- Category
- III
- Strategy
- Long-short
- Fund house
- Grey Sky Capital
Flexi Cap Fund
−2.50%
1-month return, after expenses, before tax
Benchmark BSE 500 TRI · data as of 30 Sep 2026
Flexi Cap Fund, a Category III long-short AIF from Grey Sky Capital, returned −2.50% (after expenses, before tax) over the month to 30 Sep 2026. It began on 31 Jul 2026 and manages ₹60.60 crore.
Key numbers
- AUM
- ₹60.60 Cr
- Benchmark
- BSE 500 TRI
- Launched
- 31 Jul 2026
- Min. investment
- ₹1 crore
- Returns basis
- After expenses, before tax
Returns
| Period | This fund | BSE 500 TRI |
|---|---|---|
| 1 month | −2.50% | −5.57% |
| Since inception | +0.77% | −5.26% |
After expenses, before tax, as Grey Sky Capital reports them, to 30 Sep 2026. AIFs report returns on different bases, so compare like with like.
Fund details
- Category
- Category III
- Strategy
- Long-short
- Market-cap style
- Flexi cap
- Asset type
- —
- Benchmark
- BSE 500 TRI
- Fund manager
- Shobhit Agarwal
Market-cap mix
- Large cap1.50%
- Mid cap18.20%
- Small cap79.60%
- Cash0.70%
The five largest holdings are 24.60% of the portfolio.
Investment approach
The Fund is a Category III AIF scheme seeking long-term capital appreciation through investments in securities with a medium to long-term horizon, aiming to deliver superior risk-adjusted returns via a disciplined, systematic and data-driven approach.The Fund Manager adopts a market-capitalisation and benchmark agnostic approach, anchored on a proprietary multi-factor quantitative model that scores the BSE 500 / Nifty 500 universe on momentum, value, quality and volatility factors. The investment philosophy emphasises factor-driven discipline to reduce behavioural biases, adaptive asset allocation for resilience across market cycles, unconstrained allocation flexibility (0-100% to any permitted asset class subject to applicable Regulations) and a conservative derivative overlay for yield enhancement and downside protection.
The Fund is a Category III AIF scheme seeking long-term capital appreciation through investments in securities with a medium to long-term horizon, aiming to deliver superior risk-adjusted returns via a disciplined, systematic and data-driven approach.The Fund Manager adopts a market-capitalisation and benchmark agnostic approach, anchored on a proprietary multi-factor quantitative model that scores the BSE 500 / Nifty 500 universe on momentum, value, quality and volatility factors. The investment philosophy emphasises factor-driven discipline to reduce behavioural biases, adaptive asset allocation for resilience across market cycles, unconstrained allocation flexibility (0-100% to any permitted asset class subject to applicable Regulations) and a conservative derivative overlay for yield enhancement and downside protection.
About the fund manager
Mr Shobhit Agarwal — Fund Manager
Mr. Shobhit Agarwal is a Chartered Accountant (All India Rank 6 in Finals) with a Bachelor’s degree in Commerce (Hons.) from Shri Ram College of Commerce (SRCC), University of Delhi. He has over 17 years of experience in financial services across fixed income, lending, treasury management and senior leadership. Shobhit spent over a decade with Deutsche Bank and Standard Chartered Bank in India managing fixed income portfolios and structuring solutions. He subsequently joined Navi, where he set up the treasury function, managing more than INR 5000 crores and later led the lending business, scaling the AUM from INR 500 crore to over INR 12,500 crore within three years. At Grey Sky Capital, Shobhit brings deep expertise in asset allocation, risk management, capital markets, credit evaluation, and business scaling. He has been appointed as the Principal Officer of Grey Sky Capital Private Limited (GSCPL), where he is responsible for all key decisions relating to portfolio and fund management, regulatory compliance, client management, and the overall operations of the Portfolio Management Services business in accordance with SEBI (Portfolio Managers) Regulations, 2020 and applicable industry standards.
As the fund house describes it.
FAQs
What has Flexi Cap Fund returned?
−2.50% (1-month return) to 30 Sep 2026, after expenses, before tax, as Grey Sky Capital reports it. 1 month: −2.50%; Since inception: 0.77%.
What kind of AIF is Flexi Cap Fund?
A Category III AIF following a long-short strategy, with a flexi cap style. Category III AIFs trade listed and unlisted securities and may use leverage and derivatives, including short positions.
How much does Flexi Cap Fund manage?
₹60.60 crore as of 30 Sep 2026.
What is the minimum investment in an AIF?
SEBI sets the minimum at ₹1 crore per investor (₹25 lakh for the fund’s own employees and directors). Flexi Cap Fund’s stated minimum is ₹1 crore.
Who manages Flexi Cap Fund?
Grey Sky Capital runs it; the fund manager is Shobhit Agarwal.
How are AIF returns reported?
Each fund house reports its own returns on its own basis: Flexi Cap Fund’s are after expenses, before tax. Bases differ from fund to fund, so compare like with like.
For information only. Not investment advice or a research report. Past performance does not guarantee future returns. AIF investments carry higher minimums and risks; read the private placement memorandum.
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