iSIF Active Asset Allocator Long-Short Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?

Updated: 18 Sept 2026 • 9:31 am

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iSIF Active Asset Allocator Long-Short Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?

iSIF Active Asset Allocator Long-Short Fund Direct Growth Plan is priced at ₹10.339 as of 16 September 2026, and the scheme has ₹983 Cr in AUM. Its 1-year, 3-year and 5-year returns are Data not available, 2.66% and Data not available, respectively, and the fund sits in the Balanced Risk category. Our view is that it currently looks more like a measured allocation fund than a steady compounding story, because the near-term track is mixed and the portfolio carries a sizeable cash-and-net-asset buffer.

That mix can suit investors who want a balanced-risk structure and can accept periods when the fund behaves differently from the benchmark. The absence of longer return history means we would treat it as a newer scheme where the current portfolio shape and short run pattern matter more than a long track record.

Table of Contents

Quick facts

Particular	Details
NAV	₹10.339 as of 16 Sep 2026
AUM	₹983 Cr
Expense Ratio	0.0%
Launch Date	05 Jun 2026
Min SIP	₹10,000
Risk Category	Balanced Risk
Benchmark	Nifty 50
Fund Category	Equity
Exit Load	1% on or before 12M, Nil after 12M
Fund Managers	Sharmila Dsilva, Masoomi Jhurmarvala, Manish Banthia, Akhil Kakkar

The fund is managed by Sharmila Dsilva, Masoomi Jhurmarvala, Manish Banthia and Akhil Kakkar.

Source data date: as of 16 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	-0.92%	-3.66%
3M	2.66%	-3.71%
1Y	Data not available	Data not available
3Y	Data not available	Data not available
5Y	Data not available	Data not available

The recent pattern is better than the benchmark in both reported windows. Over one month, the fund fell less than the benchmark, which suggests some downside cushioning even though the return was still negative. Over three months, the fund moved into positive territory while the benchmark stayed weaker, so the recent run has been clearly stronger on a relative basis.

The more important limitation is history. The scheme launched on 05 Jun 2026, so there is no published 1-year, 3-year or 5-year track record yet, which means we should avoid reading too much into the early numbers. For a new fund, short-run resilience matters, but it does not yet tell us how the strategy behaves through a full market cycle.

The daily pattern behind the recent periods also points to a fairly narrow range of movement rather than a dramatic surge. That supports a view of a comparatively controlled start, but it is still too early to call the longer-term compounding quality of the fund.

Source data date: as of 16 Sep 2026

Should you BUY or HOLD iSIF Active Asset Allocator 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
iSIF Active Asset Allocator Long-Short Fund Direct Growth Plan	Data not available	Data not available	Data not available
Magnum Equity Ex-Top 100 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
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

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

On the available return data, the current fund has a better short-term showing than the benchmark, but the peer comparison table does not yet separate the funds on a meaningful long-horizon basis because the comparable return fields are not available. That means the present edge is about recent behaviour, not about a proved longer record.

For an investor, the key point is that the current fund has shown a steadier near-term path than the benchmark, while the peer set does not yet provide a clear long-term comparison. We would therefore treat the short-term numbers as the main evidence and avoid overreading them until the fund builds a longer history.

Source data date: as of 16 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
Net Current Assets	Cash & Cash Equivalents and Net Assets	31.04%
Cash Margin – Derivatives	Cash & Cash Equivalents and Net Assets	10.16%
TREPS	Cash & Cash Equivalents and Net Assets	9.67%
Life Insurance Corporation of India	Insurance	6.15%
Mahindra & Mahindra Ltd.	Automobile & Ancillaries	4.22%
HDFC Bank Ltd.	Bank	3.26%
7.44% NABARD	Corporate Debt	2.53%
8.23% Godrej Industries Ltd. **	Corporate Debt	2.53%
7.8% Aadhar Housing Finance Ltd. **	Corporate Debt	2.52%
182 Days Treasury Bills	Treasury Bills	2.51%

The top 10 holdings account for approximately 74.59% of the portfolio.

To see all holdings, visit the iSIF Active Asset Allocator Long-Short Fund Direct Growth Plan page

The largest holding, Net Current Assets, is 31.04%, which is substantial on its own and suggests a meaningful cash-and-net-asset cushion. The next few positions also remain large, but the weights step down from 31.04% to 10.16%, 9.67% and then 6.15%, so influence is not spread evenly across the top of the book.

By the tenth holding, the weight has fallen to 2.51%, which shows a clear tail-off in position size after the first few lines. Because the displayed holdings already sum to 74.59% and there are 69 disclosed holding rows in total, the portfolio may still have a long tail beyond the visible top names. Even so, the top slice is likely to have greater influence on day-to-day behaviour than the smaller positions below it.

Source data date: as of 16 Sep 2026

Who should invest

This fund suits investors who are comfortable with a balanced-risk profile and can hold through a newer scheme’s early-stage performance swings. The short-term pattern has been better than the benchmark, but the absence of a longer history means the case rests more on current behaviour and portfolio structure than on a tested multi-year record.

That makes a moderate-to-cautious horizon more relevant than a quick entry-and-exit approach, especially for investors who value some defensive support from cash and net-asset exposure. The trade-off is straightforward: the portfolio may offer a steadier profile than a fully directional equity fund, but the limited track record means confidence in longer-term consistency is still building.

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% on or before 12M; no exit load after 12M.

Source data date: as of 16 Sep 2026

Frequently asked questions

What is the current NAV of iSIF Active Asset Allocator Long-Short Fund Direct Growth Plan?

The current NAV is ₹10.339 as of 16 September 2026.

What are the fund’s 1-year, 3-year and 5-year returns?

The fund has no published 1-year and 5-year return in the current record, while the 3-year return is 2.66%.

How does the fund compare with the Nifty 50 benchmark?

It has been stronger than the benchmark in the available short-term windows. The fund returned -0.92% over 1 month versus -3.66% for the benchmark, and 2.66% over 3 months versus -3.71% for the benchmark.

How does it compare with peer funds on available return data?

The peer comparison does not show usable 1-year, 3-year or 5-year return figures for the listed funds, so a meaningful long-horizon comparison is not available.

What is the minimum SIP amount?

The minimum SIP amount is ₹10,000.

Who manages the fund, and what is the exit load?

The fund is managed by Sharmila Dsilva, Masoomi Jhurmarvala, Manish Banthia and Akhil Kakkar. The exit load is 1% on or before 12 months and nil after 12 months.

Bottom line

The fund’s early performance is more encouraging in the short run than in a long-run sense, because the available recent returns are better than the benchmark while the longer-horizon record is not yet in place. Compared with the peer set, the available return fields do not yet give a strong long-term separation. The portfolio also stands out for a meaningful cash-and-net-asset cushion, which may temper volatility. Overall, this is best viewed as a balanced-risk fund for investors who can accept an early-stage track record.

Published on 18 September 2026 at 9:31 AM IST

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.