DynaSIF by 360 ONE Mutual Fund
DynaSIF Active Asset Allocator Long-Short Fund
An interval investment strategy dynamically investing across equity, debt, equity and debt derivatives, InVITs and commodity derivatives, including limited short exposure through derivatives.
by 360 ONE Asset Management Limited (formerly IIFL Asset Management)
₹10L
Min Investment
2.00%
Max TER
0.50%
Exit Load (≤3m)
Level 2
Risk Band
T+3
Redemption
Interval
Fund Type
NFO Information
NFO Open Date
March 6, 2026
NFO Close Date
March 20, 2026
Re-opens
March 30, 2026
NFO Price
₹10 per unit
Benchmark: 25% BSE SENSEX TRI + 60% CRISIL Short Term Bond Fund Index + 15% iCOMDEX Composite Index
SEBI Strategy Code: DYNA/I/H/AALS/25/12/0002/360O
Multi-Asset Active Allocation Strategy
Equity
Large & midcap bias, sector agnostic. Dynamic allocation based on macro conditions.
Debt & Money Market
T-bills, govt bonds, corporate bonds, CDs, CPs. Active duration calls.
Commodity Derivatives
Gold, silver, SEBI-permitted ETCDs. Options and futures strategies.
InVITs
Infrastructure Investment Trusts for dividend yield and asset growth.
Asset Allocation Matrix
| Component | Min % | Max % |
|---|---|---|
| Equity & Equity-Related | 20% | 50% |
| Debt & Money Market | 20% | 65% |
| — Short Exposure (Unhedged) | 0% | 25% |
| Commodity Derivatives (ETCDs) | 0% | 25% |
| InVITs | 0% | 20% |
| Hedging (Derivatives) | 0% | 100% |
| Overseas Securities / ETFs | 0% | 20% |
Note: Cumulative gross exposure (equity + debt + derivatives + InVITs + commodities) must not exceed 100% of net assets. Securities Lending: up to 20% NAV; max 5% per single counterparty.
Fund Management Team — Three-Specialist Structure
Mr. Harsh Agarwal
Fund Manager — Equity
- ~20 years buy-side experience
- Head of Alt Strategies at Tata AMC — peak AUM >₹3,000 Cr
- MBA (Symbiosis), CPM & CTM (ICFAI), NISM XIX-C
- Long-short equity, Cat III AIF portfolio mgmt
Mr. Milan Mody
Fund Manager — Debt
- 20+ years fixed income experience
- Previously at ITI AMC, Darashaw, Birla Sunlife
- MBA Finance, B.Com
- Duration management, corporate bonds, money market
Mr. Rahul Khetawat
Fund Manager — Commodity
- 14+ years multi-asset experience
- Previously at Edelweiss, Marwadi Share & Finance
- PGDM, M.Com (Pre)
- ETCDs (gold, silver), forex, risk management
Short & Derivative Strategies
Exchange-traded equity/debt derivatives only (SEBI circular Feb 27, 2025). Single stock short ~5% limit; sector ~20%.
| Strategy | Description |
|---|---|
| Covered Calls | Yield enhancement on existing equity positions |
| Protective Puts | Downside protection for equity portfolio |
| Index Hedges | Broad market risk reduction via Nifty/Bank Nifty |
| Sector Long-Short | Relative value trades across sectors |
| Pairs Trading | Market-neutral strategies on correlated stocks |
| Merger Arbitrage | Event-driven positioning in corporate actions |
Risk Assessment Matrix
MEDIUM-HIGH
Market Risk
HIGH
Derivatives Risk
MEDIUM
Liquidity Risk
HIGH
Commodity Risk
MEDIUM
Credit Risk
LOW–MED
Currency Risk
Key Risk Factors
Cost Structure & Fees
2.00%
Max TER (Regular)
NIL
Entry Load
0.50%
Exit Load (≤3 months)
0.005%
Stamp Duty
| Parameter | Details |
|---|---|
| SIP (min) | ₹20,000/month; min 6 months (monthly) or ₹50,000/quarter |
| STP (min) | ₹20,000/month; min 6 months. Inter-DynaSIF strategy only. |
| SWP | Not allowed |
| Redemption Payout | Within 3 working days from end of Notice Period |
| IDCW Payout | Within 7 working days from record date |
| Notice Period | 7 working days before next Monday redemption |
Tax Treatment
| Holding Period | Tax Rate | Notes |
|---|---|---|
| > 12 months (LTCG) | 12.5% | Section 112A |
| < 12 months (STCG) | 20% | Section 111A |
| IDCW (Dividend) | Slab Rate | Taxable at income slab rates; 10% TDS above ₹5,000 |
Rates subject to surcharge and 4% health & education cess. Non-residents may be taxed at different rates. Consult your tax advisor.
Redemption & Interval Mechanics — Key Constraint
Interval Fund — NOT Open-Ended
Redemptions are only allowed on Mondays during Specified Transaction Periods, with a mandatory 7-day advance notice. This is a significant constraint vs open-ended SIF peers. Units are listed on NSE for secondary market exit but trading liquidity is not guaranteed.
Subscription
Daily
Business days only
Redemption
Mondays Only
7-day notice required
Payout
T+3 Days
From end of notice period
Secondary Exit
NSE Listed
Liquidity not guaranteed
Who Should Invest?
Ideal For
- HNI / UHNI investors with ₹10 lakh+ to deploy
- Seeking multi-asset diversification (equity + debt + commodities) in one strategy
- Comfortable with interval fund structure (weekly Monday redemption)
- 3–5 year+ investment horizon
- Want lower volatility than pure equity via active cross-asset allocation
- SEBI Accredited Investors eligible at ₹1 lakh minimum
NOT Suitable If
- You need daily liquidity — redemptions only on Mondays
- You need capital protection or guaranteed returns
- Commodity derivative exposure makes you uncomfortable
- Short investment horizon (less than 2–3 years)
- US / Canadian residents (regulatory restrictions apply)
- Cannot tolerate NAV drawdowns from derivative positions
Investment Thesis
Key Strengths
- Risk Band Level 2 — among the lowest risk SIFs; suitable for conservative HNI portfolios
- True multi-asset mandate: equity + debt + commodity derivatives — no comparable SIF peer
- Specialist three-manager structure with complementary expertise
- Mr. Agarwal's Cat III AIF pedigree from Tata AMC (₹3,000 Cr peak AUM)
- 2.00% TER ceiling — slightly below pure equity long-short SIF peers
- Accredited investor entry at ₹1 lakh broadens the addressable client base
Key Risks / Concerns
- No track record: brand-new strategy with zero performance history
- Interval fund structure — weekly Monday redemption with 7-day notice is a major constraint
- Commodity derivatives complexity adds new dimension of execution risk
- Three-manager coordination risk: no DynaSIF platform track record exists
- ₹10 lakh minimum threshold risk — forced redemption if value dips below
Frequently Asked Questions
Important Disclaimer
This analysis is for informational purposes only and does not constitute investment advice or a recommendation to buy, sell, or hold any investment. SIF Prime is an AMFI Registered distributor and does not provide personalized financial advice. Past performance is not indicative of future results. Mutual fund investments are subject to market risks. Read all scheme-related documents carefully before investing. The SIF framework is new and subject to regulatory changes. Short-selling involves theoretically unlimited risk. Please consult your financial advisor before making investment decisions. The rating and analysis represent SIF Prime's independent assessment based on publicly available information.
Interested in DynaSIF Active Asset Allocator?
NFO closes March 20, 2026. Contact our team for detailed investment guidance and documentation.
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