Three new SIFs open this October. What each one is built to do
Invesco, Sundaram and AlphaGrep have SIF offers open this month, each in a different SEBI strategy. Here is how they differ, and the questions to ask before you put in the ₹10 lakh minimum.
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SIFs are the category SEBI created for investors with at least ₹10 lakh to put in: run by fund houses, but allowed unhedged short positions of up to 25% of net assets. Our SIF explainer covers the rules. This month three new offers are open.
| Fund | Strategy | Offer period |
|---|---|---|
| Invesco SummitSIF Active Asset Allocator Long-Short Fund | Moves between asset classes, with limited shorts | 12 to 26 October |
| Sundaram Select Equity Ex-Top 100 Long-Short Fund | Mainly companies outside the 100 largest, with limited shorts | 21 October to 4 November |
| AlphaGrep Eminence Hybrid Long-Short Fund | Equity and debt, with limited shorts | Closes 28 October |
How they differ
- Asset allocator: the manager decides how much sits in equity, debt and other assets, and can short. Invesco’s is an interval product, so you can redeem only in set windows.
- Equity ex-top 100: at least 65% in companies outside the largest 100. These are smaller, more volatile businesses; the short book is meant to soften falls.
- Hybrid long-short: at least 25% each in equity and debt. AlphaGrep, a quantitative trading firm, positions its first SIF as an alternative to arbitrage funds with low market risk.
Questions to ask the fund house
- What has the manager’s net equity exposure been, after shorts, in similar strategies?
- How often can I redeem, and with how much notice?
- What is the total expense ratio, and is there a performance fee?
- How is it taxed, given what it will hold?
- If I already hold this fund house’s SIFs, does this count towards the same ₹10 lakh?
Where this fits
A third-party tracker counts 33 SIF schemes from 17 fund houses across the five SEBI categories as of October 2026. None has a record through a full market cycle yet. For a large portfolio, the useful question is what job a SIF would do that your existing funds or PMS do not, and how much of the portfolio that job deserves.
Questions
- Which SIF NFOs are open in October 2026?
- Invesco SummitSIF Active Asset Allocator Long-Short Fund (12 to 26 October), Sundaram Select Equity Ex-Top 100 Long-Short Fund (21 October to 4 November) and AlphaGrep Eminence Hybrid Long-Short Fund (closes 28 October).
- What is the minimum investment in these SIFs?
- ₹10 lakh per PAN, counted across all SIF strategies of the same fund house.
- How many SIFs are there in India?
- A third-party tracker counts 33 SIF schemes from 17 fund houses as of October 2026.
- Can I redeem an interval SIF at any time?
- No. Interval funds allow redemptions only in set windows; the scheme document gives the dates and any notice period.
Sources
- 5paisa: Invesco SummitSIF launches Active Asset Allocator Long-Short Fund
- Zenith: Sundaram Select Equity Ex-Top 100 Long-Short Fund NFO
- Value Research: AlphaGrep’s SIF aims to beat arbitrage with low market risk
- And Fintech: all SIFs in India
Compound is analysis, not investment advice. Reva Money is not a SEBI-registered investment adviser.
