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 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 October 31, 2023 | 465.63 |
| Net AUM (₹ Cr.) |
529.38 |
| Monthly Total Expense Ratio (Including Statutory Levies) as on October 31, 2023 |
Regular Plan: 0.91% Direct Plan: 0.20% |
| **For experience of Fund Managers Click Here | |
| NAV: | Direct | Regular |
| Growth | ₹ 11.894 | ₹ 11.616 |
| IDCW | ₹ 11.878 | ₹ 11.616 |
Average Maturity |
0.30 Years |
Modified Duration |
0.29 Years |
Macaulay Duration |
0.29 Years |
Annualized Portfolio YTM* |
6.97% |
*In case of semi annual YTM, it will be annualized.
| Portfolio Holdings | % Allocation |
| Banks | |
| HDFC Bank Limited | 2.02% |
| IndusInd Bank Limited | 1.82% |
| Bank of Baroda | 1.26% |
| ICICI Bank Limited | 1.08% |
| State Bank of India | 1.06% |
| Kotak Mahindra Bank Limited | 1.05% |
| Canara Bank | 0.96% |
| Axis Bank Limited | 0.95% |
| RBL Bank Limited | 0.90% |
| Bandhan Bank Limited | 0.80% |
| City Union Bank Limited | 0.05% |
| Pharmaceuticals & Biotechnology | |
| Sun Pharmaceutical Industries Limited | 2.81% |
| Divi's Laboratories Limited | 1.05% |
| Cipla Limited | 0.94% |
| Zydus Lifesciences Limited | 0.94% |
| Aurobindo Pharma Limited | 0.76% |
| Biocon Limited | 0.21% |
| Finance | |
| Cholamandalam Investment and Finance Company Ltd | 2.12% |
| IDFC Limited | 1.32% |
| LIC Housing Finance Limited | 0.94% |
| Indiabulls Housing Finance Limited | 0.89% |
| Piramal Enterprises Limited | 0.86% |
| Bajaj Finserv Limited | 0.16% |
| Automobiles | |
| Tata Motors Limited | 1.02% |
| Hero MotoCorp Limited | 0.96% |
| Mahindra & Mahindra Limited | 0.94% |
| Maruti Suzuki India Limited | 0.92% |
| Eicher Motors Limited | 0.92% |
| Telecom - Services | |
| Bharti Airtel Limited | 1.59% |
| Tata Communications Limited | 1.40% |
| Vodafone Idea Limited | 1.38% |
| Cement & Cement Products | |
| Ambuja Cements Limited | 1.13% |
| UltraTech Cement Limited | 1.07% |
| Dalmia Bharat Limited | 0.99% |
| ACC Limited | 0.89% |
| Entertainment | |
| Zee Entertainment Enterprises Limited | 1.20% |
| Sun TV Network Limited | 1.17% |
| PVR INOX Limited | 1.06% |
| Ferrous Metals | |
| Tata Steel Limited | 0.99% |
| Jindal Steel & Power Limited | 0.94% |
| JSW Steel Limited | 0.90% |
| Steel Authority of India Limited | 0.51% |
| Realty | |
| DLF Limited | 2.21% |
| Godrej Properties Limited | 1.00% |
| IT - Software | |
| Tata Consultancy Services Limited | 1.20% |
| MphasiS Limited | 0.85% |
| Coforge Limited | 0.59% |
| Infosys Limited | 0.04% |
| Industrial Products | |
| Bharat Forge Limited | 1.16% |
| Polycab India Limited | 1.03% |
| Aerospace & Defense | |
| Hindustan Aeronautics Limited | 1.24% |
| Bharat Electronics Limited | 0.89% |
| Consumer Durables | |
| Titan Company Limited | 1.20% |
| Dixon Technologies (India) Limited | 0.89% |
| Electrical Equipment | |
| ABB India Limited | 0.97% |
| Siemens Limited | 0.90% |
| Bharat Heavy Electricals Limited | 0.12% |
| Non - Ferrous Metals | |
| National Aluminium Company Limited | 1.10% |
| Hindalco Industries Limited | 0.86% |
| Agricultural, Commercial & Construction Vehicles | |
| Ashok Leyland Limited | 0.95% |
| Escorts Kubota Limited | 0.86% |
| Insurance | |
| SBI Life Insurance Company Limited | 1.01% |
| ICICI Prudential Life Insurance Company Limited | 0.65% |
| Beverages | |
| United Breweries Limited | 0.87% |
| United Spirits Limited | 0.63% |
| Transport Services | |
| InterGlobe Aviation Limited | 1.43% |
| Petroleum Products | |
| Reliance Industries Limited | 0.94% |
| Hindustan Petroleum Corporation Limited | 0.33% |
| Personal Products | |
| Dabur India Limited | 1.11% |
| Consumable Fuels | |
| Coal India Limited | 1.07% |
| Transport Infrastructure | |
| Adani Ports and Special Economic Zone Limited | 1.03% |
| Retailing | |
| Trent Limited | 1.01% |
| Metals & Minerals Trading | |
| Adani Enterprises Limited | 0.99% |
| Gas | |
| GAIL (India) Limited | 0.91% |
| Construction | |
| Larsen & Toubro Limited | 0.90% |
| IT - Services | |
| L&T Technology Services Limited | 0.87% |
| Leisure Services | |
| The Indian Hotels Company Limited | 0.62% |
| Delta Corp Limited | 0.24% |
| Agricultural Food & other Products | |
| Balrampur Chini Mills Limited | 0.65% |
| Tata Consumer Products Limited | 0.12% |
| Food Products | |
| Britannia Industries Limited | 0.77% |
| Fertilizers & Agrochemicals | |
| PI Industries Limited | 0.39% |
| UPL Limited | 0.05% |
| Chemicals & Petrochemicals | |
| Navin Fluorine International Limited | 0.12% |
| Pidilite Industries Limited | 0.09% |
| Deepak Nitrite Limited | 0.07% |
| Oil | |
| Oil & Natural Gas Corporation Limited | 0.16% |
| Healthcare Services | |
| Metropolis Healthcare Limited | 0.07% |
| Diversified FMCG | |
| ITC Limited | 0.06% |
| Equity Holding Total | 80.12% |
| Treasury Bill | |
| 364 Days Tbill (26/01/2024) | 1.86% |
| 182 Days Tbill (29/03/2024) | 1.84% |
| 182 Days Tbill (21/12/2023) | 0.94% |
| 364 Days Tbill (28/12/2023) | 0.93% |
| 91 Days Tbill (25/01/2024) | 0.93% |
| 364 Days Tbill (08/02/2024) | 0.93% |
| 182 Days Tbill (07/03/2024) | 0.92% |
| 182 Days Tbill (04/04/2024) | 0.92% |
| Treasury Bill Total | 9.26% |
| Government Bond | |
| 6.18% GOI (04/11/2024) | 2.81% |
| Government Bond Total | 2.81% |
| Commercial Paper | |
| ICICI Securities Ltd (30/04/2024) ** | 0.91% |
| Commercial Paper Total | 0.91% |
| Cash & Other Receivables Total | 6.90% |
| Total | 100.00% |
| Name of the Instrument | % to Net Assets |
| Derivatives | |
| Index / Stock Futures | |
| Infosys Ltd | (0.04)% |
| City Union Bank Ltd | (0.05)% |
| UPL Ltd | (0.05)% |
| ITC Ltd | (0.07)% |
| Deepak Nitrite Ltd | (0.07)% |
| Metropolis Healthcare Ltd | (0.07)% |
| Pidilite Industries Ltd | (0.09)% |
| Navin Fluorine International Ltd | (0.12)% |
| Bharat Heavy Electricals Ltd | (0.12)% |
| Tata Consumer Products Ltd | (0.12)% |
| Oil & Natural Gas Corporation Ltd | (0.16)% |
| Bajaj Finserv Ltd | (0.16)% |
| Biocon Ltd | (0.21)% |
| Delta Corp Ltd | (0.24)% |
| Hindustan Petroleum Corporation Ltd | (0.33)% |
| PI Industries Ltd | (0.39)% |
| Steel Authority of India Ltd | (0.51)% |
| Coforge Ltd | (0.59)% |
| The Indian Hotels Company Ltd | (0.63)% |
| United Spirits Ltd | (0.63)% |
| Balrampur Chini Mills Ltd | (0.65)% |
| ICICI Prudential Life Insurance Company Ltd | (0.66)% |
| Aurobindo Pharma Ltd | (0.76)% |
| Britannia Industries Ltd | (0.77)% |
| Bandhan Bank Ltd | (0.80)% |
| MphasiS Ltd | (0.85)% |
| Piramal Enterprises Ltd | (0.86)% |
| Escorts Kubota Ltd | (0.87)% |
| Hindalco Industries Ltd | (0.87)% |
| United Breweries Ltd | (0.87)% |
| L&T Technology Services Ltd | (0.88)% |
| Dixon Technologies (India) Ltd | (0.89)% |
| ACC Ltd | (0.89)% |
| Bharat Electronics Ltd | (0.89)% |
| Indiabulls Housing Finance Ltd | (0.89)% |
| Larsen & Toubro Ltd | (0.90)% |
| RBL Bank Ltd | (0.90)% |
| Siemens Ltd | (0.90)% |
| JSW Steel Ltd | (0.90)% |
| GAIL (India) Ltd | (0.91)% |
| Eicher Motors Ltd | (0.92)% |
| Maruti Suzuki India Ltd | (0.93)% |
| Mahindra & Mahindra Ltd | (0.94)% |
| LIC Housing Finance Ltd | (0.94)% |
| Zydus Lifesciences Ltd | (0.94)% |
| Reliance Industries Ltd | (0.95)% |
| Jindal Steel & Power Ltd | (0.95)% |
| Cipla Ltd | (0.95)% |
| Axis Bank Ltd | (0.95)% |
| Ashok Leyland Ltd | (0.96)% |
| Canara Bank | (0.97)% |
| Hero MotoCorp Ltd | (0.97)% |
| ABB India Ltd | (0.98)% |
| Tata Steel Ltd | (0.99)% |
| Adani Enterprises Ltd | (0.99)% |
| Dalmia Bharat Ltd | (1.00)% |
| Godrej Properties Ltd | (1.00)% |
| SBI Life Insurance Company Ltd | (1.01)% |
| Trent Ltd | (1.01)% |
| Tata Motors Ltd | (1.02)% |
| Polycab India Ltd | (1.04)% |
| Adani Ports and Special Economic Zone Ltd | (1.04)% |
| Kotak Mahindra Bank Ltd | (1.06)% |
| Divi's Laboratories Ltd | (1.06)% |
| State Bank of India | (1.06)% |
| PVR INOX Ltd | (1.06)% |
| UltraTech Cement Ltd | (1.07)% |
| Coal India Ltd | (1.08)% |
| ICICI Bank Ltd | (1.08)% |
| National Aluminium Company Ltd | (1.11)% |
| Dabur India Ltd | (1.11)% |
| Ambuja Cements Ltd | (1.13)% |
| Bharat Forge Ltd | (1.16)% |
| Sun TV Network Ltd | (1.17)% |
| Titan Company Ltd | (1.20)% |
| Tata Consultancy Services Ltd | (1.21)% |
| Zee Entertainment Enterprises Ltd | (1.21)% |
| Hindustan Aeronautics Ltd | (1.25)% |
| Bank of Baroda | (1.27)% |
| IDFC Ltd | (1.32)% |
| Vodafone Idea Ltd | (1.40)% |
| Tata Communications Ltd | (1.40)% |
| InterGlobe Aviation Ltd | (1.44)% |
| Bharti Airtel Ltd | (1.60)% |
| IndusInd Bank Ltd | (1.83)% |
| HDFC Bank Ltd | (2.04)% |
| Cholamandalam Investment and Finance Company Ltd | (2.13)% |
| DLF Ltd | (2.23)% |
| Sun Pharmaceutical Industries Ltd | (2.82)% |
| Total | (80.54)% |
| Returns (in%) | ||||
| 1 Yr | 3 Yrs | SI | ||
| MAAF | 7.08% | 4.68% | 4.55% | |
| Scheme Benchmark* | 7.80% | 5.16% | 4.80% | |
| Additional Benchmark** | 7.01% | 4.63% | 4.54% | |
| NAV as on 31st October, 2023 | ₹ 11.616 | |||
| Index Value (31st October, 2023) | Index Value of Scheme benchmark is 2,229.20 and CRISIL 1 Year T-Bill is 6,889.76 |
|||
| 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 31-October-2023 |
SI |
4,00,000 | 4,37,673 |
3 Yrs |
3,60,000 | 3,91,382 |
1 Yr |
1,20,000 | 1,24,719 |
Returns (%) |
Period |
||
SI |
3yrs |
1yr |
|
Fund Return& (%) |
5.34 | 5.51 | 7.38 |
Benchmark Return& (%) |
5.83 | 6.02 | 8.20 |
Add. Benchmark Return& (%) |
5.20 | 5.35 | 6.92 |
& The SIP returns are calculated by XIRR approach assuming investment of ₹ 10,000/- on the 1st working day of every month.
| Portfolio Turnover Ratio | 25.83 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 October, 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.