Equity Fund Inflows Dip 15% in July; New Altiva Fund Launched

Equity mutual fund inflows experienced a notable 15% decline in July, totaling ₹24,697 crore. This figure represents a decrease from the ₹28,973 crore recorded in June, according to data released by the Association of Mutual Funds in India (Amfi).

Despite this overall moderation in the market, investor preference remained strong for mid-cap and small-cap schemes. This trend underscores a continued appetite for specific segments within the equity mutual fund landscape.

Altiva Equity Ex Top 100 Fund Details

In a related development, the Altiva Equity Ex Top 100 Long Short Fund Direct Growth has been launched. This Specialized Investment Fund (SIF) is regulated by SEBI, providing fund managers with flexibility for concentrated, strategy-driven portfolios.

The fund’s primary objective is to generate long-term capital appreciation. It achieves this by predominantly investing in equity and equity-related securities of companies outside the top 100.

• Net Asset Value (NAV) as of August 7, 2026: ₹11.06
• Minimum SIP investment: ₹1,000
• Minimum first investment: ₹10,00,000
• Minimum subsequent investment: ₹1,000
• Expense ratio (inclusive of GST): 0.61%
• Exit load: 0.50% if redeemed within 90 days

Investment Strategy and Holdings

The investment strategy permits exposure to various derivative instruments, including short positions. Unhedged derivative positions in equity and equity-related instruments of Ex top 100 stocks are allowed up to 25%.

• Top holdings include: Reverse Repo, Radico Khaitan Ltd, Billionbrains Garage Ventures Ltd., Bharat Dynamics Ltd, and JSW Infrastructure Ltd.

Fund Management and Performance

The Altiva fund is managed by a team of three professionals who all joined in May 2026. These managers bring extensive experience from various financial institutions.

• Nikhil Gada: CFA (USA), MBA-Finance, B.E (EXTC); prior experience at Abakkus Asset Managers, Asian Market Securities, CLSA India, and Morgan Stanley.
• Trideep Bhattacharya: B.Tech (Electrical Engineer), MBA (Finance); previously with Axis Mutual Fund, State Street Global Advisors, UBS Global Asset Management, and Kotak Securities.
• Amit Vora: B.Com from the University of Mumbai; experience at Antique Stock Broking Ltd, D.E. Shaw India Securities Pvt. Ltd, and other firms.

The fund became available to investors on August 9, 2026, following its inception on June 8, 2026. Since its inception, the fund has delivered an average annual return of 10.64%.

The current market landscape sees a moderation in overall equity mutual fund inflows, yet specialized offerings like the Altiva Equity Ex Top 100 Long Short Fund continue to emerge, providing diverse avenues for capital appreciation outside traditional large-cap focus.