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. Mahendra Jajoo (Debt portion) (since June 19, 2020) |
| 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 May 31, 2022 | 403.62 |
| Net AUM (₹ Cr.) |
405.13 |
| Monthly Avg. Expense Ratio (Including Statutory Levies) as on May 31, 2022 |
Regular Plan: 1.09% Direct Plan: 0.37% |
| **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. | |
| NAV: | Direct | Regular |
| Growth | ₹ 10.834 | ₹ 10.690 |
| IDCW^ | ₹ 10.830 | ₹ 10.689 |
| Portfolio Turnover Ratio | 15.61 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 May, 2022. ^Basis last rolling 12 months. |
|
Weighted Average Maturity |
0.76 Years |
Modified Duration |
0.71 Years |
Macaulay Duration |
0.75 Years |
Yield to Maturity |
5.52% |
| New Position Bought |
| Stock |
| Agricultural, Commercial & Construction Vehicles |
| Escorts Limited |
| Automobiles |
| TVS Motor Company Limited |
| Banks |
| State Bank of India |
| Cement & Cement Products |
| UltraTech Cement Limited |
| Diversified FMCG |
| ITC Limited |
| Ferrous Metals |
| Tata Steel Limited |
| Fertilizers & Agrochemicals |
| PI Industries Limited |
| Finance |
| Bajaj Finance Limited |
| Housing Development Finance Corporation Limited |
| IDFC Limited |
| SBI Cards and Payment Services Limited |
| Insurance |
| ICICI Prudential Life Insurance Company Limited |
| Max Financial Services Limited |
| SBI Life Insurance Company Limited |
| IT - Software |
| Tata Consultancy Services Limited |
| Pharmaceuticals & Biotechnology |
| Cipla Limited |
| Divi's Laboratories Limited |
| Sun Pharmaceutical Industries Limited |
| Torrent Pharmaceuticals Limited |
| Positions Exited |
| Stock |
| Aerospace & Defense |
| Hindustan Aeronautics Limited |
| Banks |
| Kotak Mahindra Bank Limited |
| Beverages |
| United Breweries Limited |
| Cement & Cement Products |
| Ambuja Cements Limited |
| Chemicals & Petrochemicals |
| Deepak Nitrite Limited |
| Pidilite Industries Limited |
| Rain Industries Limited |
| Tata Chemicals Limited |
| Consumer Durables |
| Whirlpool of India Limited |
| Entertainment |
| PVR Limited |
| Fertilizers & Agrochemicals |
| UPL Limited |
| Finance |
| Power Finance Corporation Limited |
| Shriram Transport Finance Company Limited |
| IT - Services |
| L&T Technology Services Limited |
| IT - Software |
| Coforge Limited |
| Intellect Design Arena Limited |
| MindTree Limited |
| Tech Mahindra Limited |
| Leisure Services |
| The Indian Hotels Company Limited |
| Non - Ferrous Metals |
| Hindustan Copper Limited |
| Personal Products |
| Colgate Palmolive (India) Limited |
| Pharmaceuticals & Biotechnology |
| Abbott India Limited |
| Zydus Lifesciences Limited |
| Realty |
| DLF Limited |
| Telecom - Services |
| Tata Communications Limited |
| Portfolio Holdings | % Allocation | |
| Banks | ||
| HDFC Bank Ltd | 2.94% | |
| Bandhan Bank Limited | 2.04% | |
| ICICI Bank Ltd | 1.53% | |
| State Bank of India | 1.47% | |
| Axis Bank Ltd | 1.42% | |
| City Union Bank Limited | 1.16% | |
| IT - Software | ||
| Infosys Ltd | 3.63% | |
| Tata Consultancy Services Ltd | 1.82% | |
| Wipro Ltd | 1.24% | |
| HCL Technologies Limited | 0.92% | |
| Insurance | ||
| SBI Life Insurance Company Limited | 2.33% | |
| ICICI Prudential Life Insurance Company Limited | 2.28% | |
| Aditya Birla Capital Limited | 0.88% | |
| HDFC Life Insurance Company Ltd | 0.62% | |
| Max Financial Services Ltd | 0.24% | |
| Entertainment | ||
| Sun TV Network Limited | 3.23% | |
| Zee Entertainment Enterprises Ltd | 2.45% | |
| Automobiles | ||
| Tata Motors Limited | 2.86% | |
| TVS Motor Company Ltd | 1.58% | |
| Maruti Suzuki India Ltd | 0.65% | |
| Hero MotoCorp Limited | 0.45% | |
| Pharmaceuticals & Biotechnology | ||
| Cipla Limited | 1.55% | |
| Sun Pharmaceutical Industries Ltd | 0.97% | |
| Torrent Pharmaceuticals Ltd | 0.82% | |
| Divi's Laboratories Ltd | 0.56% | |
| Biocon Ltd | 0.44% | |
| Telecom - Services | ||
| Bharti Airtel Ltd | 4.01% | |
| Finance | ||
| Bajaj Finance Limited | 1.26% | |
| Housing Development Finance Corporation Ltd | 1.08% | |
| Muthoot Finance Limited | 1.04% | |
| IDFC Limited | 0.06% | |
| SBI Cards and Payment Services Limited | 0.03% | |
| Diversified FMCG | ||
| Hindustan Unilever Ltd | 1.85% | |
| ITC Ltd | 1.33% | |
| Transport Infrastructure | ||
| Adani Ports and Special Economic Zone Limited | 2.69% | |
| Aerospace & Defense | ||
| Bharat Electronics Ltd | 2.16% | |
| Petroleum Products | ||
| Reliance Industries Ltd | 2.10% | |
| Chemicals & Petrochemicals | ||
| SRF Limited | 1.96% | |
| Retailing | ||
| Trent Limited | 1.93% | |
| Capital Markets | ||
| Multi Commodity Exchange of India Limited | 1.88% | |
| Cement & Cement Products | ||
| Dalmia Bharat Limited | 1.35% | |
| UltraTech Cement Limited | 0.26% | |
| Non - Ferrous Metals | ||
| Hindalco Industries Limited | 1.46% | |
| Agricultural, Commercial & Construction Vehicles | ||
| Escorts Limited | 1.37% | |
| Realty | ||
| Oberoi Realty Limited | 1.23% | |
| Leisure Services | ||
| Delta Corp Limited | 1.17% | |
| Food Products | ||
| Britannia Industries Ltd | 0.58% | |
| Nestle India Limited | 0.17% | |
| Construction | ||
| Larsen & Toubro Ltd | 0.63% | |
| Electrical Equipment | ||
| Siemens Limited | 0.63% | |
| Ferrous Metals | ||
| Tata Steel Ltd | 0.62% | |
| Personal Products | ||
| Dabur India Ltd | 0.26% | |
| Consumer Durables | ||
| Titan Company Ltd | 0.10% | |
| Fertilizers & Agrochemicals | ||
| PI Industries Limited | 0.03% | |
| Equity Holding Total | 73.28% | |
| Equity Futures | ||
| SBI Cards and Payment Services Ltd June 2022 Future | -0.03% | |
| PI Industries Ltd June 2022 Future | -0.03% | |
| IDFC Ltd June 2022 Future | -0.06% | |
| Titan Company Ltd July 2022 Future | -0.10% | |
| Nestle India Ltd June 2022 Future | -0.18% | |
| Max Financial Services Ltd June 2022 Future | -0.24% | |
| UltraTech Cement Ltd June 2022 Future | -0.26% | |
| Dabur India Ltd June 2022 Future | -0.26% | |
| Zee Entertainment Enterprises Ltd June 2022 Future | -0.32% | |
| Biocon Ltd June 2022 Future | -0.44% | |
| Hero MotoCorp Ltd June 2022 Future | -0.45% | |
| Divi's Laboratories Ltd June 2022 Future | -0.56% | |
| Britannia Industries Ltd June 2022 Future | -0.57% | |
| Tata Steel Ltd June 2022 Future | -0.59% | |
| HDFC Life Insurance Company Ltd June 2022 Future | -0.62% | |
| Siemens Ltd June 2022 Future | -0.63% | |
| Larsen & Toubro Ltd June 2022 Future | -0.63% | |
| Maruti Suzuki India Ltd June 2022 Future | -0.65% | |
| Torrent Pharmaceuticals Ltd June 2022 Future | -0.82% | |
| Aditya Birla Capital Ltd June 2022 Future | -0.88% | |
| HCL Technologies Ltd June 2022 Future | -0.92% | |
| Sun Pharmaceutical Industries Ltd June 2022 Future | -0.97% | |
| Muthoot Finance Ltd June 2022 Future | -1.04% | |
| Housing Development Finance Corporation Ltd June 2022 Future | -1.08% | |
| City Union Bank Ltd June 2022 Future | -1.16% | |
| Delta Corp Ltd June 2022 Future | -1.17% | |
| Oberoi Realty Ltd June 2022 Future | -1.23% | |
| Wipro Ltd June 2022 Future | -1.24% | |
| Bajaj Finance Ltd June 2022 Future | -1.25% | |
| ITC Ltd June 2022 Future | -1.33% | |
| Dalmia Bharat Ltd June 2022 Future | -1.35% | |
| Escorts Ltd June 2022 Future | -1.37% | |
| Axis Bank Ltd June 2022 Future | -1.42% | |
| Hindalco Industries Ltd June 2022 Future | -1.46% | |
| State Bank of India June 2022 Future | -1.47% | |
| ICICI Bank Ltd June 2022 Future | -1.53% | |
| Cipla Ltd June 2022 Future | -1.55% | |
| TVS Motor Company Ltd June 2022 Future | -1.58% | |
| Tata Consultancy Services Ltd June 2022 Future | -1.82% | |
| Hindustan Unilever Ltd June 2022 Future | -1.83% | |
| Multi Commodity Exchange of India Ltd June 2022 Future | -1.89% | |
| Trent Ltd June 2022 Future | -1.94% | |
| SRF Ltd June 2022 Future | -1.96% | |
| Bandhan Bank Ltd June 2022 Future | -2.05% | |
| Reliance Industries Ltd July 2022 Future | -2.10% | |
| Zee Entertainment Enterprises Ltd July 2022 Future | -2.13% | |
| Bharat Electronics Ltd June 2022 Future | -2.16% | |
| ICICI Prudential Life Insurance Company Ltd June 2022 Future | -2.28% | |
| SBI Life Insurance Company Ltd June 2022 Future | -2.33% | |
| Adani Ports and Special Economic Zone Ltd June 2022 Future | -2.69% | |
| Tata Motors Ltd June 2022 Future | -2.86% | |
| HDFC Bank Ltd June 2022 Future | -2.94% | |
| Sun TV Network Ltd June 2022 Future | -3.23% | |
| Infosys Ltd June 2022 Future | -3.64% | |
| Bharti Airtel Ltd June 2022 Future | -4.02% | |
| Equity Futures Total | -73.32% | |
| Government Bond | ||
| 6.84% GOI (19/12/2022) | 7.46% | |
| 6.18% GOI (04/11/2024) | 3.68% | |
| 3.96% GOI (09/11/2022) | 3.67% | |
| Government Bond Total | 14.80% | |
| Treasury Bill | ||
| 364 Days Tbill (19/08/2022) | 2.44% | |
| 364 Days Tbill (04/08/2022) | 1.22% | |
| 364 Days Tbill (11/08/2022) | 1.22% | |
| 364 Days Tbill (25/08/2022) | 1.22% | |
| Treasury Bill Total | 6.11% | |
| Cash & Other Receivables Total | 79.14% | |
| Total | 100.00% | |
| Returns (in%) | ||||
| 1 Yr | SI | |||
| MAAF | 3.52% |
3.48% |
||
| Scheme Benchmark* | 3.73% |
3.61% |
||
| Additional Benchmark** | 2.78% |
3.23% |
||
| NAV as on 31st May, 2022 | 10.690 | |||
| Index Value (31st May, 2022) | Index Value of Scheme benchmark is 2,039.86 and CRISIL 1 Year T-Bill is 6,312.24 | |||
| 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. Mahendra Jajoo (Debt Portion) (since June 19, 2020)
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-May-2022 |
SI |
230,000 |
238,252 |
1 Yr |
120,000 |
122,225 |
Returns (%) |
Period |
|
SI |
1yr |
|
Fund Return& (%) |
3.59 |
3.47 |
Benchmark Return& (%) |
4.07 |
4.03 |
Add. Benchmark Return& (%) |
2.83 |
2.12 |
& 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