Key Takeaways
- • QSIF Equity Ex-Top 100 Long-Short Fund launched November 2025 as an open-ended equity SIF scheme by Quant Mutual Fund with a direct growth plan, targeting capital appreciation through predominantly long positions in ex-top 100 listed equities with limited short exposure via derivatives.
- • Latest NAV stands at ₹11.51 as of August 25, 2026, with an expense ratio of 0.95% (Direct Plan), positioning the fund as a low-cost alternative for institutional and individual investors seeking mid and small-cap exposure with hedging capability.
- • Fund management led by Lokesh Garg (MBA IIM Ahmedabad, B.Tech IIT Roorkee, CFP Level III) with prior experience at UBS, ICICI Bank Treasury, Infosys, and Kotak Institutional Equities, alongside Sanjeev Sharma (M.Com, PGDBA Symbiosis Pune) with 11+ years in fixed income and equity markets.
- • Top holdings concentrated in TREPS deposits (20.16%) and large-cap equities including Adani Energy Solutions (7.28%) and Caliber, reflecting a hybrid strategy blending fixed-income stability with selective equity exposure outside the NSE top 100.
- • Strategy designed for long-term capital appreciation by excluding top 100 companies and incorporating limited derivative-based short positions, offering differentiated exposure relative to traditional long-only mid and small-cap funds.
Summary
QSIF Equity Ex-Top 100 Long-Short Fund is a specialized investment fund scheme launched by Quant Mutual Fund in November 2025, structured as an open-ended equity fund with a direct growth plan. The fund targets long-term capital appreciation by predominantly investing in listed equities and equity-related securities of companies outside the top 100, combined with limited short exposure through derivatives. This positioning distinguishes it from conventional mid and small-cap equity funds by incorporating a hedging mechanism through controlled short positions.
As of August 25, 2026, the fund's net asset value (NAV) reached ₹11.51 per unit in its Direct Plan, with an expense ratio of 0.95%—a competitive fee structure for active management. The Direct Plan designation indicates availability primarily to sophisticated investors and institutional clients seeking to minimize intermediation costs. Fund performance metrics, including 1-year, 3-year, and 5-year returns, are tracked alongside NAV data, though specific return figures were not disclosed in available sources.
Fund management is helmed by Lokesh Garg, who holds an MBA from IIM Ahmedabad and a B.Tech from IIT Roorkee, complemented by CFP Level III certification. Garg brings institutional capital markets experience from roles at UBS, ICICI Bank (Treasury division), Infosys, and Kotak Institutional Equities. He is supported by Sanjeev Sharma, a M.Com with PGDBA credentials from Symbiosis Pune and professional certifications in treasury, forex, and risk management from the London Academy of Professional Education & Research Organisation. Sharma contributes over 11 years of financial sector experience spanning fixed income and equity market operations.
Portfolio positioning reflects a hybrid allocation strategy, with top holdings including TREPS (tri-party repo securities) deposits at 20.16%, Adani Energy Solutions at 7.28%, and Caliber among core positions. This composition suggests the fund maintains a significant defensive cash-equivalent buffer while maintaining selective exposure to energy and infrastructure equities outside the top 100 universe. The fund structure positions it as a differentiated offering within India's alternative asset management landscape, appealing to institutional investors and family offices seeking mid-market equity exposure with built-in downside protection through derivative-based hedging.
As of August 25, 2026, the fund's net asset value (NAV) reached ₹11.51 per unit in its Direct Plan, with an expense ratio of 0.95%—a competitive fee structure for active management. The Direct Plan designation indicates availability primarily to sophisticated investors and institutional clients seeking to minimize intermediation costs. Fund performance metrics, including 1-year, 3-year, and 5-year returns, are tracked alongside NAV data, though specific return figures were not disclosed in available sources.
Fund management is helmed by Lokesh Garg, who holds an MBA from IIM Ahmedabad and a B.Tech from IIT Roorkee, complemented by CFP Level III certification. Garg brings institutional capital markets experience from roles at UBS, ICICI Bank (Treasury division), Infosys, and Kotak Institutional Equities. He is supported by Sanjeev Sharma, a M.Com with PGDBA credentials from Symbiosis Pune and professional certifications in treasury, forex, and risk management from the London Academy of Professional Education & Research Organisation. Sharma contributes over 11 years of financial sector experience spanning fixed income and equity market operations.
Portfolio positioning reflects a hybrid allocation strategy, with top holdings including TREPS (tri-party repo securities) deposits at 20.16%, Adani Energy Solutions at 7.28%, and Caliber among core positions. This composition suggests the fund maintains a significant defensive cash-equivalent buffer while maintaining selective exposure to energy and infrastructure equities outside the top 100 universe. The fund structure positions it as a differentiated offering within India's alternative asset management landscape, appealing to institutional investors and family offices seeking mid-market equity exposure with built-in downside protection through derivative-based hedging.
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