Specialised Investment Funds: Quant leads six-month returns at over 34%; how other equity and hybrid strategies fared
Specialised Investment Funds (SIFs) are a relatively new investment category in India, with the first scheme launched in October 2025. With a minimum investment requirement of ₹10 lakh, SIFs can use strategies such as long-short investing, tactical asset allocation, derivatives, and hedging.
According to the latest SIF360 report, the SIF industry had total assets under management (AUM) of ₹31,175 crore across 33 funds offered by 17 asset management companies (AMCs) as of 31 August 2026.
A SIF is an investment fund, while a strategy describes how that fund will invest the money. An AMC can offer multiple SIFs or strategies, each following a different investment approach.
Here is a look at how different SIF strategies have performed.
What are the different investment strategies under SIFs?
There are seven SIF investment strategies across equity, debt, and hybrid categories. However, there are currently no debt SIFs in the market.
Which SIFs have delivered the highest six-month returns?
| AMC | SIF | Broader Strategy | Strategy | Strategy type | Risk profile | 6-month returns |
| Quant Mutual Fund | qsif | Hybrid Long Short | Quant multi-factor + short overlay | BAF/BAF+ | Balanced | 34.78% |
| Quant Mutual Fund | qsif | Equity Ex-top 100 Long Short | Quant + derivatives | Mid & Small Cap | Aggressive | 32.49% |
| Quant Mutual Fund | qsif | Equity Long Short | Momentum + Mean Reversion | Flexi Cap | Aggressive | 22.59% |
| ICICI Prudential Mutual Fund | iSIF | Equity Ex-top 100 Long Short | Mid/Small Cap + short overlay | Mid & Small Cap | Aggressive | 12.33% |
| ICICI Prudential Mutual Fund | iSIF | Hybrid Long Short | Dynamic hedging | BAF/BAF+ | Balanced | 12.17% |
*Source: SIF Intelligence Report – SIF360; Returns as of 28 August 2026
Among SIFs with six-month performance data, Quant Mutual Fund’s qsif strategies occupied the top three positions.
Its hybrid long-short strategy, which uses a quant multi-factor approach with a short overlay, delivered a six-month return of 34.78%.
How did equity SIFs perform in the last one month?
Many SIF strategies were launched only recently, so they do not yet have a six-month track record. As a result, looking at one-month returns gives a better picture.
| AMC | SIF | Strategy | Strategy type | Risk profile | 1-month return |
| 360 ONE Asset | Dyna | Mid/Small Cap Alpha | Mid & Small Cap | Aggressive | 9.45% |
| Quant Mutual Fund | qsif | Quant + derivatives | Mid & Small Cap | Aggressive | 5.60% |
| Invesco Mutual Fund | Summit | Bottom-up Long-Short | Flexi Cap | Aggressive | 5.56% |
| ICICI Prudential Mutual Fund | iSIF | Nifty 500 Long-Short | Flexi Cap | Aggressive | 5.33% |
| Edelweiss Mutual Fund | Altiva | Mid & Small Cap Long-Short | Mid & Small Cap | Aggressive | 3.34% |
*Source: SIF Intelligence Report – SIF360; Returns as of 28 August 2026
Among the equity-oriented SIFs, 360 ONE Asset’s Dyna strategy, which follows a mid & small cap alpha approach, delivered the highest one-month return at 9.45%.
| AMC | SIF | Strategy | Strategy type | Risk profile | 1-month return |
| The Wealth Company Mutual Fund | WSIF | Long-biased Multi-cap | Flexi Cap | Aggressive | -0.42% |
| Union Mutual Fund | Arthaya | Active Multi-cap Long-Short | Flexi Cap | Aggressive | -0.26% |
| 360 ONE Asset | Dyna | Dynamic allocation + tactical shorts | Flexi Cap | Aggressive | -0.18% |
*Source: SIF Intelligence Report – SIF360; Returns as of 28 August 2026
According to the report, only three of the equity SIFs recorded negative one-month returns. The Wealth Company Mutual Fund’s WSIF fell the most.
How did hybrid SIFs perform in the last one month?
| AMC | SIF | Strategy | Strategy type | Risk profile | 1-month return |
| Quant Mutual Fund | qsif | Quant Tactical Allocation | BAF/BAF+ | Balanced | 4.66% |
| Aditya Birla Capital AMC | Apex | ESFM + Multi strategy | Arbitrage+/ESF | Balanced | 3.41% |
| ICICI Prudential Mutual Fund | iSIF | Dynamic hedging | BAF/BAF+ | Balanced | 3.18% |
| ICICI Prudential Mutual Fund | iSIF | Multi-Asset Allocation | ESF+ | Conservative | 2.03% |
| Kotak Mahindra Mutual Fund | Infinity | Interval Hybrid | Arbitrage+/ESF | Conservative | 1.80% |
*Source: SIF Intelligence Report – SIF360; Returns as of 28 August 2026
BAF/BAF+ refers to Balanced Advantage Fund/Balanced Advantage Fund Plus, where the strategy can dynamically adjust its equity and debt exposure. ESF refers to Equity Savings Fund, while ESF+ denotes the corresponding enhanced strategy classification.
Quant Mutual Fund’s qsif, which follows a quantitative tactical allocation strategy, delivered the highest return at 4.66%. Unlike the equity SIFs, none of the hybrid SIFs recorded a negative one-month return.
Disclaimer: This is purely for educational/informational purposes and should not be taken as any sort of investment advice. Always consult a SEBI-registered advisor before making any investment decisions.
