What is a Specialized Investment Fund (SIF)?

A SIF is a new SEBI-regulated investment product that bridges the gap between Mutual Funds and Portfolio Management Services (PMS). SIFs combine the ease of mutual funds with advanced long-short strategies using derivatives, offering sophisticated investing to HNI investors with a minimum investment of ₹10 lakhs.

What is the minimum investment for SIF in India?

The minimum aggregate investment for SIF is ₹10,00,000 (₹10 lakhs) at the PAN level across all SIF strategies offered by an AMC. Accredited investors are exempt from this threshold. After meeting the threshold, SIP/STP/SWP options become available.

How is SIF different from PMS?

SIFs have a much lower entry point (₹10 lakhs vs ₹50 lakhs for PMS), offer mutual fund-like taxation benefits, provide daily/weekly liquidity, and are pooled vehicles rather than individually managed portfolios. SIFs can also take unhedged short positions up to 25% of net assets.

How is SIF different from Mutual Funds?

While Mutual Funds can only use derivatives for hedging, SIFs can take unhedged short positions up to 25% of net assets. This allows SIF managers to potentially profit from both rising and falling markets. SIFs have a higher minimum investment (₹10 lakhs vs ₹500 for MFs) but retain MF-like taxation.

Who can invest in SIF?

Any Indian resident or NRI with a minimum investment capacity of ₹10 lakhs can invest in SIFs. Investors need to complete standard KYC requirements and open a separate SIF folio. Accredited investors are exempt from the minimum threshold requirement.

How are SIFs taxed in India?

SIF taxation is aligned with Mutual Fund taxation. Equity-oriented SIFs: 12.5% LTCG (after 12 months), 20% STCG. Debt-oriented SIFs: taxed as per investor’s income tax slab. Hybrid SIFs: 12.5% LTCG for holdings over 12 months, STCG as per slab.

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Equity Long-Short Fund

Invesco Mutual Fund

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SEBI Registered SIFs

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Across India

Rs 10L

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PAN-level SIF minimum

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Showing 30 of 30 funds

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Fund / AMC	Strategy	Category	NAV	1M Return	3M Return	ITD Return	Risk Band	Alpha Shield	Action
Arudha Hybrid Long-Short Bandhan Mutual Fund	Balanced hybrid with pair-trade hedging	Hybrid	Rs 10.313	+1.62%	+2.20%	+2.78%	Conservative	10.0	Invest
qSIF Hybrid Long-Short Quant Mutual Fund	Quant-driven multi-factor hybrid with short overlay	Hybrid	Rs 10.5912	+1.63%	+7.56%	+5.71%	Moderate	8.6	Invest
Diviniti Equity Long-Short ITI Mutual Fund	Fundamental equity selection with systematic hedging	Equity	Rs 939.7426	+2.40%	-0.92%	-6.12%	Aggressive	8.0	Invest
Altiva Hybrid Long-Short Edelweiss Mutual Fund	Arbitrage + directional equity + fixed income	Hybrid	Rs 10.8111	+1.37%	+5.77%	+8.00%	Moderate	7.8	Invest
Magnum Hybrid Long-Short SBI Mutual Fund	Multi-asset hybrid with tactical equity hedging	Hybrid	Rs 10.4314	+1.37%	+4.37%	+3.94%	Moderate	7.0	Invest
Dyna Equity Long-Short 360 ONE Asset	Dynamic equity allocation with tactical short positions	Equity	Rs 10.5138	+1.77%	+9.88%	+5.06%	Aggressive	6.1	Invest
qSIF Ex-Top 100 Long-Short Quant Mutual Fund	Quant ex-top-100 long-short with derivative hedging	Equity Ex-Top 100	Rs 10.5082	+4.28%	+22.07%	+4.97%	Aggressive	4.3	Invest
iSIF Ex-Top 100 Long-Short ICICI Prudential	Mid/small-cap alpha with systematic short overlay	Equity Ex-Top 100	Rs 10.09	+1.41%	+11.86%	+1.00%	Aggressive	3.4	Invest
qSIF Equity Long-Short Quant Mutual Fund	Quant long-short with momentum + mean-reversion	Equity	Rs 10.6254	+2.57%	+19.02%	+6.20%	Aggressive	2.8	Invest
Titanium Hybrid Long-Short Tata Mutual Fund	Conservative hybrid with systematic derivatives hedging	Hybrid	Rs 10.182	+1.98%	+8.20%	+1.79%	Aggressive	0.3	Invest
iSIF Hybrid Long-Short ICICI Prudential	Balanced allocation with dynamic hedging framework	Hybrid	Rs 10.2186	+3.00%	+10.71%	+2.00%	Aggressive	0.1	Invest
Altiva Ex-Top 100 Long-Short Edelweiss Mutual Fund	Mid + small cap long-short with up to 25% unhedged short via derivatives	Equity Ex-Top 100	Rs 10.5779	—	—	+6.11%	Aggressive	--	Invest
Apex Hybrid Long-Short Aditya Birla Sun Life Mutual Fund	ESF+ multi-strategy: arbitrage, directional, special situations	Hybrid	Rs 10.3027	+1.91%	+2.82%	+2.82%	Moderate	--	Invest
Arthaya Equity Long-Short Union Mutual Fund	Active multi-cap long/short on F&O universe with ≤25% unhedged short	Equity	Rs 10.0851	+0.94%	—	+0.94%	Aggressive	--	Invest
Arudha Equity Long-Short Bandhan Mutual Fund	Long-biased (80–100% equity) with ≤25% unhedged short	Equity	Rs 10.294	+2.15%	+4.75%	+4.76%	Moderate	--	Invest
Dyna Active Asset Allocator 360 ONE Asset	Dynamic asset allocation across equity, debt, commodities	Active Asset Allocator	Rs 10.3331	+1.47%	+3.11%	+3.12%	Conservative	--	Invest
DynaSIF Ex-Top 100 Long-Short 360 ONE Asset	Mid/small-cap alpha (65-100% ex-top 100) with <=25% unhedged short via derivatives	Equity Ex-Top 100	Rs 10.0487	—	—	+0.68%	Aggressive	--	Invest
KM Infinity Hybrid Long-Short Kotak Mahindra Mutual Fund	Interval hybrid: 35-75% equity vs 25-65% debt and money market with <=25% unhedged short via derivatives; NSE + BSE listing proposed	Hybrid	Rs 10.00	—	—	0.00%	Conservative	--	Invest
iSIF Active Asset Allocator ICICI Prudential Mutual Fund	Dynamic multi-asset across equity, debt, gold, silver, InvITs	Active Asset Allocator	Rs 10.0839	—	—	+0.87%	Moderate	--	Invest
iSIF Equity Long-Short ICICI Prudential Mutual Fund	Listed Nifty 500 equity with limited short exposure via derivatives	Equity	Rs 10.18	—	—	+1.80%	Aggressive	--	Invest
Platinum Hybrid Long-Short Mirae Asset Mutual Fund	Income-oriented: arbitrage, covered calls + debt with limited unhedged equity & short via derivatives	Hybrid	Rs 10.087	—	—	+0.86%	Conservative	--	Invest
qSIF Active Asset Allocator Quant Mutual Fund	Quant-driven tactical allocation with long-short overlay	Active Asset Allocator	Rs 10.5486	+2.57%	—	+5.37%	Moderate	--	Invest
qSIF Sector Rotation Long-Short Quant Mutual Fund	Concentrated in 4 of 12 sectors with derivatives short overlay	Sector Rotation	Rs 10.2177	+1.42%	—	+2.08%	Aggressive	--	Invest
HS RedHex Hybrid Long-Short HSBC Mutual Fund	Interval hybrid with 25-75% equity, 25-75% debt and <=25% unhedged short via derivatives	Hybrid	Rs 10.0376	—	—	+0.16%	Conservative	--	Invest
Sapphire Equity Long-Short Franklin Templeton	Multi-factor quant + macro-driven allocation	Equity	Rs 1,003.3225	+1.17%	—	+0.33%	Aggressive	--	Invest
Titanium Equity Long-Short Tata Mutual Fund	Long-biased equity (80–100%) with ≤25% unhedged short via derivatives	Equity	Rs 10.1676	+1.47%	—	+1.28%	Aggressive	--	Invest
WSIF Equity Long-Short The Wealth Company MF	Long-biased equity strategy across market caps with derivatives overlay	Equity	Rs 10.4136	+5.05%	—	+4.13%	Aggressive	--	Invest
WSIF Ex-Top 100 Long-Short The Wealth Company MF	Mid/small-cap alpha (65–100% ex-top 100) with ≤25% unhedged short via derivatives	Equity Ex-Top 100	Rs 10.5511	+6.07%	—	+5.55%	Aggressive	--	Invest
JB Prism Hybrid Long-Short Jio BlackRock Mutual Fund	Interval hybrid: 35-75% equity, 25-65% debt, <=25% unhedged short via equity/debt derivatives, BlackRock signal research + Aladdin	Hybrid	Rs 10.00	—	—	—	NFO	--	Invest
IN Summit Equity Long-Short Invesco Mutual Fund	Bottom-up equity long-short: 80-100% listed equity with <=25% tactical unhedged short via derivatives	Equity	Rs 10.00	—	—	—	NFO	--	Invest

Hybrid LSConservative

Balanced hybrid with pair-trade hedging

NAV

Rs 10.313

+1.62%

+2.20%

ITD

+2.78%

Alpha Shield10.0

View fund Invest

Hybrid LSModerate

Quant-driven multi-factor hybrid with short overlay

NAV

Rs 10.5912

+1.63%

+7.56%

ITD

+5.71%

Alpha Shield8.6

View fund Invest

Equity LSAggressive

Fundamental equity selection with systematic hedging

NAV

Rs 939.7426

+2.40%

-0.92%

ITD

-6.12%

Alpha Shield8.0

View fund Invest

Hybrid LSModerate

Arbitrage + directional equity + fixed income

NAV

Rs 10.8111

+1.37%

+5.77%

ITD

+8.00%

Alpha Shield7.8

View fund Invest

Hybrid LSModerate

Multi-asset hybrid with tactical equity hedging

NAV

Rs 10.4314

+1.37%

+4.37%

ITD

+3.94%

Alpha Shield7.0

View fund Invest

Equity LSAggressive

Dynamic equity allocation with tactical short positions

NAV

Rs 10.5138

+1.77%

+9.88%

ITD

+5.06%

Alpha Shield6.1

View fund Invest

Equity Ex-Top 100Aggressive

Quant ex-top-100 long-short with derivative hedging

NAV

Rs 10.5082

+4.28%

+22.07%

ITD

+4.97%

Alpha Shield4.3

View fund Invest

Equity Ex-Top 100Aggressive

Mid/small-cap alpha with systematic short overlay

NAV

Rs 10.09

+1.41%

+11.86%

ITD

+1.00%

Alpha Shield3.4

View fund Invest

Equity LSAggressive

Quant long-short with momentum + mean-reversion

NAV

Rs 10.6254

+2.57%

+19.02%

ITD

+6.20%

Alpha Shield2.8

View fund Invest

Hybrid LSAggressive

Conservative hybrid with systematic derivatives hedging

NAV

Rs 10.182

+1.98%

+8.20%

ITD

+1.79%

Alpha Shield0.3

View fund Invest

Hybrid LSAggressive

Balanced allocation with dynamic hedging framework

NAV

Rs 10.2186

+3.00%

+10.71%

ITD

+2.00%

Alpha Shield0.1

View fund Invest

Equity Ex-Top 100Aggressive

Mid + small cap long-short with up to 25% unhedged short via derivatives

NAV

Rs 10.5779

—

ITD

+6.11%

Alpha Shield--

View fund Invest

Hybrid LSModerate

ESF+ multi-strategy: arbitrage, directional, special situations

NAV

Rs 10.3027

+1.91%

+2.82%

ITD

+2.82%

Alpha Shield--

View fund Invest

Equity LSAggressive

Active multi-cap long/short on F&O universe with ≤25% unhedged short

NAV

Rs 10.0851

+0.94%

—

ITD

+0.94%

Alpha Shield--

View fund Invest

Equity LSModerate

Long-biased (80–100% equity) with ≤25% unhedged short

NAV

Rs 10.294

+2.15%

+4.75%

ITD

+4.76%

Alpha Shield--

View fund Invest

Active Asset AllocatorConservative

Dynamic asset allocation across equity, debt, commodities

NAV

Rs 10.3331

+1.47%

+3.11%

ITD

+3.12%

Alpha Shield--

View fund Invest

Equity Ex-Top 100Aggressive

Mid/small-cap alpha (65-100% ex-top 100) with <=25% unhedged short via derivatives

NAV

Rs 10.0487

—

ITD

+0.68%

Alpha Shield--

View fund Invest

Hybrid LSConservative

Interval hybrid: 35-75% equity vs 25-65% debt and money market with <=25% unhedged short via derivatives; NSE + BSE listing proposed

NAV

Rs 10.00

—

ITD

0.00%

Alpha Shield--

View fund Invest

Active Asset AllocatorModerate

Dynamic multi-asset across equity, debt, gold, silver, InvITs

NAV

Rs 10.0839

—

ITD

+0.87%

Alpha Shield--

View fund Invest

Equity LSAggressive

Listed Nifty 500 equity with limited short exposure via derivatives

NAV

Rs 10.18

—

ITD

+1.80%

Alpha Shield--

View fund Invest

Hybrid LSConservative

Income-oriented: arbitrage, covered calls + debt with limited unhedged equity & short via derivatives

NAV

Rs 10.087

—

ITD

+0.86%

Alpha Shield--

View fund Invest

Active Asset AllocatorModerate

Quant-driven tactical allocation with long-short overlay

NAV

Rs 10.5486

+2.57%

—

ITD

+5.37%

Alpha Shield--

View fund Invest

Sector RotationAggressive

Concentrated in 4 of 12 sectors with derivatives short overlay

NAV

Rs 10.2177

+1.42%

—

ITD

+2.08%

Alpha Shield--

View fund Invest

Hybrid LSConservative

Interval hybrid with 25-75% equity, 25-75% debt and <=25% unhedged short via derivatives

NAV

Rs 10.0376

—

ITD

+0.16%

Alpha Shield--

View fund Invest

Equity LSAggressive

Multi-factor quant + macro-driven allocation

NAV

Rs 1,003.3225

+1.17%

—

ITD

+0.33%

Alpha Shield--

View fund Invest

Equity LSAggressive

Long-biased equity (80–100%) with ≤25% unhedged short via derivatives

NAV

Rs 10.1676

+1.47%

—

ITD

+1.28%

Alpha Shield--

View fund Invest

Equity LSAggressive

Long-biased equity strategy across market caps with derivatives overlay

NAV

Rs 10.4136

+5.05%

—

ITD

+4.13%

Alpha Shield--

View fund Invest

Equity Ex-Top 100Aggressive

Mid/small-cap alpha (65–100% ex-top 100) with ≤25% unhedged short via derivatives

NAV

Rs 10.5511

+6.07%

—

ITD

+5.55%

Alpha Shield--

View fund Invest

Hybrid LSNFO

Interval hybrid: 35-75% equity, 25-65% debt, <=25% unhedged short via equity/debt derivatives, BlackRock signal research + Aladdin

NAV

Rs 10.00

—

ITD

—

Alpha Shield--

View fund Invest

Equity LSNFO

Bottom-up equity long-short: 80-100% listed equity with <=25% tactical unhedged short via derivatives

NAV

Rs 10.00

—

ITD

—

Alpha Shield--

View fund Invest

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Team

Built by people who've been on both sides of the table

From Wall Street to family offices to India's newest asset class.

Kiran Dutta

Founder, SIFPrime

Kiran Dutta is the founder of SIFPrime.com — the Morningstar + BSE execution platform for SIFs, the newest asset class in India.

Prior to SIFPrime, Kiran built one of the largest family office networks and helped families deploy $300 million in the VC / PE asset class. He is an alum of Columbia University and has worked on Wall Street and for President Obama's team in Ethiopia.

Columbia University

Wall Street

President Obama's team, Ethiopia

$300M+ deployed in VC / PE

“Give investors highly informative and knowledgeable access to this new asset class, and help distributors build a decent SIF AUM.”

— Kiran's goal for SIFPrime

Got Questions?

Frequently Asked Questions

Common questions about Specialized Investment Funds answered

Source: Information compiled from official SIF websites including Quant SIF, Edelweiss Altiva, ITI Diviniti, SBI Magnum SIF, and Tata Titanium SIF. Please refer to official scheme documents for complete details.

Fund / AMC

Strategy

Category

NAV

1M Return

3M Return

ITD Return

Risk Band

Alpha Shield

Action

Arudha Hybrid Long-Short

Bandhan Mutual Fund

Balanced hybrid with pair-trade hedging

Hybrid

Rs 10.313

+1.62%

+2.20%

+2.78%

Conservative

10.0

India's Premier Specialized Investment Funds Platform

June 2026 SIF Performance Report

Open SIF NFOs

Equity Long-Short Fund

Complete SIF returns scorecard and monthly archives

Explore SIF Funds

Search by fund, AMC, strategy, risk or return.

Built by people who've been on both sides of the table

Kiran Dutta

Frequently Asked Questions

What is a Specialized Investment Fund (SIF)?

What is the minimum investment required for SIF?

What types of investment strategies are allowed under SIF?

How is SIF different from Mutual Funds?

What is the taxation in SIF?

Are there limits on short exposure for SIF strategies?

What is the subscription and redemption frequency?

Can I invest through SIP in SIF?

What happens if my investment value falls below ₹10 lakhs?

Do I need a separate folio for SIF?

What are the risks involved in SIF?

How long should I stay invested in SIF?

India's Premier Specialized Investment Funds Platform

June 2026 SIF Performance Report

Open SIF NFOs

Equity Long-Short Fund

Complete SIF returns scorecard and monthly archives

Explore SIF Funds

Search by fund, AMC, strategy, risk or return.

Built by people who've been on both sides of the table

Kiran Dutta

Frequently Asked Questions

What is a Specialized Investment Fund (SIF)?

What is the minimum investment required for SIF?

What types of investment strategies are allowed under SIF?

How is SIF different from Mutual Funds?

What is the taxation in SIF?

Are there limits on short exposure for SIF strategies?

What is the subscription and redemption frequency?

Can I invest through SIP in SIF?

What happens if my investment value falls below ₹10 lakhs?

Do I need a separate folio for SIF?

What are the risks involved in SIF?

How long should I stay invested in SIF?