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 July 31, 2023 | 331.99 |
| Net AUM (₹ Cr.) |
336.79 |
| Monthly Total Expense Ratio (Including Statutory Levies) as on July 31, 2023 |
Regular Plan: 0.97% Direct Plan: 0.26% |
| **For experience of Fund Managers Click Here | |
| NAV: | Direct | Regular |
| Growth | ₹ 11.643 | ₹ 11.392 |
| IDCW | ₹ 11.629 | ₹ 11.391 |
Average Maturity |
0.39 Years |
Modified Duration |
0.37 Years |
Macaulay Duration |
0.38 Years |
Annualized Portfolio YTM* |
6.73% |
*In case of semi annual YTM, it will be annualized.
| Portfolio Holdings | % Allocation |
| Banks | |
| State Bank of India | 1.80% |
| The Federal Bank Limited | 1.59% |
| ICICI Bank Limited | 1.58% |
| IndusInd Bank Limited | 1.52% |
| Bandhan Bank Limited | 1.49% |
| RBL Bank Limited | 1.49% |
| Axis Bank Limited | 1.49% |
| HDFC Bank Limited | 1.48% |
| Kotak Mahindra Bank Limited | 1.48% |
| City Union Bank Limited | 0.12% |
| IT - Software | |
| Infosys Limited | 1.88% |
| LTIMindtree Limited | 1.72% |
| Tech Mahindra Limited | 1.55% |
| Tata Consultancy Services Limited | 1.42% |
| HCL Technologies Limited | 0.07% |
| Cement & Cement Products | |
| Ambuja Cements Limited | 1.93% |
| UltraTech Cement Limited | 1.61% |
| ACC Limited | 1.56% |
| Pharmaceuticals & Biotechnology | |
| Sun Pharmaceutical Industries Limited | 2.09% |
| Zydus Lifesciences Limited | 1.69% |
| Aurobindo Pharma Limited | 1.26% |
| Automobiles | |
| Maruti Suzuki India Limited | 1.98% |
| Mahindra & Mahindra Limited | 1.38% |
| TVS Motor Company Limited | 0.77% |
| Eicher Motors Limited | 0.19% |
| Telecom - Services | |
| Tata Communications Limited | 1.71% |
| Bharti Airtel Limited | 1.68% |
| Ferrous Metals | |
| Tata Steel Limited | 2.07% |
| Steel Authority of India Limited | 1.26% |
| Realty | |
| DLF Limited | 3.15% |
| Insurance | |
| HDFC Life Insurance Company Limited | 1.50% |
| SBI Life Insurance Company Limited | 1.48% |
| Petroleum Products | |
| Reliance Industries Limited | 1.55% |
| Hindustan Petroleum Corporation Limited | 1.43% |
| Diversified FMCG | |
| Hindustan Unilever Limited | 2.71% |
| Entertainment | |
| Zee Entertainment Enterprises Limited | 1.99% |
| Industrial Products | |
| Bharat Forge Limited | 1.66% |
| Cummins India Limited | 0.28% |
| Fertilizers & Agrochemicals | |
| PI Industries Limited | 1.10% |
| UPL Limited | 0.72% |
| Aerospace & Defense | |
| Hindustan Aeronautics Limited | 1.69% |
| Electrical Equipment | |
| ABB India Limited | 1.69% |
| Consumer Durables | |
| Voltas Limited | 1.45% |
| Dixon Technologies (India) Limited | 0.22% |
| Finance | |
| Indiabulls Housing Finance Limited | 1.65% |
| Transport Infrastructure | |
| Adani Ports and Special Economic Zone Limited | 1.61% |
| Capital Markets | |
| HDFC Asset Management Company Limited | 1.56% |
| Metals & Minerals Trading | |
| Adani Enterprises Limited | 1.55% |
| Agricultural Food & other Products | |
| Tata Consumer Products Limited | 1.54% |
| Retailing | |
| Trent Limited | 0.83% |
| Indiamart Intermesh Limited | 0.50% |
| Consumable Fuels | |
| Coal India Limited | 1.26% |
| Beverages | |
| United Spirits Limited | 0.82% |
| Textiles & Apparels | |
| Page Industries Limited | 0.39% |
| Gas | |
| Petronet LNG Limited | 0.25% |
| Equity Holding Total | 76.45% |
| Equity Futures | |
| HCL Technologies Ltd August 2023 Future | -0.07% |
| City Union Bank Ltd August 2023 Future | -0.12% |
| Eicher Motors Ltd August 2023 Future | -0.19% |
| Dixon Technologies (India) Ltd August 2023 Future | -0.22% |
| Petronet LNG Ltd September 2023 Future | -0.25% |
| Cummins India Ltd August 2023 Future | -0.28% |
| Page Industries Ltd August 2023 Future | -0.39% |
| Indiamart Intermesh Ltd August 2023 Future | -0.50% |
| UPL Ltd August 2023 Future | -0.72% |
| TVS Motor Company Ltd August 2023 Future | -0.78% |
| United Spirits Ltd August 2023 Future | -0.83% |
| Trent Ltd August 2023 Future | -0.84% |
| PI Industries Ltd August 2023 Future | -1.11% |
| Coal India Ltd August 2023 Future | -1.24% |
| Steel Authority of India Ltd August 2023 Future | -1.27% |
| Aurobindo Pharma Ltd August 2023 Future | -1.27% |
| Mahindra & Mahindra Ltd August 2023 Future | -1.39% |
| Tata Consultancy Services Ltd August 2023 Future | -1.43% |
| Hindustan Petroleum Corporation Ltd August 2023 Future | -1.44% |
| Voltas Ltd August 2023 Future | -1.46% |
| Kotak Mahindra Bank Ltd August 2023 Future | -1.49% |
| SBI Life Insurance Company Ltd August 2023 Future | -1.49% |
| RBL Bank Ltd August 2023 Future | -1.49% |
| Axis Bank Ltd August 2023 Future | -1.50% |
| Bandhan Bank Ltd August 2023 Future | -1.50% |
| HDFC Bank Ltd August 2023 Future | -1.50% |
| HDFC Life Insurance Company Ltd August 2023 Future | -1.51% |
| IndusInd Bank Ltd August 2023 Future | -1.53% |
| Tata Consumer Products Ltd August 2023 Future | -1.55% |
| Reliance Industries Ltd August 2023 Future | -1.56% |
| HDFC Asset Management Company Ltd August 2023 Future | -1.56% |
| Tech Mahindra Ltd August 2023 Future | -1.56% |
| Adani Enterprises Ltd August 2023 Future | -1.57% |
| ICICI Bank Ltd August 2023 Future | -1.57% |
| ACC Ltd August 2023 Future | -1.58% |
| The Federal Bank Ltd August 2023 Future | -1.59% |
| UltraTech Cement Ltd August 2023 Future | -1.62% |
| Adani Ports and Special Economic Zone Ltd August 2023 Future | -1.62% |
| Indiabulls Housing Finance Ltd August 2023 Future | -1.65% |
| Bharat Forge Ltd August 2023 Future | -1.68% |
| Bharti Airtel Ltd August 2023 Future | -1.69% |
| Zydus Lifesciences Ltd August 2023 Future | -1.70% |
| ABB India Ltd August 2023 Future | -1.70% |
| Hindustan Aeronautics Ltd August 2023 Future | -1.71% |
| Tata Communications Ltd August 2023 Future | -1.72% |
| LTIMindtree Ltd August 2023 Future | -1.74% |
| State Bank of India August 2023 Future | -1.81% |
| Infosys Ltd August 2023 Future | -1.90% |
| Ambuja Cements Ltd August 2023 Future | -1.95% |
| Maruti Suzuki India Ltd August 2023 Future | -1.98% |
| Zee Entertainment Enterprises Ltd August 2023 Future | -2.01% |
| Tata Steel Ltd August 2023 Future | -2.09% |
| Sun Pharmaceutical Industries Ltd August 2023 Future | -2.10% |
| Hindustan Unilever Ltd August 2023 Future | -2.74% |
| DLF Ltd August 2023 Future | -3.17% |
| Equity Futures Total | -76.94% |
| Treasury Bill | |
| 364 Days Tbill (17/08/2023) | 1.48% |
| 182 Days Tbill (07/09/2023) | 1.47% |
| 364 Days Tbill (14/09/2023) | 1.47% |
| 364 Days Tbill (28/09/2023) | 1.47% |
| 364 Days Tbill (12/10/2023) | 1.47% |
| 182 Days Tbill (21/12/2023) | 1.45% |
| 364 Days Tbill (28/12/2023) | 1.44% |
| Treasury Bill Total | 10.25% |
| Government Bond | |
| 6.18% GOI (04/11/2024) | 4.41% |
| Government Bond Total | 4.41% |
| Certificate of Deposit | |
| HDFC Bank Ltd (14/12/2023) # | 1.45% |
| Certificate of Deposit Total | 1.45% |
| Cash & Other Receivables Total | 84.37% |
| Total | 100.00% |
| Returns (in%) | ||||
| 1 Yr | 3 Yrs | SI | ||
| MAAF | 6.26% | 4.36% | 4.27% | |
| Scheme Benchmark* | 6.77% | 4.76% | 4.50% | |
| Additional Benchmark** | 6.41% | 4.40% | 4.38% | |
| NAV as on 31st July, 2023 | ₹ 11.392 | |||
| Index Value (31st July, 2023) | Index Value of Scheme benchmark is 2,183.05 and CRISIL 1 Year T-Bill is 6,780.48 |
|||
| 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 31-July-2023 |
SI |
3,70,000 | 3,99,451 |
3 Yrs |
3,60,000 | 3,88,071 |
1 Yr |
1,20,000 | 1,24,251 |
Returns (%) |
Period |
||
SI |
3yrs |
1yr |
|
Fund Return& (%) |
4.91 | 4.95 | 6.67 |
Benchmark Return& (%) |
5.38 | 5.43 | 7.52 |
Add. Benchmark Return& (%) |
4.98 | 5.02 | 6.90 |
& The SIP returns are calculated by XIRR approach assuming investment of ₹ 10,000/- on the 1st working day of every month.
| Portfolio Turnover Ratio | 24.56 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 July, 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.