Sundaram Mutual Enters SIF Market With Select Equity Ex-Top 100 Long-Short Fund

Key Takeaways

• Sundaram Mutual has entered the Specialised Investment Fund segment through its Select SIF platform. 
• Its first strategy primarily targets companies outside India's largest 100 stocks and can take limited short positions using derivatives. 
• The NFO opened on October 21 and is scheduled to close on November 4, 2026. 

Sundaram Mutual Fund has entered India's Specialised Investment Fund market with the launch of the Select Equity Ex-Top 100 Long-Short Fund. 

The strategy is being offered under Sundaram's Select SIF platform. Its new fund offer opened on October 21 and will remain open until November 4, according to the fund house. 

The portfolio will focus primarily on stocks outside India's 100 largest listed companies by market capitalisation. Under the SIF framework for the category, at least 65% of the portfolio is directed towards the ex-top-100 universe. 

The strategy also has flexibility to use derivatives to establish limited short exposure. Short positions can extend up to 25%, giving the fund manager tools that are generally not available to conventional long-only equity mutual fund schemes. 

The minimum investment applicable to SIFs is substantially higher than for ordinary retail mutual funds. Sundaram's strategy carries a minimum investment requirement of ₹10 lakh in line with the SIF framework. 

Specialised Investment Funds occupy a space between conventional mutual funds and more complex investment products. They remain regulated within the mutual fund ecosystem but permit a broader range of portfolio strategies, including limited unhedged derivative positions. 

Sundaram's entry also adds another fund house to a segment that has expanded quickly since the introduction of SIFs. 

Data cited by Moneycontrol showed total SIF assets of more than ₹38,000 crore as of September 30, 2026, spanning multiple strategies and asset managers. 

The launch increases the number of available equity ex-top-100 long-short strategies. Performance across existing products in this category has varied considerably, reflecting differences in portfolio construction, timing and the use of short positions.