iSIFEquity Ex-Top 100 Long-Short Fundby ICICI Prudential Mutual Fund
Capture SMID alpha with institutional-grade risk management. Long quality mid & small caps, short overvalued names via F&O.
Minimum Investment
₹10 Lakhs
Strategy Type
Equity Long-Short
Benchmark
Nifty 500 TRI
Subscription
Daily
Redemption
T+3 Days
Taxation
Equity LTCG 12.5%
Why SIFs? The Regulatory Innovation
Mutual Funds
Transparency & liquidity but limited derivative flexibility
PMS / AIF
Strategy freedom but ₹50L-₹1Cr ticket size
SIF (Best of Both)
Flexibility + MF governance at ₹10L entry
Operating under SEBI MF Regulations Chapter VI-C • Benchmarked to Nifty 500 TRI
Why Choose iSIF Ex-Top 100?
SMID stocks deliver alpha but with violent drawdowns. This fund captures the upside while managing the downside.
Ex-Top 100 Focus
Invest in quality mid & small caps beyond the top 100, capturing high-growth opportunities often overlooked by large-cap funds
Downside Protection
Up to 25% unhedged short exposure via derivatives acts as a volatility buffer during market corrections
Long-Short Alpha
Go long on quality SMID stocks while shorting overvalued names in the Ex-Top-100 universe for risk-adjusted returns
Global Diversification
Up to 35% exposure in overseas securities including ADRs, GDRs, and foreign equities
Asset Allocation Strategy
Ex-Top-100 Equities
65% - 100%
Large Caps / Debt
0% - 35%
InvITs (Infrastructure)
0% - 20%
Overseas Securities
0% - 35%
Key Exposure Limits
Max Unhedged Short Exposure
Through F&O derivative positions in equity
Cumulative Gross Exposure
Of NAV - strict exposure discipline
Ex-Top-100 F&O Universe
Stocks with active derivatives for shorts
SMID F&O Open Interest
Enables institutional-grade short book
Alpha Generation Engines
Equity arbitrage opportunities
Covered call strategies for income
Index hedging for downside protection
Protective puts during volatility
Bear call/put spreads
Straddles & strangles
IPO/QIP participation
Carry from debt sleeve
Stock Selection Framework
Rigorous bottom-up filters to identify quality SMID opportunities
How Long-Short Works
Long Positions
Quality mid/small caps with strong fundamentals - potential market leaders, strengthening balance sheets, and visible earnings growth.
Core Allocation: 65-100% in Ex-Top-100 equities
Short Positions
Overvalued Ex-Top-100 names via F&O derivatives. 109 stocks with active derivatives enable institutional-grade short book construction.
Max Unhedged Short: 25% of net assets
Dynamic Market Adaptation
| Market | SMID Long | Shorts | Options | Debt |
|---|---|---|---|---|
| Bull Market | Up to 100% | Low | Low | Tactical |
| Bear Market | Min 65% | Up to 35% | High | Defensive |
Target: Risk-Adjusted Returns with Lower Volatility
The fund manager adapts the long-short mix dynamically based on market conditions. 30-day rebalancing rule and 100% gross exposure cap ensure disciplined risk management.
Team Edge
30+
Years CIO Experience
655+
Companies / 24 Sectors Covered
₹1.49L Cr
SMID Exposure Managed
Managed by ICICI Prudential Mutual Fund
ICICI Prudential Mutual Fund brings deep expertise in SMID investing with a proven track record across market cycles. The team applies rigorous fundamental analysis combined with sophisticated derivative strategies to deliver alpha while managing drawdowns. With coverage across 655+ companies and 24 sectors, the fund leverages institutional-grade research for stock selection.
Frequently Asked Questions
Ready to Invest in iSIF?
Capture SMID alpha with institutional-grade risk management. Get in touch with our team to start your investment journey.
Minimum investment: ₹10 Lakhs | Daily subscription | T+3 redemption | Equity LTCG 12.5%