Mera SIFClient note · facts from the offer documents · checked 6 November 2026
Summit Active Asset Allocator Long-Short
Active Asset Allocator Long-Short · Invesco · Full fund page, with SEBI-format performance
Allocates dynamically across equity, debt and commodity exposure using derivatives, with unhedged short exposure of up to 25% of net assets. Multi-asset and tactical by design.
Key terms
| Minimum investment | ₹10 lakh across all strategies of this SIF, at PAN level (accredited investors exempt; the fund house sets their minimum). Mutual fund holdings do not count. |
|---|---|
| Structure | Interval |
| Subscriptions | Daily, at applicable NAV |
| Redemptions | Twice a week — every Monday and Wednesday (next business day if either is a non-business day) |
| Notice period | None at present; the AMC may introduce one (ISID Section XVII) |
| Cut-off and payout | As set out in the ISID's cut-off rules; not restated here · Within 3 business days of acceptance of the redemption request |
| Exit load | 0.50% if redeemed or switched out on or before 30 days from allotment; 0.25% after 30 and on or before 60 days; nil after 60 days; nil on switches between plans |
| Listed on an exchange | NSE proposed (scrip code to be added after listing, per the ISID) |
| Expense ratio (Regular) | —Regular plan TER |
| Risk band (AMC-declared) | Level 3 of 5, as on 30 October 2026; reviewed monthly |
| Strategy type | Interval investment strategy dynamically investing across equity, debt, equity and debt derivatives, InVITs and commodity derivatives, including limited short exposure on permitted instruments through derivatives. Category: Active Asset Allocator Long-Short Fund |
| Benchmark | 40% Nifty 500 TRI + 40% CRISIL Short Term Bond Fund Index + 20% iCOMDEX Composite Index; benchmark risk band Level 3. Justified in the ISID as an appropriate blend of equity, debt and commodities. The ISID does not describe Tier 1 / Tier 2 benchmarks |
| Asset allocation | Equity and equity related instruments 65%-90% of net assets; Exchange Traded Commodity Derivatives 0%-25%; Units issued by InVITs 0%-20%; Debt and money market instruments 10%-35%; Short exposure through unhedged derivative positions in equity and debt instruments 0%-25% |
| Unhedged short cap | Short exposure through unhedged derivative positions in equity and debt instruments: 0% minimum to 25% maximum of net assets. Derivatives overall: up to 100% of net assets; cumulative gross exposure not to exceed 100% of net assets |
| Accredited investors | The ISID and KIM state a minimum application amount for accredited investors of Rs 1,00,000 and in multiples of Re 1, and that the minimum-investment-threshold requirement "shall not apply to an accredited investor" |
| Notice period | "At present there is no notice period"; the AMC may implement one of up to 15 working days, in which case the redeeming investor receives the NAV at the end of the notice period |
| Re-opening | Investment strategy re-opens for continuous sale and repurchase within 5 business days from the date of allotment |
| Listing | Units proposed to be listed on the capital market segment of NSE within 5 business days from the date of allotment (NSE scrip code to be added after listing). NSE permission letter NSE/LIST/6089 dated 2 June 2026 cited. The AMC/Trustee may list on other exchanges |
| Plans & options | Regular Plan and Direct Plan. Options under each: Growth, and Income Distribution cum Capital Withdrawal (IDCW) with Payout and Reinvestment sub-options. Default option: Growth. Default sub-option: IDCW Reinvestment. IDCW payable under the Payout sub-option of Rs 100 or less is compulsorily reinvested |
| Date of allotment | Not disclosed in the ISID or KIM. The ISID says allotment confirmations are completed within 5 business days of NFO closure |
| First NAV | ISID: first NAV to be disclosed within 5 business days from allotment, then daily. AMFI's NAV history for SIF-177 (Regular Plan - Growth) begins with a NAV dated 4 November 2026 (uploaded 5 November 2026); the next NAV is dated 5 November 2026 (uploaded 6 November 2026) |
| NAV disclosure | Because the strategy may hold exchange traded commodity derivatives, the ISID states that NAV is updated on the SIF and AMFI websites before 9:00 a.m. of the following calendar day (T+1); before 10:00 a.m. on the next business day if overseas securities are held |
| Strategy code | SSIF/O/H/AALS/26/07/0002/INVM |
| AMFI scheme codes | SIF-175 (Direct Plan - Growth), SIF-176 (Direct Plan - IDCW), SIF-177 (Regular Plan - Growth), SIF-178 (Regular Plan - IDCW). Regular Plan - Growth ISIN INF205K30071 |
| Structure | Summit SIF, offered by Invesco Mutual Fund. AMC: Invesco Asset Management (India) Private Limited. Trustee: Invesco Trustee Private Limited. Co-sponsors per KIM: IndusInd International Holdings Limited and Invesco Hong Kong Limited. Registrar: KFin Technologies Ltd |
| Fund manager | Deepak Gupta (sole manager named). No dedicated manager for ETCDs or foreign securities (optional under the SEBI Master Circular); the fund manager is responsible. Other investment strategies managed: Nil |
| Fund managers | Deepak Gupta |
Redemption terms from our liquidity record, checked 3 November 2026; sources: AMFI portal — Investment Strategy Information Document (S-37). Other rows as stated on the fund page, which cites the fund house’s documents. Fund houses change terms by notice-cum-addendum; the latest offer documents govern.
Read before investing
- Key Information Memorandum cum Application Form - Summit Active Asset Allocator Long-Short Fund
- Investment Strategy Information Document (ISID) - Summit Active Asset Allocator Long-Short Fund (AMFI S-37)
- How a Active Asset Allocator Long-Short strategy works, from SEBI’s rules
What your distributor should explain
SEBI asks a distributor to explain, in clear language, before an investment (SEBI FAQs for distributors, C10):
- the relatively higher-risk nature of the product;
- the ₹10 lakh PAN-level threshold and what happens on an active or a passive breach;
- the strategy’s objective, asset allocation, derivatives exposure, risk band and scenario analysis;
- the subscription and redemption frequency, notice period, liquidity-management tools, fees, expenses and exit load, if any.
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.
This note gives facts from public documents; it is not a recommendation and does not say whether the strategy suits you. It shows no performance: see the fund page for figures in SEBI’s format. Trustner Asset Services Pvt. Ltd. (CIN U66301AS2023PTC025505) is an AMFI-registered Mutual Fund & SIF Distributor, ARN-286886, offers the Regular plan and receives commission from the fund house. merasif.com