Covered calls
Income against owned shares
Premium cushions a small decline, but upside is capped and the underlying equity downside remains.
FundsAltiva Equity Long-Short
Edelweiss Mutual Fund
Altiva Equity Long-Short Fund
Equity Long ShortNet long 80-100% equity (up to 25% unhedged short)
01 SIFPrime research brief
Altiva Equity Long-Short research brief.
Altiva Equity Long-Short Fund is positioned as a benchmark-aware equity portfolio seeking market participation from a predominantly large-cap core, stock-selection alpha and incremental income from an options overlay. It may use unhedged equity shorts up to 25%. The benchmark is Nifty 100 TRI.
Current NAV
₹9.9170
2026-10-23
Core idea
Equity L/S
Equity long short
Team depth
3 managers
Research team mapped
Risk label
AMFI Risk Band Level 3
Read with the risk framework
Launch deck analysis
Benchmark hugging + alpha through derivative strategies
A benchmark-aware equity core is intended to deliver market participation. Stock selection and an income-oriented option book are expected to do the incremental work.
Intended long-term construction
A large-cap anchor with a selective extension
Indicative positioning from the launch presentation—not a binding allocation.
≈80%
Large-cap core
Top 100 · diversified · benchmark-aware
≈20%
Selective mid & small caps
Within the top 500
Derivative alpha engine
Covered calls · short straddles · short strangles
What the option book actually does
Three income strategies, three different risk shapes
Short straddles
Premium from a narrow range
The maximum gain is the premium received; losses accelerate when the stock moves beyond either break-even.
Short strangles
Premium from a wider range
The profitable range is wider than a straddle, but large moves still create nonlinear tail risk.
Market-regime expectations
Where the overlay may help—or hurt
Rising markets
Participates
May surrender some upside during sharp rallies.
Sideways markets
Best relative setup
Option income has the clearest opportunity to add value.
Falling markets
Measured drawdown aim
May fall less than the benchmark; this is not protection.
Internal strategy illustration
What the launch deck simulated
| Period | Nifty 100 TRI | Illustrated strategy | Difference |
|---|---|---|---|
| 1 year | -0.98% | 3.02% | +4.00% |
| 3 years | 12.19% | 15.01% | +2.82% |
| 5 years | 11.10% | 14.51% | +3.41% |
As of May 2026. The internal illustration used 85% large caps, 15% mid caps and a covered-call strategy. Returns were calculated gross of expenses. They are simulated—not the fund's return, forecast or promise.
SIFPrime due-diligence lens
The real differentiator is how the option book is managed—not merely which stocks the fund owns.
Gross, net and delta-adjusted exposure
Option income versus tail-risk losses
Turnover, slippage and live TER
Research uses Direct Growth NAV history. Orders on SIFPrime use Regular Growth; the order ticket identifies the execution plan.
Loading selected-plan performance…
Direct Growth · 2026-10-23 · Source & calculation
AMFI SIF daily NAV · Scheme SIF-163 · Growth option
Observed 2026-10-05 to 2026-10-23 · 14 daily NAVs.
Absolute return = (end NAV ÷ start NAV − 1) × 100. Returns are not annualized. 1M / 3M / 6M use 30 / 91 / 182 days and the last NAV on or before the cutoff. YTD starts at the last prior-year NAV, or inception for a new fund.
Observed-history start NAV ₹10.0196 · latest ₹9.9170.
Max drawdown -2.97%. Peak 2026-10-16 to trough 2026-10-23.
Sharpe assumption: 5.3324% annual risk-free rate, observed 2026-07-17. Risk metrics use 13 daily returns from 2026-10-05 to 2026-10-23.
Snapshot checked 2026-10-25 08:57:23 UTC. The NAV date above is the valuation date; this is not a live price.
1M: Insufficient history → 2026-10-23
3M: Insufficient history → 2026-10-23
YTD: 2026-10-05 → 2026-10-23
02 Daily NAV performance
Daily NAV movement and returns
Every published daily point is plotted; choose a period to inspect the path.
Since inception
-1.02%
14 NAV points
Start NAV
₹10.0196
Latest NAV
₹9.9170
Monthly returns
Selected-plan absolute returns (%). First month is since inception; latest month is to the displayed NAV date.
Risk-adjusted performance
Observed daily NAV risk metrics
Annualized from Direct Growth NAV returns using 252 trading days. A minimum of 20 daily returns is required.
Volatility
--
Sharpe ratio
--
Daily returns
13
Observation period
5 Oct 2026 – 23 Oct 2026
13 daily returns are available. Metrics will appear automatically when the 20-return threshold is reached.
03 Portfolio intelligence
Holdings by portfolio sleeve
Equity, derivatives, debt and supplemental hedge disclosures stay separate so the source can be read without mixing measurement bases.
Latest verified AMC disclosure: 30 Sept 2026.Usually reported every 2 monthsPortfolio lines71Top 10 concentration27.75%
Latest portfolio research · construction, positioning and changes
Loading portfolio research…
Portfolio sleeves
Listed equity
longequity share64 disclosed lines
All rows stay inside this fixed view. Scroll to inspect long and short positions without changing the page layout.
This view is normalized from the official AMC workbook. Derivative market value, notional exposure and regulatory gross exposure can use different measurement bases, so the source statement remains controlling.
03 Portfolio construction
Asset allocation bands
Scheme-filed allocation limits show where the strategy can invest. Actual weights vary with the portfolio disclosure date and fund-manager view.
Equity and equity-related instruments, including unhedged short exposure
Min
80%
Max
100%
Scheme-filed mandate limit; not actual portfolio weight
Debt, money-market instruments and debt-oriented mutual funds
Min
0%
Max
20%
Scheme-filed mandate limit; not actual portfolio weight
Units issued by InvITs
Min
0%
Max
20%
Scheme-filed mandate limit; not actual portfolio weight
Overseas securities
Min
0%
Max
30%
Within regulatory and asset-allocation limits
Benchmark: Nifty 100 TRI
04 Fund managers
3 fund managers across the mandate
The manager setup matters because equity long-short outcomes depend on stock selection, hedge construction and downside-control discipline.
BL
Bharat Lahoti
Mandate teamFund Manager - Equity
19 yrs · B.E.; MMS Finance
Has portfolio-management, macro and sector-research experience, including fundamental and quantitative research at D. E. Shaw. He also manages Altiva Hybrid Long-Short Fund.
BJ
Bhavesh Jain
Mandate teamFund Manager - Equity Derivatives
18+ yrs · MMS Finance
His experience includes cash-futures arbitrage, F&O hedging, covered calls, reverse arbitrage and long-short trading. He also manages Altiva Hybrid Long-Short Fund.
AV
Amit Vora
Mandate teamFund Manager - Overseas Portion
18+ yrs · B.Com
Has trading experience across several institutional firms and is responsible for the strategy's permitted overseas allocation.
Team lens
Review how equity, debt, arbitrage and hedging decisions are coordinated across the full mandate, not as isolated manager sleeves.
05 Risk framework
Where the strategy can break
Read each risk as an operating condition to monitor. Hedging can change the shape of drawdowns, but it does not remove market, liquidity or execution risk.
01
Market risk
SIF NAVs can fall with equity, debt, liquidity and sentiment shocks. Hedging can reduce drawdowns but cannot remove market risk.
02
Derivative and short risk
Futures and options can amplify gains and losses. Unhedged short exposure is capped by the SEBI SIF framework but still needs active risk control.
03
Liquidity and redemption risk
Many SIFs are interval strategies. Redemption windows, settlement time and underlying portfolio liquidity matter before allocating capital.
04
Mid and small-cap liquidity
Ex-top-100 and broader equity long-short mandates can face sharper price impact and wider bid-ask spreads during stress.
05
Manager execution risk
Security selection, timing, hedge sizing and short-book discipline drive outcomes more than in a passive or plain-vanilla fund.
Potential fit
diversified equity with tactical short exposure
quantamental stock selection
HNI portfolios comfortable with derivatives
Investors comfortable with scheme-defined liquidity
Mismatch signals
Capital preservation or guaranteed return expectations
A need for daily redemption flexibility
A short holding period sensitive to exit load and NAV seasoning
An assumption that derivatives always reduce downside
Monitoring checklist
What should change your view
Daily NAV behavior through stressed markets
Portfolio sleeves versus the filed mandate
TER drift across Regular and Direct plans
Liquidity and hedge behavior across disclosures
06 Due diligence desk
Documents and operating terms
Read the governing documents alongside the costs, liquidity and settlement terms that affect the actual investor experience.
What to read
Official disclosure checklist
01
AMFI Investment Strategy Information Document
Dated August 20, 2026
Direct download not yet verified. Consult the AMC for the current document.
02
Altiva SIF website
Latest notices, forms and expense disclosures
Direct download not yet verified. Consult the AMC for the current document.
03
Investment strategy code
Official source document for this SIF.
Direct download not yet verified. Consult the AMC for the current document.
04
Benchmark
Official source document for this SIF.
Direct download not yet verified. Consult the AMC for the current document.
Investor terms
Cost and access snapshot
Allotment / inception
05 Oct 2026
TER regular
2.10%
Exit load
0.50% if redeemed within 90 days; Nil thereafter
Redemption frequency
Daily
Settlement
T+3
Plans / options
Direct and Regular, Growth option
Treat the SID and latest factsheet as controlling sources whenever a website summary and official disclosure differ.
In context
Comparable Equity Long Short SIFs in India
Compare this fund with nearby SIFs in the same category or mandate family before deciding allocation size.
FundFund houseMandateStatus
Fund
Altiva Equity Long-Short Fund
Fund house
Edelweiss Mutual Fund
Mandate
Equity long short
Current fund
Fund
MSIF Equity Long-Short Fund
Fund house
Mahindra Manulife Mutual Fund
Mandate
Equity long short
Live
Fund
qSIF Equity Long-Short
Fund house
Quant Mutual Fund
Mandate
Quantitative
Live
Fund
Diviniti Equity Long-Short
Fund house
ITI Mutual Fund
Mandate
Pure long short
Live
Fund
DynaSIF Equity Long-Short
Fund house
360 ONE Mutual Fund
Mandate
Pure long short
Live
SIFPrime view
How we are thinking about Altiva Equity Long-Short
- 01
Altiva Equity Long-Short Fund is positioned as a benchmark-aware equity portfolio seeking market participation from a predominantly large-cap core, stock-selection alpha and incremental income from an options overlay. It may use unhedged equity shorts up to 25%. The benchmark is Nifty 100 TRI.
- 02
The clearest reading of the launch material is benchmark hugging plus derivative alpha: an intended 80% large-cap core and 20% selective mid/small-cap sleeve, overlaid with covered calls, short straddles and short strangles. Results will depend on how the option book is sized and adjusted after turnover, transaction costs and tail-risk losses—not only on which stocks are owned.
- 03
The product and Nifty 100 TRI benchmark are assigned Level 3 in the filed ISID. This internal NFO-stage assessment may change after the portfolio is built. The fund remains equity-led and derivative-enabled, with possible capital loss and market volatility.
Disclaimer. The information above is based on publicly available scheme documents, SIFPrime research notes and NAV data where available for Altiva Equity Long-Short Fund. SIFPrime is an AMFI-registered mutual fund distributor and does not provide investment advice. SIFs are subject to market risk; please read the SID/SAI carefully before investing.
Risk label: AMFI Risk Band Level 3. Investments in SIFs involve relatively higher risk including possible loss of capital, liquidity risk and market volatility.
