Arthaya Equity Long Short Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?

Arthaya Equity Long Short Fund Direct Growth Plan has a NAV of ₹10.0778 as of 28 August 2026 and a scheme AUM of ₹132 Cr. Its 1-year, 3-year and 5-year returns are 0%, 0% and 0%, and the fund sits in the High Risk category.

Our view is that this is a fund for investors who can tolerate a sharp swing in outcomes and want exposure to a long-short equity approach that currently carries a meaningful cash and treasury-bill buffer. The near-term record is still too short to establish a durable pattern, so the current mix matters more than any headline return number.

Quick facts

Item	Details
NAV	₹10.0778
AUM	₹132 Cr
Expense Ratio	0.0%
Launch Date	25 May 2026
Min SIP	₹10,000
Risk Category	High Risk
Benchmark	Nifty 50
Fund Category	Equity
Exit Load	1% on or before 1Y, Nil after 1Y
Fund Managers	Rajesh Aynor; Hiten Bhadra

The fund is managed by Rajesh Aynor and Hiten Bhadra.

Source data date: as of 28 Aug 2026

Performance

Period	Fund return	Benchmark return
1M	-0.77%	-0.85%
3M	0.66%	3.39%
1Y	Data not available	Data not available
3Y	Data not available	Data not available
5Y	Data not available	Data not available

The short history makes this fund difficult to judge through long-horizon return numbers. The available near-term figures show a mild loss over one month and a small gain over three months, which is a modest start rather than a decisive trend.

Against the benchmark, the fund was slightly better than Nifty 50 over 1 month, but it lagged the benchmark over 3 months. That tells us the recent path has been uneven, with periods of resilience offset by stretches where the benchmark moved ahead more clearly.

The day-by-day pattern also looks restrained rather than sharply directional. In both the 1-month and 3-month windows, the fund spent time close to flat, with small up-and-down moves that fit a strategy trying to manage downside while participating in upside.

Because the scheme was launched only in May 2026, the 1-year, 3-year and 5-year return fields are not yet meaningful in a normal trailing-performance sense. For now, our read is that investors should focus more on how the portfolio is constructed than on a return history that is still too short to establish consistency.

Source data date: as of 28 Aug 2026

Should you BUY or HOLD Arthaya Equity 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
Arthaya Equity Long Short Fund Direct Growth Plan	Data not available	Data not available	Data not available
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
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.

On the limited return history available, the current fund looks broadly in line with the peer set at this stage because every scheme in the comparison has insufficient trailing return history for a clean multi-year read. The clearer difference lies in the short window: this fund has been slightly steadier than the benchmark over 1 month, but it has trailed the benchmark over 3 months.

That means the comparison story is not about a visible long-term lead or lag; it is about early behaviour. At this point, the fund’s advantage, if any, is in its mild short-term stability rather than in a proven return edge over longer horizons.

Source data date: as of 28 Aug 2026

Portfolio: where your money goes

Market-cap bucket	Allocation
Large Cap	67.98%
Mid Cap	3.65%
Small Cap	2.25%
Other Cap	26.12%

Sector	Allocation	Top holdings
TREASURY BILLS	15.74%	91 DAY TREASURY BILLS (13.86%), 364 DAY TREASURY BILLS (1.88%)
CASH & CASH EQUIVALENTS AND NET ASSETS	14.36%	TREPS (27.68%)
HEALTHCARE	12.21%	MAX HEALTHCARE INSTITUTE LTD. (3.78%), APOLLO HOSPITALS ENTERPRISE LTD. (3.53%)
BANK	11.46%	ICICI BANK LTD. (3.34%), HDFC BANK LTD. (2.69%)
AUTOMOBILE & ANCILLARIES	10.4%	MARUTI SUZUKI INDIA LTD. (4.12%), EICHER MOTORS LTD. (2.09%)

The portfolio is dominated by large-cap exposure at 67.98%, while mid-cap and small-cap positions are small at 3.65% and 2.25%. That mix suggests the equity book is tilted toward established businesses, with a sizable 26.12% classified as other cap, which may include exposures that do not fit neatly into the standard market-cap buckets.

At the sector level, treasury bills at 15.74% are only slightly above cash and cash equivalents at 14.36%, so the two defensive blocks together matter a great deal. Healthcare at 12.21% and banks at 11.46% are close behind, which means the portfolio is spread across several meaningful sleeves rather than concentrated in just one theme.

Our view is that treasury bills and cash may have the greatest influence on short-term behaviour because together they form a large defensive base. Among equity sectors, healthcare could also matter more than the others if stock-specific moves in MAX Healthcare and Apollo Hospitals are strong, but the overall allocation still looks balanced enough to avoid a single-sector story.

Source data date: as of 28 Aug 2026

Who should invest

This fund suits investors with a high tolerance for volatility and a willingness to stay invested through an unproven return history. The launch date is recent, so the available return record is short, and the benchmark comparison has already shown that short windows can move in different directions.

It is more appropriate for a medium-to-long horizon than for someone looking for a stable, predictable equity outcome in the near term. The main trade-off is that the portfolio has a large defensive allocation, but the scheme still carries High Risk classification and does not yet have a long performance track record to lean on.

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

• 1% if units are sold on or before 1 year.
• No exit load after 1 year.

Source data date: as of 28 Aug 2026

Frequently asked questions

What is the current NAV of Arthaya Equity Long Short Fund Direct Growth Plan?

The current NAV is ₹10.0778 as of 28 August 2026.

What are the fund’s recent returns?

The fund’s 1-month return is -0.77% and its 3-month return is 0.66%. The 1-year, 3-year and 5-year return fields are not available in a meaningful trailing sense yet because the scheme is newly launched.

How does the fund compare with Nifty 50?

It was slightly better than Nifty 50 over 1 month, but it trailed the benchmark over 3 months. That suggests the short-term pattern has been mixed rather than consistently ahead.

How does the fund compare with the peer funds listed here?

The comparison does not show a clear long-horizon edge because the available 1-year, 3-year and 5-year figures are not available for the schemes in this set. The more visible difference is that the fund has been a little steadier than the benchmark in the shortest window, but not across every recent period.

What is the minimum SIP amount?

The minimum SIP amount is ₹10,000.

What risk level, portfolio mix and exit load should investors note?

The fund is classified as High Risk. Its portfolio is dominated by large-cap exposure, with meaningful allocations to treasury bills and cash, and the exit load is 1% on or before 1 year and nil after 1 year.

Bottom line

Arthaya Equity Long Short Fund Direct Growth Plan is still too new for a full trailing-performance judgment, so the recent short-window behaviour matters more than the unavailable long-horizon return figures. It has been mixed versus the benchmark in the near term, while the peer comparison is also limited by the lack of meaningful long-run numbers across this group.

The key fund-level feature is the portfolio’s defensive base, with large allocations to treasury bills and cash alongside a largely large-cap equity mix. That makes it a high-risk scheme with a comparatively cautious portfolio structure, which may appeal to investors who want a long-short style exposure and can accept an early-stage record.

Published on 31 August 2026 at 5:06 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.