Summit Active Asset Allocator Long-Short Fund

Summit Active Asset Allocator Long-Short Fund is a Specialized Investment Fund (SIF) from Invesco Mutual Fund. To generate income by actively seeking arbitrage opportunities and investing across multiple asset classes, such as equity & equity related instruments, fixed income instruments and commodity derivatives, while taking limited short exposure on permitted instruments through derivatives to optimize returns and manage risk. There is no assurance that the investment objective of the Investment strategy will be achieved. Its benchmark is 40% Nifty 500 TRI + 40% CRISIL Short Term Bond Fund Index + 20% iCOMDEX Composite Index.

The minimum investment is Purchase: Rs. 10,00,000 and in multiples of Re. 1 thereafter. Switch-in: Rs. 1,00,000/- and in multiples of Re. 1/- thereafter. Accredited Investors: Rs. 1,00,000 and in multiples of Re. 1 thereafter. Minimum aggregate investment across all investment strategies of Summit SIF at PAN level: Rs. 10 lakhs. Minimum additional purchase: Rs. 1,000/- per application and in multiples of Re. 1/- thereafter. Minimum redemption / switch-out: Rs. 1,000/- in multiples of Re. 1/- thereafter..

Subscriptions: Investors can subscribe to the Investment Strategy on a daily basis at applicable NAV. Redemptions: Investors can redeem / switch out units of Investment Strategy on Every Monday and Every Wednesday of the week. In case Monday or Wednesday falls on a non-business day, then the immediately succeeding business day will be considered.

Exit load: If units are redeemed/switched out on or before 30 days from the date of allotment: 0.50%. If units are redeemed/switched-out after 30 days, but on or before 60 days from the date of allotment: 0.25%. If units are redeemed/switched-out after 60 days: Nil. Switch between the Plans under the Investment Strategy: Nil. Confirm the latest terms in the scheme's SID.

A SIF can take limited short positions through derivatives, which a regular mutual fund scheme generally cannot, and it has a higher minimum investment. That flexibility adds derivative, liquidity and manager-execution risk, so read the SID before investing.

The scheme is classified as Level 3 on the risk-o-meter shown on this page. SIFs are subject to market risk, and past performance is not indicative of future returns.

Tax depends on how much of the portfolio is held in equity and on the holding period, so it differs from an equity-oriented fund. Check the scheme's SID for its tax treatment and speak to a tax adviser before investing.