Top 5 SIFs Deliver Over 23% in 6 Months; QSIF Equity Ex-Top 100 Long-Short Leads

Top 5 SIFs Deliver Strong Six-Month Returns

Five Specialised Investment Fund (SIF) strategies delivered positive returns during the six-month period from March 1, 2026, to August 31, 2026, according to a SIF360 report cited by Economic Times.

The top-performing strategy in the analysis was QSIF Equity Ex-Top 100 Long-Short Fund, which delivered a 23.40% return during the period. The other four strategies recorded returns ranging from 6.69% to 13.49%.

QSIF Equity Ex-Top 100 Long-Short Fund Leads

QSIF Equity Ex-Top 100 Long-Short Fund recorded the highest six-month return among the five strategies at 23.40%.

The strategy belongs to the equity ex-top 100 long-short category. Such strategies can invest in companies outside the largest 100 stocks by market capitalisation while using permitted derivatives and short positions as part of their investment approach.

The 23.40% figure is an absolute return for the specified six-month period and should not be interpreted as an annualised return.

QSIF Equity Long-Short Fund Returns 13.49%

The QSIF Equity Long-Short Fund delivered a 13.49% return during the same six-month period.

Long-short strategies can combine long positions with permitted short derivative exposure. This gives fund managers greater flexibility in managing market exposure compared with a conventional long-only equity strategy.

According to the available September 2026 QSIF factsheet data, the strategy's six-month absolute return as of August 31 was 14.33%, illustrating that performance figures can differ depending on the reporting source, methodology and period used.

QSIF Hybrid Long-Short Fund

The QSIF Hybrid Long-Short Fund generated a 11.13% return during the six-month period covered by the ET analysis.

A hybrid long-short strategy can combine equity exposure with other asset classes while using long-short techniques. The objective is to diversify sources of potential returns rather than depend entirely on a rising equity market.

The September 2026 QSIF factsheet separately reported a 11.97% six-month return for the strategy as of August 31, 2026.

Magnum Hybrid Long-Short Fund

Magnum Hybrid Long-Short Fund recorded a 7.65% return over the six-month period.

The strategy was among the hybrid long-short SIFs included in the ET/SIF360 performance comparison.

Its return was lower than the three strategies discussed above during the period covered by the analysis.

Altiva Hybrid Long-Short Fund

Altiva Hybrid Long-Short Fund delivered a 6.69% return during the six months from March 1 through August 31, 2026.

It was the fifth strategy in the ET/SIF360 list of SIFs covered in the analysis.

Top 5 SIFs: Six-Month Performance

SIF StrategyCategorySix-Month ReturnQSIF Equity Ex-Top 100 Long-Short FundEquity Ex-Top 100 Long-Short23.40%QSIF Equity Long-Short FundEquity Long-Short13.49%QSIF Hybrid Long-Short FundHybrid Long-Short11.13%Magnum Hybrid Long-Short FundHybrid Long-Short7.65%Altiva Hybrid Long-Short FundHybrid Long-Short6.69%

Period: March 1, 2026 to August 31, 2026. Returns are historical absolute returns reported in the Economic Times/SIF360 analysis.

What Are Specialised Investment Funds?

Specialised Investment Funds, or SIFs, are a relatively new investment structure in India's asset-management industry. They provide fund managers with greater flexibility to implement strategies that may involve long-short positions, derivatives and different asset-allocation approaches, subject to the applicable framework.

This makes SIFs different from traditional mutual-fund categories in terms of their strategy and risk profile.

Why Did Long-Short SIFs Attract Attention?

Long-short strategies can potentially generate returns from both market opportunities and relative price movements.

Unlike a traditional long-only equity fund, a long-short strategy can use permitted short positions and derivatives for hedging, risk management or to express a view on particular securities or market segments.

However, greater flexibility also means that investors need to understand the strategy, leverage or derivative exposure, liquidity and associated risks before investing.

Six-Month Returns Should Not Be Viewed as Long-Term Performance

A 23.40% return in six months may appear substantial, but it represents performance over a relatively short period.

The official QSIF September 2026 factsheet also shows that its Equity Ex-Top 100 Long-Short strategy had a 24.25% six-month absolute return as of August 31, 2026. The difference from the ET/SIF360 figure highlights why investors should check the exact reporting date, methodology and source when comparing performance numbers.

Historical returns also do not guarantee future performance. Short-term performance can be influenced by market conditions, portfolio positioning, derivatives, volatility and other factors.

What Investors Should Check Before Considering a SIF

Investors evaluating SIF strategies should look beyond headline returns and examine:

• Investment strategy and portfolio construction

• Long and short exposure

• Derivative usage

• Market and liquidity risks

• Expense structure and applicable charges

• Minimum investment requirements

• Redemption terms

• Fund manager's strategy and track record

• Suitability for the investor's financial goals and risk tolerance

A strategy that has delivered a strong return over six months may have a very different risk profile from a conventional mutual fund.

QSIF Performance According to September 2026 Factsheet

The September 2026 QSIF factsheet provides another view of performance as of August 31, 2026. It reported six-month absolute returns of 24.25% for Equity Ex-Top 100 Long-Short, 14.33% for Equity Long-Short and 11.97% for Hybrid Long-Short. The Active Asset Allocator and Sector Rotation strategies had not yet completed six months in the reported period.

This distinction is important because the number of strategies, calculation methodology and reporting source can affect a performance comparison.

Key Takeaways

• Five SIF strategies recorded positive six-month returns in the ET/SIF360 analysis.

• QSIF Equity Ex-Top 100 Long-Short Fund recorded the highest return at 23.40%.

• QSIF Equity Long-Short Fund delivered 13.49%.

• QSIF Hybrid Long-Short Fund delivered 11.13%.

• Magnum Hybrid Long-Short Fund returned 7.65%.

• Altiva Hybrid Long-Short Fund returned 6.69%.

• The performance period was March 1 to August 31, 2026.

• These figures are historical absolute returns, not annualised returns.

• Strong short-term performance does not establish future returns or make a fund suitable for every investor.

Bottom Line

The latest SIF performance comparison shows that five strategies generated positive returns over the six months ended August 31, 2026, with QSIF Equity Ex-Top 100 Long-Short Fund recording the highest return in the Economic Times/SIF360 analysis at 23.40%.

However, SIFs use more specialised investment strategies than conventional mutual funds. Investors should therefore evaluate the underlying strategy, derivatives and long-short exposure, liquidity, costs and risk profile rather than selecting a fund solely because of its recent return.

Disclaimer: SIF and market-linked investments are subject to market risks. Past performance does not guarantee future returns. The figures mentioned above are historical performance data and should not be considered investment advice or a recommendation to invest.