Description

Franklin India Mutual Fund launches New Fund Offer for Sapphire Equity Long-Short SIF on BSE StAR MF Platform from April 10 to April 24, 2026, with SIP facility and tentative allotment on April 29, 2026.

Summary

Franklin India Mutual Fund is launching the Sapphire Equity Long-Short SIF (Specialized Investment Fund) as a New Fund Offer (NFO) on the BSE StAR MF Platform. The NFO opens on April 10, 2026, and closes on April 24, 2026, with six scheme variants across Regular and Direct plans. Tentative allotment is scheduled for April 29, 2026.

Key Points

  • NFO period: April 10, 2026 to April 24, 2026 on BSE StAR MF Platform
  • Six scheme variants offered: Regular and Direct plans, each with Growth, IDCW Reinvestment, and IDCW Payout options
  • All six schemes are in the Equity category under the Specialized Investment Fund (SIF) structure
  • ISINs assigned: INF090I30014, INF090I30022, INF090I30030, INF090I30048, INF090I30055, INF090I30063
  • Transactions where the client has not initiated funds by 9:00 AM on T+1 will be cancelled; CC with N flag reported to RTA/AMC
  • Pending transactions remain in system until 3:00 PM on the last day of funds payout to AMC or T+5, whichever is earlier
  • Cheques and OTM payments acceptable during NFO period subject to clear fund receipt conditions
  • NFO extended till midnight of April 24, 2026, for lumpsum purchases only
  • SIP/XSIP authentication must be completed before 3:00 PM on the NFO closure date (April 24, 2026)

Regulatory Changes

This notice references notice number 20260409-42 regarding the introduction of Specialized Investment Funds (SIF) as a new product category on the BSE StAR MF Platform. The SIF structure represents a newer regulated fund category distinct from traditional mutual fund schemes.

Compliance Requirements

  • Members (brokers/distributors) must ensure client funds are initiated before 9:00 AM on T+1 to avoid cancellation
  • SIP/XSIP clients must complete authentication before 3:00 PM on April 24, 2026 (NFO closure date)
  • Clear funds must be available in the ICCL Account by 6:00 PM on April 29, 2026 to be eligible for unit allotment
  • Cheque and OTM payments must result in clear funds in ICCL account by 6:00 PM on April 29, 2026

Important Dates

  • April 10, 2026: NFO opens on BSE StAR MF Platform
  • April 24, 2026 (3:00 PM): Deadline for SIP/XSIP authentication by clients
  • April 24, 2026 (midnight): NFO closes; lumpsum purchases extended till midnight
  • April 29, 2026 (6:00 PM): Deadline for clear funds to be available in ICCL Account
  • April 29, 2026: Tentative allotment date for Sapphire Equity Long-Short SIF units

Impact Assessment

This circular impacts mutual fund distributors and investors using the BSE StAR MF Platform who wish to subscribe to Franklin India’s new Sapphire Equity Long-Short SIF. The equity long-short strategy under the SIF structure targets sophisticated investors. Distributors must ensure operational compliance around fund initiation timelines and SIP authentication deadlines to avoid transaction cancellations. The introduction of SIF schemes on BSE StAR MF represents an expanding product universe for platform participants.

Impact Justification

Routine NFO announcement for a new Specialized Investment Fund category scheme; medium impact for investors and distributors transacting on BSE StAR MF Platform within the NFO window.