Latest NAV
₹9.9324
Apr 30, 2026
1M Return
+15.38%
3M Return
+5.65%
Since Inception
-0.79%
13 Nov 2025
TER
2.10%
Regular plan
Max TER
2.25%
SEBI cap
Mandated exposure outside the top 100 by market cap
Unlike regular equity long-short funds that invest across all caps, this strategy mandates 65–100% in stocks outside the top 100 by market capitalization — a focused mid & small cap SMID exposure. Only 0–35% may go into top 100 large caps. Up to 25% unhedged short via stock/index derivatives adds directional flexibility.
Live NAV data · Source: AMFI NAV API
Trailing returns
1M
+15.38%
3M
+5.65%
6M
—
Since Inception
-0.79%
1Y
—
FYTD
+5.65%
NAV
₹9.93
🛡️ ALPHA SHIELD ANALYSIS
March 2026 Market Crash
When Nifty Midcap 150 fell -11.06% in March 2026, here's how qSIF Ex-Top 100 performed:
Midcap 150
-11.06%
qSIF Ex-Top 100
-6.27%
Alpha vs Benchmark
+4.79%
Capital Protected
43.3%
How qSIF Ex-Top 100 compares in Equity Ex-Top 100:
Rank: #1 of 3 Equity Ex-Top 100 funds(vs Midcap 150)
What This Means:
Limited protection in the March 2026 crash. The fund underperformed relative to what was expected given the benchmark decline.
Investment objective
Generate long-term capital appreciation by investing primarily in equity and equity-related instruments of stocks outside the top 100 by market capitalization, while utilizing limited short exposure through derivatives to enhance returns and manage risk. Benchmarked to NIFTY 500 Total Return Index (TRI). There is no assurance that the investment objective of the strategy will be achieved.
Strategy & allocation
The strategy combines a structurally SMID-concentrated long book (mandated 65–100% in ex-top-100 stocks) with up to 25% unhedged short via derivatives, and up to 50% long F&O for hedged / partially-hedged / fully-hedged constructions. An open-ended design offers daily subscription and redemption at NAV.
Taxation: Equity taxation applies — LTCG 12.5% above ₹1.25L after 12 months; STCG 20% for holdings <12 months. 15-day exit load window (1%), nil thereafter.
Strategy pillars
Core — Ex-Top 100 Longs
65–100% in listed equity outside the top 100 by market cap — focused mid & small cap exposure (SMID)
Top 100 Sleeve (Optional)
0–35% in large caps for tactical balance, liquidity management and dampening SMID volatility
Short Book — Up to 25%
Unhedged short exposure via stock/index futures & options on overvalued names for alpha and hedging
Long Derivatives
Up to 50% long F&O for hedged, partially-hedged and fully-hedged portfolio constructions
Debt & REITs Sleeve
0–35% debt / money market and 0–20% REITs/InvITs for liquidity buffer and cashflow management
Investor suitability
Suitable for
- ✓ HNIs seeking concentrated mid & small cap alpha
- ✓ Investors with 5–7 year horizon
- ✓ Those comfortable with Level 5 (very high) risk
- ✓ Replacement for SMID PMS at lower ticket (₹10L)
Not suitable for
- ✗ Capital-protection / FD-replacement seekers
- ✗ Investors needing <3 year liquidity
- ✗ Below ₹10L investable surplus
- ✗ Low risk-tolerance / first-time equity investors
Fund management team
Sandeep Tandon
Founder & CIO
Lokesh Garg
Fund Manager — Equity
Ankit Pande
Fund Manager — Equity
Sameer Kate
Chief Dealer — Derivatives
Sanjeev Sharma
Fund Manager — Debt