Apex SIF · SIF · SIF-83
Apex Hybrid Long-Short Fund - Direct - Payout of IDCW
Hybrid · Hybrid Long-Short Fund · Interval Fund · Direct IDCW
ISIN (Payout): INF209K30024 ISIN (Reinvest): INF209K30032
Strategy facts
- Declared benchmark
- NIFTY 50 Hybrid Composite Debt 50:50 Index
- Fund managers
- Lovelish Solanki (since Mar 2026), Mohit Sharma (since Mar 2026), Rohit Karan (since Apr 2026)
- Launched
- 06 Mar 2026
- Minimum investment
- ₹10 lakh
- Risk level (1 low, 5 high)
- Level 1 (was Level 2 at launch)
- Custodian
- Citibank NA
- Exit load
- For redemption/switch-out of units on or before 90 days from the date of allotment: 0.50% of applicable NAV. For redemption/switch-out of units after 90 days from the date of allotment: Nil.
Investment objective
An interval investment strategy investing in arbitrage, long equity, debt, equity and debt derivatives, long short and REITs/InVITs including limited short exposure on permitted instruments through derivatives.
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 2026-10-22)
1 Month
-0.23%
3 Months
+3.86%
6 Months
+6.73%
Since Inception
+7.37%
from 2026-03-30
CAGR (Inception)
—
< 1 yr history
Risk Indicators
Max Drawdown
-0.59%
Worst peak‑to‑trough fall since inception
Annualised Volatility
3.07%
How bumpy the daily NAV journey is
Based on 206 days of NAV history. Green < 5% MDD / < 12% vol · Amber 5-10% / 12-20% · Red > 10% / > 20%
Risk-adjusted ratios
Since inception, from 140 daily returns. Short histories make these noisy, so treat them as provisional.
Sharpe ratio
2.23
Return per unit of total risk, above a 6% risk-free rate
Sortino ratio
3.86
Same, but counting only the falls
Beta vs Hybrid 50:50 (proxy)
0.23
1.0 moves with the index; lower means more hedged
Down capture
16%
Share of the index's falls it took on down days (lower is better)
Up capture
41%
Share of the index's gains it kept on up days
Worst month
-0.10%
Sep 2026
Best month
2.61%
Jul 2026
Positive months
5 of 7
Completed calendar months that gained
Drawdown recovery
Not yet
0 days since the worst low
Below its high
-0.59%
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 139 common trading days.
Portfolio · as on 30 Sep 2026
House's portfolio fileStrategy assets
₹354 cr
Net assets in the portfolio file
Equity held
42.2%
82 stocks, top 10 = 18.7%
Futures, net
+0.0%
Short 0.0% · long +0.0%
Net equity exposure
42.2%
Equity held plus futures
How the book is built
Light equity, little hedging; 29% 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.
Asset mix, % of net assets
- Equity held +42.2%
- Debt +22.4%
- Cash & TREPS +18.7%
- Fund units +10.0%
- Money market +7.0%
- Net receivables -1.4%
- REITs & InvITs +1.0%
Blue bars add to the portfolio, orange bars are short or negative positions.
Top 10 stocks held
| UPL Ltd.Fertilizers & Agrochemicals | 5.16% |
| Reliance Industries Ltd.Petroleum Products | 3.17% |
| ICICI Bank Ltd.Banks | 3.09% |
| HDFC Bank Ltd.Banks | 2.27% |
| Knowledge Realty TrustRealty | 1.02% |
| Swiggy Ltd.Retailing | 0.90% |
| Kotak Mahindra Bank Ltd.Banks | 0.82% |
| Bharat Forge Ltd.Auto Components | 0.82% |
| INDO-MIM Ltd.Industrial Manufacturing | 0.74% |
| Axis Bank Ltd.Banks | 0.67% |
Largest short positions
No short derivative positions on this date.
Stocks held, by industry
Net assets by portfolio date: Sep 2026 ₹354 cr · Aug 2026 ₹176 cr · Jul 2026 ₹107 cr · Jun 2026 ₹81 cr · May 2026 ₹76 cr · Apr 2026 ₹71 cr · Mar 2026 ₹63 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
2026-03-30 → 2026-10-22
| 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 | 13 Oct 2026 | 0.31 |
| Apr-Jun 2026 | 08 Jul 2026 | 0.10 |
| Jan-Mar 2026 | 09 Apr 2026 | 0.10 |
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 (Mar 2026)
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 | · | · | · | +0.4 | +0.5 | +1.9 | +2.6 | +2.1 | -0.1 | -0.2 | · | · | +7.4 |
| Avg | · | · | · | +0.4 | +0.5 | +1.9 | +2.6 | +2.1 | -0.1 | · | · | · | · |
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: Apex 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.