophy. The fund's objectives are not guarantees of capital protection or positive returns.
Career Before SBI Mutual Fund
Before joining SBI Mutual Fund, Gaurav Mehta worked across equity research and investment management at Edelweiss Capital, Ambit Capital and Ambit Investment Advisors.
He joined Edelweiss Capital in May 2006, building experience in financial markets and equity analysis. His subsequent work at Ambit Capital included equity research within institutional equities, a role involving company analysis, sector research and the development of investment views for institutional clients.
At Ambit Investment Advisors, he worked as a portfolio manager. This role brought his research experience into portfolio construction and investment decision-making, where company fundamentals, valuations and portfolio-level considerations are all relevant.
His move to SBI Mutual Fund expanded his responsibilities within a large asset-management organisation. He progressed from equity research to fund-management roles, later becoming CIO – Alternatives (Equity) in October 2021 and subsequently taking on leadership of the SIF business.
Gaurav Mehta's Education and Qualifications
Gaurav Mehta has a B.Tech in Chemical Engineering from IIT Bombay and a PGDM from IIM Lucknow. He is also a CFA charterholder.
His education combines a technical undergraduate background with management training and professional investment credentials. These qualifications complement his experience in equity research, institutional equities, portfolio management and alternative investment strategies.
Invest in SBI Funds Through ALTPORT
Investors interested in SBI Mutual Fund's specialised investment fund offerings can start by reviewing the fund's structure, eligibility criteria, investment strategy, minimum commitment, fees and risk disclosures.
ALTPORT provides product information to help investors explore available investment options. To understand the specialised investment fund structure, read the SIF explainer and compare it with SIF vs PMS vs AIF.
Investors can also explore SIF funds listed on ALTPORT. Before investing, review the latest scheme documents and assess whether the product's risk profile, investment horizon and liquidity arrangements fit your circumstances. Product listings are informational and do not constitute a guarantee of performance or a recommendation to invest.
Disclaimer
This content is for educational and informational purposes only and should not be construed as investment advice or a recommendation to invest in any scheme. Investments are subject to market risks, and investors may lose capital. Specialised investment funds and derivative-based strategies involve risks that can differ from those of conventional mutual funds. Read all scheme-related documents carefully and consider your financial objectives, risk tolerance, investment horizon and liquidity needs before investing. Past performance does not guarantee future results.
Manage By : Gaurav Mehta
