Best SIF Funds India 2026 | Specialized Investment Funds Dashboard

AND Fintech Recommendation — SIF Scorecard

Top 3 per category · Scored on 6 factors

Equity Long-Short (Top 3)

#	Fund	Rating	NAV	Since Inception	3M	TER	Liquidity
1	qsif Equity L/S Quant MF	★★★★☆ 3.99/5	₹10.2795	+2.80% SI	+5.65%	1.55%	Open-ended — any day	Enquire
2	DynaSIF Equity L/S 360 ONE Asset	★★★★☆ 3.85/5	₹10.2002	+2.00% SI	+3.23%	1.50%	Open-ended — any day	Enquire
3	Sapphire Equity L/S Franklin Templeton	★★★☆☆ 3.29/5	₹987.12	-1.29% SI	—	1.80%	Open-ended — any day	Enquire

Hybrid Long-Short (Top 3)

#	Fund	Rating	NAV	Since Inception	3M	TER	Liquidity
1	Altiva Hybrid L/S Edelweiss MF	★★★★☆ 3.92/5	₹10.6604	+6.60% SI	+2.75%	1.50%	Twice a week	Enquire
2	Magnum Hybrid L/S SBI MF	★★★★☆ 3.71/5	₹10.2716	+2.72% SI	+0.74%	1.50%	Fortnightly	Enquire
3	qsif Hybrid L/S Quant MF	★★★★☆ 3.67/5	₹10.3754	+3.75% SI	+4.88%	1.55%	Twice a week	Enquire

Equity Ex-Top 100 (Top 3)

#	Fund	Rating	NAV	Since Inception	3M	TER	Liquidity
1	qsif Ex-Top 100 L/S Quant MF	★★★★☆ 3.76/5	₹9.9724	-0.28% SI	+8.17%	1.55%	Open-ended — any day	Enquire
2	iSIF Ex-Top 100 L/S ICICI Prudential	★★★★☆ 3.61/5	₹9.8600	-1.40% SI	+0.81%	1.45%	Open-ended — any day	Enquire
3	Altiva Ex-Top 100 L/S Edelweiss MF	★★★☆☆ 3.14/5	₹10.1278	+1.28% SI	—	1.60%	Open-ended — any day	Enquire

Sector Rotation (Top 1)

#	Fund	Rating	NAV	Since Inception	3M	TER	Liquidity
1	qsif Sector Rotation L/S Quant MF	★★★☆☆ 3.14/5	₹10.0305	+0.31% SI	—	1.60%	Open-ended — any day	Enquire

Active Asset Allocator (Top 3)

#	Fund	Rating	NAV	Since Inception	3M	TER	Liquidity
1	qsif Active Asset Allocator Quant MF	★★★☆☆ 2.93/5	₹10.1982	+1.98% SI	—	1.55%	Fortnightly	Enquire
2	DynaSIF Active Asset Allocator 360 ONE Asset	★★★☆☆ 2.82/5	₹10.1560	+1.56% SI	—	1.50%	Fortnightly	Enquire
3	iSIF Active Asset Allocator ICICI Prudential	★★★☆☆ 2.65/5	₹10.0231	+0.23% SI	—	1.45%	Fortnightly	Enquire

AND Fintech Recommendation is a distributor opinion. Scoring: Vintage 15% · Since-Inception Return 30% · Consistency 10% · TER 10% · Strategy Clarity 10% · Tax Efficiency 15% · Liquidity 10%. Not SEBI-registered investment advice. ARN-301536 · APRN05170.

AND Fintech · Free SIF Tax Guide

Two funds. Same SEBI category.
Completely different tax treatment.

Within the Hybrid Long-Short category, some SIF funds qualify for the ₹1.25L annual LTCG exemption — and some don't. For an investor in the 30% bracket, choosing the wrong fund can cost ₹10,000+ in extra tax per ₹1 lakh of gains.

The AND Fintech SIF Tax Guide covers:

Which of the 27 SIF funds qualify for ₹1.25L LTCG exemption — and which don't
STCG comparison across all funds: 20% flat vs slab rate (up to 30%)
Annual tax harvesting strategy to legally reduce your LTCG liability
SIF vs Mutual Fund vs FD vs Cat III AIF — complete tax comparison
Corporate treasury: which SIF structure is most tax-efficient?

All SIF Funds — Regular Plan Growth

NAV as on 15-Jun-2026 · Live · Regular Plan only

Category:

qsif Equity L/S

Quant MF · Sandeep Tandon

NAV ₹10.2795

Equity L/S Open-ended High

Since Inception +2.80%

3M Return +5.65%

Regular TER 1.55%

Approach VLRT quant: momentum + mean-reversion + macro short overlay

Style Quantitative / Systematic

Benchmark Nifty 500 TRI

Liquidity Open-ended — any day · Min ₹10L

Altiva Hybrid L/S

Edelweiss MF · Bhavesh Jain & Bharat Lahoti

NAV ₹10.6604

Hybrid L/S Interval Low+

Max net equity: Up to 15%

Since Inception +6.60%

3M Return +2.75%

Regular TER 1.50%

Approach Fixed income + covered calls + straddles + pair trades

Style Conservative / Income-oriented

Benchmark Nifty 50 Hybrid Composite Debt 50:50

Liquidity Twice a week · Min ₹10L

DynaSIF Equity L/S

360 ONE Asset · Harsh Agarwal

NAV ₹10.2002

Equity L/S Open-ended High

Since Inception +2.00%

3M Return +3.23%

Regular TER 1.50%

Approach Diversified equity long + unhedged short via derivatives

Style Multi-strategy / Dynamic

Benchmark Nifty 500 TRI

Liquidity Open-ended — any day · Min ₹10L

qsif Ex-Top 100 L/S

Quant MF · Sandeep Tandon

NAV ₹9.9724

Ex-Top 100 Open-ended Very High

Since Inception -0.28%

3M Return +8.17%

Regular TER 1.55%

Approach SMID & micro-cap equity long + short overlay

Style Quantitative / Systematic

Benchmark Nifty 500 TRI

Liquidity Open-ended — any day · Min ₹10L

Magnum Hybrid L/S

SBI MF · Gaurav Mehta

NAV ₹10.2716

Hybrid L/S Interval Low+

Max net equity: Up to 10%

Since Inception +2.72%

3M Return +0.74%

Regular TER 1.50%

Approach Arbitrage 30–50% + collar strategy 20–30% + debt 25–35%

Style Conservative / Income-oriented

Benchmark Nifty 50 Hybrid Composite Debt 50:50

Liquidity Fortnightly · Min ₹10L

qsif Hybrid L/S

Quant MF · Sandeep Tandon

NAV ₹10.3754

Hybrid L/S Interval Moderate

Max net equity: Up to 65%

Since Inception +3.75%

3M Return +4.88%

Regular TER 1.55%

Approach Gross equity 35–65% + debt 25–65% + VLRT short overlay

Style Quantitative / Systematic

Benchmark Nifty 500 TRI

Liquidity Twice a week · Min ₹10L

iSIF Ex-Top 100 L/S

ICICI Prudential · S Naren & Team

NAV ₹9.8600

Ex-Top 100 Open-ended Very High

Since Inception -1.40%

3M Return +0.81%

Regular TER 1.45%

Approach Defensive SMID: lower volatility vs index + short overlay

Style Fundamental / Active

Benchmark Nifty 500 TRI

Liquidity Open-ended — any day · Min ₹10L

Sapphire Equity L/S

Franklin Templeton · Raghu & Arihant Jain (Franklin Global Active Quant)

NAV ₹987.12

Equity L/S Open-ended High

Since Inception -1.29%

3M Return —

Regular TER 1.80%

Approach Multi-factor smart beta · systematic quant long + short

Style Quantitative / Systematic

Benchmark Nifty 500 TRI

Liquidity Open-ended — any day · Min ₹10L

Arudha Hybrid L/S

Bandhan MF · Bandhan Fixed Income Team

NAV ₹10.2170

Hybrid L/S Interval Low

Max net equity: 0% net equity

Since Inception +2.17%

3M Return +0.71%

Regular TER 1.55%

Approach 65% fixed income + 35% arbitrage · No net equity exposure

Style Fundamental / Long-biased

Benchmark Nifty 50 Hybrid Composite Debt 50:50

Liquidity Twice a week · Min ₹10L

iSIF Hybrid L/S

ICICI Prudential · Rajat Chandak (same as ICICI BAF)

NAV ₹9.9074

Hybrid L/S Open-ended Moderate

Max net equity: Up to 75%

Since Inception -0.93%

3M Return -0.38%

Regular TER 1.45%

Approach Gross equity 65–75% + dynamic derivatives hedging · BAF-style

Style Fundamental / Active

Benchmark Nifty 50 Hybrid Composite Debt 50:50

Liquidity Open-ended — any day · Min ₹10L

Altiva Ex-Top 100 L/S

Edelweiss MF · Nikhil Gada

NAV ₹10.1278

Ex-Top 100 Open-ended Very High

Since Inception +1.28%

3M Return —

Regular TER 1.60%

Approach Concentrated SMID 35–45 stocks (PMS-style) + 10% short/arb

Style Fundamental / Active

Benchmark Nifty 500 TRI

Liquidity Open-ended — any day · Min ₹10L

qsif Sector Rotation L/S

Quant MF · Sandeep Tandon

NAV ₹10.0305

Sector Rotation Open-ended Very High

Since Inception +0.31%

3M Return —

Regular TER 1.60%

Approach Concentrated in 4 of 12 SEBI sectors + derivatives short

Style Quantitative / Systematic

Benchmark Nifty 500 TRI

Liquidity Open-ended — any day · Min ₹10L

Arudha Equity L/S

Bandhan MF · Nilesh Saha

NAV ₹10.0800

Equity L/S Open-ended High

Since Inception +0.80%

3M Return —

Regular TER 1.55%

Approach Diversified equity long + unhedged short via derivatives

Style Fundamental / Long-biased

Benchmark Nifty 500 TRI

Liquidity Open-ended — any day · Min ₹10L

Titanium Equity L/S

Tata MF · Suraj Nanda

NAV ₹10.0128

Equity L/S Open-ended High

Since Inception +0.13%

3M Return —

Regular TER 1.50%

Approach Diversified equity long + unhedged short via derivatives

Style Balanced / Dynamic hedge

Benchmark Nifty 500 TRI

Liquidity Open-ended — any day · Min ₹10L

iSIF Equity L/S

ICICI Prudential · Mittul Kalawadia, Nitya Mishra, Sri Sharma

NAV ₹10.0200

Equity L/S Open-ended High

Since Inception +0.20%

3M Return —

Regular TER 1.45%

Approach Diversified equity long + unhedged short via derivatives

Style Fundamental / Active

Benchmark Nifty 500 TRI

Liquidity Open-ended — any day · Min ₹10L

Arthaya Equity L/S

Union MF · Union MF Equity Team

NAV ₹10.0427

Equity L/S Open-ended High

Since Inception +0.43%

3M Return —

Regular TER 1.60%

Approach Diversified equity long + unhedged short via derivatives

Style Active / Discretionary

Benchmark Nifty 500 TRI

Liquidity Open-ended — any day · Min ₹10L

qsif Active Asset Allocator

Quant MF · Sandeep Tandon

NAV ₹10.1982

Asset Allocator Interval Moderate-High

Since Inception +1.98%

3M Return —

Regular TER 1.55%

Approach Dynamic multi-asset: equity + debt + commodities

Style Quantitative / Systematic

Benchmark Nifty 500 TRI

Liquidity Fortnightly · Min ₹10L

Platinum Hybrid L/S

Mirae Asset MF · Gaurik Shah

NAV ₹10.0270

Hybrid L/S Interval Low+

Max net equity: Up to 10%

Since Inception +0.27%

3M Return —

Regular TER 1.40%

Approach Arbitrage 5–70% + collar strategy 40–70% + debt 25–35%

Style Conservative / Income-oriented

Benchmark Nifty 50 Hybrid Composite Debt 50:50

Liquidity Weekly · Min ₹10L

DynaSIF Active Asset Allocator

360 ONE Asset · Harsh Agarwal

NAV ₹10.1560

Asset Allocator Interval Moderate-High

Since Inception +1.56%

3M Return —

Regular TER 1.50%

Approach Equity 20–50% + debt 20–65% + commodities 0–25% + short 25%

Style Multi-strategy / Dynamic

Benchmark Nifty 500 TRI

Liquidity Fortnightly · Min ₹10L

Titanium Hybrid L/S

Tata MF · Suraj Nanda

NAV ₹9.9184

Hybrid L/S Interval Moderate

Max net equity: Up to 75%

Since Inception -0.82%

3M Return -1.20%

Regular TER 1.50%

Approach Gross equity 65–75% + net equity −25% to 75% + debt 25–35%

Style Balanced / Dynamic hedge

Benchmark Nifty 50 Hybrid Composite Debt 50:50

Liquidity Twice a week · Min ₹10L

iSIF Active Asset Allocator

ICICI Prudential · Ihab Dalwai, Sharmila D'silva, Mohit Sharma, Manish Banthia

NAV ₹10.0231

Asset Allocator Interval Moderate-High

Since Inception +0.23%

3M Return —

Regular TER 1.45%

Approach Equity 35–80% + commodities + debt + yield-enhancing derivatives

Style Active / Discretionary

Benchmark Nifty 500 TRI

Liquidity Fortnightly · Min ₹10L

Apex Hybrid L/S

Aditya Birla SL MF · Lovelish Solanki, Mohit Sharma & Rohit Karan

NAV ₹10.1500

Hybrid L/S Interval Low++

Max net equity: Up to 40%

Since Inception +1.50%

3M Return —

Regular TER 1.45%

Approach Debt 35–65% + arbitrage 0–25% + net equity up to 40%

Style Balanced / Dynamic hedge

Benchmark Nifty 50 Hybrid Composite Debt 50:50

Liquidity Interval — fortnightly · Min ₹10L

Diviniti Equity L/S

ITI MF · Vasav Sahgal (FM) · Rajesh Bhatia (CIO)

NAV ₹917.48

Equity L/S Open-ended High

Since Inception -8.25%

3M Return -6.13%

Regular TER 2.41%

Approach Large-cap pair trades · long quality, short overvalued peers

Style Quantitative / Systematic

Benchmark Nifty 50 TRI

Liquidity Open-ended — any day · Min ₹10L

WSIF Ex-Top 100 L/S

The Wealth Company MF · Chinmay Sathe

NAV ₹9.9873

Ex-Top 100 Open-ended Very High

Since Inception -0.13%

3M Return —

Regular TER 2.47%

Approach SMID & micro-cap equity long + short overlay

Style Active / Discretionary

Benchmark Nifty 500 TRI

Liquidity Open-ended — any day · Min ₹10L

WSIF Equity L/S

The Wealth Company MF · Chinmay Sathe

NAV ₹9.9609

Equity L/S Open-ended High

Since Inception -0.39%

3M Return —

Regular TER 2.47%

Approach Diversified equity long + unhedged short via derivatives

Style Active / Discretionary

Benchmark Nifty 500 TRI

Liquidity Open-ended — any day · Min ₹10L

RedHex Hybrid L/S

HSBC MF · Shriram Ramanathan (CIO FI) & Venugopal Manghat (CIO Equity)

NAV NFO

Hybrid L/S Interval Low+ 🆕 Recently Launched

Max net equity: Up to 25%

Since Inception —

3M Return —

Regular TER 1.50%

Approach Fixed income 65% + arbitrage 35% + covered calls

Style Conservative / Income-oriented

Benchmark Nifty 50 Hybrid Composite Debt 50:50

Liquidity Weekly (10-day notice period) · Min ₹10L

DynaSIF Ex-Top 100 L/S

360 ONE Asset · Harsh Agarwal

NAV NFO

Ex-Top 100 Open-ended Very High 🆕 Recently Launched

Since Inception —

3M Return —

Regular TER —

Approach SMID & micro-cap equity long + short overlay

Style Active / Discretionary

Benchmark Nifty 500 TRI

Liquidity TBC · Min ₹10L

AND FINTECH

SIF Investor Guide 2026

What is SIF · How L/S works · All funds compared · Tax explained

FREE GUIDE

FREE · DELIVERED TO YOUR INBOX

The AND Fintech SIF Investor Guide 2026

Everything you need — what SIF is, how long-short strategies work, tax explained fund-by-fund, and AND Fintech's picks. In plain English.

✓ No spam · ✓ AMFI-compliant · ✓ Unsubscribe anytime

What is a Specialized Investment Fund (SIF)?

India's newest SEBI-regulated investment category — launched April 2025

SIF was introduced by SEBI under the Mutual Fund Amendment Regulations, 2024 — effective April 2025. It operates under the same AMC-level regulatory oversight as mutual funds: daily NAV disclosure, SEBI-mandated reporting, and AMFI registration. Only AMCs with 3+ years track record and ₹10,000 crore+ AUM are authorised to launch SIFs.

The defining feature of SIF is the ability to take unhedged short positions via derivatives — up to 25% of net assets. This means the fund manager can profit from stocks or sectors they believe are overvalued. In a regular mutual fund, the manager can only reduce a position to zero — they cannot actively short it. This opens up return opportunities in flat or falling markets that are unavailable in traditional MF structures.

The minimum investment is ₹10 lakh per investor per AMC at PAN level. This applies across all SIF funds from that AMC. If you invest in two SIFs from the same AMC, the combined minimum is ₹10 lakh, not ₹10 lakh each. SIF is designed for HNI and mass affluent investors — those who want more than a mutual fund but don't have ₹50 lakh for PMS.

SIF tax treatment depends on the fund's equity allocation. Equity-oriented SIFs (≥65% equity): STCG 20% flat, LTCG 12.5% after 12 months, ₹1.25L annual exemption. Hybrid/Other SIFs: STCG at slab rate (up to 30%), LTCG 12.5% after 12 months, no ₹1.25L exemption. Critically, within the same SEBI category (Hybrid Long-Short), some funds are equity-oriented and some are not — which matters significantly for tax planning.

Unlike PMS or AIF, SIF offers daily NAV published by AMFI, monthly portfolio disclosure, and the full regulatory oversight of the mutual fund framework. You can track your investment's value daily. Every fund's strategy is documented in a SEBI-filed ISID (Investment Strategy Information Document) — publicly available. There are no surprises in what the fund is supposed to do.

SEBI has defined exactly 5 SIF investment strategy categories. Hybrid Long-Short: Fixed income + equity derivatives + arbitrage. Equity Long-Short: Primarily equity with short overlay. Equity Ex-Top 100: SMID & micro-cap focus. Sector Rotation: Concentrated in 4 sectors at a time. Active Asset Allocator: Dynamic multi-asset across equity, debt, and commodities. Each AMC can launch only one fund per category — which limits crowding and forces differentiation.

How SIF Compares to Other Investment Categories

Feature	Mutual Fund	SIF	PMS	AIF Cat III
Minimum Investment	₹500	₹10 Lakh	₹50 Lakh	₹1 Crore
Short Selling	✗ No	✓ Up to 25%	✓ Yes	✓ Yes
Daily NAV	✓ Yes	✓ Yes	✗ No	✗ No
Tax at Fund Level	Nil	Nil	Nil	Up to 42.7%
SEBI Regulated	✓ Yes	✓ Yes	✓ Yes	✓ Yes
Strategy Flexibility	Low	Medium-High	High	Very High
Transparency	High	High	Medium	Low

SIF's unique position: PMS-style long-short strategies at mutual fund-level transparency and regulation — at ₹10 lakh. No other Indian investment category offers this combination. Only NISM Series XIII certified distributors — like AND Fintech — are authorised to distribute SIF products.

SIF Tax Guide — Two Groups, One Critical Difference

Understanding tax before you invest can save ₹15,000+ per year

Group A — Equity Tax (17 funds)

STCG (held <12 months)20% flat

LTCG (held >12 months)12.5%

₹1.25L annual exemption✓ Yes — Sec 112A

Holding for LTCG12 months

Includes: All Equity L/S · All Ex-Top 100 · Sector Rotation · iSIF Hybrid · Magnum Hybrid · Platinum Hybrid

Group B — Hybrid Tax (9 funds)

STCG (held <12 months)Slab rate (up to 30%)

LTCG (held >12 months)12.5%

₹1.25L annual exemption✗ No

Holding for LTCG12 months

Includes: Altiva · Apex · Arudha · qsif · Titanium · RedHex Hybrid · All Active Asset Allocators

The ₹1.25L Exemption — What It Saves a 30% Bracket Investor

Scenario	Group A Fund	Group B Fund
LTCG in a year	₹2,00,000	₹2,00,000
Exempt amount	₹1,25,000	Nil
Taxable LTCG	₹75,000	₹2,00,000
Tax at 12.5%	₹9,375	₹25,000
Annual saving (Group A vs B)	₹15,625 per year

Over 5 years of consistent annual tax harvesting: ₹78,125 in cumulative tax savings — from the same investment, just structured more efficiently.

Get the Complete Tax Guide

Fund-by-fund tax table · All 27 SIFs · Free

Which funds qualify for ₹1.25L exemption. Which don't. Delivered to your inbox.

Tax treatment depends on each fund's asset allocation as filed with SEBI and is subject to change. AND Fintech is a registered distributor and not a tax advisor. Please consult a qualified Chartered Accountant before making tax-based investment decisions.

AND Fintech — Certified Across All Four Product Categories

AND Fintech holds all four NISM certifications required to distribute the full spectrum of regulated investment products in India. We are among fewer than 600 distributors nationwide who have cleared the NISM Series XIII examination — the mandatory SEBI-prescribed qualification for SIF distribution.

NISM Series 5A

Mutual Fund Distributors · ARN-301536

NISM Series 21A

Portfolio Management Services · APRN05170

NISM Series 19A

Alternative Investment Funds

NISM Series XIII

SIF Distribution — Common Derivatives

Important Disclosures: AND Fintech (ARN-301536, APMI: APRN05170) is an AMFI-registered Mutual Fund Distributor and an authorised distributor of Specialized Investment Funds. AND Fintech is not a SEBI-Registered Investment Adviser. The AND Fintech Recommendation score is a distributor opinion — it does not constitute investment advice or a guarantee of returns. SIF investments are subject to market risks. Please read all ISIDs carefully before investing. Past performance is not indicative of future results. NAV data sourced from AMFI. Registered office: Thane, Maharashtra.

Specialized Investment Funds —
India's Newest Asset Class

AND Fintech Recommendation — SIF Scorecard

Two funds. Same SEBI category.
Completely different tax treatment.

All SIF Funds — Regular Plan Growth

SIF Investor Guide 2026

The AND Fintech SIF Investor Guide 2026

What is a Specialized Investment Fund (SIF)?

How SIF Compares to Other Investment Categories

SIF Tax Guide — Two Groups, One Critical Difference

Group A — Equity Tax (17 funds)

Group B — Hybrid Tax (9 funds)

The ₹1.25L Exemption — What It Saves a 30% Bracket Investor

Fund-by-fund tax table · All 27 SIFs · Free

AND Fintech — Certified Across All Four Product Categories

Calculators

Specialized Investment Funds —India's Newest Asset Class

AND Fintech Recommendation — SIF Scorecard

Two funds. Same SEBI category.Completely different tax treatment.

All SIF Funds — Regular Plan Growth

SIF Investor Guide 2026

The AND Fintech SIF Investor Guide 2026

What is a Specialized Investment Fund (SIF)?

How SIF Compares to Other Investment Categories

SIF Tax Guide — Two Groups, One Critical Difference

Group A — Equity Tax (17 funds)

Group B — Hybrid Tax (9 funds)

The ₹1.25L Exemption — What It Saves a 30% Bracket Investor

Fund-by-fund tax table · All 27 SIFs · Free

AND Fintech — Certified Across All Four Product Categories

Calculators

Specialized Investment Funds —
India's Newest Asset Class

Two funds. Same SEBI category.
Completely different tax treatment.