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 June 30, 2023 | 321.16 |
| Net AUM (₹ Cr.) |
325.29 |
| Monthly Avg. Expense Ratio (Including Statutory Levies) as on June 30, 2023 |
Regular Plan: 0.97% Direct Plan: 0.26% |
| **For experience of Fund Managers Click Here | |
| NAV: | Direct | Regular |
| Growth | ₹ 11.579 | ₹ 11.335 |
| IDCW | ₹ 11.565 | ₹ 11.335 |
Average Maturity |
0.41 Years |
Modified Duration |
0.39 Years |
Macaulay Duration |
0.40 Years |
Annualized Portfolio YTM* |
6.86% |
*In case of semi annual YTM, it will be annualized.
| Portfolio Holdings | % Allocation |
| Banks | |
| ICICI Bank Ltd | 3.14% |
| Kotak Mahindra Bank Ltd | 1.93% |
| State Bank of India | 1.88% |
| HDFC Bank Ltd | 1.70% |
| The Federal Bank Limited | 1.65% |
| IndusInd Bank Ltd | 1.52% |
| Canara Bank | 0.48% |
| Automobiles | |
| Maruti Suzuki India Ltd | 2.05% |
| Eicher Motors Ltd | 1.98% |
| Tata Motors Limited | 1.64% |
| TVS Motor Company Ltd | 1.03% |
| IT - Software | |
| Tech Mahindra Limited | 1.69% |
| Infosys Ltd | 1.64% |
| HCL Technologies Limited | 1.61% |
| Tata Consultancy Services Ltd | 1.53% |
| Pharmaceuticals & Biotechnology | |
| Sun Pharmaceutical Industries Ltd | 1.99% |
| Alkem Laboratories Limited | 1.90% |
| Cipla Limited | 1.56% |
| Ferrous Metals | |
| Tata Steel Ltd | 1.95% |
| JSW Steel Limited | 1.43% |
| Steel Authority of India Limited | 1.18% |
| Finance | |
| Cholamandalam Investment and Finance Company Ltd | 1.62% |
| Indiabulls Housing Finance Limited | 1.49% |
| Piramal Enterprises Limited | 1.43% |
| Cement & Cement Products | |
| Ambuja Cements Limited | 1.84% |
| Dalmia Bharat Limited | 1.80% |
| Aerospace & Defense | |
| Hindustan Aeronautics Limited | 3.25% |
| Industrial Products | |
| Bharat Forge Limited | 1.57% |
| Astral Limited | 1.57% |
| Polycab India Limited | 0.07% |
| Transport Infrastructure | |
| Adani Ports and Special Economic Zone Limited | 3.15% |
| Insurance | |
| SBI Life Insurance Company Limited | 1.99% |
| Petroleum Products | |
| Reliance Industries Ltd | 1.96% |
| Diversified FMCG | |
| ITC Ltd | 1.75% |
| Entertainment | |
| Zee Entertainment Enterprises Ltd | 0.90% |
| Sun TV Network Limited | 0.85% |
| Consumer Durables | |
| Titan Company Ltd | 1.72% |
| Food Products | |
| Britannia Industries Ltd | 1.64% |
| Consumable Fuels | |
| Coal India Ltd | 1.61% |
| Fertilizers & Agrochemicals | |
| PI Industries Limited | 1.60% |
| Beverages | |
| United Spirits Limited | 1.47% |
| Electrical Equipment | |
| ABB India Limited | 1.46% |
| Chemicals & Petrochemicals | |
| Navin Fluorine International Limited | 1.41% |
| Retailing | |
| Trent Limited | 1.08% |
| Non - Ferrous Metals | |
| Hindalco Industries Limited | 0.89% |
| Realty | |
| DLF Limited | 0.37% |
| Minerals & Mining | |
| NMDC Limited | 0.13% |
| Healthcare Services | |
| Dr. Lal Path Labs Limited | 0.10% |
| Equity Holding Total | 74.20% |
| Equity Futures | |
| Polycab India Ltd July 2023 Future | -0.07% |
| Dr. Lal Path Labs Ltd July 2023 Future | -0.10% |
| NMDC Ltd July 2023 Future | -0.13% |
| Ambuja Cements Ltd August 2023 Future | -0.36% |
| DLF Ltd July 2023 Future | -0.38% |
| Eicher Motors Ltd August 2023 Future | -0.39% |
| Canara Bank July 2023 Future | -0.48% |
| Sun TV Network Ltd July 2023 Future | -0.86% |
| Hindalco Industries Ltd July 2023 Future | -0.89% |
| Zee Entertainment Enterprises Ltd July 2023 Future | -0.91% |
| TVS Motor Company Ltd July 2023 Future | -1.03% |
| Trent Ltd July 2023 Future | -1.09% |
| Steel Authority of India Ltd July 2023 Future | -1.18% |
| Navin Fluorine International Ltd July 2023 Future | -1.41% |
| JSW Steel Ltd July 2023 Future | -1.43% |
| Piramal Enterprises Ltd July 2023 Future | -1.44% |
| ABB India Ltd July 2023 Future | -1.47% |
| United Spirits Ltd July 2023 Future | -1.48% |
| Ambuja Cements Ltd July 2023 Future | -1.49% |
| Indiabulls Housing Finance Ltd July 2023 Future | -1.50% |
| IndusInd Bank Ltd July 2023 Future | -1.53% |
| Tata Consultancy Services Ltd July 2023 Future | -1.53% |
| ICICI Bank Ltd August 2023 Future | -1.54% |
| Cipla Ltd July 2023 Future | -1.56% |
| Bharat Forge Ltd July 2023 Future | -1.57% |
| Astral Ltd July 2023 Future | -1.58% |
| Hindustan Aeronautics Ltd July 2023 Future | -1.58% |
| PI Industries Ltd July 2023 Future | -1.60% |
| HCL Technologies Ltd July 2023 Future | -1.61% |
| Eicher Motors Ltd July 2023 Future | -1.61% |
| Coal India Ltd July 2023 Future | -1.62% |
| ICICI Bank Ltd July 2023 Future | -1.62% |
| Cholamandalam Investment and Finance Company Ltd July 2023 Future | -1.63% |
| Britannia Industries Ltd July 2023 Future | -1.65% |
| Tata Motors Ltd July 2023 Future | -1.65% |
| Infosys Ltd July 2023 Future | -1.65% |
| The Federal Bank Ltd July 2023 Future | -1.65% |
| Hindustan Aeronautics Ltd August 2023 Future | -1.70% |
| Tech Mahindra Ltd July 2023 Future | -1.70% |
| HDFC Bank Ltd July 2023 Future | -1.70% |
| Titan Company Ltd July 2023 Future | -1.72% |
| ITC Ltd July 2023 Future | -1.76% |
| Dalmia Bharat Ltd July 2023 Future | -1.81% |
| State Bank of India July 2023 Future | -1.89% |
| Alkem Laboratories Ltd July 2023 Future | -1.91% |
| Kotak Mahindra Bank Ltd July 2023 Future | -1.94% |
| Tata Steel Ltd July 2023 Future | -1.96% |
| Reliance Industries Ltd July 2023 Future | -1.97% |
| Sun Pharmaceutical Industries Ltd July 2023 Future | -2.00% |
| SBI Life Insurance Company Ltd July 2023 Future | -2.00% |
| Maruti Suzuki India Ltd July 2023 Future | -2.06% |
| Adani Ports and Special Economic Zone Ltd July 2023 Future | -3.16% |
| Equity Futures Total | -74.56% |
| Treasury Bill | |
| 364 Days Tbill (17/08/2023) | 1.52% |
| 182 Days Tbill (07/09/2023) | 1.52% |
| 364 Days Tbill (14/09/2023) | 1.52% |
| 364 Days Tbill (28/09/2023) | 1.51% |
| 364 Days Tbill (12/10/2023) | 1.51% |
| 182 Days Tbill (21/12/2023) | 1.49% |
| 364 Days Tbill (28/12/2023) | 1.49% |
| Treasury Bill Total | 10.56% |
| Government Bond | |
| 6.18% GOI (04/11/2024) | 4.56% |
| Government Bond Total | 4.56% |
| Certificate of Deposit | |
| HDFC Bank Ltd (14/12/2023) ** # | 1.49% |
| Certificate of Deposit Total | 1.49% |
| Cash & Other Receivables Total | 83.75% |
| Total | 100.00% |
| Returns (in%) | ||||
| 1 Yr | 3 Yrs | SI | ||
| MAAF | 5.79% | 4.18% | 4.22% | |
| Scheme Benchmark* | 6.10% | 4.40% | 4.39% | |
| Additional Benchmark** | 6.45% | 4.33% | 4.33% | |
| NAV as on 30th June, 2023 | ₹ 11.335 | |||
| Index Value (30th June, 2023) | Index Value of Scheme benchmark is 2,168.22 and CRISIL 1 Year T-Bill is 6,745.97 |
|||
| 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
| Period | Total Amount Invested | Mkt Value as on 30-June-2023 |
SI |
3,60,000 | 3,87,452 |
3 Yrs |
3,60,000 | 3,87,452 |
1 Yr |
1,20,000 | 1,24,218 |
Returns (%) |
Period |
||
SI |
3yrs |
1yr |
|
Fund Return& (%) |
4.84 | 4.84 | 6.63 |
Benchmark Return& (%) |
5.22 | 5.22 | 7.18 |
Add. Benchmark Return& (%) |
4.92 | 4.92 | 6.93 |
& The SIP returns are calculated by XIRR approach assuming investment of ₹ 10,000/- on the 1st working day of every month.
| Portfolio Turnover Ratio | 24.42 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 June, 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.