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 April 30, 2023 | 315.44 |
| Net AUM (₹ Cr.) |
314.80 |
| Monthly Avg. Expense Ratio (Including Statutory Levies) as on April 30, 2023 |
Regular Plan: 0.97% Direct Plan: 0.27% |
| **For experience of Fund Managers Click Here | |
| # 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 | |
| NAV: | Direct | Regular |
| Growth | ₹ 11.427 | ₹ 11.201 |
| IDCW | ₹ 11.415 | ₹ 11.200 |
| Period | Total Amount Invested | Mkt Value as on 28-April-2023 |
SI |
340,000 |
362,935 |
1 Yr |
120,000 |
123,795 |
Returns (%) |
Period |
|
SI |
1yr |
|
Fund Return& (%) |
4.57 |
6.03 |
Benchmark Return& (%) |
4.93 |
6.51 |
Add. Benchmark Return& (%) |
4.62 |
6.38 |
& The SIP returns are calculated by XIRR approach assuming investment of ₹ 10,000/- on the 1st working day of every month.
| Portfolio Holdings | % Allocation |
| Banks | |
| Kotak Mahindra Bank Ltd | 3.25% |
| HDFC Bank Ltd | 1.74% |
| IndusInd Bank Ltd | 1.65% |
| ICICI Bank Ltd | 1.63% |
| Axis Bank Ltd | 0.13% |
| Automobiles | |
| TVS Motor Company Ltd | 2.18% |
| Tata Motors Limited | 1.73% |
| Mahindra & Mahindra Limited | 1.72% |
| Maruti Suzuki India Ltd | 1.64% |
| Cement & Cement Products | |
| Grasim Industries Ltd | 2.02% |
| Ambuja Cements Limited | 1.77% |
| Dalmia Bharat Limited | 1.74% |
| UltraTech Cement Limited | 1.61% |
| IT - Software | |
| Infosys Ltd | 1.91% |
| Tech Mahindra Limited | 1.72% |
| Tata Consultancy Services Ltd | 1.65% |
| HCL Technologies Limited | 1.02% |
| Pharmaceuticals & Biotechnology | |
| Sun Pharmaceutical Industries Ltd | 2.53% |
| Cipla Limited | 1.87% |
| Zydus Lifesciences Limited | 0.56% |
| Ferrous Metals | |
| Tata Steel Ltd | 1.94% |
| Steel Authority of India Limited | 1.56% |
| JSW Steel Limited | 1.40% |
| Telecom - Services | |
| Bharti Airtel Ltd | 1.71% |
| Tata Communications Limited | 1.69% |
| Indus Towers Limited | 0.68% |
| Power | |
| NTPC Ltd | 1.53% |
| Tata Power Company Limited | 1.29% |
| Fertilizers & Agrochemicals | |
| UPL Limited | 1.62% |
| PI Industries Limited | 1.02% |
| Consumer Durables | |
| Crompton Greaves Consumer Electricals Limited | 1.51% |
| Voltas Ltd | 1.10% |
| Insurance | |
| SBI Life Insurance Company Limited | 1.71% |
| ICICI Lombard General Insurance Company Limited | 0.60% |
| Entertainment | |
| Zee Entertainment Enterprises Ltd | 1.74% |
| Sun TV Network Limited | 0.56% |
| Aerospace & Defense | |
| Hindustan Aeronautics Limited | 1.78% |
| Auto Components | |
| Exide Industries Limited | 1.77% |
| Realty | |
| DLF Limited | 1.68% |
| Electrical Equipment | |
| ABB India Limited | 1.66% |
| Petroleum Products | |
| Reliance Industries Ltd | 1.65% |
| Construction | |
| Larsen & Toubro Ltd | 1.64% |
| Beverages | |
| United Spirits Limited | 1.62% |
| Diversified FMCG | |
| Hindustan Unilever Ltd | 1.55% |
| Finance | |
| Piramal Enterprises Limited | 1.36% |
| Agricultural, Commercial & Construction Vehicles | |
| Ashok Leyland Limited | 1.27% |
| Healthcare Services | |
| Metropolis Healthcare Limited | 0.95% |
| Capital Markets | |
| Multi Commodity Exchange of India Limited | 0.80% |
| Non - Ferrous Metals | |
| Hindalco Industries Limited | 0.06% |
| Equity Holding Total | 73.52% |
| Equity Futures | |
| Hindalco Industries Ltd May 2023 Future | -0.06% |
| Axis Bank Ltd May 2023 Future | -0.13% |
| Sun TV Network Ltd May 2023 Future | -0.56% |
| Zydus Lifesciences Ltd May 2023 Future | -0.57% |
| ICICI Lombard General Insurance Company Ltd May 2023 Future | -0.60% |
| Indus Towers Ltd May 2023 Future | -0.67% |
| Multi Commodity Exchange of India Ltd May 2023 Future | -0.81% |
| Metropolis Healthcare Ltd May 2023 Future | -0.96% |
| HCL Technologies Ltd May 2023 Future | -1.02% |
| PI Industries Ltd May 2023 Future | -1.03% |
| Voltas Ltd May 2023 Future | -1.10% |
| Ashok Leyland Ltd May 2023 Future | -1.28% |
| Tata Power Company Ltd May 2023 Future | -1.30% |
| Piramal Enterprises Ltd May 2023 Future | -1.37% |
| JSW Steel Ltd May 2023 Future | -1.41% |
| Crompton Greaves Consumer Electricals Ltd May 2023 Future | -1.52% |
| NTPC Ltd May 2023 Future | -1.53% |
| Hindustan Unilever Ltd May 2023 Future | -1.55% |
| Steel Authority of India Ltd May 2023 Future | -1.57% |
| UltraTech Cement Ltd May 2023 Future | -1.62% |
| UPL Ltd May 2023 Future | -1.63% |
| United Spirits Ltd May 2023 Future | -1.63% |
| ICICI Bank Ltd May 2023 Future | -1.64% |
| Maruti Suzuki India Ltd May 2023 Future | -1.65% |
| Larsen & Toubro Ltd May 2023 Future | -1.65% |
| Tata Consultancy Services Ltd May 2023 Future | -1.65% |
| IndusInd Bank Ltd May 2023 Future | -1.66% |
| Reliance Industries Ltd May 2023 Future | -1.66% |
| ABB India Ltd May 2023 Future | -1.66% |
| DLF Ltd May 2023 Future | -1.68% |
| Tata Communications Ltd May 2023 Future | -1.71% |
| Bharti Airtel Ltd May 2023 Future | -1.72% |
| SBI Life Insurance Company Ltd May 2023 Future | -1.72% |
| Mahindra & Mahindra Ltd May 2023 Future | -1.73% |
| Tech Mahindra Ltd May 2023 Future | -1.73% |
| HDFC Bank Ltd May 2023 Future | -1.73% |
| Tata Motors Ltd May 2023 Future | -1.75% |
| Dalmia Bharat Ltd May 2023 Future | -1.75% |
| Zee Entertainment Enterprises Ltd May 2023 Future | -1.76% |
| Exide Industries Ltd May 2023 Future | -1.78% |
| Ambuja Cements Ltd May 2023 Future | -1.78% |
| Hindustan Aeronautics Ltd May 2023 Future | -1.79% |
| Cipla Ltd May 2023 Future | -1.89% |
| Infosys Ltd May 2023 Future | -1.92% |
| Tata Steel Ltd May 2023 Future | -1.96% |
| Grasim Industries Ltd May 2023 Future | -2.04% |
| TVS Motor Company Ltd May 2023 Future | -2.19% |
| Sun Pharmaceutical Industries Ltd May 2023 Future | -2.54% |
| Kotak Mahindra Bank Ltd June 2023 Future | -3.28% |
| Equity Futures Total | -73.91% |
| Treasury Bill | |
| 364 Days Tbill (15/06/2023) | 1.58% |
| 364 Days Tbill (22/06/2023) | 1.57% |
| 364 Days Tbill (17/08/2023) | 1.56% |
| 182 Days Tbill (07/09/2023) | 1.55% |
| 364 Days Tbill (14/09/2023) | 1.55% |
| 364 Days Tbill (28/09/2023) | 1.54% |
| 364 Days Tbill (12/10/2023) | 1.54% |
| Treasury Bill Total | 10.89% |
| Government Bond | |
| 6.18% GOI (04/11/2024) | 4.72% |
| Government Bond Total | 4.72% |
| Certificate of Deposit | |
| Canara Bank (30/08/2023) ** # | 1.55% |
| Certificate of Deposit Total | 1.55% |
| Cash & Other Receivables Total | 83.23% |
| Total | 100.00% |
| Returns (in%) | ||||
| 1 Yr | SI | |||
| MAAF | 5.06% |
4.05% |
||
| Scheme Benchmark* | 5.51% |
4.20% |
||
| Additional Benchmark** | 4.99% |
4.14% |
||
| NAV as on 28th April, 2023 | ₹ 11.201 | |||
| Index Value (28th April, 2023) | Index Value of Scheme benchmark is 2,141.10 and CRISIL 1 Year T-Bill is 6,663.08 |
|||
| 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
Average Maturity |
0.64 Years |
Modified Duration |
0.60 Years |
Macaulay Duration |
0.62 Years |
Annualized Portfolio YTM* |
6.93% |
*In case of semi annual YTM, it will be annualized.
| Portfolio Turnover Ratio | 23.16 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 April, 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.