Active Asset Allocator Long-Short SIFs in July 2026
Three funds share one label, but their actual mix of shares, cash, debt, gold and derivatives is very different.
3 funds
Category universe
2 files
Full July disclosures
Main finding
qSIF held mostly cash-like assets; iSIF used a more complex multi-asset and options book.
The full category at a glance
| Fund | Portfolio date | Disclosure | Plain-English construction |
|---|---|---|---|
| qSIF Active Asset Allocator | 31 Jul | Full | Large TREPS position, concentrated shares and short futures |
| iSIF Active Asset Allocator | 31 Jul | Full | Shares, bonds, gold and a large option overlay |
| DynaSIF Active Asset Allocator | 31 May | Older file | Multi-asset portfolio with shares, debt, precious metals and commodity futures |
How the portfolios differ
| Fund | Dominant July feature | Derivative use | What drives results |
|---|---|---|---|
| qSIF | 50.25% TREPS | Short equity futures | Cash level plus concentrated stock choices |
| iSIF | Mixed shares and debt | Stock options, futures and gold | Asset allocation and option outcomes |
| DynaSIF* | May multi-asset mix | Equity and commodity futures | Latest July position is unknown |
Portfolio construction · 31 Jul
1. qSIF Active Asset Allocator
| Component | % of fund |
|---|---|
| Shares | 42.72% |
| Short futures | -15.47% |
| TREPS | 50.25% |
| Other securities | 5.04% |
| Largest holdings | % of fund |
|---|---|
| INDO-MIM | 9.59% |
| Adani Energy Solutions | 7.91% |
| Adani Green Energy | 4.80% |
| JSW Infrastructure | 4.29% |
| Caliber Mining and Logistics | 3.92% |
In plain English: More than half the fund sat in cash-like or other liquid assets. The equity sleeve was concentrated, and short futures reduced part of its market sensitivity.
Portfolio construction · 31 Jul
2. iSIF Active Asset Allocator
| Component | % of fund |
|---|---|
| Listed shares before overlays | 53.74% |
| Debt | 20.42% |
| TREPS | 9.01% |
| Gold future | 1.32% |
| Largest holdings | % of fund |
|---|---|
| Mahindra & Mahindra | 5.67% |
| State Bank of India | 3.39% |
| HDFC Bank | 3.11% |
| Reliance Industries | 3.02% |
| Hero MotoCorp | 2.71% |
In plain English: This was the most complex portfolio in the category. Sold stock options materially reshape the payoff, while bonds, cash and a small gold position diversify the asset mix.
Portfolio construction · 31 May
3. DynaSIF Active Asset Allocator
| Component | % of fund |
|---|---|
| Latest supplied disclosure | 31 May |
| Non-hedging MCX future | 2.29% |
| Protected commodity futures | -11.23% |
| July comparability | Not available |
| Largest holdings | % of fund |
|---|---|
| Embassy Office Parks REIT | 1.62% |
| Bharti Airtel | 1.41% |
| Adani Ports | 1.39% |
| Tata Steel | 1.34% |
| Netweb Technologies | 1.20% |
In plain English: The May file confirms a genuinely multi-asset approach, including precious-metal futures. It should not be read as DynaSIF's July position.
What investors should take away
This category gives managers the widest tool kit, so the name alone tells investors very little. The useful questions are simple: how much is actually in shares, how much is parked in liquid assets, what role gold or debt plays, and whether derivatives protect the portfolio or add a new bet.