Two months old. Past ₹2,000 crore.
Kotak’s Infinity SIF launched the Infinity Hybrid Long-Short Fund on 6 July 2026. On 3 September, its assets crossed ₹2,000 crore. At the end of July it held ₹859 crore.
That’s fast growth, and it’s the reason a few people have asked me about it. With only two months of NAV history, I don’t think returns tell you much yet. How the portfolio is put together tells you more, so that’s most of what this post covers.
First, what kind of fund this is
Infinity is the Specialised Investment Fund (SIF) brand of Kotak Mahindra Mutual Fund. SIFs are a newer SEBI category. They’re run by mutual fund houses but allowed more flexibility than a regular mutual fund, including limited short positions through derivatives. That comes with a higher minimum, ₹10 lakh across Infinity SIF strategies, and higher risk.
The two months so far
This is the absolute change in the Regular Plan Growth NAV. Both months ended higher than they started.
The fund is too new for its benchmark, the NIFTY 50 Hybrid Composite Debt 50:50 Index, to have a published comparison. So there’s no fund-versus-benchmark number here.
How the portfolio is built
As on 31 August, three parts did most of the work:
The balance sits in Triparty Repo and net current assets.
In plain terms: debt instruments are bonds and money market paper. Covered call means holding shares and selling call options against them, which earns a premium but caps the upside. Arbitrage earns the small gap between a share’s cash price and its futures price. Only 2.1% was a straightforward bet on the market going up.
What moved in August
Three changes stood out when I compared the July and August fact sheets.
A shorter duration means the bond portion is less sensitive to interest rate moves. Over the same stretch, the yield to maturity on the debt book moved from 6.88% to 6.40%.
The ₹2,000 crore mark
The official month-end figure for August was ₹1,771.57 crore, more than double the ₹859 crore at the end of July.
What I keep in mind
- Two months is not a track record. The fund hasn’t been through a market fall yet, so we don’t know how it behaves in one.
- Fast inflows change a portfolio quickly. August’s mix already looked quite different from July’s, and it may keep shifting as new money is put to work.
- Covered calls cap the upside. In a strong rally, this kind of fund is built to lag pure equity.
- It’s a SIF, not a regular mutual fund. The ₹10 lakh minimum and higher risk mean it isn’t suitable for every portfolio.
Sources: Infinity SIF fact sheets for 31 July and 31 August 2026. Milestone AUM of ₹2,021.76 crore as on 3 September 2026 is a Kotak Mahindra AMC internal figure; all other data as on 31 August 2026. All returns are absolute, Regular Plan Growth, not annualised.
Mutual Fund investments are subject to market risks, read all scheme related documents carefully.
Past performance may or may not be sustained in the future. Investments in SIF involve higher risk including potential loss of capital. This article is for information only and is not investment advice.
Ashish Jain · AMFI Reg. MFD · ARN-294841 · investingtfd.com