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 | 19th 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 September 30, 2022 | 377.67 |
| Net AUM (₹ Cr.) |
374.04 |
| Monthly Avg. Expense Ratio (Including Statutory Levies) as on September 30, 2022 |
Regular Plan: 1.09% Direct Plan: 0.37% |
| **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 | ₹ 10.987 | ₹ 10.815 |
| IDCW^ | ₹ 10.980 | ₹ 10.814 |
| Portfolio Turnover Ratio | 13.66 times |
@The Volatility, Beta, R Squared, Sharpe Ratio & Information Ratio are calculated on returns from last three years Monthly data points. # Risk free rate: FBIL OVERNIGHT MIBOR as on 30th September, 2022. ^Basis last rolling 12 months. |
|
Weighted Average Maturity |
0.67 Years |
Modified Duration |
0.62 Years |
Macaulay Duration |
0.65 Years |
Yield to Maturity |
6.31% |
| Portfolio Holdings | % Allocation |
| Banks | |
| Axis Bank Ltd | 2.12% |
| State Bank of India | 1.89% |
| HDFC Bank Ltd | 1.61% |
| ICICI Bank Ltd | 1.11% |
| IndusInd Bank Ltd | 0.57% |
| Kotak Mahindra Bank Ltd | 0.39% |
| AU Small Finance Bank Limited | 0.35% |
| Entertainment | |
| Sun TV Network Limited | 4.00% |
| Zee Entertainment Enterprises Ltd | 1.53% |
| IT - Software | |
| Infosys Ltd | 3.40% |
| Tata Consultancy Services Ltd | 0.80% |
| Birlasoft Limited | 0.68% |
| HCL Technologies Limited | 0.56% |
| Finance | |
| Power Finance Corporation Ltd | 1.30% |
| SBI Cards and Payment Services Limited | 1.19% |
| Can Fin Homes Limited | 1.10% |
| Housing Development Finance Corporation Ltd | 0.90% |
| Piramal Enterprises Limited | 0.84% |
| Automobiles | |
| TVS Motor Company Ltd | 1.78% |
| Maruti Suzuki India Ltd | 1.60% |
| Hero MotoCorp Limited | 0.49% |
| Insurance | |
| HDFC Life Insurance Company Ltd | 2.14% |
| SBI Life Insurance Company Limited | 1.18% |
| ICICI Lombard General Insurance Company Limited | 0.30% |
| Aditya Birla Capital Limited | 0.19% |
| ICICI Prudential Life Insurance Company Limited | 0.04% |
| Transport Infrastructure | |
| Adani Ports and Special Economic Zone Limited | 3.24% |
| Cement & Cement Products | |
| Dalmia Bharat Limited | 1.60% |
| Ambuja Cements Limited | 1.32% |
| The India Cements Limited | 0.02% |
| Beverages | |
| United Spirits Limited | 2.93% |
| Ferrous Metals | |
| Steel Authority of India Limited | 1.71% |
| Tata Steel Ltd | 1.21% |
| Pharmaceuticals & Biotechnology | |
| Sun Pharmaceutical Industries Ltd | 2.72% |
| Biocon Ltd | 0.18% |
| Aerospace & Defense | |
| Hindustan Aeronautics Limited | 1.43% |
| Bharat Electronics Ltd | 1.35% |
| Non - Ferrous Metals | |
| Hindalco Industries Limited | 1.45% |
| National Aluminium Company Limited | 0.84% |
| Hindustan Copper Limited | 0.07% |
| Chemicals & Petrochemicals | |
| Tata Chemicals Ltd | 1.33% |
| SRF Limited | 0.95% |
| Gujarat Narmada Valley Fertilizers and Chemicals Limited | 0.07% |
| Fertilizers & Agrochemicals | |
| UPL Limited | 1.38% |
| PI Industries Limited | 0.84% |
| Construction | |
| Larsen & Toubro Ltd | 2.10% |
| Capital Markets | |
| Indian Energy Exchange Ltd | 0.95% |
| Multi Commodity Exchange of India Limited | 0.93% |
| Telecom - Services | |
| Tata Communications Limited | 1.88% |
| Electrical Equipment | |
| Siemens Limited | 1.87% |
| Gas | |
| Indraprastha Gas Limited | 1.69% |
| Power | |
| Tata Power Company Limited | 1.60% |
| Consumer Durables | |
| Asian Paints Ltd | 0.98% |
| Whirlpool of India Limited | 0.41% |
| Diversified FMCG | |
| ITC Ltd | 1.31% |
| Petroleum Products | |
| Reliance Industries Ltd | 1.27% |
| Realty | |
| Godrej Properties Limited | 0.79% |
| Agricultural, Commercial & Construction Vehicles | |
| Ashok Leyland Limited | 0.43% |
| Personal Products | |
| Dabur India Ltd | 0.34% |
| Leisure Services | |
| The Indian Hotels Company Limited | 0.07% |
| Agricultural Food & other Products | |
| Tata Consumer Products Limited | 0.04% |
| Consumable Fuels | |
| Coal India Ltd | 0.02% |
| Equity Holding Total | 73.39% |
| Equity Futures | |
| The India Cements Ltd October 2022 Future | -0.02% |
| Coal India Ltd October 2022 Future | -0.02% |
| Tata Consumer Products Ltd October 2022 Future | -0.04% |
| ICICI Prudential Life Insurance Company Ltd October 2022 Future | -0.04% |
| Gujarat Narmada Valley Fertilizers and Chemicals Ltd October 2022 Future | -0.07% |
| The Indian Hotels Company Ltd October 2022 Future | -0.07% |
| Hindustan Copper Ltd October 2022 Future | -0.07% |
| Biocon Ltd October 2022 Future | -0.18% |
| Aditya Birla Capital Ltd October 2022 Future | -0.19% |
| ICICI Lombard General Insurance Company Ltd October 2022 Future | -0.30% |
| Dabur India Ltd October 2022 Future | -0.35% |
| AU Small Finance Bank Ltd October 2022 Future | -0.35% |
| Kotak Mahindra Bank Ltd October 2022 Future | -0.39% |
| Whirlpool of India Ltd October 2022 Future | -0.42% |
| Ashok Leyland Ltd October 2022 Future | -0.43% |
| Hero MotoCorp Ltd October 2022 Future | -0.49% |
| HCL Technologies Ltd October 2022 Future | -0.55% |
| IndusInd Bank Ltd October 2022 Future | -0.57% |
| Birlasoft Ltd October 2022 Future | -0.68% |
| Godrej Properties Ltd October 2022 Future | -0.79% |
| Tata Consultancy Services Ltd October 2022 Future | -0.80% |
| Piramal Enterprises Ltd October 2022 Future | -0.84% |
| National Aluminium Company Ltd October 2022 Future | -0.85% |
| PI Industries Ltd October 2022 Future | -0.85% |
| Housing Development Finance Corporation Ltd October 2022 Future | -0.90% |
| Multi Commodity Exchange of India Ltd October 2022 Future | -0.93% |
| SRF Ltd October 2022 Future | -0.96% |
| Indian Energy Exchange Ltd October 2022 Future | -0.96% |
| Asian Paints Ltd October 2022 Future | -0.99% |
| Can Fin Homes Ltd October 2022 Future | -1.11% |
| ICICI Bank Ltd October 2022 Future | -1.11% |
| SBI Life Insurance Company Ltd October 2022 Future | -1.18% |
| SBI Cards and Payment Services Ltd October 2022 Future | -1.20% |
| Tata Steel Ltd October 2022 Future | -1.21% |
| Reliance Industries Ltd October 2022 Future | -1.28% |
| Power Finance Corporation Ltd October 2022 Future | -1.31% |
| ITC Ltd October 2022 Future | -1.31% |
| Ambuja Cements Ltd October 2022 Future | -1.32% |
| Tata Chemicals Ltd October 2022 Future | -1.33% |
| Bharat Electronics Ltd October 2022 Future | -1.36% |
| UPL Ltd October 2022 Future | -1.38% |
| Hindustan Aeronautics Ltd October 2022 Future | -1.44% |
| Hindalco Industries Ltd October 2022 Future | -1.45% |
| Zee Entertainment Enterprises Ltd October 2022 Future | -1.54% |
| Maruti Suzuki India Ltd October 2022 Future | -1.61% |
| Dalmia Bharat Ltd October 2022 Future | -1.61% |
| Tata Power Company Ltd October 2022 Future | -1.61% |
| HDFC Bank Ltd October 2022 Future | -1.61% |
| Indraprastha Gas Ltd October 2022 Future | -1.70% |
| Steel Authority of India Ltd October 2022 Future | -1.72% |
| TVS Motor Company Ltd October 2022 Future | -1.78% |
| Siemens Ltd October 2022 Future | -1.88% |
| Tata Communications Ltd October 2022 Future | -1.89% |
| State Bank of India October 2022 Future | -1.90% |
| Larsen & Toubro Ltd October 2022 Future | -2.11% |
| Axis Bank Ltd October 2022 Future | -2.12% |
| HDFC Life Insurance Company Ltd October 2022 Future | -2.14% |
| Sun Pharmaceutical Industries Ltd October 2022 Future | -2.72% |
| United Spirits Ltd October 2022 Future | -2.94% |
| Adani Ports and Special Economic Zone Ltd October 2022 Future | -3.26% |
| Infosys Ltd October 2022 Future | -3.37% |
| Sun TV Network Ltd October 2022 Future | -4.02% |
| Equity Futures Total | -73.66% |
| Government Bond | |
| 6.84% GOI (19/12/2022) | 8.03% |
| 3.96% GOI (09/11/2022) | 4.00% |
| 6.18% GOI (04/11/2024) | 3.94% |
| Government Bond Total | 15.97% |
| Treasury Bill | |
| 364 Days Tbill (17/08/2023) | 1.26% |
| Treasury Bill Total | 1.26% |
| Cash & Other Receivables Total | 83.04% |
| Total | 100.00% |
| Returns (in%) | ||||
| 1 Yr | SI | |||
| MAAF | 3.49% |
3.49% |
||
| Scheme Benchmark* | 3.75% |
3.55% |
||
| Additional Benchmark** | 3.18% |
3.49% |
||
| NAV as on 30th September, 2022 | ₹ 10.815 | |||
| Index Value (30th September, 2022) | Index Value of Scheme benchmark is 2,061.46 and CRISIL 1 Year T-Bill is 6,416.76 | |||
| Allotment Date | 19th June, 2020 | |||
| Scheme Benchmark | *Nifty 50 Arbitrage Index | |||
| Additional Benchmark | **CRISIL 1 Year T-Bill | |||
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)
Note: Returns below or for 1 year are absolute returns, returns above 1 year are CAGR- Compounded Annualized Growth returns.
| Period | Total Amount Invested | Mkt Value as on 30-September-2022 |
SI |
270,000 |
281,384 |
1 Yr |
120,000 |
122,330 |
Returns (%) |
Period |
|
SI |
1yr |
|
Fund Return& (%) |
3.59 |
3.63 |
Benchmark Return& (%) |
3.86 |
3.80 |
Add. Benchmark Return& (%) |
3.41 |
3.37 |
& 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
*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 
Different Plans under the scheme has different expense structure. The reference and details provided here in are of Regular Plan - Growth Option