Altiva SIF · SIF · SIF-10
Altiva Hybrid Long-Short Fund - Direct Plan - IDCW
Hybrid · Hybrid Long-Short Fund · Interval Fund · Direct IDCW
ISIN (Payout): INF754K30029 ISIN (Reinvest): INF754K30037
Strategy facts
- Declared benchmark
- NIFTY 50 Hybrid Composite Debt 50:50 Index
- Fund managers
- Bhavesh Jain (since Oct 2025), Bharat Lahoti (since Oct 2025), Dhawal Dalal (since Oct 2025), Kedar Karnik (since Jan 2026), Amit Vora (since Jan 2026)
- Launched
- 01 Oct 2025
- Minimum investment
- ₹10 lakh
- Risk level (1 low, 5 high)
- Level 1 (was Level 2 at launch)
- Expense ratio, as filed with AMFI
- Direct Plan - 1.21%, Regular Plan - 2%
Houses fill this field differently. It may be the base expense ratio only, before GST, brokerage and transaction costs.
- Custodian
- Standard Chartered
- SEBI code
- ALTV/I/H/HLSF/25/09/0001/EDEL
- Exit load
- -If the units are redeemed/ switched out on or before 180 days from the date of allotment – 0.50% of the applicable NAV. -If the units are redeemed/switched out after 180 days from the date of allotment – Nil
Investment objective
The primary objective of the investment strategy is to generate capital appreciation through equity and equity related instruments and income through arbitrage, derivatives strategies, special situations and fixed income investments. There is no assurance that the investment objective of the Investment strategy will be achieved.
From AMFI's strategy details and the house's Scheme Summary Document, checked 16 Oct 2026. Strategy document (PDF) Summary document (PDF)
Returns (as of 2026-10-21)
1 Month
-2.12%
3 Months
-1.16%
6 Months
+1.17%
Since Inception
+5.40%
from 2025-10-24
CAGR (Inception)
—
< 1 yr history
Risk Indicators
Max Drawdown
-2.63%
Worst peak‑to‑trough fall since inception
Annualised Volatility
3.75%
How bumpy the daily NAV journey is
Based on 362 days of NAV history. Green < 5% MDD / < 12% vol · Amber 5-10% / 12-20% · Red > 10% / > 20%
Risk-adjusted ratios
Since inception, from 244 daily returns. Short histories make these noisy, so treat them as provisional.
Sharpe ratio
-0.13
Return per unit of total risk, above a 6% risk-free rate
Sortino ratio
-0.14
Same, but counting only the falls
Beta vs Hybrid 50:50 (proxy)
0.36
1.0 moves with the index; lower means more hedged
Down capture
27%
Share of the index's falls it took on down days (lower is better)
Up capture
42%
Share of the index's gains it kept on up days
Worst month
-2.01%
Mar 2026
Best month
2.67%
Apr 2026
Positive months
10 of 12
Completed calendar months that gained
Drawdown recovery
18 days
From the worst low back to the old high
Below its high
-2.59%
How far today's NAV is under the highest NAV so far
Beta and capture use the hybrid 50:50 proxy described under the growth chart, matched on 243 common trading days.
Portfolio · as on 31 Aug 2026
House's portfolio fileStrategy assets
₹9,268 cr
Net assets in the portfolio file
Equity held
38.2%
93 stocks, top 10 = 14.4%
Futures, net
-4.1%
Short -5.7% · long +1.6%
Net equity exposure
34.1%
Equity held plus futures
How the book is built
Option selling: options sold against 33% of NAV; 41% in debt and money market.
Each future and option is matched to the stock it is written on, and coverage is measured by contracts against shares held: the file shows options at their premium, which would make a collar over half the book look like well under 1% of it. This house's file does not say whether its options are calls or puts.
Asset mix, % of net assets
- Equity held +38.2%
- Debt +27.1%
- Cash & TREPS +16.0%
- Money market +13.8%
- REITs & InvITs +6.0%
- Futures -4.1%
- Options -1.4%
- Net receivables +0.3%
Blue bars add to the portfolio, orange bars are short or negative positions.
Top 10 stocks held
| Adani Enterprises Ltd.Metals & Minerals Trading | 2.09% |
| Adani Energy Solutions Ltd.Power | 1.91% |
| Titan Company Ltd.Consumer Durables | 1.51% |
| Indus Towers Ltd.Telecom - Services | 1.50% |
| Grasim Industries Ltd.Cement & Cement Products | 1.47% |
| Shriram Finance Ltd.Finance | 1.37% |
| Coal India Ltd.Consumable Fuels | 1.31% |
| One 97 Communications Ltd.Financial Technology (Fintech) | 1.12% |
| Bharat Heavy Electricals Ltd.Electrical Equipment | 1.07% |
| Mahindra & Mahindra Ltd.Automobiles | 1.06% |
Largest short positions (81 in total)
| Adani Energy Solutions Ltd.Futures | -1.17% |
| Adani Enterprises Ltd.Futures | -1.10% |
| Polycab India Ltd.Futures | -1.00% |
| One 97 Communications Ltd.Futures | -0.62% |
| HDFC Bank Ltd.Futures | -0.43% |
| Bharti Airtel Ltd.Futures | -0.25% |
| Life Insurance Corporation of IndiaFutures | -0.25% |
| Adani Green Energy Ltd.Futures | -0.16% |
| Delhivery Ltd.Futures | -0.10% |
| Steel Authority of India Ltd.Futures | -0.09% |
Stocks held, by industry
Net assets by portfolio date: Aug 2026 ₹9,268 cr · Jan 2026 ₹2,093 cr
From the house's own portfolio statement; SIFs must publish one at least every alternate month-end. Futures are counted at full contract value, so net equity exposure is equity held plus futures. Options are shown at their premium value, not their market exposure, so they are left out of that figure.
Growth of ₹100 since inception
2025-10-24 → 2026-10-21
| Since inception | Return | Max drawdown |
|---|
All rebased to ₹100 at the SIF's inception. SIFs are long-short (hedged) and aim for a smaller max drawdown rather than out-running a fully-invested fund/index in a rising market, so weigh the drawdown column alongside return.
This strategy's declared benchmark is NIFTY 50 Hybrid Composite Debt 50:50 Index, which we don't hold as a daily series. The benchmark line is a Lens-computed stand-in for the CRISIL Hybrid 50+50 Moderate Index: 50% Nifty 200 and 50% Nifty Composite G-Sec, rebalanced daily. CRISIL's own index uses the BSE 200 and its Composite Bond index, whose daily values aren't public. The equity half is a price index, so it leaves out dividends and slightly flatters the strategy.
Fund house's own money in this strategy
| Quarter | Valued on | ₹ crore |
|---|---|---|
| Jul-Sep 2026 | 09 Oct 2026 | 10.81 |
| Apr-Jun 2026 | 10 Jul 2026 | 5.55 |
| Jan-Mar 2026 | 13 Apr 2026 | 0.66 |
What the fund house itself has invested in this strategy, as filed with AMFI each quarter. This is the house's own stake, not the size of the strategy (AUM). AMFI does not publish AUM for individual SIF strategies.
Monthly returns · since inception (Oct 2025)
How each calendar month went: green months gained, red months lost. Deeper colour = bigger move.
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Year |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | +0.1 | +0.2 | -2.0 | +2.7 | +0.7 | +0.9 | +1.3 | +0.7 | -1.3 | -0.7 | · | · | +2.5 |
| 2025 | · | · | · | · | · | · | · | · | · | · | +1.0 | +1.7 | +2.7 |
| Avg | +0.1 | +0.2 | -2.0 | +2.7 | +0.7 | +0.9 | +1.3 | +0.7 | -1.3 | · | +1.0 | +1.7 | · |
All values in %. Each cell compares the last NAV of the month with the last NAV of the month before. The latest month is month-to-date; the Year column compounds the months shown on that row.
Other plans: Altiva SIF · Hybrid Long-Short Fund
Minimum investment ₹10 lakh. SIF data from AMFI. Not investment advice. Verify all information with the fund house before investing.