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 November 30, 2022 | 371.44 |
| Net AUM (₹ Cr.) |
367.98 |
| Monthly Avg. Expense Ratio (Including Statutory Levies) as on November 30, 2022 |
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. | |
| NAV: | Direct | Regular |
| Growth | ₹ 11.078 | ₹ 10.891 |
| IDCW^ | ₹ 11.070 | ₹ 10.890 |
| Portfolio Turnover Ratio | 12.08 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 30th November, 2022. ^Basis last rolling 12 months. |
|
Weighted Average Maturity |
0.71 Years |
Modified Duration |
0.66 Years |
Macaulay Duration |
0.70 Years |
Yield to Maturity |
6.50% |
| Portfolio Holdings | % Allocation |
| Pharmaceuticals & Biotechnology | |
| Sun Pharmaceutical Industries Ltd | 3.06% |
| Biocon Ltd | 1.41% |
| Cipla Ltd | 1.15% |
| Laurus Labs Ltd | 0.06% |
| IT - Software | |
| Infosys Ltd | 1.68% |
| HCL Technologies Ltd | 1.39% |
| Tata Consultancy Services Ltd | 1.22% |
| Tech Mahindra Ltd | 1.12% |
| Insurance | |
| SBI Life Insurance Company Ltd | 2.33% |
| Max Financial Services Ltd | 1.61% |
| ICICI Prudential Life Insurance Company Ltd | 1.26% |
| Entertainment | |
| Sun TV Network Ltd | 3.93% |
| Zee Entertainment Enterprises Ltd | 1.16% |
| Banks | |
| HDFC Bank Ltd | 2.64% |
| Bandhan Bank Ltd | 1.88% |
| Kotak Mahindra Bank Ltd | 0.44% |
| IndusInd Bank Ltd | 0.07% |
| Telecom - Services | |
| Bharti Airtel Ltd | 2.72% |
| Tata Communications Ltd | 1.55% |
| Cement & Cement Products | |
| Ambuja Cements Ltd | 1.59% |
| UltraTech Cement Ltd | 1.44% |
| Dalmia Bharat Ltd | 0.84% |
| Transport Infrastructure | |
| Adani Ports and Special Economic Zone Ltd | 3.53% |
| Automobiles | |
| Bajaj Auto Ltd | 1.45% |
| Maruti Suzuki India Ltd | 1.39% |
| Tata Motors Ltd | 0.10% |
| Petroleum Products | |
| Reliance Industries Ltd | 1.48% |
| Indian Oil Corporation Ltd | 1.38% |
| Chemicals & Petrochemicals | |
| SRF Ltd | 1.40% |
| Tata Chemicals Ltd | 1.27% |
| Oil | |
| Oil & Natural Gas Corporation Ltd | 2.52% |
| Capital Markets | |
| Multi Commodity Exchange of India Ltd | 1.27% |
| Indian Energy Exchange Ltd | 0.96% |
| Non - Ferrous Metals | |
| Hindalco Industries Ltd | 1.36% |
| National Aluminium Company Ltd | 0.61% |
| Hindustan Copper Ltd | 0.07% |
| Industrial Products | |
| Polycab India Ltd | 1.40% |
| Astral Ltd | 0.49% |
| Electrical Equipment | |
| Siemens Ltd | 1.87% |
| Consumer Durables | |
| Titan Company Ltd | 1.84% |
| Fertilizers & Agrochemicals | |
| PI Industries Ltd | 1.00% |
| UPL Ltd | 0.84% |
| Power | |
| Tata Power Company Ltd | 1.65% |
| Beverages | |
| United Spirits Ltd | 1.09% |
| United Breweries Ltd | 0.42% |
| Ferrous Metals | |
| Tata Steel Ltd | 1.49% |
| Personal Products | |
| Marico Ltd | 1.39% |
| Diversified FMCG | |
| ITC Ltd | 1.37% |
| Food Products | |
| Nestle India Ltd | 1.14% |
| Aerospace & Defense | |
| Hindustan Aeronautics Ltd | 0.57% |
| Bharat Electronics Ltd | 0.50% |
| Finance | |
| Piramal Enterprises Ltd | 0.78% |
| REC Ltd | 0.26% |
| Realty | |
| Godrej Properties Ltd | 0.58% |
| Agricultural, Commercial & Construction Vehicles | |
| Ashok Leyland Ltd | 0.51% |
| Equity Holding Total | 72.57% |
| Equity Futures | |
| Laurus Labs Ltd December 2022 Future | -0.06% |
| Hindustan Copper Ltd December 2022 Future | -0.07% |
| IndusInd Bank Ltd December 2022 Future | -0.07% |
| Tata Motors Ltd December 2022 Future | -0.10% |
| REC Ltd December 2022 Future | -0.27% |
| United Breweries Ltd December 2022 Future | -0.43% |
| Kotak Mahindra Bank Ltd December 2022 Future | -0.45% |
| Astral Ltd December 2022 Future | -0.50% |
| Bharat Electronics Ltd December 2022 Future | -0.51% |
| Ashok Leyland Ltd December 2022 Future | -0.51% |
| Hindustan Aeronautics Ltd December 2022 Future | -0.57% |
| Godrej Properties Ltd December 2022 Future | -0.58% |
| National Aluminium Company Ltd December 2022 Future | -0.62% |
| Piramal Enterprises Ltd December 2022 Future | -0.79% |
| UPL Ltd December 2022 Future | -0.84% |
| Dalmia Bharat Ltd December 2022 Future | -0.85% |
| Indian Energy Exchange Ltd December 2022 Future | -0.97% |
| PI Industries Ltd December 2022 Future | -1.00% |
| United Spirits Ltd December 2022 Future | -1.10% |
| Tech Mahindra Ltd December 2022 Future | -1.13% |
| Nestle India Ltd December 2022 Future | -1.15% |
| Cipla Ltd December 2022 Future | -1.15% |
| Zee Entertainment Enterprises Ltd December 2022 Future | -1.18% |
| Tata Consultancy Services Ltd December 2022 Future | -1.23% |
| ICICI Prudential Life Insurance Company Ltd December 2022 Future | -1.27% |
| Tata Chemicals Ltd December 2022 Future | -1.28% |
| Multi Commodity Exchange of India Ltd December 2022 Future | -1.28% |
| Hindalco Industries Ltd December 2022 Future | -1.36% |
| ITC Ltd December 2022 Future | -1.39% |
| Indian Oil Corporation Ltd December 2022 Future | -1.39% |
| Marico Ltd December 2022 Future | -1.40% |
| HCL Technologies Ltd December 2022 Future | -1.40% |
| Maruti Suzuki India Ltd December 2022 Future | -1.40% |
| SRF Ltd December 2022 Future | -1.40% |
| Polycab India Ltd December 2022 Future | -1.41% |
| Biocon Ltd December 2022 Future | -1.43% |
| UltraTech Cement Ltd December 2022 Future | -1.45% |
| Bajaj Auto Ltd December 2022 Future | -1.46% |
| Reliance Industries Ltd December 2022 Future | -1.49% |
| Tata Steel Ltd December 2022 Future | -1.50% |
| Tata Communications Ltd December 2022 Future | -1.57% |
| Ambuja Cements Ltd December 2022 Future | -1.61% |
| Max Financial Services Ltd December 2022 Future | -1.62% |
| Tata Power Company Ltd December 2022 Future | -1.66% |
| Infosys Ltd December 2022 Future | -1.69% |
| Titan Company Ltd December 2022 Future | -1.85% |
| Siemens Ltd December 2022 Future | -1.88% |
| Bandhan Bank Ltd December 2022 Future | -1.89% |
| SBI Life Insurance Company Ltd December 2022 Future | -2.34% |
| Oil & Natural Gas Corporation Ltd December 2022 Future | -2.54% |
| HDFC Bank Ltd December 2022 Future | -2.67% |
| Bharti Airtel Ltd December 2022 Future | -2.73% |
| Sun Pharmaceutical Industries Ltd December 2022 Future | -3.08% |
| Adani Ports and Special Economic Zone Ltd December 2022 Future | -3.56% |
| Sun TV Network Ltd December 2022 Future | -3.96% |
| Equity Futures Total | -73.08% |
| Government Bond | |
| 6.84% GOI (19/12/2022) | 8.15% |
| 6.18% GOI (04/11/2024) | 4.03% |
| Government Bond Total | 12.18% |
| Treasury Bill | |
| 364 Days Tbill (17/08/2023) | 1.30% |
| 364 Days Tbill (28/09/2023) | 1.29% |
| 364 Days Tbill (12/10/2023) | 1.28% |
| Treasury Bill Total | 3.87% |
| Cash & Other Receivables Total | 84.46% |
| Total | 100.00% |
| Returns (in%) | ||||
| 1 Yr | SI | |||
| MAAF | 3.54% |
3.55% |
||
| Scheme Benchmark* | 3.97% |
3.62% |
||
| Additional Benchmark** | 3.74% |
3.66% |
||
| NAV as on 30th November, 2022 | ₹ 10.891 | |||
| Index Value (30th November, 2022) | Index Value of Scheme benchmark is 2,076.59 and CRISIL 1 Year T-Bill is 6,479.76 |
|||
| 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. 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 30-November-2022 |
SI |
290,000 |
303,467 |
1 Yr |
120,000 |
122,477 |
Returns (%) |
Period |
|
SI |
1yr |
|
Fund Return& (%) |
3.68 |
3.86 |
Benchmark Return& (%) |
3.94 |
4.01 |
Add. Benchmark Return& (%) |
3.75 |
4.21 |
& 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