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) (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 September 29, 2023 | 398.32 |
| Net AUM (₹ Cr.) |
417.88 |
| Monthly Total Expense Ratio (Including Statutory Levies) as on September 29, 2023 |
Regular Plan: 0.97% Direct Plan: 0.27% |
| **For experience of Fund Managers Click Here | |
| NAV: | Direct | Regular |
| Growth | ₹ 11.817 | ₹ 11.548 |
| IDCW | ₹ 11.802 | ₹ 11.547 |
Average Maturity |
0.34 Years |
Modified Duration |
0.32 Years |
Macaulay Duration |
0.33 Years |
Annualized Portfolio YTM* |
6.90% |
*In case of semi annual YTM, it will be annualized.
| Portfolio Holdings | % Allocation |
| Banks | |
| Kotak Mahindra Bank Limited | 2.38% |
| HDFC Bank Limited | 1.75% |
| Bank of Baroda | 1.44% |
| State Bank of India | 1.40% |
| RBL Bank Limited | 1.30% |
| IndusInd Bank Limited | 1.28% |
| Axis Bank Limited | 1.27% |
| Bandhan Bank Limited | 1.19% |
| The Federal Bank Limited | 0.99% |
| ICICI Bank Limited | 0.51% |
| Automobiles | |
| Eicher Motors Limited | 1.27% |
| Maruti Suzuki India Limited | 1.27% |
| Tata Motors Limited | 1.22% |
| Hero MotoCorp Limited | 1.21% |
| Mahindra & Mahindra Limited | 1.17% |
| TVS Motor Company Limited | 0.15% |
| Pharmaceuticals & Biotechnology | |
| Cipla Limited | 1.37% |
| Sun Pharmaceutical Industries Limited | 1.24% |
| Aurobindo Pharma Limited | 1.03% |
| Zydus Lifesciences Limited | 0.95% |
| Biocon Limited | 0.33% |
| Cement & Cement Products | |
| Dalmia Bharat Limited | 1.44% |
| Ambuja Cements Limited | 1.43% |
| ACC Limited | 1.20% |
| JK Cement Limited | 0.86% |
| IT - Software | |
| Tech Mahindra Limited | 2.19% |
| Wipro Limited | 1.22% |
| Coforge Limited | 1.15% |
| Tata Consultancy Services Limited | 0.06% |
| Telecom - Services | |
| Tata Communications Limited | 2.66% |
| Vodafone Idea Limited | 1.41% |
| Finance | |
| Indiabulls Housing Finance Limited | 1.29% |
| Piramal Enterprises Limited | 1.17% |
| IDFC Limited | 0.71% |
| Consumer Durables | |
| Titan Company Limited | 3.05% |
| Industrial Products | |
| Bharat Forge Limited | 1.57% |
| Polycab India Limited | 1.27% |
| Insurance | |
| SBI Life Insurance Company Limited | 1.22% |
| Max Financial Services Limited | 1.06% |
| HDFC Life Insurance Company Limited | 0.50% |
| Electrical Equipment | |
| Bharat Heavy Electricals Limited | 1.28% |
| ABB India Limited | 1.23% |
| Siemens Limited | 0.15% |
| Realty | |
| DLF Limited | 1.38% |
| Godrej Properties Limited | 1.18% |
| Oil | |
| Oil & Natural Gas Corporation Limited | 2.44% |
| Entertainment | |
| PVR INOX Limited | 1.24% |
| Sun TV Network Limited | 1.08% |
| Ferrous Metals | |
| Tata Steel Limited | 1.36% |
| Steel Authority of India Limited | 0.72% |
| Power | |
| NTPC Limited | 1.25% |
| Power Grid Corporation of India Limited | 0.81% |
| Petroleum Products | |
| Reliance Industries Limited | 1.22% |
| Hindustan Petroleum Corporation Limited | 0.43% |
| Non - Ferrous Metals | |
| National Aluminium Company Limited | 1.47% |
| Transport Infrastructure | |
| Adani Ports and Special Economic Zone Limited | 1.37% |
| Consumable Fuels | |
| Coal India Limited | 1.22% |
| Construction | |
| Larsen & Toubro Limited | 1.22% |
| Gas | |
| GAIL (India) Limited | 1.20% |
| Aerospace & Defense | |
| Bharat Electronics Limited | 1.17% |
| Fertilizers & Agrochemicals | |
| UPL Limited | 1.17% |
| Agricultural, Commercial & Construction Vehicles | |
| Escorts Kubota Limited | 1.11% |
| Healthcare Services | |
| Dr. Lal Path Labs Limited | 1.03% |
| Agricultural Food & other Products | |
| Balrampur Chini Mills Limited | 0.87% |
| Metals & Minerals Trading | |
| Adani Enterprises Limited | 0.14% |
| Diversified Metals | |
| Vedanta Limited | 0.14% |
| Retailing | |
| Trent Limited | 0.02% |
| Equity Holding Total | 78.05% |
| Treasury Bill | |
| 364 Days Tbill (12/10/2023) | 1.19% |
| 182 Days Tbill (21/12/2023) | 1.18% |
| 364 Days Tbill (28/12/2023) | 1.18% |
| 364 Days Tbill (26/01/2024) | 1.17% |
| 364 Days Tbill (08/02/2024) | 1.17% |
| Treasury Bill Total | 5.89% |
| Government Bond | |
| 6.18% GOI (04/11/2024) | 3.55% |
| Government Bond Total | 3.55% |
| Mutual Fund Units | |
| Mirae Asset Cash Management Fund - DIRECT GROWTH | 1.20% |
| Mutual Fund Units Total | 1.20% |
| Cash & Other Receivables Total | 11.31% |
| Total | 100.00% |
| Name of the Instrument | % to Net Assets |
| Derivatives | |
| Index / Stock Futures | |
| Trent Ltd October 2023 Future | (0.02)% |
| Vodafone Idea Ltd November 2023 Future | (0.05)% |
| Tata Communications Ltd November 2023 Future | (0.05)% |
| Tata Consultancy Services Ltd October 2023 Future | (0.06)% |
| Vedanta Ltd October 2023 Future | (0.14)% |
| Adani Enterprises Ltd October 2023 Future | (0.14)% |
| Siemens Ltd October 2023 Future | (0.15)% |
| TVS Motor Company Ltd October 2023 Future | (0.15)% |
| Reliance Industries Ltd November 2023 Future | (0.28)% |
| IDFC Ltd November 2023 Future | (0.31)% |
| Biocon Ltd October 2023 Future | (0.33)% |
| IDFC Ltd October 2023 Future | (0.40)% |
| Hindustan Petroleum Corporation Ltd October 2023 Future | (0.43)% |
| HDFC Life Insurance Company Ltd October 2023 Future | (0.51)% |
| ICICI Bank Ltd October 2023 Future | (0.51)% |
| HDFC Bank Ltd November 2023 Future | (0.59)% |
| Steel Authority of India Ltd October 2023 Future | (0.72)% |
| Power Grid Corporation of India Ltd October 2023 Future | (0.81)% |
| JK Cement Ltd October 2023 Future | (0.86)% |
| Balrampur Chini Mills Ltd October 2023 Future | (0.88)% |
| Reliance Industries Ltd October 2023 Future | (0.95)% |
| Zydus Lifesciences Ltd October 2023 Future | (0.96)% |
| The Federal Bank Ltd October 2023 Future | (0.99)% |
| Dr. Lal Path Labs Ltd October 2023 Future | (1.04)% |
| Aurobindo Pharma Ltd October 2023 Future | (1.04)% |
| Max Financial Services Ltd October 2023 Future | (1.07)% |
| Sun TV Network Ltd October 2023 Future | (1.08)% |
| Escorts Kubota Ltd October 2023 Future | (1.12)% |
| Coforge Ltd October 2023 Future | (1.16)% |
| HDFC Bank Ltd October 2023 Future | (1.17)% |
| Bharat Electronics Ltd October 2023 Future | (1.17)% |
| Piramal Enterprises Ltd October 2023 Future | (1.17)% |
| UPL Ltd October 2023 Future | (1.18)% |
| Mahindra & Mahindra Ltd October 2023 Future | (1.18)% |
| Godrej Properties Ltd October 2023 Future | (1.19)% |
| Bandhan Bank Ltd October 2023 Future | (1.19)% |
| Hero MotoCorp Ltd October 2023 Future | (1.21)% |
| GAIL (India) Ltd October 2023 Future | (1.21)% |
| ACC Ltd October 2023 Future | (1.21)% |
| Larsen & Toubro Ltd October 2023 Future | (1.22)% |
| Coal India Ltd October 2023 Future | (1.22)% |
| SBI Life Insurance Company Ltd October 2023 Future | (1.23)% |
| Tata Motors Ltd October 2023 Future | (1.23)% |
| Wipro Ltd October 2023 Future | (1.23)% |
| ABB India Ltd October 2023 Future | (1.23)% |
| PVR INOX Ltd October 2023 Future | (1.25)% |
| Sun Pharmaceutical Industries Ltd October 2023 Future | (1.25)% |
| NTPC Ltd October 2023 Future | (1.26)% |
| Polycab India Ltd October 2023 Future | (1.27)% |
| Maruti Suzuki India Ltd October 2023 Future | (1.28)% |
| Axis Bank Ltd October 2023 Future | (1.28)% |
| Eicher Motors Ltd October 2023 Future | (1.28)% |
| IndusInd Bank Ltd October 2023 Future | (1.29)% |
| Bharat Heavy Electricals Ltd October 2023 Future | (1.29)% |
| Indiabulls Housing Finance Ltd October 2023 Future | (1.30)% |
| RBL Bank Ltd October 2023 Future | (1.30)% |
| Tata Steel Ltd October 2023 Future | (1.37)% |
| Vodafone Idea Ltd October 2023 Future | (1.37)% |
| Cipla Ltd October 2023 Future | (1.37)% |
| Adani Ports and Special Economic Zone Ltd October 2023 Future | (1.38)% |
| DLF Ltd October 2023 Future | (1.39)% |
| State Bank of India October 2023 Future | (1.40)% |
| Ambuja Cements Ltd October 2023 Future | (1.44)% |
| Bank of Baroda October 2023 Future | (1.45)% |
| Dalmia Bharat Ltd October 2023 Future | (1.45)% |
| National Aluminium Company Ltd October 2023 Future | (1.48)% |
| Bharat Forge Ltd October 2023 Future | (1.58)% |
| Tech Mahindra Ltd October 2023 Future | (2.20)% |
| Kotak Mahindra Bank Ltd October 2023 Future | (2.39)% |
| Oil & Natural Gas Corporation Ltd October 2023 Future | (2.44)% |
| Tata Communications Ltd October 2023 Future | (2.62)% |
| Titan Company Ltd October 2023 Future | (3.07)% |
| Total | (78.48)% |
| Returns (in%) | ||||
| 1 Yr | 3 Yrs | SI | ||
| MAAF | 6.78% | 4.63% | 4.49% | |
| Scheme Benchmark* | 7.47% | 5.04% | 4.74% | |
| Additional Benchmark** | 6.72% | 4.58% | 4.47% | |
| NAV as on 29th September, 2023 | ₹ 11.548 | |||
| Index Value (29th September, 2023) | Index Value of Scheme benchmark is 2,215.49 and CRISIL 1 Year T-Bill is 6,847.90 |
|||
| 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 29-September-2023 |
SI |
3,90,000 | 4,25,114 |
3 Yrs |
3,60,000 | 3,90,550 |
1 Yr |
1,20,000 | 1,24,659 |
Returns (%) |
Period |
||
SI |
3yrs |
1yr |
|
Fund Return& (%) |
5.26 | 5.38 | 7.34 |
Benchmark Return& (%) |
5.75 | 5.90 | 8.25 |
Add. Benchmark Return& (%) |
5.10 | 5.21 | 6.86 |
& The SIP returns are calculated by XIRR approach assuming investment of ₹ 10,000/- on the 1st working day of every month.
| Portfolio Turnover Ratio | 25.51 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 29th September, 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.