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 May 31, 2023 | 319.27 |
| Net AUM (₹ Cr.) |
322.84 |
| Monthly Avg. Expense Ratio (Including Statutory Levies) as on May 31, 2023 |
Regular Plan: 0.98% Direct Plan: 0.27% |
| **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 | ₹ 11.499 | ₹ 11.263 |
| IDCW | ₹ 11.486 | ₹ 11.263 |
| Period | Total Amount Invested | Mkt Value as on 31-May-2023 |
SI |
3,50,000 | 3,75,000 |
1 Yr |
1,20,000 | 1,23,977 |
Returns (%) |
Period |
|
SI |
1yr |
|
Fund Return& (%) |
4.67 | 6.23 |
Benchmark Return& (%) |
5.01 | 6.64 |
Add. Benchmark Return& (%) |
4.79 | 6.80 |
& 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 | |
| State Bank of India | 1.91% |
| ICICI Bank Ltd | 1.65% |
| HDFC Bank Ltd | 1.62% |
| IndusInd Bank Ltd | 1.60% |
| Axis Bank Ltd | 1.56% |
| The Federal Bank Limited | 1.55% |
| Bank of Baroda | 0.27% |
| IT - Software | |
| Tata Consultancy Services Ltd | 3.17% |
| Infosys Ltd | 1.63% |
| Tech Mahindra Limited | 1.62% |
| HCL Technologies Limited | 1.59% |
| Coforge Limited | 0.57% |
| Cement & Cement Products | |
| Ambuja Cements Limited | 1.84% |
| Dalmia Bharat Limited | 1.81% |
| UltraTech Cement Limited | 1.58% |
| Grasim Industries Ltd | 0.91% |
| ACC Limited | 0.85% |
| Consumer Durables | |
| Titan Company Ltd | 1.64% |
| Voltas Ltd | 1.59% |
| Crompton Greaves Consumer Electricals Limited | 1.38% |
| Finance | |
| Cholamandalam Investment and Finance Company Ltd | 1.63% |
| Housing Development Finance Corporation Ltd | 1.55% |
| Piramal Enterprises Limited | 1.39% |
| Automobiles | |
| Tata Motors Limited | 1.84% |
| Eicher Motors Ltd | 1.59% |
| Diversified FMCG | |
| ITC Ltd | 1.74% |
| Hindustan Unilever Ltd | 1.64% |
| Insurance | |
| ICICI Lombard General Insurance Company Limited | 1.71% |
| SBI Life Insurance Company Limited | 1.66% |
| Ferrous Metals | |
| Tata Steel Ltd | 1.86% |
| JSW Steel Limited | 1.28% |
| Fertilizers & Agrochemicals | |
| UPL Limited | 1.49% |
| PI Industries Limited | 1.06% |
| Entertainment | |
| Zee Entertainment Enterprises Ltd | 1.69% |
| Sun TV Network Limited | 0.87% |
| Auto Components | |
| Balkrishna Industries Ltd | 1.46% |
| Exide Industries Limited | 1.01% |
| Pharmaceuticals & Biotechnology | |
| Sun Pharmaceutical Industries Ltd | 1.86% |
| Beverages | |
| United Spirits Limited | 1.80% |
| Capital Markets | |
| Multi Commodity Exchange of India Limited | 1.73% |
| Electrical Equipment | |
| Siemens Limited | 1.63% |
| Agricultural Food & other Products | |
| Marico Limited | 1.61% |
| Agricultural, Commercial & Construction Vehicles | |
| Ashok Leyland Limited | 1.59% |
| Realty | |
| DLF Limited | 1.58% |
| Construction | |
| Larsen & Toubro Ltd | 1.50% |
| Non - Ferrous Metals | |
| Hindalco Industries Limited | 1.37% |
| Food Products | |
| Britannia Industries Ltd | 1.36% |
| Petroleum Products | |
| Reliance Industries Ltd | 1.28% |
| Gas | |
| GAIL (India) Limited | 1.10% |
| Personal Products | |
| Dabur India Ltd | 0.90% |
| Power | |
| Power Grid Corporation of India Ltd | 0.70% |
| Equity Holding Total | 75.83% |
| Equity Futures | |
| Bank of Baroda June 2023 Future | -0.27% |
| Coforge Ltd June 2023 Future | -0.57% |
| Power Grid Corporation of India Ltd June 2023 Future | -0.71% |
| Zee Entertainment Enterprises Ltd July 2023 Future | -0.74% |
| ACC Ltd June 2023 Future | -0.86% |
| Sun TV Network Ltd June 2023 Future | -0.87% |
| Dabur India Ltd June 2023 Future | -0.91% |
| Grasim Industries Ltd June 2023 Future | -0.91% |
| Zee Entertainment Enterprises Ltd June 2023 Future | -0.97% |
| Exide Industries Ltd June 2023 Future | -1.02% |
| PI Industries Ltd June 2023 Future | -1.07% |
| GAIL (India) Ltd June 2023 Future | -1.11% |
| Reliance Industries Ltd June 2023 Future | -1.29% |
| JSW Steel Ltd June 2023 Future | -1.29% |
| Britannia Industries Ltd June 2023 Future | -1.36% |
| Hindalco Industries Ltd June 2023 Future | -1.38% |
| Crompton Greaves Consumer Electricals Ltd June 2023 Future | -1.39% |
| Piramal Enterprises Ltd June 2023 Future | -1.40% |
| Balkrishna Industries Ltd June 2023 Future | -1.47% |
| UPL Ltd June 2023 Future | -1.50% |
| Larsen & Toubro Ltd July 2023 Future | -1.51% |
| Tata Consultancy Services Ltd July 2023 Future | -1.54% |
| HDFC Ltd June 2023 Future | -1.56% |
| The Federal Bank Ltd June 2023 Future | -1.56% |
| Axis Bank Ltd June 2023 Future | -1.58% |
| DLF Ltd June 2023 Future | -1.58% |
| UltraTech Cement Ltd June 2023 Future | -1.59% |
| Voltas Ltd June 2023 Future | -1.59% |
| IndusInd Bank Ltd June 2023 Future | -1.59% |
| HCL Technologies Ltd June 2023 Future | -1.60% |
| Ashok Leyland Ltd June 2023 Future | -1.60% |
| Eicher Motors Ltd June 2023 Future | -1.60% |
| Infosys Ltd June 2023 Future | -1.62% |
| Marico Ltd June 2023 Future | -1.63% |
| Tech Mahindra Ltd June 2023 Future | -1.63% |
| HDFC Bank Ltd June 2023 Future | -1.63% |
| Cholamandalam Investment and Finance Company Ltd June 2023 Future | -1.63% |
| Hindustan Unilever Ltd June 2023 Future | -1.64% |
| Siemens Ltd June 2023 Future | -1.64% |
| Tata Consultancy Services Ltd June 2023 Future | -1.65% |
| Titan Company Ltd June 2023 Future | -1.65% |
| ICICI Bank Ltd June 2023 Future | -1.66% |
| SBI Life Insurance Company Ltd June 2023 Future | -1.67% |
| ICICI Lombard General Insurance Company Ltd June 2023 Future | -1.72% |
| Multi Commodity Exchange of India Ltd June 2023 Future | -1.74% |
| ITC Ltd June 2023 Future | -1.76% |
| United Spirits Ltd June 2023 Future | -1.80% |
| Dalmia Bharat Ltd June 2023 Future | -1.83% |
| Tata Motors Ltd June 2023 Future | -1.85% |
| Ambuja Cements Ltd July 2023 Future | -1.86% |
| Tata Steel Ltd June 2023 Future | -1.87% |
| Sun Pharmaceutical Industries Ltd June 2023 Future | -1.88% |
| State Bank of India June 2023 Future | -1.93% |
| Equity Futures Total | -76.27% |
| Treasury Bill | |
| 364 Days Tbill (15/06/2023) | 1.54% |
| 364 Days Tbill (22/06/2023) | 1.54% |
| 364 Days Tbill (17/08/2023) | 1.53% |
| 182 Days Tbill (07/09/2023) | 1.52% |
| 364 Days Tbill (14/09/2023) | 1.52% |
| 364 Days Tbill (28/09/2023) | 1.52% |
| 364 Days Tbill (12/10/2023) | 1.51% |
| Treasury Bill Total | 10.68% |
| Government Bond | |
| 6.18% GOI (04/11/2024) | 4.61% |
| Government Bond Total | 4.61% |
| Certificate of Deposit | |
| HDFC Bank Ltd (14/12/2023) # | 1.49% |
| Certificate of Deposit Total | 1.49% |
| Cash & Other Receivables Total | 83.66% |
| Total | 100.00% |
| Returns (in%) | ||||
| 1 Yr | SI | |||
| MAAF | 5.36% |
4.12% |
||
| Scheme Benchmark* | 5.54% |
4.26% |
||
| Additional Benchmark** | 6.26% |
4.25% |
||
| NAV as on 31st May, 2023 | ₹ 11.263 | |||
| Index Value (31st May, 2023) | Index Value of Scheme benchmark is 2,152.83 and CRISIL 1 Year T-Bill is 6,707.15 |
|||
| 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 |
0.59 Years |
Modified Duration |
0.56 Years |
Macaulay Duration |
0.57 Years |
Annualized Portfolio YTM* |
6.80% |
*In case of semi annual YTM, it will be annualized.
| Portfolio Turnover Ratio | 23.93 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 May, 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.