Specialised Investment Funds (SIFs) are now showing a clear performance hierarchy, with Quant Mutual Fund emerging as the dominant player across several strategies.
The July report tracks five categories on ValueResearch. Quant’s strategies lead three of them.
qSIF AAA (Active Asset Allocator) has delivered the highest since‑inception return at 15.85% as of August 19.
Its qSIF Ex‑Top 100 and qSIF Equity follow with 13.43% and 9.78% returns, placing Quant at the top of the Active Asset Allocator, Equity Ex‑Top 100 and Equity Long‑Short categories.
In the Hybrid Long‑Short category, Edelweiss’ Altiva Hybrid is the strongest performer with a 10.11% return.
Quant’s qSIF Hybrid is close behind at 9.39%, while Aditya Birla Sun Life’s Apex Hybrid returns 6.52% and ICICI Prudential’s iSIF Hybrid 7.37%.
For Equity Long‑Short, qSIF Equity leads with 9.78%, ahead of 360 ONE’s DynaSIF Equity at 7.96% and Bandhan’s Arudha Equity at 7.29%.
WhiteOak Capital’s WSIF Equity and ICICI Prudential’s iSIF Equity follow with 6.25% and 4.00% respectively.
The Equity Ex‑Top 100 category shows a wider gap: qSIF Ex‑Top 100 leads at 13.43%, Edelweiss’ Altiva Ex‑Top 100 at 12.96% and WhiteOak’s WSIF Ex‑Top 100 at 7.20%.
The report cautions that different launch dates and observation periods mean that since‑inception returns are not directly comparable.
It also notes that 26 of 27 comparable strategies posted positive monthly returns, highlighting broad gains across the emerging SIF universe.
Before investing in SIFs, investors should understand that these products offer greater flexibility and access to sophisticated strategies, but they also carry higher complexity and risk.
Dharmendra Jain, Co‑founder of Ionic Wealth, said, “SIFs should not be viewed simply through the lens of recent returns. Their real appeal lies in the flexibility they offer across strategies, but that flexibility also brings greater complexity and risk.”
Gaurik Shah, Sr. VP – Equity Investments at Mirae Asset Mutual Fund, added, “The key is to understand the underlying strategy, its source of alpha, the role of derivatives and hedging, and the risks involved.”
He also warned that the sophistication of a strategy should not be confused with higher or assured returns.
Ultimately, investors should focus on the investment process, risk‑management framework, costs, liquidity and their own investment horizon and risk appetite.
SIFs differ from traditional mutual funds by providing more flexibility and access to institutional‑style strategies within a regulated framework.
Investors must assess how a SIF fits into their overall portfolio rather than using it as a replacement for conventional mutual funds.