SIF Industry Records a Sharp Expansion in Investor Folios
India’s Specialised Investment Fund (SIF) industry witnessed a significant expansion during the July–September 2026 quarter, with total folios increasing by 106.65% to 1,55,017 from 75,013 at the end of June. The rise signals growing participation in a relatively new investment category that offers specialised strategies beyond conventional mutual fund offerings. The latest industry figures, based on Association of Mutual Funds in India (AMFI) data, also point to intensifying competition among fund houses as they seek to establish their presence in the emerging segment.
The increase of approximately 80,000 folios in a single quarter highlights the pace at which the SIF market is developing. However, folio growth should be interpreted carefully: folios represent investment accounts, not necessarily individual investors, because one investor may hold multiple folios. The expansion also does not, by itself, establish the amount of capital invested or the long-term sustainability of demand.
Altiva and qsif Emerge as Key Growth Drivers
Altiva SIF recorded the largest absolute addition during the quarter, adding 19,815 folios to reach 31,910. qsif SIF followed with 18,357 additional folios, taking its total to 27,613. Meanwhile, iSIF added 15,670 folios, strengthening its position as the largest SIF by account count.
Among established players with comparable June figures, qsif delivered the strongest percentage growth, expanding by approximately 198.33%. Altiva followed with 163.83% growth, while DynaSIF more than doubled its folio base.
The performance of these fund houses demonstrates that the competitive landscape is evolving rapidly. While absolute additions highlight the ability to attract new accounts, percentage growth provides a different perspective, particularly for fund houses building their presence from a smaller base.
Fund-Wise Folio Trends Reveal a Competitive Market
The September-quarter data shows that growth was broad-based, although the pace varied considerably across fund houses. Magnum SIF added 9,109 folios to reach 20,832, while Apex SIF recorded an increase of 826.58%, rising from 474 to 4,392 folios. The latter’s exceptionally high growth rate reflects its relatively small starting base.
Selected fund-wise figures are summarised below:
SIF | September folios | Quarterly growth |
|---|---|---|
iSIF | 41,991 | 59.53% |
Altiva SIF | 31,910 | 163.83% |
qsif SIF | 27,613 | 198.33% |
Magnum SIF | 20,832 | 77.70% |
DynaSIF | 4,787 | 110.05% |
Apex SIF | 4,392 | 826.58% |
Diviniti SIF | 1,629 | -14.76% |
Source: AMFI data for June and September 2026.
While most funds recorded increases, Diviniti SIF was the only fund in the comparison to report a decline, with folios falling by 14.76% to 1,629. Titanium SIF and Sapphire SIF posted comparatively modest growth of 13.36% and 17.12%, respectively. Infinity SIF, Summit SIF and Prism SIF reported September totals without comparable June figures.
What the Expansion Means for Fund Houses and Distributors
The rapid rise in folios creates opportunities for asset management companies and mutual fund distributors to broaden investor engagement with specialised investment strategies. However, the next stage of growth will depend on more than account acquisition. Fund houses will need to build investor understanding, maintain transparent communication around strategy risks and demonstrate consistent investment discipline.
Key indicators to monitor in the coming quarters include:
Assets under management (AUM): Whether folio growth translates into meaningful capital inflows.
Investor retention: Whether newly opened accounts remain active over time.
Distribution reach: Whether SIFs gain acceptance among eligible investors and financial intermediaries.
Investment outcomes: Whether strategies deliver results consistent with their stated objectives and risk profiles.
Sustaining Momentum Will Be the Next Challenge
The September-quarter figures mark an important milestone for India’s SIF industry, with the overall folio base more than doubling in three months. iSIF continues to lead by total folios, while Altiva and qsif have emerged as significant challengers through strong account additions. Going forward, sustained investor participation, responsible distribution and the conversion of account growth into durable assets will be crucial in determining whether the category can maintain its momentum.