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TrustnerMeraSIF
NAVs AS ON 30 SEP 2026PUBLISHED 18 OCT 2026
SEPTEMBER 2026 · SIF PERFORMANCE REPORT

September split the
category by strategy.

Every equity long-short strategy with a full month closed lower. Five of eleven hybrids rose. Thirty strategies, measured on official month-end NAVs.

Strategies with a full month
30 of 33 tracked
Rose · fell
7 · 23
Median return for the month
−2.03%
Range across strategies
−6.40% to +16.76%
CATEGORY MEDIAN FOR THE MONTHRegular plan · absolute, not annualised
Hybrid Long-Short
−0.19%
5 of 11 rose
Equity Long-Short
−4.08%
0 of 10 rose
Equity Ex-Top 100 Long-Short
−2.70%
1 of 5 rose
Active Asset Allocator
−0.89%
1 of 3 rose
Sector Rotation Long-Short
−0.12%
0 of 1 rose
INSIDE THIS REPORT
02The month at a glanceWhere every strategy landed, and the month against the quarter
03Category viewFive strategy types on one axis
04Every strategyOne table, by category, with 3 and 6 months and since inception
05Month by monthTwelve months of calendar-month returns
06What the strategies ownThe most widely held companies, from disclosed portfolios
07Launches, pipeline and flowsNew NAVs, open offers and AMFI's category count
08Method, sources and limitsHow every number here is built
For information and education only — not investment advice, research or a recommendation. Strategies are grouped by SEBI category and listed by launch date; this report does not rank them. Past performance may or may not be sustained in future. Investments in Specialized Investment Funds are subject to market risks; read all scheme-related documents carefully.
Published by Trustner Asset Services Pvt. Ltd. · AMFI-registered Mutual Fund & SIF Distributor · ARN-286886 · merasif.com
MeraSIF
SEPTEMBER 2026 · SIF Performance Report
02 / 08
THE MONTH AT A GLANCE

Where the 30 strategies landed

One square is one strategy, placed in the band its September return fell into and coloured by SEBI category. The picture shows breadth and spread; it does not name or order individual strategies.

−7 to −6
−6 to −5
−5 to −4
−4 to −3
−3 to −2
−2 to −1
−1 to +0
+0 to +1
⋯
+13 to +14
⋯
+16 to +17
Hybrid Long-ShortEquity Long-ShortEquity Ex-Top 100 Long-ShortActive Asset AllocatorSector Rotation Long-Short

What the official NAVs say

September against the quarter

12
Fell in September, higher over 3 months
5
Rose in September, higher over 3 months
10
Fell in September, lower over 3 months
0
Rose in September, lower over 3 months

27 strategies have both a full September and a NAV on 30 Jun 2026. One square is one strategy, coloured by category.

Regular plan · Growth option · absolute returns, not annualised · official AMFI NAVs, 31 Aug 2026 to 30 Sep 2026. Past performance may or may not be sustained in future. Trustner Asset Services Pvt. Ltd. · AMFI-registered Mutual Fund & SIF Distributor · ARN-286886 · merasif.com
MeraSIF
SEPTEMBER 2026 · SIF Performance Report
03 / 08
CATEGORY VIEW

The same month, five strategy types

SEBI defines the strategy types a SIF may run. They carry different amounts of equity and hedging, so a month rarely treats them alike. Read each row against its own category, not against the others.

−7%−5%−3%−1%+1%+3%+5%+7%+9%Hybrid LS5 of 11 rose · median −0.19%▸ +16.76%Equity LS0 of 10 rose · median −4.08%Equity Ex-Top 100 LS1 of 5 rose · median −2.70%Active Asset Allocator1 of 3 rose · median −0.89%▸ +13.62%Sector Rotation LS0 of 1 rose · median −0.12%

Each dot is one strategy's return for the month; the dark tick is the category median. Values beyond the axis are printed at the right edge.

CategoryTrackedFull monthRoseMedian SepLowestHighestMedian 3MMedian since inception
Hybrid Long-Short11115 of 11−0.19−3.42+16.76+1.53+3.15
Equity Long-Short11100 of 10−4.08−6.40−1.67−3.01+0.89
Equity Ex-Top 100 Long-Short751 of 5−2.70−4.80+0.24+0.60+2.76
Active Asset Allocator331 of 3−0.89−1.58+13.62+1.77+4.17
Sector Rotation Long-Short110 of 1−0.12−0.12−0.12+0.45+2.43

Medians, not averages, so one unusual strategy cannot move a category. "Lowest" and "Highest" are the ends of the range, shown as a measure of dispersion. A category with one or two strategies is a description of those strategies, not of a strategy type. Figures in %.

What the rule allows each type to hold

Hybrid Long-Short
Defined equity and debt bands
The largest type by assets
Equity Long-Short
At least 80% in equity
The most equity of the five
Equity Ex-Top 100 Long-Short
At least 65% in stocks ranked below the top 100 by market value
Mid- and small-company exposure
Active Asset Allocator
Moves between equity, debt and commodities
The widest mandate
Sector Rotation Long-Short
At least 80% in equity, across up to four sectors
The most concentrated mandate

From SEBI's SIF framework (circular of 27 February 2025). Every type may take short exposure through unhedged derivatives up to 25% of net assets. How much of that room a manager uses differs strategy by strategy — the portfolio pages show it.

Regular plan · Growth option · absolute returns, not annualised · official AMFI NAVs, 31 Aug 2026 to 30 Sep 2026. Past performance may or may not be sustained in future. Trustner Asset Services Pvt. Ltd. · AMFI-registered Mutual Fund & SIF Distributor · ARN-286886 · merasif.com
MeraSIF
SEPTEMBER 2026 · SIF Performance Report
04 / 08
EVERY STRATEGY

All 33 strategies, by category

Strategy · fund houseFirst NAVStatusSep 20263 months6 monthsSince inception
Hybrid Long-Short11 strategies · listed by first NAV date
qSIF Hybrid Long-ShortQuant20 Oct 2025+16.76+22.39+31.12+28.19
Altiva Hybrid Long-ShortEdelweiss24 Oct 2025−0.79+1.96+7.59+9.48
Magnum Hybrid Long-ShortSBI29 Oct 2025−2.38−0.68+3.49+3.08
Titanium Hybrid Long-ShortTata17 Dec 2025−2.99−1.89+5.45−1.30
Arudha Hybrid Long-ShortBandhan4 Feb 2026+0.30+0.89+3.00+3.85
iSIF Hybrid Long-ShortICICI Prudential5 Feb 2026−3.42+1.53+11.99+3.15
Apex Hybrid Long-ShortAditya Birla SL30 Mar 2026−0.19+4.34+6.97+7.18
Platinum Hybrid Long-ShortMirae Asset11 Jun 2026under 6 mo−1.52−0.28—+0.51
RedHex Hybrid Long-ShortHSBC25 Jun 2026under 6 mo+0.46+1.95—+2.32
Infinity Hybrid Long-ShortKotak Mahindra9 Jul 2026under 6 mo+0.13——+3.40
Prism Hybrid Long-Short FundJio BlackRock23 Jul 2026under 6 mo+0.44——+2.22
Equity Long-Short11 strategies · listed by first NAV date
qSIF Equity Long-ShortQuant8 Oct 2025−1.67+3.50+22.73+8.80
Diviniti Equity Long-ShortITI3 Dec 2025−6.40−6.55−7.74−12.95
DynaSIF Equity Long-Short360 ONE27 Feb 2026−4.79−3.01+6.18+1.45
Arudha Equity Long-ShortBandhan30 Mar 2026−4.01−1.60+2.70+0.89
Sapphire Equity Long-ShortFranklin Templeton29 Apr 2026under 6 mo−5.56−4.46—−4.42
WSIF Equity Long-ShortThe Wealth Company11 May 2026under 6 mo−4.80−3.22—+0.47
Titanium Equity Long-ShortTata20 May 2026under 6 mo−3.83+0.53—+1.77
Arthaya Equity Long-ShortUnion29 May 2026under 6 mo−2.97−3.54—−2.86
iSIF Equity Long-ShortICICI Prudential8 Jun 2026under 6 mo−3.13+3.64—+5.40
Summit Equity Long-Short FundInvesco24 Jul 2026under 6 mo−4.16——+1.40
Apex Equity Long-ShortAditya Birla SL1 Sep 2026under 6 mo first NAV 1 Sep———−2.00
Equity Ex-Top 100 Long-Short7 strategies · listed by first NAV date
qSIF Equity Ex-Top 100Quant13 Nov 2025−1.28+8.54+32.01+12.98
iSIF Equity Ex-Top 100 LSICICI Prudential5 Feb 2026−2.70+0.60+12.11+0.90
WSIF Equity Ex-Top 100The Wealth Company11 May 2026under 6 mo−4.51−2.14—+2.76
Altiva Equity Ex-Top 100 LSEdelweiss10 Jun 2026under 6 mo−4.80+0.57—+6.27
DynaSIF Equity Ex-Top 100 LS360 ONE29 Jun 2026under 6 mo+0.24+10.97—+11.47
Apex Equity Ex-Top 100 LSAditya Birla SL1 Sep 2026under 6 mo first NAV 1 Sep———−0.70
Magnum Equity Ex-Top 100 LSSBI2 Sep 2026under 6 mo first NAV 2 Sep———−1.88
Active Asset Allocator3 strategies · listed by first NAV date
DynaSIF Active Asset Allocator360 ONE30 Mar 2026−0.89+1.16+3.97+4.17
qSIF Active Asset AllocatorQuant24 Apr 2026under 6 mo+13.62+23.94—+30.32
iSIF Active Asset AllocatorICICI Prudential8 Jun 2026under 6 mo−1.58+1.77—+2.53
Sector Rotation Long-Short1 strategy · listed by first NAV date
qSIF Sector Rotation Long-ShortQuant18 May 2026under 6 mo−0.12+0.45—+2.43

Returns in %, absolute and not annualised. Sep 2026 = 31 Aug 2026 to 30 Sep 2026; 3 months from 30 Jun 2026; 6 months from 31 Mar 2026; since inception is measured from the NFO face value. A dash means the strategy has no NAV at the start of that window. Strategies under six months old are flagged: SEBI's advertisement format shows no performance for them, and a few months of returns say little about a strategy.

Regular plan · Growth option · absolute returns, not annualised · official AMFI NAVs, 31 Aug 2026 to 30 Sep 2026. Past performance may or may not be sustained in future. Trustner Asset Services Pvt. Ltd. · AMFI-registered Mutual Fund & SIF Distributor · ARN-286886 · merasif.com
MeraSIF
SEPTEMBER 2026 · SIF Performance Report
05 / 08
TWELVE MONTHS

Month by month

One month is a single frame. This grid shows every full calendar month each strategy has completed, from official month-end NAVs.

StrategyOct
25		Nov
25		Dec
25		Jan
26		Feb
26		Mar
26		Apr
26		May
26		Jun
26		Jul
26		Aug
26		Sep
26
Hybrid Long-Short
qSIF Hybrid Long-Short−0.5−0.2−1.4+0.4−1.0+6.8−1.1+1.5+3.1+1.6+16.8
Altiva Hybrid Long-Short+0.9+1.6+0.0+0.6−1.6+3.1+1.1+1.3+1.7+1.1−0.8
Magnum Hybrid Long-Short+1.2+0.9−0.9+0.7−2.2+2.2+0.6+1.3+0.9+0.9−2.4
Titanium Hybrid Long-Short−1.2+1.3−7.0+5.4+0.4+1.6+0.6+0.6−3.0
Arudha Hybrid Long-Short+0.1+0.3+0.2+1.6+0.4+0.2+0.3
iSIF Hybrid Long-Short−7.4+7.3−0.1+2.9+3.1+2.0−3.4
Apex Hybrid Long-Short+0.3+0.4+1.8+2.5+2.0−0.2
Platinum Hybrid Long-Short+0.9+0.4−1.5
RedHex Hybrid Long-Short+0.7+0.8+0.5
Infinity Hybrid Long-Short+1.5+0.1
Prism Hybrid Long-Short Fund+1.3+0.4
Equity Long-Short
qSIF Equity Long-Short−0.3−0.7−3.4+0.7−9.1+13.5+2.0+2.4+4.1+1.1−1.7
Diviniti Equity Long-Short−1.4−1.5−3.1+0.6−4.0+2.3+0.2−0.4−6.4
DynaSIF Equity Long-Short−4.5+6.5+1.2+1.6+2.0−0.2−4.8
Arudha Equity Long-Short+3.3−1.0+2.0+2.3+0.2−4.0
Sapphire Equity Long-Short−1.0+1.0+0.9+0.2−5.6
WSIF Equity Long-Short+4.9+2.4−0.7−4.8
Titanium Equity Long-Short+1.1+3.2+1.3−3.8
Arthaya Equity Long-Short+0.8+0.6−1.2−3.0
iSIF Equity Long-Short+2.9+3.9−3.1
Summit Equity Long-Short Fund+3.4−4.2
Apex Equity Long-Short
Equity Ex-Top 100 Long-Short
qSIF Equity Ex-Top 100−1.6−4.8−1.0−7.7+15.2+1.3+4.1+7.6+2.2−1.3
iSIF Equity Ex-Top 100 LS−8.7+8.8+1.1+1.3+2.9+0.5−2.7
WSIF Equity Ex-Top 100+5.7+1.9+0.6−4.5
Altiva Equity Ex-Top 100 LS+2.1+3.5−4.8
DynaSIF Equity Ex-Top 100 LS+4.2+6.2+0.2
Apex Equity Ex-Top 100 LS
Magnum Equity Ex-Top 100 LS
Active Asset Allocator
DynaSIF Active Asset Allocator+0.9+0.5+1.4+0.9+1.2−0.9
qSIF Active Asset Allocator+2.6+2.4+8.1+0.9+13.6
iSIF Active Asset Allocator+2.2+1.2−1.6
Sector Rotation Long-Short
qSIF Sector Rotation Long-Short+1.3−1.0+1.6−0.1

% return for each calendar month, Regular plan, absolute. Blank = the strategy did not have a NAV at the start of that month. Colour deepens up to ±8%.

Regular plan · Growth option · absolute returns, not annualised · official AMFI NAVs, 31 Aug 2026 to 30 Sep 2026. Past performance may or may not be sustained in future. Trustner Asset Services Pvt. Ltd. · AMFI-registered Mutual Fund & SIF Distributor · ARN-286886 · merasif.com
MeraSIF
SEPTEMBER 2026 · SIF Performance Report
06 / 08
INSIDE THE PORTFOLIOS

What the strategies own

Returns say what happened; portfolios say why two strategies with the same label can behave differently. We read every AMC's published portfolio statement and match the holdings by ISIN.

34
portfolios with a disclosed equity book
1,813
long equity lines read
520
distinct companies held
31 Aug 2026 – 30 Sep 2026
statement dates (each AMC's latest)

Held by the most strategies

CompanySectorHeld byAverage weight where heldLargest single weight
HDFC BankBanks23 of 343.33%8.10%
ICICI BankBanks23 of 343.33%8.31%
Axis BankBanks23 of 341.72%3.92%
Reliance IndustriesPetroleum Products22 of 342.62%9.39%
Bharti AirtelTelecom - Services21 of 342.25%6.78%
Mahindra & MahindraAutomobiles21 of 341.77%3.55%
Life Insurance Corporation of IndiaInsurance18 of 341.98%5.20%
State Bank of IndiaBanks18 of 341.62%4.01%
Maruti SuzukiAutomobiles17 of 341.16%2.79%
Bajaj FinanceFinance16 of 341.39%3.15%
Kotak Mahindra BankBanks14 of 341.71%5.03%
Larsen & ToubroConstruction14 of 341.44%3.38%
Indus TowersTelecom - Services13 of 343.00%9.47%
EternalRetailing13 of 341.52%3.76%
Sun Pharmaceutical IndustriesPharmaceuticals & Biotechnology13 of 341.31%5.68%

How concentrated the equity books are

Hybrid Long-Short
19.8%
median top-10 weight · 11 portfolios
Equity Long-Short
29.1%
median top-10 weight · 12 portfolios
Equity Ex-Top 100 Long-Short
32.5%
median top-10 weight · 7 portfolios
Active Asset Allocator
29.0%
median top-10 weight · 3 portfolios
Sector Rotation Long-Short
62.5%
median top-10 weight · 1 portfolio

Long positions in listed equity only; short and derivative exposure is excluded. A company being widely held is a description of the disclosed portfolios, not a view on the company, and not a recommendation to buy or sell any security. SEBI requires SIF portfolios on alternate month-ends, so statement dates differ between fund houses. The full, searchable set is at merasif.com/holdings.html.

Regular plan · Growth option · absolute returns, not annualised · official AMFI NAVs, 31 Aug 2026 to 30 Sep 2026. Past performance may or may not be sustained in future. Trustner Asset Services Pvt. Ltd. · AMFI-registered Mutual Fund & SIF Distributor · ARN-286886 · merasif.com
MeraSIF
SEPTEMBER 2026 · SIF Performance Report
07 / 08
NEW SUPPLY

Launches and the pipeline

A strategy enters the tables in this report once it has a full calendar month of official NAVs. Offer dates come from each AMC's own documents; the live register is at merasif.com/nfo-monitor.html.

First official NAVs since 31 Aug 2026

  • Apex Equity Long-ShortAditya Birla SL · Equity Long-Short · first NAV 1 Sep 2026
  • Apex Equity Ex-Top 100 LSAditya Birla SL · Equity Ex-Top 100 Long-Short · first NAV 1 Sep 2026
  • Magnum Equity Ex-Top 100 LSSBI · Equity Ex-Top 100 Long-Short · first NAV 2 Sep 2026
  • Altiva Equity Long-ShortEdelweiss · Equity Long-Short · first NAV 5 Oct 2026
  • Titanium Active Asset Allocator Long-ShortTata · Active Asset Allocator · first NAV 16 Oct 2026

Open for subscription now

  • Summit Active Asset Allocator Long-Short FundInvesco · Active Asset Allocator LS · NFO 12 Oct 2026 to 26 Oct 2026
  • Eminence Hybrid Long-Short FundAlphaGrep Mutual Fund · Hybrid Long-Short · NFO 14 Oct 2026 to 28 Oct 2026

Offer closed, first NAV awaited

  • MSIF Equity Long-Short FundMahindra Manulife · NFO closed 14 Oct 2026

Announced or filed

ASSETS AND FLOWS

The category, by AMFI's count

₹38,287 Cr
category assets, month-end
₹7,578 Cr
net inflow in the month
1,56,483
investor folios
62.6%
of assets in hybrid long-short

September 2026 is the latest month AMFI has published (AMFI monthly SIF report). AMFI's report for September is due around the 10th of the following month; we carry the published month rather than estimate.

GO DEEPER
Live trackerEvery strategy, official NAVs daily, Regular and DirectCompare toolUp to five strategies side by side, with portfolio overlapHoldingsWhat the strategies own, and how much two of them overlapNFO registerOpen offers, close dates and first NAVsOne-page sheetThe daily return grid, built to forwardMeraSIF MonthlyThe month in launches, regulation and flows
Regular plan · Growth option · absolute returns, not annualised · official AMFI NAVs, 31 Aug 2026 to 30 Sep 2026. Past performance may or may not be sustained in future. Trustner Asset Services Pvt. Ltd. · AMFI-registered Mutual Fund & SIF Distributor · ARN-286886 · merasif.com
MeraSIF
SEPTEMBER 2026 · SIF Performance Report
08 / 08
HOW THIS REPORT IS BUILT

Method, sources and limits

Sources

  • NAVs. AMFI's official SIF NAV feed and history, Regular plan, Growth option, by scheme code. Month-end NAVs used: 31 Aug 2026 and 30 Sep 2026.
  • Portfolios. Each AMC's own published portfolio statement; fund name and date read from inside the file.
  • Launch dates. AMC offer documents and AMFI strategy documents.
  • Category assets and flows. AMFI's monthly SIF report.

Calculation

  • Monthly return = month-end NAV ÷ previous month-end NAV − 1. No NAV is substituted for a missing baseline; a strategy without one is shown with a dash and left out of counts and medians.
  • Three- and six-month returns run from the month-end NAV three and six months earlier. Since inception runs from the NFO face value.
  • All returns are absolute. Nothing in this report is annualised.
  • Category figures are medians. Counts of "rose" and "fell" use the unrounded return.

What this report does not do

  • It does not rank strategies, name a best or worst, score, rate or recommend any of them.
  • It shows no market-index figures. Each scheme's benchmark comparison is in the AMC's own factsheet.
  • It does not say whether a strategy suits any investor. That is a one-to-one conversation based on the investor's own risk profile.

Limits you should keep in mind

  • At 30 Sep 2026 every SIF was under a year old and 19 were under six months. Short records are weak evidence; SEBI's advertisement format shows no performance at all for a scheme under six months.
  • Strategies in the same category can hold very different portfolios, hedge differently and charge different expenses. Their returns are not like-for-like.
  • Regular-plan NAVs are shown because Trustner distributes Regular plans. Direct-plan NAVs are higher by the difference in expenses; both are on merasif.com.
  • SIFs may use derivatives and take short positions. The minimum investment is ₹10 lakh across a fund house's SIF strategies.
Important. This report is for information and education only. It is not investment advice, research or a recommendation, and it does not rank the strategies. Returns are absolute and not annualised, Regular plan – Growth option, computed from official AMFI NAVs. Past performance may or may not be sustained in future and is not a guarantee of any future return. Investments in Specialized Investment Funds and mutual funds are subject to market risks; read all scheme-related documents carefully. Trustner Asset Services Pvt. Ltd. is an AMFI-registered Mutual Fund and SIF Distributor (ARN-286886) and an APMI-registered PMS distributor. It is not a SEBI-registered Investment Adviser or Research Analyst. Trustner distributes Regular plans and may receive commission from the asset management companies whose schemes appear here.

Trustner Asset Services Pvt. Ltd. · CIN U66301AS2023PTC025505 · merasif.com · Live data: merasif.com/fund-universe.html · Monthly sheet: merasif.com/sif-performance-sheet.html
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Regular plan · Growth option · absolute returns, not annualised · official AMFI NAVs, 31 Aug 2026 to 30 Sep 2026. Past performance may or may not be sustained in future. Trustner Asset Services Pvt. Ltd. · AMFI-registered Mutual Fund & SIF Distributor · ARN-286886 · merasif.com