An equity long-short fund uses two types of positions to pursue its objective: long positions in securities it expects to appreciate, and short positions that aim to benefit when selected securities decline in value. This combination allows the fund to seek returns while managing market risk, rather than depending on rising markets alone. Apex Equity Ex-Top 100 Long- Short Fund applies this approach to the mid and small cap segment.

Traditional mid and small cap equity funds are long-only — they can gain only when their holdings appreciate. Apex Equity Ex-Top 100 Long-Short Fund invests in the same mid and small cap segment but adds the ability to take short positions through derivatives. This lets it adjust its net equity exposure as conditions change, which the strategy uses with the aim of managing the higher volatility typically associated with mid and small cap investing.

The recommended investment horizon is more than three years. Mid and small cap strategies can take time to realise their potential, and a longer horizon also allows the long-short and derivative approach to work through different market cycles.

The Apex Equity Ex-Top 100 Long-Short Fund may suit investors, including HNIs, seeking exposure to the mid and small cap segment through an actively managed, risk-aware strategy. Investors should assess their financial goals, risk appetite, and consult a financial adviser before investing.

The fund invests 65–100% in mid and small cap equities (101st–500th listed companies), up to 35% in other equity instruments, up to 35% in debt instruments, and up to 20% in InvITs. It may also use derivatives up to 100% and unhedged short positions up to 25%. For complete details, refer to the Scheme Information Document (SID)