NFO Price
₹1,000
Per unit
NFO Opens
10 Apr
2026
NFO Closes
24 Apr
2026
Re-opens
04 May
2026
Max TER
2.25%
Regular plan
Min Investment
₹10L
₹10K multiples
Investment objective
The strategy seeks to generate alpha over the long term by investing across a spectrum of large, mid and small cap companies using long/short equity strategies. Long exposure ranges 75–100% while short exposure via unhedged derivatives goes up to 25%, dynamically adjusted by the macro model.
Strategy & allocation
Sapphire runs a dual-layered process: a top-down macro model for dynamic capital allocation and a bottom-up proprietary multi-factor quant model for stock selection. Capital allocation is driven by macro indicators, street sentiment and index valuation — tilting long in constructive regimes and raising shorts in uncertain/negative ones.
Stock selection uses five primary factors with proprietary sub-factors. The long sleeve overweights best-scoring names; the short sleeve targets stocks with weak multi-factor scores and bearish sentiment. Risk management is embedded in portfolio construction.
Five-factor quant model
Quality
Profitability, balance sheet strength, asset efficiency
Innovation
R&D, capex coverage, investment in future growth
Value
Relative valuations, cash flow availability
Sentiment
Earnings growth, analyst revisions, price momentum
Alternatives
Options data — put/call OI, implied volatility
Sub-factors include Return on Assets, Capex Coverage, Enterprise Multiples, Shareholder Yield, Earnings Momentum and more. Portfolio Manager may add/remove factors.
Investor suitability
Suitable for
- ✓ Long-term capital appreciation seekers
- ✓ HNIs comfortable with equity volatility
- ✓ Investors wanting quant + macro-driven alpha
- ✓ 5+ year investment horizon
Not suitable for
- ✗ Guaranteed return seekers
- ✗ Investors needing frequent liquidity
- ✗ Below ₹10L investable surplus
- ✗ Low risk tolerance profiles
Fund management
Arihant Jain
Portfolio Manager
B.E. (Hons) BITS Pilani · CFA · 8 yrs
Prior roles: Senior Investment Analyst at Franklin Templeton Services (India), Senior Associate at MSCI (quant factor indexes), Market-Neutral Strategy analyst at Morgan Stanley, Quant Research Analyst at Quant One.