A complete guide to SIF liquidity — subscription windows, redemption mechanics, exit loads, and exchange listing for all live funds as of March 2026.
Prepared by SIFPrime.com — India's First SIF Comparison & Distribution Platform
SEBI's SIF framework (effective April 1, 2025) permits AMCs to launch investment strategies under two live structures today — Open-Ended and Interval. A third structure (Closed-Ended) is permitted under the regulations but has not yet been launched by any AMC as of March 2026.
Open-ended strategies function like traditional mutual funds — you can invest or redeem on any business day at the applicable NAV. There is no lock-in and no restricted redemption window. These are typically used for equity-oriented strategies (Equity Long-Short, Equity Ex-Top 100 Long-Short) where the underlying portfolio consists of liquid listed equities and derivatives.
Interval strategies are the dominant structure for Hybrid Long-Short SIFs. Subscriptions are allowed daily, but redemptions are restricted to specific days each week — typically 2 days per week. This structure gives fund managers the ability to manage derivative positions, arbitrage books, and fixed income allocation without the pressure of daily redemption outflows.
Important nuance: Subscription and redemption frequency can be different. A fund may allow daily inflows but only process outflows twice a week. This asymmetry is by design — it protects the portfolio from forced selling while still keeping the product accessible for new investors.
The Apex Hybrid Long-Short Fund (ABSLMF — Interval Fund, NFO: March 6–18, 2026) processes redemptions twice a week, every Monday and Wednesday. Here is how the cut-off works:
| Redemption Request Window | NAV Applied | Payout (T+3 working days) |
|---|---|---|
| Before Monday 3:00 PM | Monday NAV | By Thursday |
| Monday 3:00 PM – Wednesday 3:00 PM | Wednesday NAV | By Monday (next week) |
| After Wednesday 3:00 PM | Next Monday NAV | By Thursday (next week) |
Penal interest: SEBI mandates 15% p.a. penal interest if redemption proceeds are not paid within 3 working days of the valid redemption request date.
Exchange exit: Since Apex Hybrid Long-Short Fund is an interval strategy, its units will be listed on NSE and BSE post-NFO. Investors needing liquidity outside the Monday/Wednesday window can sell on the exchange at the prevailing market price (which may differ from NAV).
All Hybrid Long-Short interval strategies currently live or in NFO as of March 2026. NAV: Direct Plan – Growth.
| SIF Brand | AMC | NAV (Direct) | Subscribe | Redemption Days | Notice Period | Exit Load | Remarks |
|---|---|---|---|---|---|---|---|
| Apex SIF | ABSLMF | ₹10.0200 | Daily | Mon & Wed | Up to 15 days | Nil | Launched; NAV live |
| Altiva SIF | Edelweiss MF | ₹10.3174 | Daily | Mon & Wed | Nil | 0.5% (≤3 months) | Launched; NAV live |
| Arudha SIF | Bandhan AMC | ₹10.0830 | Daily | — | — | — | Launched; redemption days TBC |
| Magnum SIF | SBI MF | ₹10.0180 | Daily | Mon & Thu | Nil | 0.5% (≤15d), 0.25% (15d–1m) | Launched; NAV live |
| QSIF | Quant MF | ₹9.9607 | Daily | Tue & Wed | — | 1% (≤15 days) | Launched; NAV live |
| Titanium SIF | Mirae Asset MF | ₹9.5813 | Daily | — | — | 1% (≤365 days) | Launched; redemption days TBC |
NAV shown for Direct Plan – Growth option. "—" = not yet publicly disclosed.
All equity-oriented and hybrid open-ended strategies live as of March 2026. NAV: Direct Plan – Growth.
| SIF Brand | AMC | Strategy | NAV (Direct) | Subscribe | Exit Load | Benchmark |
|---|---|---|---|---|---|---|
| QSIF | Quant MF | Equity Long-Short | ₹9.1473 | Daily / Daily | — | Nifty 500 TRI |
| QSIF | Quant MF | Equity Ex-Top 100 L-S | ₹8.8418 | Daily / Daily | — | Nifty Midcap 150 TRI |
| Diviniti SIF | ITI Mutual Fund | Equity Long-Short | ₹948.8272 | Daily / Daily | — | Nifty 500 TRI |
| DynaSIF | 360 ONE AMC | Equity Long-Short | ₹9.7180 | Daily / Daily | — | Nifty 500 TRI |
| iSIF | ICICI Prudential MF | Equity Ex-Top 100 L-S | ₹9.2800 | Daily / Daily | — | Nifty Midcap 150 TRI |
| iSIF | ICICI Prudential MF | Hybrid Long-Short | ₹9.4754 | Daily / Daily | — | Nifty 50 Hybrid Comp. Debt 50:50 |
| Parameter | Open-Ended SIF | Interval SIF |
|---|---|---|
| Strategy Types | Equity L-S, Equity Ex-Top 100 L-S, Hybrid L-S | Hybrid Long-Short (dominant) |
| Subscription | Daily (all business days) | Daily (all business days) |
| Redemption | Daily (any business day) | Specific days only (typically Mon/Wed or Mon/Thu) |
| Exchange Listing | Not required | Mandatory (NSE + BSE) |
| Notice Period | Not applicable | Up to 15 working days (varies) |
| Exit Route (off-window) | Direct redemption any day | Exchange sale at market price |
| Liquidity Profile | High — like a regular mutual fund | Semi-liquid — restricted redemption windows |
| Why This Structure? | Underlying is liquid equity + derivatives | Holds arbitrage, derivatives, fixed income — needs time to unwind |
| Taxation | Equity MF (STCG 20%, LTCG 12.5% > ₹1.25L) | Equity MF taxation if equity-oriented; else slab |
Source: AMFI NAV data (March 06, 2026) | SEBI SIF Circular Feb 27, 2025 | Fund KIMs & ISIDs | Compiled by SIFPrime.com
Whether open-ended or interval, the right SIF depends on your client's liquidity needs and investment horizon. Let us help you navigate.
Disclaimer: This document is for informational and educational purposes only and does not constitute investment advice. Please read all fund documents carefully before investing.