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) & Abhishek Iyer # (Debt portion) (w.e.f 16 January, 2023) |
| 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 March 31, 2023 | 326.71 |
| Net AUM (₹ Cr.) |
311.62 |
| Monthly Avg. Expense Ratio (Including Statutory Levies) as on March 31, 2023 |
Regular Plan: 1.09% Direct Plan: 0.33% |
| **For experience of Fund Managers Click Here | |
| # As per notice cum addendum no. 03/2023 fund manager of the scheme has changed. Please visit the website for more details: https://www.miraeassetmf.co.in/downloads/statutory-disclosure/addendum | |
| NAV: | Direct | Regular |
| Growth | ₹ 11.356 | ₹ 11.137 |
| IDCW | ₹ 11.344 | ₹ 11.136 |
| Period | Total Amount Invested | Mkt Value as on 31-March-2023 |
SI |
330,000 |
350,864 |
1 Yr |
120,000 |
123,575 |
Returns (%) |
Period |
|
SI |
1yr |
|
Fund Return& (%) |
4.40 |
5.60 |
Benchmark Return& (%) |
4.75 |
6.04 |
Add. Benchmark Return& (%) |
4.35 |
5.63 |
& The SIP returns are calculated by XIRR approach assuming investment of ₹ 10,000/- on the 1st working day of every month.
| Portfolio Holdings | % Allocation |
| Banks | |
| ICICI Bank Ltd | 4.99% |
| HDFC Bank Ltd | 1.68% |
| Axis Bank Ltd | 1.65% |
| IndusInd Bank Ltd | 1.65% |
| State Bank of India | 1.64% |
| RBL Bank Ltd | 0.95% |
| City Union Bank Ltd | 0.26% |
| Automobiles | |
| Eicher Motors Ltd | 1.66% |
| Mahindra & Mahindra Ltd | 1.64% |
| Maruti Suzuki India Ltd | 1.60% |
| Tata Motors Ltd | 1.52% |
| Cement & Cement Products | |
| Grasim Industries Ltd | 3.24% |
| Ambuja Cements Ltd | 1.65% |
| Dalmia Bharat Ltd | 1.33% |
| Entertainment | |
| Sun TV Network Ltd | 3.92% |
| Zee Entertainment Enterprises Ltd | 1.35% |
| Ferrous Metals | |
| Tata Steel Ltd | 1.90% |
| JSW Steel Ltd | 1.67% |
| Steel Authority of India Ltd | 1.57% |
| Jindal Steel & Power Ltd | 0.13% |
| IT - Software | |
| Tech Mahindra Ltd | 1.76% |
| Infosys Ltd | 1.72% |
| Tata Consultancy Services Ltd | 1.69% |
| Insurance | |
| SBI Life Insurance Company Ltd | 1.67% |
| HDFC Life Insurance Company Ltd | 1.62% |
| ICICI Lombard General Insurance Company Ltd | 1.36% |
| Pharmaceuticals & Biotechnology | |
| Sun Pharmaceutical Industries Ltd | 1.94% |
| Cipla Ltd | 1.88% |
| Biocon Ltd | 0.65% |
| Finance | |
| Housing Development Finance Corporation Ltd | 1.69% |
| Piramal Enterprises Ltd | 1.27% |
| Power Finance Corporation Ltd | 0.36% |
| Telecom - Services | |
| Tata Communications Ltd | 1.68% |
| Bharti Airtel Ltd | 1.37% |
| Construction | |
| Larsen & Toubro Ltd | 2.31% |
| Aerospace & Defense | |
| Hindustan Aeronautics Ltd | 2.00% |
| Petroleum Products | |
| Reliance Industries Ltd | 1.78% |
| Bharat Petroleum Corporation Ltd | 0.20% |
| Auto Components | |
| Exide Industries Ltd | 1.62% |
| Beverages | |
| United Spirits Ltd | 1.61% |
| Consumer Durables | |
| Titan Company Ltd | 1.60% |
| Non - Ferrous Metals | |
| Hindalco Industries Ltd | 1.60% |
| Power | |
| Tata Power Company Ltd | 1.52% |
| Chemicals & Petrochemicals | |
| Tata Chemicals Ltd | 1.51% |
| Fertilizers & Agrochemicals | |
| PI Industries Ltd | 0.90% |
| Capital Markets | |
| Multi Commodity Exchange of India Ltd | 0.14% |
| Equity Holding Total | 73.46% |
| Equity Futures | |
| Jindal Steel & Power Ltd April 2023 Future | -0.13% |
| Multi Commodity Exchange of India Ltd April 2023 Future | -0.14% |
| Bharat Petroleum Corporation Ltd April 2023 Future | -0.20% |
| City Union Bank Ltd April 2023 Future | -0.26% |
| Power Finance Corporation Ltd April 2023 Future | -0.36% |
| Biocon Ltd April 2023 Future | -0.66% |
| PI Industries Ltd April 2023 Future | -0.90% |
| RBL Bank Ltd April 2023 Future | -0.96% |
| Piramal Enterprises Ltd April 2023 Future | -1.27% |
| Dalmia Bharat Ltd April 2023 Future | -1.33% |
| Zee Entertainment Enterprises Ltd April 2023 Future | -1.36% |
| ICICI Lombard General Insurance Company Ltd April 2023 Future | -1.37% |
| Bharti Airtel Ltd April 2023 Future | -1.38% |
| Tata Chemicals Ltd April 2023 Future | -1.52% |
| Tata Motors Ltd April 2023 Future | -1.53% |
| Tata Power Company Ltd April 2023 Future | -1.53% |
| Steel Authority of India Ltd April 2023 Future | -1.59% |
| Hindalco Industries Ltd April 2023 Future | -1.60% |
| Maruti Suzuki India Ltd April 2023 Future | -1.61% |
| Titan Company Ltd April 2023 Future | -1.62% |
| United Spirits Ltd April 2023 Future | -1.62% |
| HDFC Life Insurance Company Ltd April 2023 Future | -1.63% |
| Exide Industries Ltd April 2023 Future | -1.64% |
| State Bank of India April 2023 Future | -1.65% |
| Mahindra & Mahindra Ltd April 2023 Future | -1.65% |
| Ambuja Cements Ltd April 2023 Future | -1.66% |
| IndusInd Bank Ltd April 2023 Future | -1.66% |
| Axis Bank Ltd April 2023 Future | -1.66% |
| Eicher Motors Ltd April 2023 Future | -1.66% |
| JSW Steel Ltd April 2023 Future | -1.68% |
| SBI Life Insurance Company Ltd April 2023 Future | -1.68% |
| HDFC Bank Ltd April 2023 Future | -1.69% |
| Tata Communications Ltd April 2023 Future | -1.69% |
| Tata Consultancy Services Ltd April 2023 Future | -1.70% |
| HDFC Ltd April 2023 Future | -1.70% |
| Infosys Ltd April 2023 Future | -1.73% |
| Tech Mahindra Ltd April 2023 Future | -1.77% |
| Reliance Industries Ltd April 2023 Future | -1.78% |
| Cipla Ltd April 2023 Future | -1.89% |
| Tata Steel Ltd April 2023 Future | -1.91% |
| Sun Pharmaceutical Industries Ltd April 2023 Future | -1.96% |
| Hindustan Aeronautics Ltd April 2023 Future | -2.01% |
| Larsen & Toubro Ltd April 2023 Future | -2.33% |
| Grasim Industries Ltd April 2023 Future | -3.26% |
| Sun TV Network Ltd April 2023 Future | -3.94% |
| ICICI Bank Ltd April 2023 Future | -5.02% |
| Equity Futures Total | -73.90% |
| Treasury Bill | |
| 364 Days Tbill (15/06/2023) | 1.58% |
| 364 Days Tbill (22/06/2023) | 1.58% |
| 364 Days Tbill (17/08/2023) | 1.56% |
| 182 Days Tbill (07/09/2023) | 1.56% |
| 364 Days Tbill (14/09/2023) | 1.55% |
| 364 Days Tbill (28/09/2023) | 1.55% |
| 364 Days Tbill (12/10/2023) | 1.55% |
| Treasury Bill Total | 10.93% |
| Government Bond | |
| 6.18% GOI (04/11/2024) | 4.74% |
| Government Bond Total | 4.74% |
| Certificate of Deposit | |
| Canara Bank (30/08/2023) ** # | 1.56% |
| Certificate of Deposit Total | 1.56% |
| Commercial Paper | |
| Export Import Bank of India (22/03/2024) ** | 1.49% |
| Commercial Paper Total | 1.49% |
| Cash & Other Receivables Total | 81.71% |
| Total | 100.00% |
| Returns (in%) | ||||
| 1 Yr | SI | |||
| MAAF | 4.85% |
3.95% |
||
| Scheme Benchmark* | 5.24% |
4.09% |
||
| Additional Benchmark** | 4.49% |
3.99% |
||
| NAV as on 31st March, 2023 | ₹ 11.137 | |||
| Index Value (31st March, 2023) | Index Value of Scheme benchmark is 2,128.06 and CRISIL 1 Year T-Bill is 6,616.11 |
|||
| 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. Abhishek Iyer (Debt Portion) (since January 16, 2023)
Note: Returns below or for 1 year are absolute returns, returns above 1 year are CAGR- Compounded Annualized Growth returns.
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
Average Maturity |
0.75 Years |
Modified Duration |
0.71 Years |
Macaulay Duration |
0.73 Years |
Annualized Portfolio YTM* |
7.17% |
*In case of semi annual YTM, it will be annualized.
| Portfolio Turnover Ratio | 22.93 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 31st March, 2023. ^Basis last rolling 12 months. |
|
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.