iSIF Active Asset Allocator Long-Short Fund
India's first truly multi-asset SIF — dynamically rotating across equity, debt, gold, silver, and InvITs based on the AMC's active asset-allocation framework. The most differentiated SIF launched in this category.
NFO Opens
May 19, 2026
NFO Closes
June 2, 2026
NFO Price
₹10 per unit
Min Investment
₹10,00,000
Benchmark
Composite
Risk Band
Level 5
Why this fund matters
The first true multi-asset SIF in India
Every other SIF launched so far is equity-focused. iSIF AAA is structurally different — it can dynamically rotate across five distinct asset classes based on market conditions. A genuine asset-allocator product in SIF clothing.
5 asset classes in one SIF
Equity (35–80%), debt (up to 55%), gold + silver via exchange-traded commodity derivatives, and InvITs. Dynamic rotation based on market scenarios.
Composite benchmark — first of its kind
50% Nifty 500 TRI + 40% Composite Debt + 7% Gold + 3% Silver. Reflects the multi-asset nature; no other SIF benchmarks like this.
6-manager team across asset classes
Dedicated PMs for equity (Ihab Dalwai), economics/strategy (Sharmila D'silva), debt (Manish Banthia), credit (Akhil Kakkar), commodities (Gaurav Chikane) — specialists per sleeve.
The strategy
Asset allocation
Wide dynamic range across asset classes. The manager actively rebalances based on market scenarios.
| Instrument | Min | Max |
|---|---|---|
| Equity & equity-related instruments (including derivatives) | 35% | 80% |
| Debt + Money Market + Debt MF + Exchange-traded commodity derivatives | 10% | 55% |
| Units of InvITs | 0% | 10% |
| Overseas securities (within SEBI limits) | 0% | 20% |
The team
Fund managers (6 specialists)
Ihab Dalwai
EquityAge 37 · CFA, CA, B.Com
With ICICI Prudential AMC since April 2011. Manages multiple equity and hybrid schemes with derivatives exposure. Previously an Investment Analyst in the AMC's Investments department.
Sharmila D'silva
Economics & StrategyAge 30 · Chartered Accountant, BAF
Joined ICICI Prudential AMC in September 2016. Manages several mutual fund schemes. Specialises in economics research, strategy research, and business cycle research.
Masoomi Jhurmarvala
Co-ManagerICICI Prudential AMC team
Fund manager on the iSIF managing team alongside the lead PMs.
Manish Banthia
DebtSenior fixed-income PM at ICICI Prudential AMC
Manages the debt sleeve. One of ICICI Prudential's senior fixed-income portfolio managers across multiple flagship schemes.
Akhil Kakkar
CreditICICI Prudential AMC credit team
Credit & fixed income PM, covering the credit-rated debt portion of the strategy.
Gaurav Chikane
CommoditiesICICI Prudential AMC commodities team
Manages the commodity derivatives sleeve — gold + silver via exchange-traded derivatives.
Fund details
Specification at a glance
| Fund name | iSIF Active Asset Allocator Long-Short Fund |
| AMC | ICICI Prudential Mutual Fund |
| Category | Active Asset Allocator Long-Short |
| Type | Interval investment strategy |
| NFO opens | May 19, 2026 |
| NFO closes | June 2, 2026 |
| NFO price | ₹10 per unit |
| Min investment | ₹10,00,000 (aggregate at PAN level across iSIF strategies) |
| Benchmark | 50% Nifty 500 TRI + 40% Nifty Composite Debt + 7% Gold + 3% Silver |
| Liquidity / settlement | Daily subscription · Twice-weekly redemption (Mon + Wed) · T+3 settlement |
| Exit load | 1.00% within 12 months · Nil after 12 months |
| Risk band (AMFI) | AMFI Level 5 (Highest) |
| Plans / options | Direct + Regular · Growth only (no IDCW) |
SIFPrime view
How we're thinking about iSIF AAA
iSIF AAA is the second active asset allocator SIF in India, after Dyna AAA from 360 ONE. Both are differentiated from the typical equity LS / hybrid LS structures — but iSIF goes a step further by adding gold and silver via commodity derivatives.
What makes it interesting: the composite benchmark (Nifty 500 + Composite Debt + Gold + Silver) tells you exactly what the strategy is trying to deliver — a diversified multi-asset experience that doesn't just sit in equity-vs-debt. This is the closest a SIF has come to an institutional multi-asset mandate.
Pedigree: ICICI Prudential is India's second-largest AMC, with deep expertise across asset classes. Manish Banthia and Akhil Kakkar are senior fixed-income managers; Gaurav Chikane brings commodity expertise. Ihab Dalwai leads on equity. Six-PM team is unusually large but appropriate given the cross-asset mandate.
Risk band Level 5 (highest). The 35–80% equity range means this isn't a defensive product — but the multi-asset rotation should dampen the worst single-asset drawdowns.
Who should consider it: HNI investors looking for one-stop multi-asset SIF exposure, or those who want to delegate asset allocation entirely to an active manager. Not a substitute for an equity LS SIF if you're specifically targeting hedged equity alpha.
In context
Active Asset Allocator SIFs in India
The asset allocator category is the smallest of the SIF categories. iSIF joins as the third entrant.
| Fund | AMC | Asset universe | Status |
|---|---|---|---|
| iSIF Active Asset Allocator | ICICI Prudential | Equity + Debt + Gold + Silver + InvITs | NFO Open |
| Dyna Active Asset Allocator | 360 ONE Asset | Equity + Debt + Commodities | Live |
| qSIF Active Asset Allocator | Quant | Equity + Debt | Live |
Disclaimer. The information above is sourced from the iSIF Active Asset Allocator Long-Short Fund Investment Strategy Information Document published by ICICI Prudential Asset Management Company Limited. 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 Band: AMFI Level 5 (Highest). Investments in SIFs involve relatively higher risk including potential loss of capital, liquidity risk, and market volatility. Multi-asset funds carry additional commodity-price risk on the gold + silver sleeve.
AMC website: isif.icicipruamc.com