Apex SIF by Aditya Birla Sun Life
Apex Hybrid Long-Short Fund
An interval SIF using long equity, arbitrage, derivatives (long-short) and fixed income to generate alpha with capped downside risk.
by Aditya Birla Sun Life AMC Limited
Analyst Verdict
BUY
Report Date: 06 Mar 2026
Analyst: SIFPrime Research Desk
₹10L
Min Investment
2.25%
Max TER
0.50%
Exit Load (≤90d)
NIFTY 50 Hybrid Composite Debt 50:50
Benchmark
T+3
Redemption
Level 2
Risk Band
NFO Information
NFO Open Date
March 06, 2026
NFO Close Date
March 18, 2026
Allotment
Within 5 business days post-NFO
SEBI Strategy Code
APEX/I/H/HLSF/26/02/0001/ABSL
Fund Snapshot
| Fund Objective | Generate long-term capital appreciation through arbitrage, long equity, debt, equity/debt derivatives, long-short and REITs/InVITs, including limited short exposure via derivatives. |
| Strategy | Hybrid Long-Short: Combines long equity, arbitrage, covered calls, straddles, fixed income, and limited short positions (max 25% net assets) for risk-adjusted returns. |
| What It Invests In | Indian equities (35-65%), debt & money market (35-65%), derivatives up to 100%, InvITs up to 20%. Unhedged short max 25% of net assets. |
| Investment Horizon | 3–5 years minimum |
| Registrar (RTA) | KFin Technologies / CAMS |
Hybrid Long-Short Strategy
Equity Exposure
Long positions in equity and equity-related instruments for capital appreciation.
Debt & Money Market
Fixed income instruments for stability, accrual income, and portfolio balance.
Short Exposure
Naked short exposure through derivatives for downside protection and alpha generation.
Asset Allocation Matrix
| Asset Class | Min % | Max % |
|---|---|---|
| Equity & Equity-Related | 35% | 65% |
| ↳ Unhedged Short (max) | 0% | 25% |
| Debt & Money Market | 0% | 65% |
| Derivatives — Hedging | 0% | 100% |
| InvITs / REITs | 0% | 20% |
| Cash / Liquid / STD | 0% | 20% |
Fund Management Team
Mr. Lovelish Solanki
Fund Manager, Equity
- • 17+ years in trading and fund management
- • MMS (Finance), BMS (Finance)
- • Former Equity/Derivatives Trader at Union KBC AMC & Edelweiss AMC
Mr. Mohit Sharma
Fund Manager, Debt
- • 19+ years experience (11 years in financial markets)
- • PGDCM – IIM Calcutta; B.Tech – IIT Madras
- • Former Interest Rates Trader at Standard Chartered Bank, ICICI Bank
Derivative Toolkit
Income Generation
- • Covered Calls
- • Cash-Secured Puts
- • Premium Capture
Protection Strategies
- • Protective Puts
- • Collars
- • Hedging Positions
Directional Strategies
- • Bull/Bear Spreads
- • Long Calls/Puts
- • Synthetic Positions
Volatility Strategies
- • Straddles & Strangles
- • Butterflies
- • Iron Condors
Hedging & Pairs
- • Pair Trades
- • Market Neutral
- • Arbitrage
Fixed Income Derivatives
- • Interest Rate Swaps
- • Forward Rate Agreements
- • Credit Default Swaps
Performance Across Market Scenarios
Bull Market
Nifty +15%
Participates in upside with balanced equity exposure
Bear Market
Nifty -15%
Short positions + debt allocation significantly reduce drawdown
Sideways Market
Nifty ±5%
Market-neutral strategies generate returns in flat markets
Who Should Invest?
Ideal For
- HNI / UHNI with ≥ ₹10 lakh to deploy
- Comfortable with equity market volatility
- 3–5 year+ investment horizon
- Looking for alpha beyond traditional mutual funds
- Portfolio diversifier / satellite allocation
NOT Suitable If
- You need capital protection or guaranteed returns
- Investment horizon is less than 2–3 years
- You are a US / Canadian resident
- You cannot tolerate NAV drawdowns
- You need immediate liquidity at all times
Costs & Fees
Investment Amounts
- Min Investment (Regular)₹10,00,000
- Min Investment (Accredited)₹1,00,000
Expense Ratio
- Max TER — Regular Plan2.25% p.a.
- Max TER — Direct Plan2.20% p.a.
NIL
Entry Load
0.50%
Exit Load (≤90 days)
NIL
Exit Load (>90 days)
0.005%
Stamp Duty
Redemption
- Redemption Payout: T + 3 working days
- IDCW Payout: Within 7 working days
Taxation
- LTCG (>12 months): 12.5% (Sec 112A)
- STCG (<12 months): Slab rate (normal tax)
Key Risk Factors
Performance Tracker
| Period | Fund Return | Benchmark | Alpha |
|---|---|---|---|
| 1 Month | N/A (NFO) | N/A | N/A |
| 3 Months | N/A (NFO) | N/A | N/A |
| 6 Months | N/A (NFO) | N/A | N/A |
| 1 Year | N/A (NFO) | N/A | N/A |
| Since Inception | N/A (NFO) | N/A | N/A |
Benchmark: NIFTY 50 Hybrid Composite Debt 50:50 Index (Total Return) · First NAV within 5 business days of allotment · Data as of: 06 Mar 2026
Benchmark Index
NIFTY 50 Hybrid Composite Debt 50:50 Index (Total Return)
A hybrid benchmark with 50% equity and 50% debt allocation.
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