65-100%
Ex-Top 100 sleeve
The core mandate is companies outside the top 100 by full market capitalization: mid and small-cap risk is the engine.
SIFPrime
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A source-backed category desk for investors comparing ex-top-100 allocation, top-100 allowance, short exposure, TER, exit loads, liquidity, portfolio mix, benchmarks and execution links across every Equity Ex-Top 100 SIF in the current SIFPrime universe.
5
Funds reviewed
5 AMCs across the Equity Ex-Top 100 category.
1.25%-2.10%
TER range
Direct-plan TER from the current SIFPrime fund registry.
3
Benchmarks
NIFTY 500 is common, but not universal across the category.
65-100%
The core mandate is companies outside the top 100 by full market capitalization: mid and small-cap risk is the engine.
0-35%
Managers can use top-100 companies for liquidity, quality ballast, or tactical exposure without breaking the category mandate.
Up to 25%
Unhedged derivative shorts are permitted, usually through stock or index derivatives.
0-35%
Debt and money market room supports liquidity management, especially in a category exposed to less-liquid stocks.
Mid and small-cap first
Every reviewed ISID requires at least 65% in companies outside the top 100 by market capitalization. This is a focused mid/small-cap category, not a broad large-cap equity sleeve.
Top-100 is a support sleeve
The mandates permit up to 35% in top-100 companies or other equity. That gives managers liquidity and quality ballast without changing the category identity.
The short book is capped
The common unhedged short limit is up to 25%, usually through exchange-traded stock or index derivatives. It is a tool, not a protection guarantee.
Benchmark choice matters
Most funds use NIFTY 500 TRI for broad-market evaluation, while DynaSIF uses BSE 500 TRI. Both are broader than a pure midcap-only lens.
Core ex-top-100 exposure
iSIF, qSIF, Altiva, WSIF
These use the common NIFTY 500 TRI benchmark context with 65-100% ex-top-100 equity and up to 25% short exposure.
Shorter exit-load window
WSIF, qSIF, Altiva, DynaSIF
Reviewed documents show nil, 15-day, 90-day or 3-month exit-load language versus iSIF's 12-month load window.
Quant or model-driven expression
qSIF, DynaSIF
qSIF carries Quant's systematic style, while DynaSIF describes a blend of qualitative and quantitative factors.
Large-AMC comfort
iSIF, Altiva
These may suit investors who prefer a larger platform or established AMC execution, while still accepting mid/small-cap volatility.