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

Arudha Equity Long-Short Fund Direct Growth Plan has a NAV of ₹10.58 as of 28 Aug 2026 and manages ₹110 Cr. Its 1-year, 3-year and 5-year returns are 0%, 0% and 0% respectively, and the scheme is tagged High Risk. Our view is that this is a new fund with a short live track record, so the current numbers matter more for what they show about early behaviour than for any long-run conclusion.

The fund has stayed close to the Nifty 50 benchmark over the recent periods while carrying a high-risk profile and a portfolio that mixes cash, large-cap banking, healthcare, IT and finance exposures. That combination may suit investors who want a diversified long-short style equity allocation and are comfortable with a new scheme where the longer track record is still developing.

Quick facts

Item	Details
NAV	₹10.58
AUM	₹110 Cr
Expense Ratio	0.0%
Launch Date	24 March 2026
Min SIP	₹10,000
Risk Category	High Risk
Benchmark	Nifty 50
Fund Category	Equity
Exit Load	0.50% on or before 30 days, nil after 30 days
Fund Managers	Nilesh Saha; Brijesh Shah

The fund is managed by Nilesh Saha and Brijesh Shah.

Source data date: as of 28 Aug 2026

Performance

Period	Fund return	Benchmark return
1M	0.36%	-0.85%
3M	5.48%	3.39%
1Y	Data not available	Data not available
3Y	Data not available	Data not available
5Y	Data not available	Data not available

Recent behaviour has been steadier than the benchmark in the shortest windows. Over 1 month, the fund was slightly positive while the Nifty 50 was negative, which suggests some resilience in a choppy stretch. Over 3 months, the fund also stayed ahead of the benchmark, although the gap was not large.

The pattern matters because this scheme launched only in March 2026, so there is no meaningful 1-year, 3-year or 5-year history yet. That means the live numbers are more useful for judging early stability than for assessing a mature compounding record. For now, the fund looks broadly controlled rather than erratic, with modest movement around a short-term upward drift.

Compared with the benchmark, the fund’s short-term edge has come without a big swing in direction. The benchmark itself has been mixed to slightly weak in the recent windows, while the fund has held up a little better. Even so, this is still an early phase, so we would treat the current run as a starting point rather than evidence of a durable cycle.

The key analytical point is that recent returns are better than the benchmark in the two available periods, but there is no long-term return record to confirm how this behaves across different market conditions. That makes patience and close monitoring more important than any attempt to read too much into a few weeks of performance.

Source data date: as of 28 Aug 2026

Should you BUY or HOLD Arudha 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.

Already holding Arudha Equity Long-Short? Thinking of investing now?

Get your portfolio analysed for FREE by SEBI-registered Investment Adviser (RIA) through Univest MF Premium

Peer comparison

Fund	1Y return	3Y return	5Y return
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.

Against the available peer set, the current fund does not yet have a disclosed 1-year, 3-year or 5-year return, so the comparison is mainly about structure rather than scorekeeping. That said, the recent benchmark-relative performance is slightly better than the broad market over the short windows we can assess, which gives the fund a modestly constructive start.

Because the peer funds also show no usable return history in the current comparison window, the short-term story and the longer-term story cannot be separated meaningfully here. The practical takeaway is that the current fund’s early behaviour looks orderly, but there is not enough return history yet to say whether that pattern will persist.

Source data date: as of 28 Aug 2026

Portfolio: where your money goes

The portfolio is spread across large-cap, small-cap and other exposures, with mid-cap weight clearly smaller. Large-cap exposure stands at 40.46%, small-cap at 29.59%, other-cap at 19.98% and mid-cap at 9.97%. That mix suggests the fund is not leaning entirely toward one style bucket, even though the large-cap component remains the single biggest block.

Market cap bucket	Weight
Large cap	40.46%
Mid cap	9.97%
Small cap	29.59%
Other cap	19.98%

Sector	Weight	Top holdings
CASH & CASH EQUIVALENTS AND NET ASSETS	17.82%	CLEARING CORPORATION OF INDIA LTD (18.11%)
BANK	15.58%	ICICI BANK LTD (5.19%); HDFC BANK LTD. (4.05%)
HEALTHCARE	10.87%	SUN PHARMACEUTICAL INDUSTRIES LTD. (1.78%); IPCA LABORATORIES LIMITED (1.7%)
IT	7.3%	INFO EDGE INDIA LTD (1.94%); INFOSYS LTD. (1.41%)
FINANCE	6.66%	AADHAR HOUSING FINANCE LTD. (1.53%); HDFC ASSET MANAGEMENT COMPANY LTD. (1.1%)

The cash and cash-equivalent block is the largest sector at 17.82%, and it is materially above each operating sector below it. That can make the portfolio more defensive in feel than a fully invested equity fund, although the overall mix still includes meaningful equity exposure across banking, healthcare, IT and finance.

Banking is the next major exposure at 15.58%, and it is closely followed by healthcare at 10.87%. Together these two can have a noticeable influence on the fund’s day-to-day movement, especially because the bank allocation includes large names and the healthcare sleeve is not trivial. IT and finance are smaller, but still large enough to matter for relative returns.

From a behaviour standpoint, the portfolio may be driven most strongly by the cash allocation and the banking sleeve. The cash position could damp volatility, while bank holdings may keep the fund linked to broader equity sentiment. The small-cap and other-cap exposures are also meaningful, so the overall profile is best seen as mixed rather than narrowly concentrated.

Source data date: as of 28 Aug 2026

Who should invest

This fund suits investors who are comfortable with High Risk and want exposure to a strategy that is still very early in its life. The short-term return pattern is mildly positive versus the benchmark, but there is no long-term record yet to rely on, so the fit is better for investors who can tolerate uncertainty and watch the scheme over time.

The likely horizon should be long enough to let the strategy establish a fuller track record, rather than a short holding period. The main trade-off is that the portfolio may offer some cushioning through cash and diversified sector exposure, but the fund is still young and the outcome profile is not yet proven across a full market cycle.

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 30 days; nil after 30 days.

Source data date: as of 28 Aug 2026

Frequently asked questions

What is the current NAV of Arudha Equity Long-Short Fund Direct Growth Plan?
The NAV is ₹10.58 as of 28 Aug 2026.

What are the fund’s 1-year, 3-year and 5-year returns?
The 1-year, 3-year and 5-year returns are not available yet because the scheme launched on 24 March 2026.

How has the fund done against the Nifty 50 benchmark recently?
It has been slightly ahead in the recent periods we can measure, with 0.36% versus -0.85% over 1 month and 5.48% versus 3.39% over 3 months.

How does the fund compare with the peer set on return history?
The current comparison does not show usable 1-year, 3-year or 5-year return histories for the peer funds, so the comparison is more about early structure than past performance.

What is the minimum SIP amount?
The minimum SIP is ₹10,000.

Who manages the fund and what is the exit load?
The fund is managed by Nilesh Saha and Brijesh Shah. The exit load is 0.50% on or before 30 days and nil after 30 days.

Bottom line

Arudha Equity Long-Short Fund Direct Growth Plan is an early-stage High Risk equity scheme with short-term returns that have been a little better than the benchmark, but without a meaningful longer-term record yet. The peer comparison is also limited by missing return history across the group, so the clearest signals today come from the recent behaviour and the portfolio mix. With a sizeable cash component and a spread across bank, healthcare, IT and finance, it looks like a fund for investors who want a young strategy and can live with uncertainty while the track record develops.

Published on 31 August 2026 at 5:08 PM IST

Explore mutual funds with Univest

Review mutual fund data, compare performance and explore fund insights on Univest.

Explore Univest

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.