Strategy types · a SIF concept, explained from SEBI’s rules.
In one line
A SIF strategy that keeps at least 65% in equity of companies outside the 100 largest by market value, and may short only outside those 100. Up to 35% may sit in the top 100, but never short.
At least 65% must be invested in equity and equity-related instruments of companies outside the top 100 by market capitalisation, identified by AMFI's half-yearly classification (circular para 3.2, table A2; FAQ B10). Unhedged short exposure of up to 25% may be taken only in stocks outside the top 100 (B11, B41), including through index derivatives made up only of mid- and small-cap stocks (B12). The residual 35% may be in top-100 stocks, but not as unhedged shorts (B13).
Sources: SEBI circular on the SIF framework, 27 Feb 2025; SEBI FAQs on SIFs, Parts B and C, 22 Sep 2026
Illustrative example. A ₹100 crore strategy holds ₹70 crore in companies ranked 101 and below, ₹25 crore in large companies and ₹5 crore in cash, and sells mid-cap index futures worth ₹15 crore. It may not short a top-100 stock without holding it.
Live Equity Ex-Top 100 Long-Short strategies (7): Altiva Equity Ex-Top 100 LS, Apex Equity Ex-Top 100 LS, DynaSIF Equity Ex-Top 100 LS, Magnum Equity Ex-Top 100 LS, WSIF Equity Ex-Top 100, iSIF Equity Ex-Top 100 LS, qSIF Equity Ex-Top 100.
It invests at least 65% in equity of companies outside the 100 largest by market capitalisation, using AMFI's half-yearly list, and may take unhedged short positions of up to 25% in stocks other than large caps. It may offer daily redemption.
Explanation only, not a recommendation. Trustner Asset Services Pvt. Ltd. is an AMFI-registered Mutual Fund & SIF Distributor (ARN-286886) and may receive commission from fund houses. Investments in Specialized Investment Fund involves relatively higher risk including potential loss of capital, liquidity risk and market volatility. Please read all investment strategy related documents carefully before making the investment decision.