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 February 28, 2023 | 330.33 |
| Net AUM (₹ Cr.) |
332.60 |
| Monthly Avg. Expense Ratio (Including Statutory Levies) as on February 28, 2023 |
Regular Plan: 1.10% Direct Plan: 0.35% |
| **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. # As per notice cum addendum no. 03/2023 fund manager of the scheme has changed. Please visit the website for more details: https://www.miraeassetmf.co.in/downloads/statutory-disclosure/addendum |
|
| Portfolio Holdings | % Allocation |
Banks |
|
State Bank of India |
1.53% |
Axis Bank Ltd |
1.52% |
ICICI Bank Ltd |
1.51% |
HDFC Bank Ltd |
1.45% |
Kotak Mahindra Bank Ltd |
1.43% |
IndusInd Bank Ltd |
1.37% |
IT - Software |
|
Tata Consultancy Services Ltd |
1.62% |
Coforge Ltd |
1.47% |
Infosys Ltd |
1.43% |
HCL Technologies Ltd |
1.22% |
Tech Mahindra Ltd |
0.46% |
Ferrous Metals |
|
Tata Steel Ltd |
1.77% |
JSW Steel Ltd |
1.52% |
Steel Authority of India Ltd |
1.47% |
Jindal Steel & Power Ltd |
1.34% |
Pharmaceuticals & Biotechnology |
|
Cipla Ltd |
1.72% |
Biocon Ltd |
1.51% |
Sun Pharmaceutical Industries Ltd |
1.47% |
Zydus Lifesciences Ltd |
0.98% |
Automobiles |
|
Mahindra & Mahindra Ltd |
2.54% |
Maruti Suzuki India Ltd |
1.48% |
Tata Motors Ltd |
1.42% |
Cement & Cement Products |
|
Ambuja Cements Ltd |
1.52% |
Grasim Industries Ltd |
1.47% |
Dalmia Bharat Ltd |
1.16% |
UltraTech Cement Ltd |
0.74% |
ACC Ltd |
0.48% |
Entertainment |
|
Sun TV Network Ltd |
3.79% |
Petroleum Products |
|
Hindustan Petroleum Corporation Ltd |
1.75% |
Reliance Industries Ltd |
1.69% |
Finance |
|
Housing Development Finance Corporation Ltd |
1.48% |
Piramal Enterprises Ltd |
1.35% |
REC Ltd |
0.60% |
Consumer Durables |
|
Crompton Greaves Consumer Electricals Ltd |
1.66% |
Titan Company Ltd |
1.50% |
Asian Paints Ltd |
0.02% |
Power |
|
Tata Power Company Ltd |
1.52% |
NTPC Ltd |
1.49% |
Telecom - Services |
|
Tata Communications Ltd |
1.53% |
Bharti Airtel Ltd |
1.44% |
Industrial Products |
|
Bharat Forge Ltd |
1.50% |
Astral Ltd |
1.47% |
Fertilizers & Agrochemicals |
|
UPL Ltd |
1.52% |
PI Industries Ltd |
0.61% |
Insurance |
|
ICICI Lombard General Insurance Company Ltd |
1.31% |
SBI Life Insurance Company Ltd |
0.48% |
Aerospace & Defense |
|
Hindustan Aeronautics Ltd |
1.56% |
Construction |
|
Larsen & Toubro Ltd |
1.48% |
Non - Ferrous Metals |
|
Hindalco Industries Ltd |
1.48% |
Diversified FMCG |
|
Hindustan Unilever Ltd |
1.46% |
Chemicals & Petrochemicals |
|
Tata Chemicals Ltd |
1.42% |
Beverages |
|
United Spirits Ltd |
1.35% |
Agricultural, Commercial & Construction Vehicles |
|
Ashok Leyland Ltd |
1.18% |
Agricultural Food & other Products |
|
Tata Consumer Products Ltd |
1.01% |
Minerals & Mining |
|
NMDC Ltd |
0.27% |
Capital Markets |
|
Multi Commodity Exchange of India Ltd |
0.03% |
Equity Holding Total |
75.56% |
Equity Futures |
|
Asian Paints Ltd March 2023 Future |
-0.02% |
Multi Commodity Exchange of India Ltd March 2023 Future |
-0.03% |
NMDC Ltd March 2023 Future |
-0.27% |
Tech Mahindra Ltd March 2023 Future |
-0.46% |
SBI Life Insurance Company Ltd March 2023 Future |
-0.48% |
ACC Ltd March 2023 Future |
-0.49% |
REC Ltd March 2023 Future |
-0.61% |
PI Industries Ltd March 2023 Future |
-0.61% |
UltraTech Cement Ltd March 2023 Future |
-0.75% |
Zydus Lifesciences Ltd March 2023 Future |
-0.99% |
Tata Consumer Products Ltd March 2023 Future |
-1.01% |
Dalmia Bharat Ltd March 2023 Future |
-1.16% |
Ashok Leyland Ltd March 2023 Future |
-1.19% |
HCL Technologies Ltd March 2023 Future |
-1.23% |
ICICI Lombard General Insurance Company Ltd March 2023 Future |
-1.31% |
Jindal Steel & Power Ltd March 2023 Future |
-1.35% |
Piramal Enterprises Ltd March 2023 Future |
-1.36% |
United Spirits Ltd March 2023 Future |
-1.36% |
IndusInd Bank Ltd March 2023 Future |
-1.38% |
Tata Motors Ltd March 2023 Future |
-1.43% |
Tata Chemicals Ltd March 2023 Future |
-1.43% |
Infosys Ltd March 2023 Future |
-1.44% |
Kotak Mahindra Bank Ltd March 2023 Future |
-1.44% |
Bharti Airtel Ltd March 2023 Future |
-1.45% |
HDFC Bank Ltd March 2023 Future |
-1.46% |
Hindustan Unilever Ltd March 2023 Future |
-1.47% |
Grasim Industries Ltd March 2023 Future |
-1.47% |
Coforge Ltd March 2023 Future |
-1.48% |
Astral Ltd March 2023 Future |
-1.48% |
Steel Authority of India Ltd March 2023 Future |
-1.48% |
Sun Pharmaceutical Industries Ltd March 2023 Future |
-1.48% |
Maruti Suzuki India Ltd March 2023 Future |
-1.49% |
Hindalco Industries Ltd March 2023 Future |
-1.49% |
HDFC Ltd March 2023 Future |
-1.49% |
Larsen & Toubro Ltd March 2023 Future |
-1.49% |
NTPC Ltd March 2023 Future |
-1.50% |
Bharat Forge Ltd March 2023 Future |
-1.51% |
Titan Company Ltd March 2023 Future |
-1.51% |
Biocon Ltd March 2023 Future |
-1.52% |
ICICI Bank Ltd March 2023 Future |
-1.52% |
JSW Steel Ltd March 2023 Future |
-1.53% |
Tata Power Company Ltd March 2023 Future |
-1.53% |
Ambuja Cements Ltd March 2023 Future |
-1.53% |
UPL Ltd March 2023 Future |
-1.53% |
Tata Communications Ltd March 2023 Future |
-1.53% |
Axis Bank Ltd March 2023 Future |
-1.53% |
State Bank of India March 2023 Future |
-1.54% |
Hindustan Aeronautics Ltd March 2023 Future |
-1.56% |
Tata Consultancy Services Ltd March 2023 Future |
-1.63% |
Crompton Greaves Consumer Electricals Ltd March 2023 Future |
-1.67% |
Reliance Industries Ltd March 2023 Future |
-1.70% |
Cipla Ltd March 2023 Future |
-1.73% |
Hindustan Petroleum Corporation Ltd March 2023 Future |
-1.76% |
Tata Steel Ltd March 2023 Future |
-1.78% |
Mahindra & Mahindra Ltd March 2023 Future |
-2.55% |
Sun TV Network Ltd March 2023 Future |
-3.80% |
Equity Futures Total |
-75.98% |
Treasury Bill |
|
364 Days Tbill (01/06/2023) |
2.96% |
364 Days Tbill (15/06/2023) |
1.47% |
364 Days Tbill (22/06/2023) |
1.47% |
364 Days Tbill (17/08/2023) |
1.45% |
364 Days Tbill (14/09/2023) |
1.45% |
364 Days Tbill (28/09/2023) |
1.44% |
364 Days Tbill (12/10/2023) |
1.44% |
Treasury Bill Total |
11.68% |
Government Bond |
|
6.18% GOI (04/11/2024) |
4.43% |
Government Bond Total |
4.43% |
Cash & Other Receivables Total |
84.31% |
Total |
100.00% |
| NAV: | Direct | Regular |
| Growth | ₹ 11.280 | ₹ 11.070 |
| IDCW^ | ₹ 11.270 | ₹ 11.069 |
| Returns (in%) | ||||
| 1 Yr | SI | |||
| MAAF | 4.30% |
3.84% |
||
| Scheme Benchmark* | 4.57% |
3.93% |
||
| Additional Benchmark** | 4.27% |
3.83% |
||
| NAV as on 28th February, 2023 | ₹ 11.070 | |||
| Index Value (28th February, 2023) | Index Value of Scheme benchmark is 2,112.21 and CRISIL 1 Year T-Bill is 6,566.86 |
|||
| 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
| Portfolio Turnover Ratio | 22.76 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 28th February, 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.
Average Maturity |
0.76 Years |
Modified Duration |
0.72 Years |
Macaulay Duration |
0.75 Years |
Annualized Portfolio YTM* |
7.19% |
*In case of semi annual YTM, it will be annualized.
| Period | Total Amount Invested | Mkt Value as on 28-February-2023 |
SI |
320,000 |
338,755 |
1 Yr |
120,000 |
123,267 |
Returns (%) |
Period |
|
SI |
1yr |
|
Fund Return& (%) |
4.21 |
5.13 |
Benchmark Return& (%) |
4.48 |
5.34 |
Add. Benchmark Return& (%) |
4.05 |
4.86 |
& The SIP returns are calculated by XIRR approach assuming investment of ₹ 10,000/- on the 1st working day of every month.