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 August 31, 2023 | 359.42 |
| Net AUM (₹ Cr.) |
381.04 |
| Monthly Total Expense Ratio (Including Statutory Levies) as on August 31, 2023 |
Regular Plan: 0.97% Direct Plan: 0.27% |
| **For experience of Fund Managers Click Here | |
| NAV: | Direct | Regular |
| Growth | ₹ 11.729 | ₹ 11.469 |
| IDCW | ₹ 11.715 | ₹ 11.468 |
Average Maturity |
0.30 Years |
Modified Duration |
0.28 Years |
Macaulay Duration |
0.29 Years |
Annualized Portfolio YTM* |
6.78% |
*In case of semi annual YTM, it will be annualized.
| Portfolio Holdings | % Allocation |
| Banks | |
| Bank of Baroda | 1.84% |
| HDFC Bank Ltd | 1.66% |
| The Federal Bank Ltd | 1.47% |
| State Bank of India | 1.44% |
| Bandhan Bank Ltd | 1.36% |
| ICICI Bank Ltd | 1.34% |
| Kotak Mahindra Bank Ltd | 1.31% |
| Axis Bank Ltd | 1.31% |
| IndusInd Bank Ltd | 1.30% |
| RBL Bank Ltd | 0.85% |
| Cement & Cement Products | |
| Ambuja Cements Ltd | 1.58% |
| ACC Ltd | 1.37% |
| UltraTech Cement Ltd | 1.37% |
| JK Cement Ltd | 1.32% |
| Shree Cement Ltd | 0.94% |
| Finance | |
| Indiabulls Housing Finance Ltd | 2.28% |
| Shriram Finance Ltd | 1.34% |
| SBI Cards and Payment Services Ltd | 1.29% |
| Power Finance Corporation Ltd | 1.06% |
| Pharmaceuticals & Biotechnology | |
| Sun Pharmaceutical Industries Ltd | 1.88% |
| Zydus Lifesciences Ltd | 1.51% |
| Aurobindo Pharma Ltd | 1.13% |
| Dr. Reddy's Laboratories Ltd | 0.88% |
| Biocon Ltd | 0.34% |
| IT - Software | |
| Infosys Ltd | 1.39% |
| Tech Mahindra Ltd | 1.38% |
| Wipro Ltd | 1.35% |
| HCL Technologies Ltd | 0.45% |
| Ferrous Metals | |
| Tata Steel Ltd | 1.83% |
| Jindal Steel & Power Ltd | 1.39% |
| Steel Authority of India Ltd | 1.10% |
| Automobiles | |
| Maruti Suzuki India Ltd | 1.34% |
| Eicher Motors Ltd | 1.30% |
| Tata Motors Ltd | 1.28% |
| Mahindra & Mahindra Ltd | 0.20% |
| Bajaj Auto Ltd | 0.09% |
| Fertilizers & Agrochemicals | |
| PI Industries Ltd | 2.45% |
| UPL Ltd | 1.23% |
| Industrial Products | |
| Bharat Forge Ltd | 1.69% |
| Polycab India Ltd | 1.33% |
| Entertainment | |
| Sun TV Network Ltd | 1.24% |
| Zee Entertainment Enterprises Ltd | 0.95% |
| PVR INOX Ltd | 0.52% |
| Retailing | |
| Trent Ltd | 1.35% |
| Indiamart Intermesh Ltd | 0.34% |
| Info Edge (India) Ltd | 0.26% |
| Non - Ferrous Metals | |
| Hindalco Industries Ltd | 1.32% |
| National Aluminium Company Ltd | 0.57% |
| Petroleum Products | |
| Reliance Industries Ltd | 1.29% |
| Hindustan Petroleum Corporation Ltd | 0.56% |
| Telecom - Services | |
| Tata Communications Ltd | 1.43% |
| Vodafone Idea Ltd | 0.32% |
| Construction | |
| Larsen & Toubro Ltd | 1.55% |
| Aerospace & Defense | |
| Hindustan Aeronautics Ltd | 1.47% |
| Transport Infrastructure | |
| Adani Ports and Special Economic Zone Ltd | 1.45% |
| Realty | |
| DLF Ltd | 1.44% |
| Electrical Equipment | |
| ABB India Ltd | 1.44% |
| Food Products | |
| Britannia Industries Ltd | 1.38% |
| Healthcare Services | |
| Syngene International Ltd | 1.38% |
| Insurance | |
| SBI Life Insurance Company Ltd | 1.30% |
| Consumer Durables | |
| Dixon Technologies (India) Ltd | 0.81% |
| Metals & Minerals Trading | |
| Adani Enterprises Ltd | 0.70% |
| Beverages | |
| United Spirits Ltd | 0.54% |
| United Breweries Ltd | 0.03% |
| Gas | |
| Petronet LNG Ltd | 0.20% |
| Capital Markets | |
| Multi Commodity Exchange of India Ltd | 0.09% |
| Personal Products | |
| Dabur India Ltd | 0.04% |
| Equity Holding Total | 75.94% |
| Equity Futures | |
| United Breweries Ltd September 2023 Future | -0.03% |
| Dabur India Ltd September 2023 Future | -0.04% |
| Multi Commodity Exchange of India Ltd September 2023 Future | -0.09% |
| Bajaj Auto Ltd September 2023 Future | -0.09% |
| Mahindra & Mahindra Ltd September 2023 Future | -0.20% |
| Petronet LNG Ltd September 2023 Future | -0.20% |
| Info Edge (India) Ltd September 2023 Future | -0.26% |
| Vodafone Idea Ltd September 2023 Future | -0.33% |
| Indiamart Intermesh Ltd September 2023 Future | -0.34% |
| Biocon Ltd September 2023 Future | -0.34% |
| HCL Technologies Ltd September 2023 Future | -0.46% |
| PVR INOX Ltd September 2023 Future | -0.52% |
| United Spirits Ltd September 2023 Future | -0.54% |
| Hindustan Petroleum Corporation Ltd September 2023 Future | -0.57% |
| National Aluminium Company Ltd September 2023 Future | -0.57% |
| Adani Enterprises Ltd September 2023 Future | -0.71% |
| Dixon Technologies (India) Ltd September 2023 Future | -0.82% |
| RBL Bank Ltd September 2023 Future | -0.85% |
| Dr. Reddy's Laboratories Ltd September 2023 Future | -0.89% |
| Shree Cement Ltd September 2023 Future | -0.94% |
| Zee Entertainment Enterprises Ltd September 2023 Future | -0.96% |
| Power Finance Corporation Ltd September 2023 Future | -1.07% |
| Steel Authority of India Ltd September 2023 Future | -1.11% |
| Aurobindo Pharma Ltd September 2023 Future | -1.13% |
| UPL Ltd September 2023 Future | -1.24% |
| Sun TV Network Ltd September 2023 Future | -1.25% |
| Tata Motors Ltd September 2023 Future | -1.29% |
| SBI Cards and Payment Services Ltd September 2023 Future | -1.29% |
| Reliance Industries Ltd September 2023 Future | -1.30% |
| SBI Life Insurance Company Ltd September 2023 Future | -1.31% |
| IndusInd Bank Ltd September 2023 Future | -1.31% |
| Eicher Motors Ltd September 2023 Future | -1.31% |
| Axis Bank Ltd September 2023 Future | -1.32% |
| Kotak Mahindra Bank Ltd September 2023 Future | -1.32% |
| JK Cement Ltd September 2023 Future | -1.32% |
| Hindalco Industries Ltd September 2023 Future | -1.33% |
| Polycab India Ltd September 2023 Future | -1.34% |
| Shriram Finance Ltd September 2023 Future | -1.34% |
| Maruti Suzuki India Ltd September 2023 Future | -1.35% |
| ICICI Bank Ltd September 2023 Future | -1.35% |
| Wipro Ltd September 2023 Future | -1.36% |
| Trent Ltd September 2023 Future | -1.37% |
| Bandhan Bank Ltd September 2023 Future | -1.37% |
| UltraTech Cement Ltd September 2023 Future | -1.38% |
| ACC Ltd September 2023 Future | -1.38% |
| Syngene International Ltd September 2023 Future | -1.39% |
| Tech Mahindra Ltd September 2023 Future | -1.39% |
| Britannia Industries Ltd September 2023 Future | -1.39% |
| Infosys Ltd September 2023 Future | -1.40% |
| Jindal Steel & Power Ltd September 2023 Future | -1.40% |
| Tata Communications Ltd September 2023 Future | -1.44% |
| State Bank of India September 2023 Future | -1.45% |
| ABB India Ltd September 2023 Future | -1.45% |
| DLF Ltd September 2023 Future | -1.45% |
| Adani Ports and Special Economic Zone Ltd September 2023 Future | -1.46% |
| The Federal Bank Ltd September 2023 Future | -1.48% |
| Hindustan Aeronautics Ltd September 2023 Future | -1.48% |
| Zydus Lifesciences Ltd September 2023 Future | -1.52% |
| Larsen & Toubro Ltd September 2023 Future | -1.56% |
| Ambuja Cements Ltd September 2023 Future | -1.59% |
| HDFC Bank Ltd September 2023 Future | -1.67% |
| Bharat Forge Ltd September 2023 Future | -1.70% |
| Tata Steel Ltd September 2023 Future | -1.84% |
| Bank of Baroda September 2023 Future | -1.85% |
| Sun Pharmaceutical Industries Ltd September 2023 Future | -1.89% |
| Indiabulls Housing Finance Ltd September 2023 Future | -2.30% |
| PI Industries Ltd September 2023 Future | -2.47% |
| Equity Futures Total | -76.43% |
| Treasury Bill | |
| 182 Days Tbill (07/09/2023) | 1.31% |
| 364 Days Tbill (14/09/2023) | 1.31% |
| 364 Days Tbill (28/09/2023) | 1.31% |
| 364 Days Tbill (12/10/2023) | 1.30% |
| 182 Days Tbill (21/12/2023) | 1.29% |
| 364 Days Tbill (28/12/2023) | 1.28% |
| 364 Days Tbill (26/01/2024) | 1.28% |
| Treasury Bill Total | 9.07% |
| Government Bond | |
| 6.18% GOI (04/11/2024) | 3.90% |
| Government Bond Total | 3.90% |
| Certificate of Deposit | |
| HDFC Bank Ltd (14/12/2023) # | 1.29% |
| Certificate of Deposit Total | 1.29% |
| Cash & Other Receivables Total | 86.23% |
| Total | 100.00% |
| Returns (in%) | ||||
| 1 Yr | 3 Yrs | SI | ||
| MAAF | 6.47% | 4.50% | 4.38% | |
| Scheme Benchmark* | 6.99% | 4.85% | 4.58% | |
| Additional Benchmark** | 6.39% | 4.49% | 4.42% | |
| NAV as on 31st August, 2023 | ₹ 11.469 | |||
| Index Value (31st August, 2023) | Index Value of Scheme benchmark is 2,196.74 and CRISIL 1 Year T-Bill is 6,813.44 |
|||
| 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-August-2023 |
SI |
3,80,000 | 4,12,212 |
3 Yrs |
3,60,000 | 3,89,310 |
1 Yr |
1,20,000 | 1,24,458 |
Returns (%) |
Period |
||
SI |
3yrs |
1yr |
|
Fund Return& (%) |
5.08 | 5.15 | 6.97 |
Benchmark Return& (%) |
5.50 | 5.58 | 7.65 |
Add. Benchmark Return& (%) |
5.03 | 5.10 | 6.83 |
& The SIP returns are calculated by XIRR approach assuming investment of ₹ 10,000/- on the 1st working day of every month.
| Portfolio Turnover Ratio | 24.72 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 August, 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.