Research preview: Specialized Investment Fund (SIF) profiles show source evidence and known gaps. Verify official documents before relying on any data point.

Review methodology
elitefunds
SIF-first research
iSIF by ICICI Prudential Mutual Fund official SIF-family mark

Equity-Oriented

ICICI Prudential Mutual Fund

iSIF Equity Ex-Top 100 Fund

An equity SIF strategy focused on opportunities outside the top 100 listed companies.

launchedEquity Ex-Top 100Evidence sufficient for review. Enough evidence is available for a meaningful research review, not a suitability decision. This reflects evidence coverage, NAV freshness, and document availability. It is not a performance rating or investment recommendation.
Compare this SIFOpen performance deskCheck official documents

Research summary

Review brief

The available documents and NAV history support comparison, while personal suitability still needs professional judgment.

Research context

Investors evaluating equity strategies outside the largest listed companies

Review carefully if

Ex-top-100 exposure can carry liquidity and drawdown risk

Next source check

Review minimum investment: SIF ticket size and accredited-investor variations must be checked from current documents.

Source dates matter: a document can remain useful even when a newer reporting period is not yet available.

NAV by plan and option

AMFI source checked 18 Sept 2026

2 verified rows
Latest NAV by Direct and Regular plan for Growth and IDCW options
OptionDirectRegular
Growth

₹10.3000

17 Sept 2026

₹10.2100

17 Sept 2026

IDCWNo AMFI rowNo AMFI row

IDCW distribution history

No reviewed IDCW NAV row is currently published.

Event review pending

Daily IDCW NAV is not a payout record. No distribution amount or date is inferred from NAV movement.

Source identifiers

Direct Growth · AMFI SIF-33 · payout/growth ISIN INF109K30042

Regular Growth · AMFI SIF-34 · payout/growth ISIN INF109K30034

Open official NAV sourceOpen official option source

Decision facts

Six facts to check before shortlisting.

Read these alongside the Risk-band and performance sections. Dates and source links remain attached to each value.

Minimum investment

As per scheme documents

Source found
Why this matters

If the investor cannot meet the ticket size or suitability threshold, use mutual fund alternatives instead.

View source

Investment Strategy Information Document / Source reviewed 8 Sept 2026

Liquidity / exit terms

Scheme-specific exit and redemption terms

Source found
Why this matters

Liquidity can matter more than returns if the investor may need money quickly or cannot tolerate interval restrictions.

View source

Investment Strategy Information Document / Source reviewed 8 Sept 2026

Fund manager / team

Fund managers: Sankaran Naren, managing since Feb-2026 with overall 36 years of experience; Manan Tijoriwala, managing since Feb-2026 with overall 13 years of experience; and Divya Jain, managing since Feb-2026 with overall 10 years of experience.

Available
Why this matters

Manager identity and relevant strategy experience help judge process credibility, but should come from official AMC evidence.

View source

Official ICICI Prudential iSIF factsheet / Source reviewed 2 Jul 2026

AUM

Monthly AAUM as on 31-Mar-2026: Rs. 1,157.33 crore; closing AUM as on 31-Mar-2026: Rs. 1,224.44 crore.

Available
Why this matters

AUM affects liquidity, scalability, concentration, and whether returns are coming from a very small base.

View source

Official ICICI Prudential iSIF factsheet / Source reviewed 2 Jul 2026

TER / costs

Total Expense Ratio as on 31-Mar-2026: Regular 2.15%; Direct 0.75%.

Available
Why this matters

Costs are essential before comparing a SIF against mutual funds or deciding whether a complex strategy is worth it.

View source

Official ICICI Prudential iSIF factsheet / Source reviewed 2 Jul 2026

Exit load / dealing rules

Exit Load: 1% of applicable Net Asset Value if the amount is redeemed or switched out within 12 months from allotment; nil if redeemed or switched out more than 12 months from allotment.

Available
Why this matters

Exit loads, notice periods, and dealing frequency can change suitability even when the strategy looks attractive.

View source

Official ICICI Prudential iSIF Equity Ex-Top 100 KIM / Source reviewed 2 Jul 2026

Questions to resolve before shortlisting

What market condition is this strategy designed to handle best?

How does the scheme manage downside risk and liquidity pressure?

Which investor profile is explicitly not suitable for this SIF?

Risk band

Strategy and benchmark are shown separately.

A higher number indicates a higher position on the five-level Risk-band. It is one suitability input, not a complete risk verdict.

Five-level scale

Investment strategy

As of 31 Mar 2026

Lower riskHigher risk

Risk Band Level 5

View source

Source reviewed 15 Sept 2026

Benchmark

As of 31 Mar 2026

Lower riskHigher risk

Risk Band Level 3

View source

Source reviewed 5 Sept 2026

Performance evidence

Return context, with the comparison limit visible.

This is a source-matched comparison, not a return ranking. Move from market context to same-strategy SIF peers or a relatable mutual fund without hiding the limits of each lens.

Explore full analytics
Official scheme benchmark: Not captured yet

Comparison lens

Market context

The SIF and public TRI are rebased on their exact common dates. The index is a market lens, not the official scheme benchmark.

iSIF Equity Ex-Top 100 FundNifty Midcap 150 TRI
Market context: indexed growthiSIF Equity Ex-Top 100 Fund, Nifty Midcap 150 TRI over 151 exact common-date observations from 05 Feb 2026 to 16 Sept 2026.
05 Feb 202616 Sept 2026

Every series is rebased to 100 on the first exact common date; values are not NAV levels.

This SIF return

+1.30%

Exact common window

Comparator return

+2.47%

Nifty Midcap 150 TRI; same dates and basis

Return difference

-1.17%

SIF minus selected comparator

Maximum drawdown

-10.54% / -13.08%

SIF / comparator

Annualized volatility

12.11% / 17.76%

Observed daily variability; SIF / comparator

Common observations

151

05 Feb 2026 to 16 Sept 2026

Comparison limit: Use this lens to study market participation, not to judge a hybrid mandate as though it were a pure-equity fund.

Sources, calculations and risk-ratio policy

iSIF Equity Ex-Top 100 Fund

AMFI daily SIF NAV | Regular Growth

Open source

Data through 16 Sept 2026. Snapshot checked 18 Sept 2026. Automated daily snapshot after identity, freshness, and history QA.

Nifty Midcap 150 TRI

NSE Indices TRI snapshot | Total Return Index

Open source

Data through 16 Sept 2026. Snapshot checked 17 Sept 2026. Automated benchmark snapshot; exact common dates only.

Returns, drawdowns, and volatility are calculated by elitefunds from exact common-date observations. Automated fields refresh with the scheduled data pipeline and remain subject to source QA.

Risk-ratio guardrail

Sharpe and Sortino are withheld while the strategy has less than 36 months of observed history. Publishing either ratio now would turn a short launch record into a misleading precision signal.

Strategy lens

Equity Ex-Top 100

An equity strategy focused away from the largest listed companies, typically requiring more attention to liquidity and portfolio construction.

For MF investors: For a mutual fund investor, this sits closer to differentiated mid/small-cap style research than broad-market core equity exposure.

How the ex-top-100 universe is defined in official documents.

Liquidity and concentration risk in the portfolio disclosure.

Whether the strategy is suitable as a satellite rather than a core allocation.

Usually fits

Usually studied by investors comfortable with higher equity risk and potentially less liquid opportunity sets.

Review carefully

Differentiated exposure can amplify drawdowns if portfolio liquidity or concentration is poorly understood.

Mutual fund bridge

Mutual fund context if this SIF is not suitable

For iSIF Equity Ex-Top 100 Fund, compare conventional mutual funds when the Rs. 10 lakh SIF ticket, liquidity terms, or strategy complexity is not suitable. A same-AMC option is identified where the curated universe supports it.

Not equivalent to SIF

Mid/small-cap lower-ticket comparison

Ex-top-100 equity context

9 curated MFs

For investors evaluating beyond-large-cap opportunities but needing a conventional mutual fund structure and lower starting ticket.

Same-AMC conventional starting point

ICICI Prudential Large & Mid Cap FundSame AMC

Fund-house continuity only; the mutual fund does not replicate the SIF mandate, short book, or liquidity terms.

Why compare, carefully

Use these funds to benchmark return dispersion, drawdowns, liquidity stress, and mid/small-cap participation versus ex-top-100 SIF mandates.

Key limitation

Mid-cap and small-cap mutual funds are long-only products; they do not recreate the short-book, hedging, or SIF-specific mandate flexibility.

Compare using

  • • Capture versus Nifty MidSmallcap 400 TRI
  • • Drawdown depth in stressed months
  • • Rolling return consistency

Same AMC identifies fund-house continuity only. It does not imply closer equivalence, superior suitability, or a recommendation.

Open the mutual fund section for the full category map, live NAV context, and broader peer set.

View MF alternatives

Sources and documents

Open the document behind a decision fact.

Each document is linked to the information it supports. Check its date when a current value matters to your decision.

Source ledger

6 tracked document types with source and check-date details.

ISID / offer document

Source checked

AMFI-hosted iSIF ISID checked for scheme identity, plans, minimum investment, and exit load.

Open document

Document link checked 8 Sept 2026

Factsheet

Source checked

ICICI Prudential March 2026 iSIF factsheet checked for the Equity Ex-Top 100 strategy.

Open document

Document link checked 8 Sept 2026

AUM / AAUM disclosure

Additional source not linked

AUM is available from the linked source. A separate AUM / AAUM disclosure is not linked yet.

Document not linked

Check date pending

NAV source

Source checked

AMFI latest-NAV feed supplies the plan-and-option rows used by the daily NAV refresh.

Open document

Document link checked 8 Sept 2026

Portfolio disclosure

Source checked

ICICI Prudential iSIF factsheet includes holdings and exposure disclosure as of 31 March 2026.

Open document

Document link checked 8 Sept 2026

Risk-band

Source checked

AMFI current strategy summary retains the latest dated Risk Band 5 observation as of 31 March 2026.

Open document

Document link checked 8 Sept 2026

Open full document roomReview methodology

How to proceed

Research here. Invest only through authorized channels.

elitefunds is a research and evidence interface. It does not provide recommendations, advisory services, or transaction execution.

Read process

Research first

Use elitefunds to understand the SIF universe, NAV context, strategy, documents, and source gaps.

Verify official sources

Open the AMC, factsheet, ISID, KIM, dated Risk-band, and portfolio disclosures before relying on any profile.

Proceed through authorized channels

If you choose to invest, use an authorized distributor, advisor, or official AMC channel. elitefunds does not execute transactions.

Before proceeding with this SIF

Is iSIF Equity Ex-Top 100 Fund suitable for the role you want in the portfolio?

Have NAV freshness, liquidity terms, taxation, and dated Risk-band evidence been checked?

Has the fund manager/team evidence been verified from official documents?

Which authorized distributor, advisor, or AMC channel will handle execution if you proceed?