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 January 31, 2023 | 331.66 |
| Net AUM (₹ Cr.) |
331.58 |
| Monthly Avg. Expense Ratio (Including Statutory Levies) as on January 31, 2023 |
Regular Plan: 1.09% Direct Plan: 0.36% |
| **For experience of Fund Managers Click Here | |
| ^Pursuant to Notice cum addendum dated March 27, 2021 the nomenclature of dividend option has been changed w.e.f. April 01, 2021. # 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 | ₹ 11.194 | ₹ 10.992 |
| IDCW^ | ₹ 11.185 | ₹ 10.991 |
| Portfolio Turnover Ratio | 22.16 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 January, 2023. ^Basis last rolling 12 months. |
|
Average Maturity |
0.84 Years |
Modified Duration |
0.80 Years |
Macaulay Duration |
0.83 Years |
Annualized Portfolio YTM* |
6.87% |
*In case of semi annual YTM, it will be annualized.
| Portfolio Holdings | % Allocation |
| Banks | |
| ICICI Bank Ltd | 3.00% |
| Kotak Mahindra Bank Ltd | 2.44% |
| Axis Bank Ltd | 1.58% |
| State Bank of India | 1.55% |
| HDFC Bank Ltd | 1.46% |
| IndusInd Bank Ltd | 1.37% |
| Bank of Baroda | 1.24% |
| Automobiles | |
| TVS Motor Company Ltd | 4.82% |
| Bajaj Auto Ltd | 2.76% |
| Mahindra & Mahindra Ltd | 1.60% |
| Eicher Motors Ltd | 1.58% |
| Tata Motors Ltd | 1.53% |
| Finance | |
| Piramal Enterprises Ltd | 2.00% |
| Housing Development Finance Corporation Ltd | 1.50% |
| SBI Cards and Payment Services Ltd | 1.17% |
| Bajaj Finserv Ltd | 0.69% |
| IDFC Ltd | 0.36% |
| Entertainment | |
| Sun TV Network Ltd | 4.10% |
| Zee Entertainment Enterprises Ltd | 1.13% |
| Cement & Cement Products | |
| Grasim Industries Ltd | 1.48% |
| Ambuja Cements Ltd | 1.24% |
| Dalmia Bharat Ltd | 1.12% |
| IT - Software | |
| Tata Consultancy Services Ltd | 1.65% |
| Tech Mahindra Ltd | 1.62% |
| Ferrous Metals | |
| Jindal Steel & Power Ltd | 1.63% |
| Tata Steel Ltd | 1.61% |
| Telecom - Services | |
| Bharti Airtel Ltd | 1.59% |
| Tata Communications Ltd | 1.56% |
| Power | |
| Tata Power Company Ltd | 1.60% |
| NTPC Ltd | 1.53% |
| Insurance | |
| SBI Life Insurance Company Ltd | 1.43% |
| ICICI Lombard General Insurance Company Ltd | 1.43% |
| ICICI Prudential Life Insurance Company Ltd | 0.23% |
| Pharmaceuticals & Biotechnology | |
| Cipla Ltd | 2.59% |
| Consumer Durables | |
| Crompton Greaves Consumer Electricals Ltd | 1.47% |
| Titan Company Ltd | 0.54% |
| Voltas Ltd | 0.28% |
| Asian Paints Ltd | 0.18% |
| Non - Ferrous Metals | |
| Hindalco Industries Ltd | 1.66% |
| National Aluminium Company Ltd | 0.36% |
| Agricultural, Commercial & Construction Vehicles | |
| Ashok Leyland Ltd | 1.83% |
| Escorts Kubota Ltd | 0.16% |
| Healthcare Services | |
| Syngene International Ltd | 1.66% |
| Transport Infrastructure | |
| Adani Ports and Special Economic Zone Ltd | 1.59% |
| Fertilizers & Agrochemicals | |
| PI Industries Ltd | 1.51% |
| Petroleum Products | |
| Reliance Industries Ltd | 1.47% |
| Construction | |
| Larsen & Toubro Ltd | 1.42% |
| Beverages | |
| United Spirits Ltd | 1.41% |
| Chemicals & Petrochemicals | |
| SRF Ltd | 0.27% |
| Diversified FMCG | |
| Hindustan Unilever Ltd | 0.26% |
| Aerospace & Defense | |
| Hindustan Aeronautics Ltd | 0.18% |
| Capital Markets | |
| Multi Commodity Exchange of India Ltd | 0.07% |
| Equity Holding Total | 74.52% |
| Equity Futures | |
| Multi Commodity Exchange of India Ltd February 2023 Future | -0.07% |
| Escorts Kubota Ltd February 2023 Future | -0.16% |
| Asian Paints Ltd February 2023 Future | -0.18% |
| Hindustan Aeronautics Ltd February 2023 Future | -0.19% |
| ICICI Prudential Life Insurance Company Ltd February 2023 Future | -0.23% |
| Hindustan Unilever Ltd February 2023 Future | -0.26% |
| SRF Ltd February 2023 Future | -0.27% |
| Voltas Ltd February 2023 Future | -0.28% |
| National Aluminium Company Ltd February 2023 Future | -0.36% |
| IDFC Ltd February 2023 Future | -0.36% |
| Titan Company Ltd February 2023 Future | -0.54% |
| Bajaj Finserv Ltd February 2023 Future | -0.69% |
| Dalmia Bharat Ltd February 2023 Future | -1.13% |
| Zee Entertainment Enterprises Ltd February 2023 Future | -1.14% |
| SBI Cards and Payment Services Ltd February 2023 Future | -1.18% |
| Ambuja Cements Ltd February 2023 Future | -1.25% |
| Bank of Baroda February 2023 Future | -1.25% |
| IndusInd Bank Ltd February 2023 Future | -1.38% |
| United Spirits Ltd February 2023 Future | -1.42% |
| Larsen & Toubro Ltd February 2023 Future | -1.43% |
| ICICI Lombard General Insurance Company Ltd February 2023 Future | -1.45% |
| SBI Life Insurance Company Ltd February 2023 Future | -1.45% |
| HDFC Bank Ltd February 2023 Future | -1.48% |
| Crompton Greaves Consumer Electricals Ltd February 2023 Future | -1.48% |
| Reliance Industries Ltd February 2023 Future | -1.48% |
| Grasim Industries Ltd February 2023 Future | -1.49% |
| Housing Development Finance Corporation Ltd February 2023 Future | -1.51% |
| PI Industries Ltd February 2023 Future | -1.53% |
| NTPC Ltd February 2023 Future | -1.54% |
| Tata Motors Ltd February 2023 Future | -1.55% |
| State Bank of India February 2023 Future | -1.57% |
| Tata Communications Ltd February 2023 Future | -1.58% |
| Axis Bank Ltd February 2023 Future | -1.59% |
| Eicher Motors Ltd February 2023 Future | -1.60% |
| Bharti Airtel Ltd February 2023 Future | -1.60% |
| Adani Ports and Special Economic Zone Ltd February 2023 Future | -1.60% |
| Mahindra & Mahindra Ltd February 2023 Future | -1.61% |
| Tata Power Company Ltd February 2023 Future | -1.62% |
| Tata Steel Ltd February 2023 Future | -1.62% |
| Tech Mahindra Ltd February 2023 Future | -1.63% |
| Jindal Steel & Power Ltd February 2023 Future | -1.64% |
| Tata Consultancy Services Ltd February 2023 Future | -1.66% |
| Hindalco Industries Ltd February 2023 Future | -1.68% |
| Syngene International Ltd February 2023 Future | -1.69% |
| Ashok Leyland Ltd February 2023 Future | -1.84% |
| Piramal Enterprises Ltd February 2023 Future | -2.01% |
| Kotak Mahindra Bank Ltd February 2023 Future | -2.46% |
| Cipla Ltd February 2023 Future | -2.61% |
| Bajaj Auto Ltd February 2023 Future | -2.79% |
| ICICI Bank Ltd February 2023 Future | -3.03% |
| Sun TV Network Ltd February 2023 Future | -4.11% |
| TVS Motor Company Ltd February 2023 Future | -4.83% |
| Equity Futures Total | -75.08% |
| Treasury Bill | |
| 364 Days Tbill (01/06/2023) | 2.95% |
| 364 Days Tbill (15/06/2023) | 1.47% |
| 364 Days Tbill (22/06/2023) | 1.47% |
| 364 Days Tbill (17/08/2023) | 1.45% |
| 364 Days Tbill (14/09/2023) | 1.45% |
| 364 Days Tbill (28/09/2023) | 1.44% |
| 364 Days Tbill (12/10/2023) | 1.44% |
| Treasury Bill Total | 11.68% |
| Government Bond | |
| 6.18% GOI (04/11/2024) | 4.46% |
| Government Bond Total | 4.46% |
| Cash & Other Receivables Total | 84.42% |
| Total | 100.00% |
| Returns (in%) | ||||
| 1 Yr | SI | |||
| MAAF | 4.06% |
3.68% |
||
| Scheme Benchmark* | 4.19% |
3.75% |
||
| Additional Benchmark** | 4.56% |
3.90% |
||
| NAV as on 31st January, 2023 | ₹ 10.992 | |||
| Index Value (31st January, 2023) | Index Value of Scheme benchmark is 2,096.44 and CRISIL 1 Year T-Bill is 6,558.51 |
|||
| 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.
| Period | Total Amount Invested | Mkt Value as on 31-January-2023 |
SI |
310,000 |
326,399 |
1 Yr |
120,000 |
122,833 |
Returns (%) |
Period |
|
SI |
1yr |
|
Fund Return& (%) |
3.91 |
4.39 |
Benchmark Return& (%) |
4.16 |
4.53 |
Add. Benchmark Return& (%) |
4.19 |
5.26 |
& The SIP returns are calculated by XIRR approach assuming investment of ₹ 10,000/- on the 1st working day of every month.
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.
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