MIRAE ASSET
ARBITRAGE FUND - (MAAF)
(Arbitrage Fund - An open ended scheme investing in arbitrage opportunities)
| Type of Scheme | Arbitrage Fund - An open ended scheme investing in arbitrage opportunities |
| Investment Objective | The investment objective of the scheme is to generate capital appreciation and income by predominantly investing in arbitrage opportunities in the cash and derivative segments of the equity markets and the arbitrage opportunities available within the derivative segment and by investing the balance in debt and money market instruments. There is no assurance or guarantee that the investment objective of the scheme will be realized. |
Fund Manager** |
Mr. Jignesh Rao (Equity portion) (since June 19, 2020), Mr. Jigar Sethia (Equity portion) (since June 19, 2020) & Mr. Mahendra Jajoo (Debt portion) (since June 19, 2020) |
| Allotment Date | 19 June, 2020 |
| Benchmark Index | NIFTY 50 Arbitrage Index |
| Minimum Investment Amount |
₹ 5,000/- and inmultiples of ₹ 1/- thereafter Minimum Additional Application Amount: ₹ 1,000/- per application and inmultiples of ₹ 1/- thereafter. |
Systematic Investment Plan (SIP) (Any Date SIP is available from 1st July, 2019) |
Monthly and Quarterly: ₹ 1,000/- (multiples of ₹ 1/- thereafter), minimum 5 in case of Monthly or 3 in case of Quarterly option. |
| Load Structure | Entry load: NA Exit Load: 0.25% if redeemed or switched out within 30 days from the date of allotment Nil after 30 days |
| Plans Available | Regular Plan and Direct Plan |
| Options Available | Growth Option and IDCW^ Option (Payout & Re-investment) |
| Monthly Average AUM (₹ Cr.) as on November 30, 2021 | 455.96 |
| Net AUM (₹ Cr.) |
446.04 |
| Monthly Avg. Expense Ratio (Including Statutory Levies) as on November 30, 2021 |
Regular Plan: 1.09% Direct Plan: 0.38% |
| **For experience of Fund Managers Click Here | |
| ^Pursuant to Notice cum addendum dated March 27, 2021 the nomenclature of dividend option has been changed w.e.f. April 01, 2021. | |
| NAV: | Direct | Regular |
| Growth | ₹ 10.623 | ₹ 10.519 |
| IDCW | ₹ 10.622 | ₹ 10.518 |
Weighted Average Maturity |
1.10 Years |
Modified Duration |
1.04 Years |
Macaulay Duration |
1.07 Years |
Yield to Maturity |
4.16% |
| New Position Bought |
| Stock |
| Finance |
| Cholamandalam Investment and Finance Company Limited |
| Minerals/Mining |
| Coal India Limited |
| Transportation |
| Container Corporation of India Limited |
| Chemicals |
| Deepak Nitrite Limited |
| Banks |
| HDFC Bank Limited |
| Insurance |
| ICICI Lombard General Insurance Company Limited |
| ICICI Prudential Life Insurance Company Limited |
| HDFC Life Insurance Company Limited |
| Auto |
| Hero MotoCorp Limited |
| Transportation |
| Indian Railway Catering And Tourism Corporation Limited |
| Gas |
| Indraprastha Gas Limited |
| Ferrous Metals |
| Tata Steel Limited |
| Non - Ferrous Metals |
| Vedanta Limited |
| Positions Exited |
| Stock |
| Pharmaceuticals |
| Alkem Laboratories Limited |
| Biocon Limited |
| Divi's Laboratories Limited |
| Banks |
| Canara Bank |
| Consumer Non Durables |
| Godrej Consumer Products Limited |
| Havells India Limited |
| Capital Markets |
| HDFC Asset Management Company Limited |
| Ferrous Metals |
| JSW Steel Limited |
| Finance |
| Shriram Transport Finance Company Limited |
| Ferrous Metals |
| Steel Authority of India Limited |
| Consumer Non Durables |
| Tata Consumer Products Limited |
| United Breweries Limited |
| Entertainment |
| Zee Entertainment Enterprises Limited |
| Positions Increased |
| Stock |
| Auto |
| Escorts Limited |
| Auto Ancillaries |
| Amara Raja Batteries Limited |
| Entertainment |
| Sun TV Network Limited |
| Non - Ferrous Metals |
| National Aluminium Company Limited |
| Power |
| Tata Power Company Limited |
| Software |
| Tata Consultancy Services Limited |
| Positions Decreased |
| Stock |
| Ferrous Metals |
| Jindal Steel & Power Limited |
| Finance |
| Bajaj Finance Limited |
| Pharmaceuticals |
| Sun Pharmaceutical Industries Limited |
| Software |
| Tata Consultancy Services Limited |
| Portfolio Holdings | % Allocation | |
| Banks | ||
| Axis Bank Ltd | 3.86% | |
| HDFC Bank Ltd | 3.19% | |
| Kotak Mahindra Bank Ltd | 2.73% | |
| State Bank of India | 2.54% | |
| AU Small Finance Bank Ltd | 1.62% | |
| The Federal Bank Ltd | 0.97% | |
| ICICI Bank Ltd | 0.70% | |
| Consumer Non Durables | ||
| Colgate Palmolive (India) Ltd | 2.01% | |
| Dabur India Ltd | 1.98% | |
| ITC Ltd | 1.81% | |
| Britannia Industries Ltd | 1.62% | |
| Godrej Consumer Products Ltd | 1.54% | |
| Nestle India Ltd | 0.88% | |
| United Spirits Ltd | 0.05% | |
| Software | ||
| Tata Consultancy Services Ltd | 2.24% | |
| Wipro Ltd | 2.17% | |
| MindTree Ltd | 1.34% | |
| Infosys Ltd | 0.73% | |
| Transportation | ||
| Adani Ports and Special Economic Zone Ltd | 3.32% | |
| Container Corporation of India Ltd | 1.74% | |
| Pharmaceuticals | ||
| Sun Pharmaceutical Industries Ltd | 1.84% | |
| Alkem Laboratories Ltd | 1.14% | |
| Biocon Ltd | 0.69% | |
| Aurobindo Pharma Ltd | 0.06% | |
| Insurance | ||
| SBI Life Insurance Company Ltd | 2.28% | |
| ICICI Prudential Life Insurance Company Ltd | 1.20% | |
| Auto | ||
| Tata Motors Ltd | 2.11% | |
| Escorts Ltd | 0.64% | |
| Ashok Leyland Ltd | 0.58% | |
| Entertainment | ||
| Sun TV Network Ltd | 2.93% | |
| Zee Entertainment Enterprises Ltd | 0.35% | |
| Cement & Cement Products | ||
| UltraTech Cement Ltd | 2.97% | |
| Consumer Durables | ||
| Titan Company Ltd | 2.36% | |
| Petroleum Products | ||
| Reliance Industries Ltd* | 2.26% | |
| Power | ||
| Tata Power Company Ltd | 2.13% | |
| Finance | ||
| SBI Cards and Payment Services Ltd | 0.63% | |
| Mahindra & Mahindra Financial Services Ltd | 0.53% | |
| Cholamandalam Investment and Finance Company Ltd | 0.49% | |
| Housing Development Finance Corporation Ltd | 0.18% | |
| Ferrous Metals | ||
| Tata Steel Ltd | 1.22% | |
| JSW Steel Ltd | 0.28% | |
| Capital Markets | ||
| Multi Commodity Exchange of India Ltd | 1.34% | |
| Auto Ancillaries | ||
| Balkrishna Industries Ltd | 0.82% | |
| Chemicals | ||
| Tata Chemicals Ltd | 0.37% | |
| Equity Holding Total | 66.45% | |
| Equity Futures | ||
| United Spirits Ltd December 2021 Future | -0.05% | |
| Aurobindo Pharma Ltd December 2021 Future | -0.06% | |
| HDFC Ltd December 2021 Future | -0.18% | |
| JSW Steel Ltd December 2021 Future | -0.28% | |
| Zee Entertainment Enterprises Ltd December 2021 Future | -0.35% | |
| Tata Chemicals Ltd December 2021 Future | -0.37% | |
| Cholamandalam Investment and Finance Company Ltd December 2021 Future | -0.49% | |
| Mahindra & Mahindra Financial Services Ltd December 2021 Future | -0.53% | |
| Ashok Leyland Ltd December 2021 Future | -0.58% | |
| SBI Cards and Payment Services Ltd December 2021 Future | -0.63% | |
| Escorts Ltd December 2021 Future | -0.64% | |
| Biocon Ltd December 2021 Future | -0.69% | |
| ICICI Bank Ltd December 2021 Future | -0.71% | |
| Infosys Ltd December 2021 Future | -0.73% | |
| Balkrishna Industries Ltd December 2021 Future | -0.82% | |
| Nestle India Ltd December 2021 Future | -0.88% | |
| The Federal Bank Ltd December 2021 Future | -0.97% | |
| Alkem Laboratories Ltd December 2021 Future | -1.15% | |
| ICICI Prudential Life Insurance Company Ltd December 2021 Future | -1.20% | |
| Tata Steel Ltd December 2021 Future | -1.23% | |
| MindTree Ltd December 2021 Future | -1.34% | |
| Multi Commodity Exchange of India Ltd December 2021 Future | -1.35% | |
| Godrej Consumer Products Ltd December 2021 Future | -1.55% | |
| AU Small Finance Bank Ltd December 2021 Future | -1.62% | |
| Britannia Industries Ltd December 2021 Future | -1.63% | |
| Container Corporation of India Ltd December 2021 Future | -1.74% | |
| ITC Ltd December 2021 Future | -1.82% | |
| Sun Pharmaceutical Industries Ltd December 2021 Future | -1.85% | |
| Dabur India Ltd December 2021 Future | -1.99% | |
| Colgate Palmolive (India) Ltd December 2021 Future | -2.02% | |
| Tata Motors Ltd December 2021 Future | -2.12% | |
| Tata Power Company Ltd December 2021 Future | -2.14% | |
| Wipro Ltd December 2021 Future | -2.18% | |
| Tata Consultancy Services Ltd December 2021 Future | -2.25% | |
| Reliance Industries Ltd* | -2.27% | |
| SBI Life Insurance Company Ltd December 2021 Future | -2.29% | |
| Titan Company Ltd December 2021 Future | -2.36% | |
| State Bank of India December 2021 Future | -2.55% | |
| Kotak Mahindra Bank Ltd December 2021 Future | -2.73% | |
| Sun TV Network Ltd December 2021 Future | -2.93% | |
| UltraTech Cement Ltd December 2021 Future | -2.97% | |
| HDFC Bank Ltd December 2021 Future | -3.19% | |
| Adani Ports and Special Economic Zone Ltd December 2021 Future | -3.33% | |
| Axis Bank Ltd December 2021 Future | -3.87% | |
| Equity Futures Total | -66.62% | |
| Government Bond | ||
| 6.84% GOI (19/12/2022) | 6.90% | |
| 6.18% GOI (04/11/2024) | 3.46% | |
| 3.96% GOI (09/11/2022) | 3.36% | |
| Government Bond Total | 13.72% | |
| Treasury Bill | ||
| 364 Days Tbill (19/08/2022) | 6.54% | |
| 364 Days Tbill (30/12/2021) | 1.57% | |
| 364 Days Tbill (04/08/2022) | 1.09% | |
| 364 Days Tbill (11/08/2022) | 1.09% | |
| 364 Days Tbill (25/08/2022) | 1.09% | |
| Treasury Bill Total | 11.38% | |
| Cash & Other Receivables Total | 75.07% | |
| Total | 100.00% | |
| Returns (in%) | ||||
| 1 Yr | SI | |||
| MAAF | 3.76 |
3.55 |
||
| Scheme Benchmark* | 4.14 |
3.38 |
||
| Additional Benchmark** | 3.49 |
3.61 |
||
| NAV as on 30th November, 2021 | 10.519 | |||
| Index Value (30th November, 2021) | Index Value of Scheme benchmark is 1,997.39 and CRISIL 1 Year T-Bill is 6,246.02 |
|||
| Allotment Date | 19th June, 2020 | |||
| Scheme Benchmark | *Nifty 50 Arbitrage Index | |||
| Additional Benchmark | **CRISIL 1 Year T-Bill | |||
Note:1. Different Plans under the scheme has different expense structure. The reference and details provided herein are of Regular Saving Plan - Growth Option.
2. Fund manager : Mr. Jignesh Rao (since June 19, 2020), Mr. Jigar Sethia (since June 19, 2020) and Mr. Mahendra Jajoo (Debt Portion) (since June 19, 2020)
| Period | Total Amount Invested | Mkt Value as on 30-November-2021 |
SI |
170,000 |
174,807 |
1 Yr |
120,000 |
122,482 |
Returns (%) |
Period |
|
SI |
1yr |
|
Fund Return& (%) |
3.79 |
3.87 |
Benchmark Return& (%) |
3.88 |
3.91 |
Add. Benchmark Return& (%) |
3.53 |
3.46 |
& The SIP returns are calculated by XIRR approach assuming investment of ₹ 10,000/- on the 1st working day of every month.
This product is suitable for investors who are seeking*
• Income over short term
• Investments predominantly in arbitrage opportunities in the cash and derivative segments and the arbitrage opportunities available within the derivative segment
• Degree of risk - Low
*Investors should consult their financial advisers if they are not clear about the suitability of the product.
Past Performance may or may not be sustained in future.
Note : For computation of since inception returns (%) the allotment NAV has been taken as ₹ 10.00. The performance of other funds managed by the same fund manager is given in the respective page of the schemes and on 