Choosing a SIF is not the same as choosing the highest return in a table. Two strategies can have different launch dates, market exposures and redemption arrangements. This comparison focuses on those differences rather than declaring a winner from unmatched short histories.
What Is a Specialised Investment Fund?
SIFs are a regulated investment framework for more complex strategies, including long-short approaches. SEBI’s framework took effect on 1 April 2025; that is not the inception date of every strategy. Derivatives and hedging do not guarantee positive returns or prevent capital losses.
What Is the Minimum Investment?
The general threshold is ₹10 lakh aggregated at PAN level across investment strategies of the same SIF, not ₹10 lakh across unrelated AMCs. Accredited investors are exempt from this regulatory threshold, although a strategy can specify its own application minimum. A market-driven fall below the threshold is different from a breach caused by a redemption. Check the current ISID and the AMC’s withdrawal rules before investing.
Sources: SEBI framework, 27 February 2025; SEBI threshold monitoring circular, 29 July 2025; filed strategy document explaining the threshold.
How Do SIF Strategies Differ?
The following are verified examples, not an exhaustive current market list or a ranking. Details were checked on 27 October 2026. Read subsequent addenda before transacting.
| Strategy and primary source | Structure and focus | Benchmark | Inception and dealing details |
|---|---|---|---|
| qsif Equity Long-Short Fund | Open-ended equity strategy with limited derivative short exposure | NIFTY 500 TRI | 7 October 2025. Current AMC page: 3% exit load through 30 days; nil thereafter. No lock-in does not mean cost-free early exit. |
| qsif Equity Ex-Top 100 Long-Short Fund | Open-ended equity strategy focused outside the largest 100 companies, with limited short exposure | NIFTY 500 TRI, as listed by AMC | 12 November 2025. Current AMC page: 3% exit load through 30 days; nil thereafter. |
| Altiva Hybrid Long-Short Fund | Interval hybrid strategy combining equity, arbitrage, derivatives, special situations and fixed income | NIFTY 50 Hybrid Composite Debt 50:50 Index | AMC page lists daily subscriptions and Monday/Wednesday redemptions. Check dealing holidays, current ISID and exit load. Inception date was not readable in the accessed page. |
What Have These SIFs Returned?
A comparable, source-verified return table is not available in this update. The earlier approximate returns and AUM figures have been removed because their plan, measurement dates and periods were not adequately documented. This means missing comparison data, not zero returns.
For a useful comparison, obtain each AMC’s dated factsheet and record:
- The exact strategy, Direct or Regular plan, and Growth or IDCW option.
- The same start and end dates, with returns measured on the same basis.
- Whether a number is an absolute return or annualised return.
- The strategy’s own benchmark over that identical period.
- AUM as of one date, kept separate from monthly average AUM.
- Current expenses and exit loads, plus portfolio and risk-band disclosures.
Do not infer a since-inception return from a displayed NAV alone. Different inception dates mean different market experiences. A short record also cannot establish how a strategy will behave over a full market cycle.
What Should You Check Beyond Returns?
- Exposure: inspect long, short, gross and net positions. A small net exposure does not eliminate leverage, basis, credit or liquidity risks.
- Liquidity: open-ended and interval structures are different. Verify redemption days, notice periods and exit loads rather than assuming all SIFs follow one timetable.
- Purpose: identify the portfolio problem the strategy is meant to solve. A product label is not evidence that it protects capital.
- Fees: compare the correct plan and the same expense disclosure basis.
How Is a SIF Taxed?
Do not use one blanket tax rule for all hybrid SIFs. Treatment depends on the particular strategy’s tax classification, asset composition, listing status and applicable holding-period rules. Obtain its current tax note and consider your circumstances before calculating a post-tax return. This page does not supply a universal tax rate.
Is There One Best SIF?
No ranking is supported by this comparison. Being able to meet the minimum investment is not proof that a strategy suits your liquidity needs or risk capacity. This is educational information, not an allocation recommendation. SIF investments can lose capital; consider advice from a SEBI-registered investment adviser.
Last Updated on 1 week ago by Team Paisaseekho
