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

Diviniti Equity Long Short Fund Direct Growth Plan has a NAV of ₹906.6845 as of 17 Sep 2026 and a scheme AUM of ₹291 Cr. Its 1-year, 3-year and 5-year returns are 0%, 0% and 0%, and the fund sits in the High Risk bucket. On the numbers available today, our view is that it looks like a niche, high-variance allocation rather than a steady core holding.

The fund has only been live since 01 Dec 2025, so the return record is still very short. The combination of a large cash-like sleeve, major bank exposure and a benchmark-linked comparison frame means investors may want to treat it as a fund whose short-term path can differ meaningfully from a plain equity index.

Quick facts

Particular	Details
NAV	₹906.6845 as of 17 Sep 2026
AUM	₹291 Cr
Expense Ratio	0.0%
Launch Date	01 Dec 2025
Min SIP	₹5,000
Risk Category	High Risk
Benchmark	Nifty 50
Exit Load	Nil upto 10% of units and 0.50% for remaining units on or before 6M, Nil after 6M
Fund Managers	Alok Ranjan

The fund is managed by Alok Ranjan.

Source data date: as of 17 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	-4.18%	-3.66%
3M	-3.85%	-3.71%
1Y	Data not available	Data not available
3Y	Data not available	Data not available
5Y	Data not available	Data not available

The short-horizon pattern has been weak, with the fund slipping more than the benchmark over 1 month and 3 months. The gap is not dramatic, but it does tell us the strategy has recently struggled to add value versus the Nifty 50.

Even so, the day-to-day movement is not one-way. The 3-month path shows periods of recovery after softer patches, which suggests the fund is not simply drifting lower; it is moving with enough variation that timing can matter.

We cannot draw a meaningful long-term compounding read yet because the fund’s public history is very short. That matters for interpretation: the current record is better read as an early operating pattern than as a completed cycle.

Relative to the benchmark, the near-term message is fairly clear. The fund has lagged the index on the available 1-month and 3-month measures, so the burden of proof remains on future stability rather than on an established performance trend.

Source data date: as of 17 Sep 2026

Should you BUY or HOLD Diviniti 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 Diviniti Equity Long Short? Thinking of investing now?

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Peer comparison

Fund	1Y return	3Y return	5Y return
Diviniti Equity Long Short Fund Direct Growth Plan	Data not available	Data not available	Data not available
Baroda BNP Paribas Gold ETF FoF Direct Growth Plan	34.39%	Data not available	Data not available
HDFC Innovation Fund Direct Growth Plan	14.3%	Data not available	Data not available
Bajaj Finserv Small Cap Fund Direct Growth Plan	13.33%	Data not available	Data not available
Quant Equity Savings Fund Direct Growth Plan	8.75%	Data not available	Data not available
Kotak Active Momentum Fund Direct Growth Plan	6.31%	Data not available	Data not available

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

The current fund has no available 1-year return to compare with the peer set, while the five peer funds shown here all have positive 1-year figures. That makes the recent comparison look materially weaker on disclosed history.

On 3-year and 5-year figures, the comparison is not available for any of these funds in the table, so the peer story is almost entirely a short-horizon one. In that setting, the fund’s own brief record does not yet provide evidence of resilience against the better-known peer outcomes.

So the short-term comparison and the longer-horizon comparison do not tell the same story. The short-term view is clearly behind the peer group figures shown, while the longer-term view cannot yet be formed because the fund has not built that track record.

Source data date: as of 17 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
91 Days Tbill (MD 17/09/2026)	Treasury Bills	10.27%
ICICI Bank Limited	Bank	8.66%
Reliance Industries Limited	Crude Oil	8.53%
HDFC Bank Limited	Bank	7.32%
Net Receivables / (Payables)	Cash & Cash Equivalents and Net Assets	4.02%
State Bank of India	Bank	3.98%
TREPS 01-Sep-2026	Cash & Cash Equivalents and Net Assets	3.62%
Cartrade Tech Limited	Automobile & Ancillaries	3.59%
Axis Bank Limited	Bank	3.46%
Bharti Airtel Limited	Telecom	3.36%

The top 10 holdings account for approximately 56.81% of the portfolio.

To see all holdings, visit the Diviniti Equity Long Short Fund Direct Growth Plan page

The largest disclosed holding is the 91 Days Tbill at 10.27%, which is sizeable enough to shape short-term portfolio behaviour on its own. After that, the weights step down into the high-single-digit range, with ICICI Bank and Reliance Industries still carrying meaningful influence.

The fall from the first holding to the tenth is not extreme, but it is noticeable. The structure suggests a portfolio where the very largest position stands out, while the next several positions still matter in a broad but not evenly spread way.

With the top 10 holdings accounting for 56.81% of the portfolio and 41 holdings disclosed overall, the fund appears to have a fairly extended tail beyond its largest positions. That mix may reduce reliance on any single stock, but the leading names could still have greater influence on short-term outcomes than the smaller positions.

Source data date: as of 17 Sep 2026

Who should invest

This fund may suit investors who can handle High Risk exposure and are comfortable with a short and still-forming performance record. The available return pattern is weak in the near term, and that means the fund does not yet have a long history of outperformance to lean on.

A longer horizon is more relevant than a short one, but even then the key trade-off is clear: you would be accepting higher uncertainty in exchange for a strategy that is still proving itself. The portfolio also has a meaningful cash-like and government-bill component alongside equities, so the outcome path may differ from a plain Nifty 50 tracker.

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

Nil upto 10% of units and 0.50% for remaining units on or before 6M, Nil after 6M

Source data date: as of 17 Sep 2026

Frequently asked questions

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

The current NAV is ₹906.6845 as of 17 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 Data not available, Data not available and Data not available.

How has the fund performed versus the Nifty 50 benchmark?

On the available short-term figures, the fund has lagged the Nifty 50 in both 1 month and 3 months. The 1-month return is -4.18% versus -3.66% for the benchmark, and the 3-month return is -3.85% versus -3.71%.

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

The fund has no available 1-year return, while the peer funds shown here all have positive 1-year figures. That makes the peer comparison on recent performance look weaker for this fund.

Is there a minimum SIP amount?

The minimum SIP amount is ₹5,000.

Who manages the fund and what is the exit load?

The fund is managed by Alok Ranjan. The exit load is nil up to 10% of units and 0.50% for the remaining units if sold on or before 6 months, and nil after 6 months.

Bottom line

Diviniti Equity Long Short Fund Direct Growth Plan is still an early-stage fund with a short track record, and the recent figures have been weaker than the benchmark on the periods currently available. The peer comparison also looks soft on disclosed 1-year numbers, while the longer-horizon picture is not yet built out. Its High Risk profile, sizeable treasury-bill holding and bank-heavy exposure make it a fund whose behaviour may differ from a plain equity index. That makes it more suitable for investors who can tolerate uncertainty and a developing record.

Published on 18 September 2026 at 8:44 AM 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.