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. Abhishek Iyer (Debt portion) (since January 16, 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 15 days from the date of allotment Nil after 15 days |
| Plans Available | Regular Plan and Direct Plan |
| Options Available | Growth Option and IDCW Option (Payout & Re-investment) |
| Monthly Average AUM (₹ Cr.) as on November 30, 2023 | 587.59 |
| Net AUM (₹ Cr.) |
676.35 |
| Monthly Total Expense Ratio (Including Statutory Levies) as on November 30, 2023 |
Regular Plan: 0.91% Direct Plan: 0.20% |
| **For experience of Fund Managers Click Here #As per notice cum addendum no. 56/2023 Change in exit load of Mirae Asset Arbitrage Fund. Please visit the website for more details https://www.miraeassetmf.co.in/downloads/statutory-disclosure/addendum |
|
| NAV: | Direct | Regular |
| Growth | ₹ 11.950 | ₹ 11.664 |
| IDCW | ₹ 11.934 | ₹ 11.934 |
Average Maturity |
0.18 Years |
Modified Duration |
0.18 Years |
Macaulay Duration |
0.18 Years |
Annualized Portfolio YTM* |
6.91% |
*In case of semi annual YTM, it will be annualized.
| Portfolio Holdings | % Allocation |
| Finance | |
| Manappuram Finance Limited | 1.85% |
| IDFC Limited | 1.79% |
| Indiabulls Housing Finance Limited | 1.63% |
| Aditya Birla Capital Limited | 1.57% |
| LIC Housing Finance Limited | 1.51% |
| Bajaj Finserv Limited | 0.87% |
| Piramal Enterprises Limited | 0.64% |
| Bajaj Finance Limited | 0.22% |
| Shriram Finance Limited | 0.09% |
| Cholamandalam Investment and Finance Company Limited | 0.09% |
| Banks | |
| State Bank of India | 1.89% |
| IndusInd Bank Limited | 1.13% |
| ICICI Bank Limited | 0.86% |
| Kotak Mahindra Bank Limited | 0.83% |
| RBL Bank Limited | 0.75% |
| Canara Bank | 0.69% |
| Bandhan Bank Limited | 0.66% |
| Bank of Baroda | 0.38% |
| The Federal Bank Limited | 0.04% |
| HDFC Bank Limited | 0.01% |
| IT - Software | |
| Coforge Limited | 1.15% |
| Tata Consultancy Services Limited | 0.98% |
| Infosys Limited | 0.83% |
| HCL Technologies Limited | 0.76% |
| Tech Mahindra Limited | 0.76% |
| MphasiS Limited | 0.52% |
| Automobiles | |
| Tata Motors Limited | 0.89% |
| Bajaj Auto Limited | 0.79% |
| Hero MotoCorp Limited | 0.78% |
| Maruti Suzuki India Limited | 0.76% |
| Eicher Motors Limited | 0.75% |
| Mahindra & Mahindra Limited | 0.02% |
| Ferrous Metals | |
| Steel Authority of India Limited | 1.15% |
| Tata Steel Limited | 0.81% |
| Jindal Steel & Power Limited | 0.78% |
| JSW Steel Limited | 0.77% |
| Pharmaceuticals & Biotechnology | |
| Aurobindo Pharma Limited | 1.64% |
| Zydus Lifesciences Limited | 0.81% |
| Dr. Reddy's Laboratories Limited | 0.72% |
| Biocon Limited | 0.18% |
| Divi's Laboratories Limited | 0.11% |
| Diversified FMCG | |
| ITC Limited | 2.31% |
| Hindustan Unilever Limited | 0.80% |
| Cement & Cement Products | |
| Ambuja Cements Limited | 0.91% |
| Dalmia Bharat Limited | 0.82% |
| UltraTech Cement Limited | 0.68% |
| ACC Limited | 0.61% |
| Entertainment | |
| Zee Entertainment Enterprises Limited | 1.08% |
| Sun TV Network Limited | 0.97% |
| PVR INOX Limited | 0.89% |
| Insurance | |
| ICICI Prudential Life Insurance Company Limited | 1.00% |
| SBI Life Insurance Company Limited | 0.83% |
| ICICI Lombard General Insurance Company Limited | 0.60% |
| Max Financial Services Limited | 0.24% |
| Retailing | |
| Trent Limited | 1.02% |
| Indiamart Intermesh Limited | 0.83% |
| Info Edge (India) Limited | 0.75% |
| Chemicals & Petrochemicals | |
| Navin Fluorine International Limited | 1.01% |
| SRF Limited | 0.88% |
| Pidilite Industries Limited | 0.58% |
| Deepak Nitrite Limited | 0.06% |
| Capital Markets | |
| Multi Commodity Exchange of India Limited | 1.49% |
| HDFC Asset Management Company Limited | 0.75% |
| Realty | |
| DLF Limited | 2.08% |
| Non - Ferrous Metals | |
| National Aluminium Company Limited | 0.86% |
| Hindalco Industries Limited | 0.82% |
| Hindustan Copper Limited | 0.31% |
| Telecom - Services | |
| Vodafone Idea Limited | 1.11% |
| Bharti Airtel Limited | 0.78% |
| Tata Communications Limited | 0.05% |
| Agricultural Food & other Products | |
| Tata Consumer Products Limited | 1.04% |
| Balrampur Chini Mills Limited | 0.58% |
| Marico Limited | 0.32% |
| Electrical Equipment | |
| ABB India Limited | 0.85% |
| Siemens Limited | 0.77% |
| Bharat Heavy Electricals Limited | 0.04% |
| Aerospace & Defense | |
| Hindustan Aeronautics Limited | 0.88% |
| Bharat Electronics Limited | 0.58% |
| Consumer Durables | |
| Titan Company Limited | 0.83% |
| Dixon Technologies (India) Limited | 0.58% |
| Oil | |
| Oil & Natural Gas Corporation Limited | 1.10% |
| Transport Infrastructure | |
| Adani Ports and Special Economic Zone Limited | 0.85% |
| Healthcare Services | |
| Dr. Lal Path Labs Limited | 0.74% |
| Metropolis Healthcare Limited | 0.07% |
| Metals & Minerals Trading | |
| Adani Enterprises Limited | 0.80% |
| Gas | |
| GAIL (India) Limited | 0.79% |
| IT - Services | |
| L&T Technology Services Limited | 0.78% |
| Consumable Fuels | |
| Coal India Limited | 0.76% |
| Petroleum Products | |
| Reliance Industries Limited | 0.76% |
| Construction | |
| Larsen & Toubro Limited | 0.76% |
| Leisure Services | |
| The Indian Hotels Company Limited | 0.54% |
| Delta Corp Limited | 0.21% |
| Agricultural, Commercial & Construction Vehicles | |
| Escorts Kubota Limited | 0.53% |
| Fertilizers & Agrochemicals | |
| PI Industries Limited | 0.39% |
| Beverages | |
| United Breweries Limited | 0.34% |
| Industrial Products | |
| Polycab India Limited | 0.20% |
| Equity Holding Total | 74.67% |
| Treasury Bill | |
| 364 Days Tbill (26/01/2024) | 1.46% |
| 182 Days Tbill (29/03/2024) | 1.45% |
| 364 Days Tbill (28/12/2023) | 0.74% |
| 182 Days Tbill (21/12/2023) | 0.74% |
| 364 Days Tbill (08/02/2024) | 0.73% |
| 182 Days Tbill (07/03/2024) | 0.73% |
| 91 Days Tbill (25/01/2024) | 0.73% |
| 182 Days Tbill (04/04/2024) | 0.72% |
| Treasury Bill Total | 7.30% |
| Government Bond | |
| 6.18% GOI (04/11/2024) | 2.20% |
| Government Bond Total | 2.20% |
| Mutual Fund Units | |
| Mirae Asset Cash Management Fund - Direct Growth | 0.74% |
| Mutual Fund Units Total | 0.74% |
| Commercial Paper | |
| ICICI Securities Ltd (30/04/2024)** | 0.72% |
| Commercial Paper Total | 0.72% |
| Cash & Other Receivables Total | 14.37% |
| Total | 100.00% |
| Name of the Instrument | % to Net Assets |
| Derivatives | |
| Index / Stock Futures | |
| HDFC Bank Ltd | (0.01)% |
| Mahindra & Mahindra Ltd | (0.02)% |
| Bharat Heavy Electricals Ltd | (0.04)% |
| The Federal Bank Ltd | (0.04)% |
| Tata Communications Ltd | (0.05)% |
| Deepak Nitrite Ltd | (0.06)% |
| Metropolis Healthcare Ltd | (0.07)% |
| Shriram Finance Ltd | (0.09)% |
| Cholamandalam Investment and Finance Company Ltd | (0.09)% |
| Divi's Laboratories Ltd | (0.11)% |
| Biocon Ltd | (0.18)% |
| Polycab India Ltd | (0.20)% |
| Delta Corp Ltd | (0.21)% |
| Bajaj Finance Ltd | (0.23)% |
| Max Financial Services Ltd | (0.24)% |
| Hindustan Copper Ltd | (0.32)% |
| Marico Ltd | (0.33)% |
| United Breweries Ltd | (0.34)% |
| Bank of Baroda | (0.39)% |
| PI Industries Ltd | (0.39)% |
| MphasiS Ltd | (0.52)% |
| Escorts Kubota Ltd | (0.53)% |
| The Indian Hotels Company Ltd | (0.54)% |
| Bharat Electronics Ltd | (0.58)% |
| Dixon Technologies (India) Ltd | (0.58)% |
| Balrampur Chini Mills Ltd | (0.59)% |
| Pidilite Industries Ltd | (0.59)% |
| ICICI Lombard General Insurance Company Ltd | (0.61)% |
| ACC Ltd | (0.61)% |
| Piramal Enterprises Ltd | (0.64)% |
| Bandhan Bank Ltd | (0.67)% |
| UltraTech Cement Ltd | (0.68)% |
| Canara Bank | (0.70)% |
| Dr. Reddy's Laboratories Ltd | (0.72)% |
| Dr. Lal Path Labs Ltd | (0.75)% |
| HDFC Asset Management Company Ltd | (0.75)% |
| Eicher Motors Ltd | (0.75)% |
| RBL Bank Ltd | (0.75)% |
| Info Edge (India) Ltd | (0.75)% |
| Tech Mahindra Ltd | (0.76)% |
| Larsen & Toubro Ltd | (0.76)% |
| Maruti Suzuki India Ltd | (0.76)% |
| HCL Technologies Ltd | (0.77)% |
| Reliance Industries Ltd | (0.77)% |
| Coal India Ltd | (0.77)% |
| JSW Steel Ltd | (0.77)% |
| Siemens Ltd | (0.78)% |
| L&T Technology Services Ltd | (0.78)% |
| Hero MotoCorp Ltd | (0.78)% |
| Bharti Airtel Ltd | (0.79)% |
| Jindal Steel & Power Ltd | (0.79)% |
| GAIL (India) Ltd | (0.79)% |
| Bajaj Auto Ltd | (0.79)% |
| Adani Enterprises Ltd | (0.80)% |
| Hindustan Unilever Ltd | (0.81)% |
| Tata Steel Ltd | (0.82)% |
| Zydus Lifesciences Ltd | (0.82)% |
| Dalmia Bharat Ltd | (0.83)% |
| Hindalco Industries Ltd | (0.83)% |
| Infosys Ltd | (0.83)% |
| SBI Life Insurance Company Ltd | (0.83)% |
| Kotak Mahindra Bank Ltd | (0.83)% |
| Titan Company Ltd | (0.84)% |
| Indiamart Intermesh Ltd | (0.84)% |
| ABB India Ltd | (0.85)% |
| Adani Ports and Special Economic Zone Ltd | (0.86)% |
| National Aluminium Company Ltd | (0.86)% |
| ICICI Bank Ltd | (0.86)% |
| Bajaj Finserv Ltd | (0.87)% |
| Hindustan Aeronautics Ltd | (0.88)% |
| SRF Ltd | (0.89)% |
| PVR INOX Ltd | (0.89)% |
| Tata Motors Ltd | (0.90)% |
| Ambuja Cements Ltd | (0.92)% |
| Sun TV Network Ltd | (0.98)% |
| Tata Consultancy Services Ltd | (0.99)% |
| ICICI Prudential Life Insurance Company Ltd | (1.01)% |
| Navin Fluorine International Ltd | (1.01)% |
| Trent Ltd | (1.03)% |
| Tata Consumer Products Ltd | (1.05)% |
| Zee Entertainment Enterprises Ltd | (1.09)% |
| Oil & Natural Gas Corporation Ltd | (1.10)% |
| Vodafone Idea Ltd | (1.13)% |
| IndusInd Bank Ltd | (1.13)% |
| Steel Authority of India Ltd | (1.15)% |
| Coforge Ltd | (1.16)% |
| Multi Commodity Exchange of India Ltd | (1.51)% |
| LIC Housing Finance Ltd | (1.52)% |
| Aditya Birla Capital Ltd | (1.59)% |
| Indiabulls Housing Finance Ltd | (1.65)% |
| Aurobindo Pharma Ltd | (1.66)% |
| IDFC Ltd | (1.79)% |
| Manappuram Finance Ltd | (1.87)% |
| State Bank of India | (1.90)% |
| DLF Ltd | (2.10)% |
| ITC Ltd | (2.32)% |
| Total | (75.19)% |
| Returns (in%) | ||||
| 1 Yr | 3 Yrs | SI | ||
| MAAF | 7.10% | 4.80% | 4.56% | |
| Scheme Benchmark* | 7.87% | 5.32% | 4.83% | |
| Additional Benchmark** | 6.97% | 4.72% | 4.61% | |
| NAV as on 30th November, 2023 | ₹ 11.664 | |||
| Index Value ( 30th November, 2023) | Index Value of Scheme benchmark is 2,240.10 and CRISIL 1 Year T-Bill is 6,931.19 |
|||
| 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.
Latest available NAV has been taken for return calculation wherever applicable
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-November-2023 |
SI |
4,10,000 | 4,49,515 |
3 Yrs |
3,60,000 | 3,91,510 |
1 Yr |
1,20,000 | 1,24,509 |
Returns (%) |
Period |
||
SI |
3yrs |
1yr |
|
Fund Return& (%) |
5.33 | 5.53 | 7.06 |
Benchmark Return& (%) |
5.84 | 6.07 | 7.93 |
Add. Benchmark Return& (%) |
5.31 | 5.51 | 7.01 |
& The SIP returns are calculated by XIRR approach assuming investment of ₹ 10,000/- on the 1st working day of every month.
| Portfolio Turnover Ratio | 25.90 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 November, 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.