Altiva Equity Ex-Top 100 Long-Short Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?

Altiva Equity Ex-Top 100 Long-Short Fund Direct Growth Plan has a NAV of ₹11.0674 as of 02 Sep 2026 and a scheme AUM of ₹945 Cr. Its 1-year, 3-year and 5-year returns are 0%, 0% and 0%, while the risk category is High Risk. Our view is that the fund is still too new for a longer track record, but the early pattern and portfolio construction suggest a strategy that may suit investors who can tolerate sharp swings and want a differentiated equity approach rather than a steadier benchmark-like profile.

The fund’s benchmark is Nifty 50, yet the recent return path has only a short window to assess, so the main signal today is the combination of high-risk positioning, concentrated holdings and a launch date in June 2026. That makes it more relevant for investors who can accept uncertainty and prefer to watch how the strategy develops over time.

Quick facts

The fund is managed by Nikhil Gada, Trideep Bhattacharya, Ashish Sood and Amit Vora.

Source data date: as of 02 Sep 2026

Performance

The most useful evidence here is the short-term contrast. Over 1 month, the fund was mildly positive while the benchmark was negative, which suggests it held up better during the recent patch of weakness in the market. That is a useful early signal, but it is not yet a broad proof of consistency because the scheme only launched in June 2026.

The longer figures do not yet provide a mature compounding history. The 1-year, 3-year and 5-year figures all sit at 0% because the fund does not have that long a live history, so we cannot treat those numbers as a tested long-run outcome. For investors, that means the main question is not whether the fund has already built a full cycle record, but whether its structure and early behaviour fit a high-risk, differentiating allocation.

The 1-month path also shows some day-to-day fluctuation rather than a straight line, which is consistent with a strategy that may move differently from the benchmark at times. That can be attractive if an investor wants return streams that are not tightly tied to the index, but it also means patience matters more than short holding periods.

Overall, the fund is ahead of the benchmark over the available recent window, but the absence of a real 1-year-plus record means that conclusion should be treated as provisional rather than durable.

Source data date: as of 02 Sep 2026

Peer comparison

This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639.

The fund’s recent one-month return is stronger than the benchmark’s recent move, but the peer set does not yet offer a meaningful multi-year comparison because those longer figures are not available for the listed funds. That leaves the current fund’s short-term behavior as the clearest comparison point, and it is broadly better than the benchmark over the same window.

For 3-year and 5-year comparisons, there is no usable evidence yet to separate this fund from the peers on a long-run basis. So the current picture is one of early relative resilience, not one of established long-term superiority. As a result, the short-term and longer-term comparisons tell different stories: the short window is informative, while the longer windows are still missing.

Source data date: as of 02 Sep 2026

Portfolio: where your money goes

The top 10 holdings account for approximately 40.11% of the portfolio.

To see all holdings, visit the Altiva Equity Ex-Top 100 Long-Short Fund Direct Growth Plan page

The largest holding, Radico Khaitan Ltd., carries a 4.7% weight, so no single position dominates the disclosed portfolio slice. The tenth holding is only slightly smaller at 3.31%, which shows that the top names are fairly close together rather than sharply tiered.

That said, the 40.11% combined weight of the top 10 is still meaningful, especially because the fund discloses 43 holdings in total. This suggests a structure where a relatively compact core may influence outcomes while a longer tail of positions could still add diversification.

Overall, the portfolio looks moderately concentrated among its largest positions, but not extremely top-heavy. That can allow the fund’s active calls to matter, while still leaving room for a broader set of holdings to contribute.

Source data date: as of 02 Sep 2026

Who should invest

This fund is best suited to investors who can handle High Risk exposure and are comfortable with a strategy that is still early in its history. The recent 1-month resilience versus the benchmark is encouraging, but the lack of a live 1-year-plus record means the long-term case is still developing.

A longer investment horizon is important here because the fund has not yet established multi-year performance evidence. Investors who want a differentiated equity allocation and can tolerate uneven short-term moves may find the structure interesting, while those looking for a smooth, well-seasoned return profile may prefer to wait for more history.

The main trade-off is between potential differentiation and certainty: the portfolio can move differently from the benchmark, but the evidence base is limited and the risk label is high.

Tax and exit load

Exit load: 0.50% if units are sold on or before 90 days; nil after 90 days.

Source data date: as of 02 Sep 2026

Frequently asked questions

What is the current NAV of Altiva Equity Ex-Top 100 Long-Short Fund Direct Growth Plan?
Its NAV is ₹11.0674 as of 02 Sep 2026.

What are the fund’s 1-year, 3-year and 5-year returns?
Its 1-year, 3-year and 5-year returns are 0%, 0% and 0%.

How has the fund performed against the benchmark recently?
Over 1 month, the fund returned 0.56% while the Nifty 50 benchmark returned -3.47%. That shows the fund held up better over the most recent short window.

How does it compare with the peer funds listed here?
The peer comparison is limited because the longer return figures are not available for the listed peers. On the available recent window, this fund’s 1-month behavior is the clearest point of comparison and it is ahead of the benchmark over that period.

What is the minimum SIP amount?
The minimum SIP amount is ₹1,000.

What is the risk level and exit load?
The fund is tagged High Risk. The exit load is 0.50% if units are sold on or before 90 days, and nil after 90 days.

Bottom line

Altiva Equity Ex-Top 100 Long-Short Fund Direct Growth Plan has an early record that looks better in the short window than the benchmark, but it still lacks a true multi-year performance history. The portfolio’s largest holdings are reasonably close in size and the top 10 account for a meaningful share of assets, so the strategy may be more active than index-like. On the available return data, it compares favorably in the recent window, but the longer-term picture is still unproven. That makes it more suitable for investors who accept High Risk and want a new, differentiated equity approach.

Published on 3 September 2026 at 6:52 PM IST