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

Particular	Details
NAV	₹11.0674 as of 02 Sep 2026
AUM	₹945 Cr
Expense Ratio	0.0%
Launch Date	08 Jun 2026
Min SIP	₹1,000
Risk Category	High Risk
Benchmark	Nifty 50
Fund Category	Equity
Exit Load	0.50% on or before 90D, Nil after 90D
Fund Managers	Nikhil Gada, Trideep Bhattacharya, Ashish Sood, Amit Vora

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

Source data date: as of 02 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	0.56%	-3.47%
3M	Data not available	Data not available
1Y	0%	Data not available
3Y	0%	Data not available
5Y	0%	Data not available

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

Should you BUY or HOLD Altiva Equity Ex-Top 100 Long-Short?

A fund's past returns alone don't tell you whether you should buy it today or continue holding it.

The right decision depends on factors such as your current allocation, purchase price, risk profile, investment horizon and the role this fund plays in your overall portfolio.

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Peer comparison

Fund	1Y return	3Y return	5Y return
Altiva Equity Ex-Top 100 Long-Short Fund Direct Growth Plan	0%	0%	0%
Arudha Equity Long-Short Fund Direct Growth Plan	Data not available	Data not available	Data not available
iSIF Active Asset Allocator Long-Short Fund Direct Growth Plan	Data not available	Data not available	Data not available
Arthaya Equity Long Short Fund Direct Growth Plan	Data not available	Data not available	Data not available
iSIF Hybrid Long-Short Fund Direct Growth Plan	Data not available	Data not available	Data not available
iSIF Equity Ex-Top 100 Long-Short Fund Direct Growth Plan	Data not available	Data not available	Data not available

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

Holding	Sector	Weight
Radico Khaitan Ltd.	Alcohol	4.7%
Bharti Hexacom Ltd.	Telecom	4.66%
The Clearing Corporation of India Ltd.	Cash & Cash Equivalents and Net Assets	4.33%
360 One Wam Ltd.	Finance	4.32%
JSW Infrastructure Ltd.	Logistics	4.04%
ICICI Lombard General Insurance Company Ltd.	Insurance	3.86%
Bharat Dynamics Ltd.	Capital Goods	3.8%
Coforge Ltd.	IT	3.71%
Gravita India Ltd.	Non – Ferrous Metals	3.38%
SPR Auto Technologies Ltd.	Automobile & Ancillaries	3.31%

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

Holding period	Tax rate	Description
Units held less than 1 year	20%	Short-term capital gains tax
Units held more than 1 year	12.5%	Long-term capital gains tax

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

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RIA disclosure

Mutual fund investments are subject to market risks. Read all scheme-related documents carefully before investing. This review is prepared by Uniapps Investment Adviser Pvt. Ltd. (earlier known as Uniapps Global Research Pvt. Ltd.) under SEBI Registered Investment Adviser registration INA000017639 for general informational purposes and is not personalized investment advice.