Altiva Hybrid Long-Short Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?

Altiva Hybrid Long-Short Fund Direct Growth Plan has a current NAV of ₹11.1244 as of 02 Sep 2026 and scheme AUM of ₹7,009 Cr. Its 1-year, 3-year and 5-year returns are 0%, 0% and 0%, and the fund sits in the Low Risk category. Our view is that it reads like a conservative hybrid strategy with a large cash and short-duration allocation, but its return history is still too short to judge it on a full market cycle.

The fund is not yet old enough to show multi-year compounding beyond the short window available here, so the key question is whether the portfolio structure can keep delivering steadier behavior than the benchmark. The current mix suggests lower volatility, but investors still need to be comfortable with limited track record depth.

Quick facts

Particular	Details
NAV	₹11.1244 as of 02 Sep 2026
AUM	₹7,009 Cr
Expense Ratio	0.0%
Launch Date	20 Oct 2025
Min SIP	₹10,00,000
Risk Category	Low Risk
Benchmark	Nifty 50
Exit Load	0.50% on or before 90D, Nil after 90D
Fund Managers	Bhavesh Jain, Bharat Lahoti, Dhawal Dalal, Kedar Karnik

The fund is managed by Bhavesh Jain, Bharat Lahoti, Dhawal Dalal and Kedar Karnik.

Source data date: as of 02 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	0.87%	-3.47%
3M	4.39%	2.17%
1Y	0%	Data not available
3Y	0%	Data not available
5Y	0%	Data not available

Short-term behavior has been steadier than the benchmark. Over the latest month, the fund stayed marginally positive while the benchmark was negative, which points to some defensive cushioning in a weaker market phase. Over three months, the fund also stayed ahead of the benchmark, though the spread is not large enough to imply a decisive structural edge.

The bigger context is that this is a very new scheme, launched in October 2025, so the longer horizon rows do not yet provide meaningful compounding evidence. That matters because a low-risk label can only be judged properly when it is tested through different market conditions. At present, the available performance pattern is more about initial stability than about a long record of wealth creation.

The time pattern in the return path suggests that the fund has moved in a relatively tight band, which is consistent with the low-volatility profile. We would still treat the short record carefully: a fund can look calm in the early months and still need more time before the pattern becomes investable evidence. Against the benchmark, the near-term message is constructive, but the absence of long-run data keeps the assessment cautious.

Source data date: as of 02 Sep 2026

Should you BUY or HOLD Altiva Hybrid 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 Hybrid Long-Short Fund Direct Growth Plan	0%	0%	0%
Baroda BNP Paribas Gold ETF FoF Direct Growth Plan	40.85%	Data not available	Data not available
HDFC Innovation Fund Direct Growth Plan	20.3%	Data not available	Data not available
Bajaj Finserv Small Cap Fund Direct Growth Plan	19.85%	Data not available	Data not available
Kotak Nifty Alpha 50 Index Fund Direct Growth Plan	11.56%	Data not available	Data not available
Kotak Active Momentum Fund Direct Growth Plan	10.94%	Data not available	Data not available

This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639. On the available 1-year figures, the fund trails every peer listed here, although that comparison is made against much stronger return profiles in faster-moving strategies. The peer set has no usable 3-year or 5-year figures for these schemes, so the short-term picture is informative while the longer-term comparison remains incomplete.

For our view, the more important point is that the fund’s own recent behavior has been steadier than the benchmark even if it has not matched the stronger peer returns. That makes the comparison look balanced between stability and raw upside, rather than pointing to a clear advantage on performance alone.

Source data date: as of 02 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
The Clearing Corporation of India Ltd.	Cash & Cash Equivalents and Net Assets	17.9%
Adani Enterprises Ltd.	Trading	2.86%
Net Receivables/(Payables)	Cash & Cash Equivalents and Net Assets	2.85%
Coal India Ltd.	Mining	2%
364 Day T-Bill 08.10.26	Treasury Bills	1.77%
Shriram Finance Ltd.	Finance	1.65%
182 Day T-Bill 03.09.26	Treasury Bills	1.63%
0% Jubilant Beverages Ltd. 31-Mar-2028 **	Corporate Debt	1.59%
Indus Towers Ltd.	Telecom	1.47%
7.74% Hindustan Petroleum Corporation Ltd. 02-Mar-2028 **	Corporate Debt	1.44%

The top 10 holdings account for approximately 35.16% of the portfolio.

To see all holdings, visit the Altiva Hybrid Long-Short Fund Direct Growth Plan page

The largest disclosed holding, The Clearing Corporation of India Ltd., is 17.9%, which is unusually large relative to the rest of the list. The weight then falls quickly: the second and third positions are both below 3%, and the tenth holding is 1.44%. That gap suggests the fund’s visible sleeve is anchored by one dominant cash-and-clearing exposure, with the rest spread across smaller positions.

Because the top 10 holdings make up 35.16% of the portfolio and the scheme discloses 70 holdings in total, the visible book appears fairly extended rather than narrowly packed into just a few positions. Even so, the single largest holding may still have the greatest influence on short-term behavior because its weight is far above the rest of the table. The broader list of treasury bills, cash items and selected operating-company exposures could help moderate day-to-day swings, but it also means the portfolio is not a simple equity-only structure.

For investors, the important takeaway is that this mix may support the low-risk profile, but the portfolio is still more complex than a plain index fund. The balance between a dominant cash-like holding and a longer tail of smaller positions can help smooth volatility, yet it also means the return pattern will depend on how these sleeves interact over time.

Source data date: as of 02 Sep 2026

Who should invest

This fund fits investors who are comfortable with a low-risk label but still want a hybrid structure rather than a pure debt or liquid fund. The short return record is steady, and the fund has held up better than the benchmark in the latest 1-month and 3-month periods, but there is no long-run track record yet to confirm how it behaves across a full market cycle.

Our view is that the better fit is for someone with a moderate to conservative temperament and a medium-term horizon, not for an investor seeking fast upside. The main trade-off is that the portfolio may aim for smoother movement, but that usually comes with less obvious return momentum than higher-octane peer strategies. The large cash-like position and the low-volatility profile support that reading.

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% on or before 90D, Nil after 90D.

Source data date: as of 02 Sep 2026

Frequently asked questions

What is the current NAV of Altiva Hybrid Long-Short Fund Direct Growth Plan?
Its current NAV is ₹11.1244 as of 02 Sep 2026.

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

How has it done versus the benchmark recently?
It has been ahead of the benchmark in the latest 1-month and 3-month periods, with 0.87% versus -3.47% for 1M and 4.39% versus 2.17% for 3M.

How does it compare with the peer funds listed here on 1-year return?
Its 1-year return is 0%, while the peer funds listed here show 40.85%, 20.3%, 19.85%, 11.56% and 10.94% for their 1-year figures.

Is there a minimum SIP amount?
Yes. The minimum SIP amount is ₹10,00,000.

What are the risk level, main holdings and exit load?
The fund is in the Low Risk category. Its largest disclosed holding is The Clearing Corporation of India Ltd. at 17.9%, and the exit load is 0.50% on or before 90D, with nil exit load after 90D.

Bottom line

Altiva Hybrid Long-Short Fund Direct Growth Plan has started with steadier recent behavior than the benchmark, but its longer-term record is still too short to judge in a meaningful way. On the peer figures available here, its 1-year return is well below the comparison set, so the case rests more on stability than on visible upside. The low-risk profile, the large cash-like holding and the broader 70-holding structure point to a defensive construction that may suit conservative, medium-horizon investors who prefer smoother movement over aggressive return chasing.

Published on 3 September 2026 at 6:54 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.