ಆರ್ಬಿಟ್ರೇಜ್ ಫಂಡ್‌ಗಳು ಯಾವುವು?

Updated on November 2, 2025 , 2529 views

ಆರ್ಬಿಟ್ರೇಜ್ ಎನ್ನುವುದು ಲಾಭ ಗಳಿಸಲು ವಿವಿಧ ಮಾರುಕಟ್ಟೆಗಳ ಬೆಲೆ ವ್ಯತ್ಯಾಸಗಳ ಲಾಭವನ್ನು ಪಡೆಯುವ ತಂತ್ರವಾಗಿದೆ. ಆರ್ಬಿಟ್ರೇಜ್ ಫಂಡ್‌ಗಳನ್ನು ಅವರು ಬಳಸುವ ಆರ್ಬಿಟ್ರೇಜ್ ತಂತ್ರದ ನಂತರ ಹೆಸರಿಸಲಾಗಿದೆ. ಅವು ಒಂದು ವಿಧಮ್ಯೂಚುಯಲ್ ಫಂಡ್ ಅದು ಆದಾಯವನ್ನು ಉತ್ಪಾದಿಸಲು ಬೆಲೆ ವ್ಯತ್ಯಾಸದ ಮೇಲೆ ಹತೋಟಿಗೆ ತರುತ್ತದೆ. ಈ ನಿಧಿಗಳ ಆದಾಯವು ಹೂಡಿಕೆ ಮಾಡಿದ ಆಸ್ತಿಯ ಚಂಚಲತೆಯನ್ನು ಅವಲಂಬಿಸಿರುತ್ತದೆಮಾರುಕಟ್ಟೆ. ಅವರು ತಮ್ಮ ಹೂಡಿಕೆದಾರರಿಗೆ ಆದಾಯವನ್ನು ಗಳಿಸಲು ಮಾರುಕಟ್ಟೆಯ ಅಸಮರ್ಥತೆಯನ್ನು ಬಳಸಿಕೊಳ್ಳುತ್ತಾರೆ.

ಅಸಮ ಬೆಲೆಗಳನ್ನು ಬಳಸಿಕೊಳ್ಳುವುದು ಆರ್ಬಿಟ್ರೇಜ್ ಫಂಡ್‌ಗಳ ಕೇಂದ್ರ ಕಲ್ಪನೆಯಾಗಿದೆ. ಆದಾಯವನ್ನು ಉತ್ತಮಗೊಳಿಸಲು ಆರ್ಬಿಟ್ರೇಜ್ ನಿಧಿಗಳು ಕಡಿಮೆ-ಅಪಾಯದ ಖರೀದಿ ಮತ್ತು ಮಾರಾಟದ ಅವಕಾಶಗಳನ್ನು ಬಳಸುತ್ತವೆ. ಉದಾಹರಣೆಗೆ, XYZ Co. LTD ನ ಷೇರುಗಳು ನಗದು ಮಾರುಕಟ್ಟೆಯಲ್ಲಿ ಪ್ರತಿ INR 500 ರಂತೆ ಮತ್ತು INR 1 ನಲ್ಲಿ ವಹಿವಾಟು ನಡೆಸುತ್ತಿವೆ.000 ಭವಿಷ್ಯದ ಮಾರುಕಟ್ಟೆಯಲ್ಲಿ. ನಗದು ಮಾರುಕಟ್ಟೆಯಿಂದ ಷೇರುಗಳನ್ನು ಖರೀದಿಸುವ ಮೂಲಕ ಮತ್ತು ಭವಿಷ್ಯದ ಮಾರುಕಟ್ಟೆಯಲ್ಲಿ ಷೇರುಗಳನ್ನು ಮಾರಾಟ ಮಾಡುವ ಮೂಲಕ ಪ್ರತಿ ಷೇರಿಗೆ INR 500 ಲಾಭವನ್ನು ಗಳಿಸುತ್ತದೆ.

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ನೀವು ಆರ್ಬಿಟ್ರೇಜ್ ಫಂಡ್‌ಗಳಲ್ಲಿ ಏಕೆ ಹೂಡಿಕೆ ಮಾಡಬೇಕು?

ಅವುಗಳಲ್ಲಿ ಕೆಲವು ಇಲ್ಲಿವೆಹೂಡಿಕೆಯ ಪ್ರಯೋಜನಗಳು ಮಧ್ಯಸ್ಥಿಕೆ ನಿಧಿಗಳಲ್ಲಿ:

ನಗಣ್ಯ ಅಪಾಯ

ಆರ್ಬಿಟ್ರೇಜ್ ನಿಧಿಗಳು 100% ಅಪಾಯ-ಮುಕ್ತವಾಗಿಲ್ಲ ಆದರೆ ಅವುಗಳು ಅತ್ಯಲ್ಪ ಅಪಾಯವನ್ನು ಹೊಂದಿರುತ್ತವೆ. ಅವರುಬ್ಯಾಂಕ್ ಮಾರುಕಟ್ಟೆಯಲ್ಲಿ ನಡೆಯುತ್ತಿರುವ ತಪ್ಪು ಬೆಲೆಯ ಬಗ್ಗೆ. ಇದು ನೀಡುತ್ತದೆಹೂಡಿಕೆದಾರ ಇತರರಿಗೆ ಹೋಲಿಸಿದರೆ ಸುರಕ್ಷಿತ ಆಯ್ಕೆಅಲ್ಪಾವಧಿಯ ನಿಧಿಗಳು ಏಕೆಂದರೆ ಈ ನಿಧಿಗಳು ಮಾರುಕಟ್ಟೆಯ ಏರಿಳಿತದ ಸಮಯದಲ್ಲಿ ಉತ್ತಮ ಆದಾಯವನ್ನು ನೀಡುತ್ತವೆ.

ಹಿಂತಿರುಗಿಸುತ್ತದೆ

ಈ ನಿಧಿಗಳು ಸಾಮಾನ್ಯವಾಗಿ ಹೂಡಿಕೆ ಮಾಡಿದ ಮೊತ್ತದ ಸುಮಾರು 7-9% ನಷ್ಟು ಲಾಭವನ್ನು ನೀಡುತ್ತವೆ. ಗೆ ಹೋಲಿಸಿದರೆ ಇದು ಹೆಚ್ಚುದ್ರವ ನಿಧಿಗಳು ಅಥವಾ ಅಲ್ಪಾವಧಿಸಾಲ ನಿಧಿ. ಹೀಗಾಗಿ, ಆರ್ಬಿಟ್ರೇಜ್ ಫಂಡ್‌ಗಳನ್ನು ಲಾಭದಾಯಕ ಹೂಡಿಕೆಯ ಆಯ್ಕೆಯನ್ನಾಗಿ ಮಾಡುತ್ತದೆ.

ಅನುಕೂಲಕರ ತೆರಿಗೆ

ನ ದೊಡ್ಡ ಪ್ರಯೋಜನಗಳಲ್ಲಿ ಒಂದಾಗಿದೆಹೂಡಿಕೆ ಈ ನಿಧಿಗಳಲ್ಲಿ ತೆರಿಗೆ ಚಿಕಿತ್ಸೆಯಾಗಿದೆ.ಇಕ್ವಿಟಿ ಫಂಡ್‌ಗಳು ದೀರ್ಘಕಾಲ ಆಕರ್ಷಿಸಲುಬಂಡವಾಳ ಲಾಭಗಳು. INR 1 ಲಕ್ಷದವರೆಗೆ ಲಾಭವನ್ನು ಗಳಿಸಿದರೆ ಅದು ತೆರಿಗೆ-ಮುಕ್ತ ಅಡಿಯಲ್ಲಿ ಎಣಿಕೆಯಾಗುತ್ತದೆ. INR 1 ಲಕ್ಷಕ್ಕಿಂತ ಹೆಚ್ಚಿನ ಲಾಭಗಳಿಗೆ 10% ತೆರಿಗೆ ಅನ್ವಯಿಸುತ್ತದೆ.

ಆರ್ಬಿಟ್ರೇಜ್ ಫಂಡ್‌ಗಳಲ್ಲಿ ಹೂಡಿಕೆ ಮಾಡುವುದು ಹೇಗೆ ಎಂಬುದರ ಕುರಿತು ಮಾರ್ಗಸೂಚಿಗಳು

ನಿಧಿ ಮತ್ತು ಅದರ ಕಾರ್ಯತಂತ್ರಗಳ ಬಗ್ಗೆ ಸಂಶೋಧನೆ

ನಿಧಿಯಲ್ಲಿ ಹೂಡಿಕೆ ಮಾಡುವ ಮೊದಲು, ಅದರ ಹಿಂದಿನ ಆದಾಯ, ಕನಿಷ್ಠ ಅಗತ್ಯವಿರುವ ಹೂಡಿಕೆ ಮತ್ತು ಅದರ ತಂತ್ರಗಳನ್ನು ಓದಿ. ಭಾರತದಲ್ಲಿನ ಹೆಚ್ಚಿನ ಆರ್ಬಿಟ್ರೇಜ್ ನಿಧಿಗಳು ಶುದ್ಧ ಆರ್ಬಿಟ್ರೇಜ್ ತಂತ್ರವನ್ನು ಅನುಸರಿಸುತ್ತವೆ. ಆದರೆ ಈ ನಿಧಿಗಳು ವಿಲೀನ/ಅಪಾಯದ ಆರ್ಬಿಟ್ರೇಜ್ (ವಿಲೀನಗಳು ಮತ್ತು ಸ್ವಾಧೀನಗಳನ್ನು ಯಶಸ್ವಿಯಾಗಿ ಪೂರ್ಣಗೊಳಿಸುವುದರ ಕುರಿತು ಊಹಾಪೋಹಗಳು) ಮುಂತಾದ ಕಾರ್ಯತಂತ್ರಗಳನ್ನು ಅನುಸರಿಸುತ್ತವೆ, ಇದು ಸಾಮಾನ್ಯರಿಗೆ ಅರ್ಥಮಾಡಿಕೊಳ್ಳಲು ಸ್ವಲ್ಪ ಸಂಕೀರ್ಣವಾಗಿದೆ. ಆದ್ದರಿಂದ, ನೀವು ಏನನ್ನು ಪಡೆಯುತ್ತಿರುವಿರಿ ಎಂಬುದನ್ನು ತಿಳಿಯಲು ಹೂಡಿಕೆ ಮಾಡುವ ಮೊದಲು ನಿಧಿಯ ಕಾರ್ಯತಂತ್ರದ ಬಗ್ಗೆ ಒಂದು ಕಲ್ಪನೆಯನ್ನು ಪಡೆಯುವುದು ಮುಖ್ಯವಾಗಿದೆ.

ಎಕ್ಸಿಟ್ ಲೋಡ್ ನೀತಿಯನ್ನು ಪರಿಶೀಲಿಸಿ

ಆರ್ಬಿಟ್ರೇಜ್ ನಿಧಿಗಳಿಂದ ಅಕಾಲಿಕ ಹಿಂತೆಗೆದುಕೊಳ್ಳುವಿಕೆಯು ಸಾಮಾನ್ಯವಾಗಿ 0.25-0.5% ನಷ್ಟು ದಂಡ ಅಥವಾ ನಿರ್ಗಮನ ಲೋಡ್ ಅನ್ನು ಆಕರ್ಷಿಸುತ್ತದೆ. ಅನಗತ್ಯ ಪೆನಾಲ್ಟಿಗಳನ್ನು ತಪ್ಪಿಸಲು ಹೂಡಿಕೆ ಮಾಡುವ ಮೊದಲು ನಿಮ್ಮ ಫಂಡ್‌ನ ನಿರ್ಗಮನ ಲೋಡ್ ನೀತಿಯನ್ನು ಪರಿಶೀಲಿಸಿ.

ಆರ್ಬಿಟ್ರೇಜ್ ಮ್ಯೂಚುಯಲ್ ಫಂಡ್‌ಗಳಲ್ಲಿ ಹೂಡಿಕೆ ಮಾಡುವ ಅಪಾಯಗಳು

ವೈವಿಧ್ಯತೆಯ ಕೊರತೆ

ತಮ್ಮ ಇಕ್ವಿಟಿ ಸ್ಥಿತಿಯನ್ನು ಕಾಪಾಡಿಕೊಳ್ಳಲು, ಆರ್ಬಿಟ್ರೇಜ್ ಫಂಡ್‌ಗಳು ಇಕ್ವಿಟಿಯಲ್ಲಿ ಕನಿಷ್ಠ 65% ಬಂಡವಾಳವನ್ನು ನಿರ್ವಹಿಸಬೇಕಾಗುತ್ತದೆ. ಇದು ನಿಧಿಯ ವೈವಿಧ್ಯೀಕರಣದ ಮೇಲೆ ಪರಿಣಾಮ ಬೀರುತ್ತದೆ ಏಕೆಂದರೆ ಅವರು ಸಾಲ ನಿಧಿಗಳಲ್ಲಿ ಹೆಚ್ಚು ಹೂಡಿಕೆ ಮಾಡಲು ಸಾಧ್ಯವಿಲ್ಲ, ಹೀಗಾಗಿ ಹೂಡಿಕೆದಾರರ ಒಟ್ಟಾರೆ ಬಂಡವಾಳದ ಮೇಲೆ ಪರಿಣಾಮ ಬೀರುತ್ತದೆ.

ನಿರ್ಗಮನ ಲೋಡ್‌ಗಳು

ಮೊದಲೇ ಹೇಳಿದಂತೆ, ಈ ನಿಧಿಗಳು ಅಕಾಲಿಕ ಹಿಂತೆಗೆದುಕೊಳ್ಳುವಿಕೆಯ ಮೇಲೆ ನಿರ್ಗಮನ ಹೊರೆಗಳನ್ನು ಹೊಂದಿರುತ್ತವೆ. ಇದು ಸಾಧ್ಯವಾಯಿತುಶ್ರೇಣಿ ಎಲ್ಲಿಯಾದರೂ 0.25-0.50% ಅಲ್ಲದೆ, ದಿವಿಮೋಚನೆ ಹಣವು ಕೆಲವು 1-3 ಕೆಲಸದ ದಿನಗಳನ್ನು ತೆಗೆದುಕೊಳ್ಳುತ್ತದೆ. ಇದು ಪರಿಣಾಮ ಬೀರುತ್ತದೆದ್ರವ್ಯತೆ ನಿಧಿಯ.

ದೀರ್ಘಾವಧಿಗೆ ಸೂಕ್ತವಲ್ಲ

ದೀರ್ಘಾವಧಿಯ ಸಂಪತ್ತು ಸೃಷ್ಟಿಗೆ ಆರ್ಬಿಟ್ರೇಜ್ ನಿಧಿಗಳು ಆಕರ್ಷಕ ಆಯ್ಕೆಯಾಗಿಲ್ಲ. ಆರ್ಬಿಟ್ರೇಜ್ ಅವಕಾಶಗಳು ಸೀಮಿತವಾಗಿರುವುದರಿಂದ, ಲಾಭ ಗಳಿಸಲು ಕೇವಲ ಒಂದು ಸಣ್ಣ ವಿಂಡೋ ಇದೆ. ಅವರ ತಂತ್ರದಿಂದಾಗಿ, ಅವರು ಹೆಚ್ಚಿನ ಬೆಳವಣಿಗೆಯ ಸಾಮರ್ಥ್ಯವನ್ನು ಹೊಂದಿಲ್ಲ. ಹೀಗಾಗಿ, ಅವರನ್ನು ದೀರ್ಘಾವಧಿಗೆ ಅಸ್ವಸ್ಥರನ್ನಾಗಿ ಮಾಡುತ್ತದೆ.

ಟಾಪ್ 10 ಅತ್ಯುತ್ತಮ ಪ್ರದರ್ಶನ ಆರ್ಬಿಟ್ರೇಜ್ ಫಂಡ್‌ಗಳು

ಭಾರತದಲ್ಲಿ ಉತ್ತಮ ಪ್ರದರ್ಶನ ನೀಡುವ ಕೆಲವು ನಿಧಿಗಳು:

Fund	NAV	Net Assets (Cr)	3 MO (%)	6 MO (%)	1 YR (%)	3 YR (%)	5 YR (%)	2024 (%)
Kotak Equity Arbitrage Fund Growth	₹38.1985 ↑ 0.04	₹72,274	1.4	2.8	6.5	7.3	5.9	7.8
SBI Arbitrage Opportunities Fund Growth	₹34.477 ↑ 0.03	₹41,552	1.4	3	6.6	7.3	5.9	7.5
Invesco India Arbitrage Fund Growth	₹32.5382 ↑ 0.03	₹25,150	1.4	2.9	6.5	7.2	5.9	7.6
UTI Arbitrage Fund Growth	₹35.7337 ↑ 0.04	₹9,149	1.4	2.9	6.7	7.2	5.8	7.7
HDFC Arbitrage Fund Growth	₹31.223 ↑ 0.03	₹21,771	1.4	2.8	6.4	7.1	5.7	7.7
Edelweiss Arbitrage Fund Growth	₹19.7538 ↑ 0.02	₹15,931	1.4	2.8	6.5	7.1	5.8	7.7
ICICI Prudential Equity Arbitrage Fund Growth	₹34.9706 ↑ 0.04	₹32,593	1.4	2.8	6.5	7.1	5.8	7.6
Aditya Birla Sun Life Arbitrage Fund Growth	₹27.0752 ↑ 0.03	₹23,581	1.3	2.8	6.5	7.1	5.7	7.5
Bandhan Arbitrage Fund Growth	₹33.0494 ↑ 0.04	₹8,369	1.3	2.7	6.3	7	5.6	7.5
BNP Paribas Arbitrage Fund Growth	₹16.3688 ↑ 0.02	₹1,201	1.4	2.8	6.2	7	5.6	7.5
Note: Returns up to 1 year are on absolute basis & more than 1 year are on CAGR basis. as on 4 Nov 25

Research Highlights & Commentary of 10 Funds showcased

Commentary	Kotak Equity Arbitrage Fund	SBI Arbitrage Opportunities Fund	Invesco India Arbitrage Fund	UTI Arbitrage Fund	HDFC Arbitrage Fund	Edelweiss Arbitrage Fund	ICICI Prudential Equity Arbitrage Fund	Aditya Birla Sun Life Arbitrage Fund	Bandhan Arbitrage Fund	BNP Paribas Arbitrage Fund
Point 1	Highest AUM (₹72,274 Cr).	Top quartile AUM (₹41,552 Cr).	Upper mid AUM (₹25,150 Cr).	Bottom quartile AUM (₹9,149 Cr).	Lower mid AUM (₹21,771 Cr).	Lower mid AUM (₹15,931 Cr).	Upper mid AUM (₹32,593 Cr).	Upper mid AUM (₹23,581 Cr).	Bottom quartile AUM (₹8,369 Cr).	Bottom quartile AUM (₹1,201 Cr).
Point 2	Oldest track record among peers (20 yrs).	Established history (19+ yrs).	Established history (18+ yrs).	Established history (19+ yrs).	Established history (18+ yrs).	Established history (11+ yrs).	Established history (18+ yrs).	Established history (16+ yrs).	Established history (18+ yrs).	Established history (8+ yrs).
Point 3	Rating: 4★ (top quartile).	Rating: 2★ (bottom quartile).	Rating: 3★ (upper mid).	Rating: 3★ (upper mid).	Rating: 3★ (lower mid).	Top rated.	Rating: 4★ (upper mid).	Rating: 3★ (lower mid).	Rating: 1★ (bottom quartile).	Not Rated.
Point 4	Risk profile: Moderately Low.	Risk profile: Moderately Low.	Risk profile: Moderately Low.	Risk profile: Moderately Low.	Risk profile: Moderately Low.	Risk profile: Moderately Low.	Risk profile: Moderate.	Risk profile: Moderate.	Risk profile: Moderately Low.	Risk profile: Moderately High.
Point 5	5Y return: 5.94% (top quartile).	5Y return: 5.91% (top quartile).	5Y return: 5.90% (upper mid).	5Y return: 5.76% (upper mid).	5Y return: 5.70% (bottom quartile).	5Y return: 5.78% (upper mid).	5Y return: 5.75% (lower mid).	5Y return: 5.70% (lower mid).	5Y return: 5.62% (bottom quartile).	5Y return: 5.57% (bottom quartile).
Point 6	3Y return: 7.29% (top quartile).	3Y return: 7.26% (top quartile).	3Y return: 7.21% (upper mid).	3Y return: 7.19% (upper mid).	3Y return: 7.14% (upper mid).	3Y return: 7.13% (lower mid).	3Y return: 7.12% (lower mid).	3Y return: 7.08% (bottom quartile).	3Y return: 7.05% (bottom quartile).	3Y return: 6.99% (bottom quartile).
Point 7	1Y return: 6.54% (upper mid).	1Y return: 6.59% (top quartile).	1Y return: 6.51% (upper mid).	1Y return: 6.65% (top quartile).	1Y return: 6.43% (bottom quartile).	1Y return: 6.47% (lower mid).	1Y return: 6.53% (upper mid).	1Y return: 6.48% (lower mid).	1Y return: 6.34% (bottom quartile).	1Y return: 6.20% (bottom quartile).
Point 8	1M return: 0.58% (lower mid).	1M return: 0.56% (bottom quartile).	1M return: 0.61% (top quartile).	1M return: 0.59% (upper mid).	1M return: 0.54% (bottom quartile).	1M return: 0.59% (upper mid).	1M return: 0.56% (bottom quartile).	1M return: 0.57% (lower mid).	1M return: 0.58% (upper mid).	1M return: 0.62% (top quartile).
Point 9	Alpha: 0.00 (top quartile).	Alpha: 0.00 (top quartile).	Alpha: 0.00 (upper mid).	Alpha: 0.00 (upper mid).	Alpha: 0.00 (upper mid).	Alpha: -0.22 (bottom quartile).	Alpha: 0.00 (lower mid).	Alpha: 0.00 (lower mid).	Alpha: 0.00 (bottom quartile).	Alpha: 0.00 (bottom quartile).
Point 10	Sharpe: 1.09 (top quartile).	Sharpe: 0.87 (upper mid).	Sharpe: 0.77 (lower mid).	Sharpe: 1.12 (top quartile).	Sharpe: 0.64 (lower mid).	Sharpe: 0.64 (bottom quartile).	Sharpe: 0.92 (upper mid).	Sharpe: 0.88 (upper mid).	Sharpe: 0.42 (bottom quartile).	Sharpe: -0.06 (bottom quartile).

Kotak Equity Arbitrage Fund

Highest AUM (₹72,274 Cr).
Oldest track record among peers (20 yrs).
Rating: 4★ (top quartile).
Risk profile: Moderately Low.
5Y return: 5.94% (top quartile).
3Y return: 7.29% (top quartile).
1Y return: 6.54% (upper mid).
1M return: 0.58% (lower mid).
Alpha: 0.00 (top quartile).
Sharpe: 1.09 (top quartile).

SBI Arbitrage Opportunities Fund

Top quartile AUM (₹41,552 Cr).
Established history (19+ yrs).
Rating: 2★ (bottom quartile).
Risk profile: Moderately Low.
5Y return: 5.91% (top quartile).
3Y return: 7.26% (top quartile).
1Y return: 6.59% (top quartile).
1M return: 0.56% (bottom quartile).
Alpha: 0.00 (top quartile).
Sharpe: 0.87 (upper mid).

Invesco India Arbitrage Fund

Upper mid AUM (₹25,150 Cr).
Established history (18+ yrs).
Rating: 3★ (upper mid).
Risk profile: Moderately Low.
5Y return: 5.90% (upper mid).
3Y return: 7.21% (upper mid).
1Y return: 6.51% (upper mid).
1M return: 0.61% (top quartile).
Alpha: 0.00 (upper mid).
Sharpe: 0.77 (lower mid).

UTI Arbitrage Fund

Bottom quartile AUM (₹9,149 Cr).
Established history (19+ yrs).
Rating: 3★ (upper mid).
Risk profile: Moderately Low.
5Y return: 5.76% (upper mid).
3Y return: 7.19% (upper mid).
1Y return: 6.65% (top quartile).
1M return: 0.59% (upper mid).
Alpha: 0.00 (upper mid).
Sharpe: 1.12 (top quartile).

HDFC Arbitrage Fund

Lower mid AUM (₹21,771 Cr).
Established history (18+ yrs).
Rating: 3★ (lower mid).
Risk profile: Moderately Low.
5Y return: 5.70% (bottom quartile).
3Y return: 7.14% (upper mid).
1Y return: 6.43% (bottom quartile).
1M return: 0.54% (bottom quartile).
Alpha: 0.00 (upper mid).
Sharpe: 0.64 (lower mid).

Edelweiss Arbitrage Fund

Lower mid AUM (₹15,931 Cr).
Established history (11+ yrs).
Top rated.
Risk profile: Moderately Low.
5Y return: 5.78% (upper mid).
3Y return: 7.13% (lower mid).
1Y return: 6.47% (lower mid).
1M return: 0.59% (upper mid).
Alpha: -0.22 (bottom quartile).
Sharpe: 0.64 (bottom quartile).

ICICI Prudential Equity Arbitrage Fund

Upper mid AUM (₹32,593 Cr).
Established history (18+ yrs).
Rating: 4★ (upper mid).
Risk profile: Moderate.
5Y return: 5.75% (lower mid).
3Y return: 7.12% (lower mid).
1Y return: 6.53% (upper mid).
1M return: 0.56% (bottom quartile).
Alpha: 0.00 (lower mid).
Sharpe: 0.92 (upper mid).

Aditya Birla Sun Life Arbitrage Fund

Upper mid AUM (₹23,581 Cr).
Established history (16+ yrs).
Rating: 3★ (lower mid).
Risk profile: Moderate.
5Y return: 5.70% (lower mid).
3Y return: 7.08% (bottom quartile).
1Y return: 6.48% (lower mid).
1M return: 0.57% (lower mid).
Alpha: 0.00 (lower mid).
Sharpe: 0.88 (upper mid).

Bandhan Arbitrage Fund

Bottom quartile AUM (₹8,369 Cr).
Established history (18+ yrs).
Rating: 1★ (bottom quartile).
Risk profile: Moderately Low.
5Y return: 5.62% (bottom quartile).
3Y return: 7.05% (bottom quartile).
1Y return: 6.34% (bottom quartile).
1M return: 0.58% (upper mid).
Alpha: 0.00 (bottom quartile).
Sharpe: 0.42 (bottom quartile).

BNP Paribas Arbitrage Fund

Bottom quartile AUM (₹1,201 Cr).
Established history (8+ yrs).
Not Rated.
Risk profile: Moderately High.
5Y return: 5.57% (bottom quartile).
3Y return: 6.99% (bottom quartile).
1Y return: 6.20% (bottom quartile).
1M return: 0.62% (top quartile).
Alpha: 0.00 (bottom quartile).
Sharpe: -0.06 (bottom quartile).

*ಮೇಲೆ ಅತ್ಯುತ್ತಮ ಪಟ್ಟಿ ಇದೆಮಧ್ಯಸ್ಥಿಕೆ ನಿಧಿಗಳು ಮೇಲಿನ AUM/ನಿವ್ವಳ ಸ್ವತ್ತುಗಳನ್ನು ಹೊಂದಿವೆ500 ಕೋಟಿ. ವಿಂಗಡಿಸಲಾಗಿದೆಕಳೆದ 3 ವರ್ಷದ ರಿಟರ್ನ್.

1. Kotak Equity Arbitrage Fund

The investment objective of the scheme is to generate capital appreciation and income by predominantly investing in arbitrage opportunities in the cash and derivatives segment of the equity market, and by investing the balance in debt and money market instruments. However, there is no assurance that the objective of the scheme will be realized

Research Highlights for Kotak Equity Arbitrage Fund

Highest AUM (₹72,274 Cr).
Oldest track record among peers (20 yrs).
Rating: 4★ (top quartile).
Risk profile: Moderately Low.
5Y return: 5.94% (top quartile).
3Y return: 7.29% (top quartile).
1Y return: 6.54% (upper mid).
1M return: 0.58% (lower mid).
Alpha: 0.00 (top quartile).
Sharpe: 1.09 (top quartile).
Information ratio: 0.00 (top quartile).
Top sector: Financial Services.
Top bond sector: Cash Equivalent.
Conservative stance with elevated cash (~96%).
High-quality debt (AAA/AA ~100%).
Largest holding Kotak Money Market Dir Gr (~11.4%).

Below is the key information for Kotak Equity Arbitrage Fund

Kotak Equity Arbitrage Fund Growth
Launch Date	29 Sep 05
NAV (04 Nov 25)	₹38.1985 ↑ 0.04 (0.11 %)
Net Assets (Cr)	₹72,274 on 31 Aug 25
Category	Hybrid - Arbitrage
AMC	Kotak Mahindra Asset Management Co Ltd
Rating	☆☆☆☆
Risk	Moderately Low
Expense Ratio	0.97
Sharpe Ratio	1.09
Information Ratio	0
Alpha Ratio	0
Min Investment	5,000
Min SIP Investment	500
Exit Load	0-30 Days (0.25%),30 Days and above(NIL)

Growth of 10,000 investment over the years.

Date	Value
31 Oct 20	₹10,000
31 Oct 21	₹10,385
31 Oct 22	₹10,798
31 Oct 23	₹11,599
31 Oct 24	₹12,494
31 Oct 25	₹13,306

Kotak Equity Arbitrage Fund SIP Returns

Total investment amount is ₹300,000
expected amount after 5 Years is ₹349,120.
Net Profit of ₹49,120 Invest Now

Returns for Kotak Equity Arbitrage Fund

Returns up to 1 year are on absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 4 Nov 25

Duration	Returns
1 Month	0.6%
3 Month	1.4%
6 Month	2.8%
1 Year	6.5%
3 Year	7.3%
5 Year	5.9%
10 Year
15 Year
Since launch	6.9%

Historical performance (Yearly) on absolute basis

Year	Returns
2024	7.8%
2023	7.4%
2022	4.5%
2021	4%
2020	4.3%
2019	6.1%
2018	6.3%
2017	5.8%
2016	6.7%
2015	7.5%

Fund Manager information for Kotak Equity Arbitrage Fund

Name	Since	Tenure
Hiten Shah	3 Oct 19	6 Yr.

Data below for Kotak Equity Arbitrage Fund as on 31 Aug 25

Asset Allocation

Asset Class	Value
Cash	95.5%
Debt	4.94%
Other	0.04%

Equity Sector Allocation

Sector	Value
Financial Services	23.54%
Consumer Cyclical	10.59%
Basic Materials	9.99%
Industrials	7.36%
Energy	5.72%
Health Care	4.68%
Consumer Defensive	4.52%
Technology	4.41%
Utility	3.76%
Communication Services	3.01%
Real Estate	1.81%

Debt Sector Allocation

Sector	Value
Cash Equivalent	86.05%
Corporate	10.01%
Government	4.33%
Securitized	0.07%

Credit Quality

Rating	Value
AAA	100%

Top Securities Holdings / Portfolio

Name	Holding	Value	Quantity
Kotak Money Market Dir Gr Investment Fund \| -	11%	₹8,169 Cr	17,707,373 ↓ -1,311,896
Kotak Savings Fund Dir Gr Investment Fund \| -	5%	₹3,626 Cr	794,103,737
HDFC Bank Ltd.-OCT2025 Derivatives \| -	4%	-₹2,828 Cr	29,577,900 ↑ 15,563,900
HDFC Bank Ltd (Financial Services) Equity, Since 30 Apr 22 \| HDFCBANK	4%	₹2,813 Cr	29,577,900 ↓ -1,646,700
ICICI Bank Ltd.-OCT2025 Derivatives \| -	4%	-₹2,564 Cr	18,884,600 ↑ 14,616,000
ICICI Bank Ltd (Financial Services) Equity, Since 31 Dec 19 \| ICICIBANK	4%	₹2,546 Cr	18,884,600 ↑ 1,641,500
RELIANCE INDUSTRIES LTD.-OCT2025 Derivatives \| -	3%	-₹2,460 Cr	17,912,000 ↑ 15,023,000
Reliance Industries Ltd (Energy) Equity, Since 31 May 18 \| RELIANCE	3%	₹2,452 Cr	17,974,500 ↓ -1,148,000
ETERNAL LIMITED-OCT2025 Derivatives \| -	3%	-₹1,825 Cr	55,658,600 ↑ 55,658,600
Eternal Ltd (Consumer Cyclical) Equity, Since 30 Nov 24 \| 543320	3%	₹1,812 Cr	55,658,600 ↑ 8,540,850

2. SBI Arbitrage Opportunities Fund

To provide capital appreciation and regular income for unitholders by identifying profitable arbitrage opportunities between the spot and derivative market segments as also through investment of surplus cash in debt and money market instruments.

Research Highlights for SBI Arbitrage Opportunities Fund

Top quartile AUM (₹41,552 Cr).
Established history (19+ yrs).
Rating: 2★ (bottom quartile).
Risk profile: Moderately Low.
5Y return: 5.91% (top quartile).
3Y return: 7.26% (top quartile).
1Y return: 6.59% (top quartile).
1M return: 0.56% (bottom quartile).
Alpha: 0.00 (top quartile).
Sharpe: 0.87 (upper mid).
Information ratio: 0.00 (top quartile).
Top sector: Financial Services.
Top bond sector: Cash Equivalent.
Conservative stance with elevated cash (~92%).
High-quality debt (AAA/AA ~100%).
Largest holding SBI Savings Dir Gr (~8.4%).

Below is the key information for SBI Arbitrage Opportunities Fund

SBI Arbitrage Opportunities Fund Growth
Launch Date	3 Nov 06
NAV (04 Nov 25)	₹34.477 ↑ 0.03 (0.10 %)
Net Assets (Cr)	₹41,552 on 31 Aug 25
Category	Hybrid - Arbitrage
AMC	SBI Funds Management Private Limited
Rating	☆☆
Risk	Moderately Low
Expense Ratio	0.95
Sharpe Ratio	0.87
Information Ratio	0
Alpha Ratio	0
Min Investment	5,000
Min SIP Investment	500
Exit Load	0-1 Months (0.5%),1 Months and above(NIL)

Growth of 10,000 investment over the years.

Date	Value
31 Oct 20	₹10,000
31 Oct 21	₹10,388
31 Oct 22	₹10,795
31 Oct 23	₹11,608
31 Oct 24	₹12,473
31 Oct 25	₹13,292

SBI Arbitrage Opportunities Fund SIP Returns

Total investment amount is ₹300,000
expected amount after 5 Years is ₹349,120.
Net Profit of ₹49,120 Invest Now

Returns for SBI Arbitrage Opportunities Fund

Returns up to 1 year are on absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 4 Nov 25

Duration	Returns
1 Month	0.6%
3 Month	1.4%
6 Month	3%
1 Year	6.6%
3 Year	7.3%
5 Year	5.9%
10 Year
15 Year
Since launch	6.7%

Historical performance (Yearly) on absolute basis

Year	Returns
2024	7.5%
2023	7.4%
2022	4.6%
2021	4%
2020	3.5%
2019	6%
2018	6.2%
2017	5.3%
2016	6.4%
2015	7.3%

Fund Manager information for SBI Arbitrage Opportunities Fund

Name	Since	Tenure
Neeraj Kumar	5 Oct 12	13 Yr.
Ardhendu Bhattacharya	27 Dec 24	0.76 Yr.

Data below for SBI Arbitrage Opportunities Fund as on 31 Aug 25

Asset Allocation

Asset Class	Value
Cash	91.72%
Debt	8.68%
Other	0.04%

Equity Sector Allocation

Sector	Value
Financial Services	25.87%
Industrials	6.28%
Consumer Cyclical	6.26%
Basic Materials	6.25%
Technology	5.56%
Energy	5.44%
Consumer Defensive	4.22%
Health Care	3.86%
Communication Services	3.12%
Utility	2.59%
Real Estate	1.42%

Debt Sector Allocation

Sector	Value
Cash Equivalent	86.07%
Corporate	10.55%
Government	3.65%
Securitized	0.14%

Credit Quality

Rating	Value
AA	0.61%
AAA	99.39%

Top Securities Holdings / Portfolio

Name	Holding	Value	Quantity
SBI Savings Dir Gr Investment Fund \| -	8%	₹3,289 Cr	726,722,883
Future on HDFC Bank Ltd Derivatives \| -	7%	-₹2,575 Cr	26,923,600 ↑ 807,400
HDFC Bank Ltd (Financial Services) Equity, Since 30 Apr 22 \| HDFCBANK	7%	₹2,560 Cr	26,923,600 ↑ 807,400
Future on ICICI Bank Ltd Derivatives \| -	5%	-₹1,907 Cr	14,036,400 ↑ 13,985,300
ICICI Bank Ltd (Financial Services) Equity, Since 30 Jun 21 \| ICICIBANK	5%	₹1,892 Cr	14,036,400 ↑ 443,800
SBI Liquid Dir Gr Investment Fund \| -	3%	₹1,117 Cr	2,671,146
SBI Magnum Low Duration Dir Gr Investment Fund \| -	3%	₹1,074 Cr	2,904,125
Future on Reliance Industries Ltd Derivatives \| -	3%	-₹1,071 Cr	7,792,000 ↑ 1,110,000
Reliance Industries Ltd (Energy) Equity, Since 30 Nov 21 \| RELIANCE	3%	₹1,063 Cr	7,792,000 ↑ 1,110,000
Future on Tata Consultancy Services Ltd Derivatives \| -	2%	-₹844 Cr	2,913,400 ↓ -105,175

3. Invesco India Arbitrage Fund

The primary investment objective of the scheme is to generate income through arbitrage opportunities emerging out of mis-pricing between the cash market and the derivatives market and through deployment of surplus cash in fixed income instruments.

Research Highlights for Invesco India Arbitrage Fund

Upper mid AUM (₹25,150 Cr).
Established history (18+ yrs).
Rating: 3★ (upper mid).
Risk profile: Moderately Low.
5Y return: 5.90% (upper mid).
3Y return: 7.21% (upper mid).
1Y return: 6.51% (upper mid).
1M return: 0.61% (top quartile).
Alpha: 0.00 (upper mid).
Sharpe: 0.77 (lower mid).
Information ratio: 0.00 (upper mid).
Top sector: Financial Services.
Higher exposure to Cash Equivalent (bond sector) vs peer median.
Conservative stance with elevated cash (~96%).
High-quality debt (AAA/AA ~100%).
Largest holding Invesco India Money Market Dir Gr (~6.0%).

Below is the key information for Invesco India Arbitrage Fund

Invesco India Arbitrage Fund Growth
Launch Date	30 Apr 07
NAV (04 Nov 25)	₹32.5382 ↑ 0.03 (0.11 %)
Net Assets (Cr)	₹25,150 on 31 Aug 25
Category	Hybrid - Arbitrage
AMC	Invesco Asset Management (India) Private Ltd
Rating	☆☆☆
Risk	Moderately Low
Expense Ratio	1.06
Sharpe Ratio	0.77
Information Ratio	0
Alpha Ratio	0
Min Investment	5,000
Min SIP Investment	500
Exit Load	0-15 Days (0.5%),15 Days and above(NIL)

Growth of 10,000 investment over the years.

Date	Value
31 Oct 20	₹10,000
31 Oct 21	₹10,334
31 Oct 22	₹10,801
31 Oct 23	₹11,603
31 Oct 24	₹12,481
31 Oct 25	₹13,288

Invesco India Arbitrage Fund SIP Returns

Total investment amount is ₹300,000
expected amount after 5 Years is ₹349,120.
Net Profit of ₹49,120 Invest Now

Returns for Invesco India Arbitrage Fund

Returns up to 1 year are on absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 4 Nov 25

Duration	Returns
1 Month	0.6%
3 Month	1.4%
6 Month	2.9%
1 Year	6.5%
3 Year	7.2%
5 Year	5.9%
10 Year
15 Year
Since launch	6.6%

Historical performance (Yearly) on absolute basis

Year	Returns
2024	7.6%
2023	7.4%
2022	5.1%
2021	3.5%
2020	4.3%
2019	5.9%
2018	5.9%
2017	5.5%
2016	6.5%
2015	7.6%

Fund Manager information for Invesco India Arbitrage Fund

Name	Since	Tenure
Deepak Gupta	11 Nov 21	3.89 Yr.
Kuber Mannadi	1 Sep 22	3.08 Yr.

Data below for Invesco India Arbitrage Fund as on 31 Aug 25

Asset Allocation

Asset Class	Value
Cash	95.96%
Debt	4.5%
Other	0.04%

Equity Sector Allocation

Sector	Value
Financial Services	28.11%
Consumer Cyclical	10.83%
Basic Materials	7.93%
Energy	7.52%
Industrials	6.73%
Technology	5.66%
Utility	3.91%
Consumer Defensive	3.76%
Health Care	3.11%
Communication Services	2.64%
Real Estate	2.64%

Debt Sector Allocation

Sector	Value
Cash Equivalent	92.7%
Corporate	5.31%
Government	2.47%

Credit Quality

Rating	Value
AA	31.86%
AAA	68.14%

Top Securities Holdings / Portfolio

Name	Holding	Value	Quantity
Invesco India Money Market Dir Gr Investment Fund \| -	6%	₹1,615 Cr	5,036,904
Invesco India Liquid Dir Gr Investment Fund \| -	6%	₹1,553 Cr	4,229,186 ↓ -1,120,155
Future on Reliance Industries Ltd Derivatives \| -	4%	-₹1,182 Cr	8,604,000 ↑ 7,936,000
Reliance Industries Ltd (Energy) Equity, Since 31 Dec 22 \| RELIANCE	4%	₹1,174 Cr	8,604,000 ↑ 972,500
Eternal Limited October 2025 Future Derivatives \| -	4%	-₹1,113 Cr	33,937,875 ↑ 33,578,975
ICICI Bank Ltd (Financial Services) Equity, Since 31 Oct 24 \| ICICIBANK	4%	₹1,109 Cr	8,229,900 ↑ 2,894,500
Eternal Ltd (Consumer Cyclical) Equity, Since 31 May 25 \| 543320	4%	₹1,105 Cr	33,945,150 ↑ 25,654,075
Icici Bank Limited October 2025 Future Derivatives \| -	4%	-₹1,099 Cr	8,097,600 ↑ 7,946,400
Hdfc Bank Limited October 2025 Future Derivatives \| -	4%	-₹1,013 Cr	10,593,000 ↑ 10,318,000
HDFC Bank Ltd (Financial Services) Equity, Since 31 Jan 23 \| HDFCBANK	4%	₹1,008 Cr	10,604,000 ↑ 3,136,100

4. UTI Arbitrage Fund

(Erstwhile UTI SPREAD Fund)

The investment objective of the scheme is to provide capital appreciation and dividend distribution through arbitrage opportunities arising out of price differences between the cash and derivative market by investing predominantly in equity and equity-related securities, derivatives and the balance portion in debt securities. However, there can be no assurance that the investment objective of the scheme will be realised.

Research Highlights for UTI Arbitrage Fund

Bottom quartile AUM (₹9,149 Cr).
Established history (19+ yrs).
Rating: 3★ (upper mid).
Risk profile: Moderately Low.
5Y return: 5.76% (upper mid).
3Y return: 7.19% (upper mid).
1Y return: 6.65% (top quartile).
1M return: 0.59% (upper mid).
Alpha: 0.00 (upper mid).
Sharpe: 1.12 (top quartile).
Information ratio: 0.00 (upper mid).
Higher exposure to Financial Services vs peer median.
Top bond sector: Cash Equivalent.
Conservative stance with elevated cash (~96%).
High-quality debt (AAA/AA ~100%).
Largest holding UTI Money Market Dir Gr (~14.7%).

Below is the key information for UTI Arbitrage Fund

UTI Arbitrage Fund Growth
Launch Date	22 Jun 06
NAV (04 Nov 25)	₹35.7337 ↑ 0.04 (0.10 %)
Net Assets (Cr)	₹9,149 on 31 Aug 25
Category	Hybrid - Arbitrage
AMC	UTI Asset Management Company Ltd
Rating	☆☆☆
Risk	Moderately Low
Expense Ratio	0.78
Sharpe Ratio	1.12
Information Ratio	0
Alpha Ratio	0
Min Investment	5,000
Min SIP Investment	500
Exit Load	0-30 Days (0.5%),30 Days and above(NIL)

Growth of 10,000 investment over the years.

Date	Value
31 Oct 20	₹10,000
31 Oct 21	₹10,379
31 Oct 22	₹10,742
31 Oct 23	₹11,511
31 Oct 24	₹12,383
31 Oct 25	₹13,201

UTI Arbitrage Fund SIP Returns

Total investment amount is ₹300,000
expected amount after 5 Years is ₹349,120.
Net Profit of ₹49,120 Invest Now

Returns for UTI Arbitrage Fund

Returns up to 1 year are on absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 4 Nov 25

Duration	Returns
1 Month	0.6%
3 Month	1.4%
6 Month	2.9%
1 Year	6.7%
3 Year	7.2%
5 Year	5.8%
10 Year
15 Year
Since launch	6.8%

Historical performance (Yearly) on absolute basis

Year	Returns
2024	7.7%
2023	7.2%
2022	4%
2021	3.9%
2020	4.4%
2019	6.2%
2018	6.2%
2017	5.7%
2016	6.5%
2015	7.6%

Fund Manager information for UTI Arbitrage Fund

Name	Since	Tenure
Amit Sharma	2 Jul 18	7.25 Yr.
Sharwan Kumar Goyal	1 Jan 21	4.75 Yr.

Data below for UTI Arbitrage Fund as on 31 Aug 25

Asset Allocation

Asset Class	Value
Cash	96.47%
Debt	3.97%
Other	0.05%

Equity Sector Allocation

Sector	Value
Financial Services	31.03%
Consumer Cyclical	9.56%
Basic Materials	8.05%
Industrials	5.25%
Consumer Defensive	5.05%
Energy	5%
Technology	4.27%
Health Care	4.02%
Communication Services	3.74%
Utility	2.09%
Real Estate	1.54%

Debt Sector Allocation

Sector	Value
Cash Equivalent	87.52%
Corporate	9.09%
Government	3.84%

Credit Quality

Rating	Value
AAA	100%

Top Securities Holdings / Portfolio

Name	Holding	Value	Quantity
UTI Money Market Dir Gr Investment Fund \| -	15%	₹1,345 Cr	4,234,395 ↓ -772,239
Future on ICICI Bank Ltd Derivatives \| -	4%	-₹405 Cr	2,981,300 ↑ 2,976,400
Future on HDFC Bank Ltd Derivatives \| -	4%	-₹403 Cr	4,214,100 ↑ 68,200
ICICI Bank Ltd (Financial Services) Equity, Since 30 Sep 24 \| ICICIBANK	4%	₹402 Cr	2,981,300 ↑ 98,000
HDFC Bank Ltd (Financial Services) Equity, Since 30 Apr 22 \| HDFCBANK	4%	₹401 Cr	4,214,100 ↑ 68,200
Future on Reliance Industries Ltd Derivatives \| -	4%	-₹368 Cr	2,677,000 ↑ 46,000
Reliance Industries Ltd (Energy) Equity, Since 31 Aug 23 \| RELIANCE	4%	₹365 Cr	2,677,000 ↑ 46,000
Future on Axis Bank Ltd Derivatives \| -	4%	-₹344 Cr	3,021,875 ↑ 273,750
Axis Bank Ltd (Financial Services) Equity, Since 31 Oct 23 \| 532215	4%	₹342 Cr	3,021,875 ↑ 273,750
Future on State Bank of India Derivatives \| -	3%	-₹313 Cr	3,571,500 ↓ -34,500

5. HDFC Arbitrage Fund

"To generate income through arbitrage opportunities between cash and derivative market and arbitrage opportunities within the derivative segment and by deployment of surplus cash in debt securities and money market instruments."

Research Highlights for HDFC Arbitrage Fund

Lower mid AUM (₹21,771 Cr).
Established history (18+ yrs).
Rating: 3★ (lower mid).
Risk profile: Moderately Low.
5Y return: 5.70% (bottom quartile).
3Y return: 7.14% (upper mid).
1Y return: 6.43% (bottom quartile).
1M return: 0.54% (bottom quartile).
Alpha: 0.00 (upper mid).
Sharpe: 0.64 (lower mid).
Information ratio: 0.00 (upper mid).
Top sector: Financial Services.
Top bond sector: Cash Equivalent.
Conservative stance with elevated cash (~97%).
High-quality debt (AAA/AA ~100%).
Largest holding HDFC Money Market Dir Gr (~10.9%).

Below is the key information for HDFC Arbitrage Fund

HDFC Arbitrage Fund Growth
Launch Date	23 Oct 07
NAV (04 Nov 25)	₹31.223 ↑ 0.03 (0.08 %)
Net Assets (Cr)	₹21,771 on 31 Aug 25
Category	Hybrid - Arbitrage
AMC	HDFC Asset Management Company Limited
Rating	☆☆☆
Risk	Moderately Low
Expense Ratio	0.97
Sharpe Ratio	0.64
Information Ratio	0
Alpha Ratio	0
Min Investment	100,000
Min SIP Investment	300
Exit Load	0-1 Months (0.25%),1 Months and above(NIL)

Growth of 10,000 investment over the years.

Date	Value
31 Oct 20	₹10,000
31 Oct 21	₹10,360
31 Oct 22	₹10,730
31 Oct 23	₹11,503
31 Oct 24	₹12,375
31 Oct 25	₹13,165

HDFC Arbitrage Fund SIP Returns

Total investment amount is ₹300,000
expected amount after 5 Years is ₹349,120.
Net Profit of ₹49,120 Invest Now

Returns for HDFC Arbitrage Fund

Returns up to 1 year are on absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 4 Nov 25

Duration	Returns
1 Month	0.5%
3 Month	1.4%
6 Month	2.8%
1 Year	6.4%
3 Year	7.1%
5 Year	5.7%
10 Year
15 Year
Since launch	6.5%

Historical performance (Yearly) on absolute basis

Year	Returns
2024	7.7%
2023	7.2%
2022	4.2%
2021	3.6%
2020	3.7%
2019	6%
2018	5.7%
2017	5.3%
2016	6.6%
2015	7.6%

Fund Manager information for HDFC Arbitrage Fund

Name	Since	Tenure
Anil Bamboli	1 Feb 22	3.67 Yr.
Arun Agarwal	24 Aug 20	5.11 Yr.
Dhruv Muchhal	22 Jun 23	2.28 Yr.
Nandita Menezes	29 Mar 25	0.51 Yr.

Data below for HDFC Arbitrage Fund as on 31 Aug 25

Asset Allocation

Asset Class	Value
Cash	96.56%
Debt	3.86%
Other	0.05%

Equity Sector Allocation

Sector	Value
Financial Services	25.87%
Basic Materials	8.73%
Consumer Cyclical	8.56%
Energy	5.86%
Industrials	5.39%
Consumer Defensive	4.3%
Technology	3.85%
Communication Services	3.77%
Health Care	3.54%
Utility	3.37%
Real Estate	1.32%

Debt Sector Allocation

Sector	Value
Cash Equivalent	87.49%
Corporate	9.68%
Government	3.2%
Securitized	0.05%

Credit Quality

Rating	Value
AAA	100%

Top Securities Holdings / Portfolio

Name	Holding	Value	Quantity
HDFC Money Market Dir Gr Investment Fund \| -	11%	₹2,392 Cr
Future on HDFC Bank Ltd Derivatives \| -	6%	-₹1,271 Cr
HDFC Bank Ltd (Financial Services) Equity, Since 31 Jan 23 \| HDFCBANK	6%	₹1,264 Cr	13,294,600 ↑ 398,200
Future on ICICI Bank Ltd Derivatives \| -	5%	-₹1,171 Cr
ICICI Bank Ltd (Financial Services) Equity, Since 30 Jun 24 \| 532174	5%	₹1,163 Cr	8,629,600 ↑ 537,600
HDFC Liquid Dir Gr Investment Fund \| -	5%	₹1,150 Cr
Future on Reliance Industries Ltd Derivatives \| -	4%	-₹905 Cr
Reliance Industries Ltd (Energy) Equity, Since 31 Oct 21 \| RELIANCE	4%	₹899 Cr	6,592,500 ↑ 448,500
Future on Axis Bank Ltd Derivatives \| -	3%	-₹759 Cr
Axis Bank Ltd (Financial Services) Equity, Since 31 Jul 23 \| 532215	3%	₹755 Cr	6,670,402 ↑ 156,027

6. Edelweiss Arbitrage Fund

The investment objective of the Scheme is to generate income by predominantly investing in arbitrage opportunities in the cash and the 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. However, there is no assurance that the investment objective of the scheme will be realized.

Research Highlights for Edelweiss Arbitrage Fund

Lower mid AUM (₹15,931 Cr).
Established history (11+ yrs).
Top rated.
Risk profile: Moderately Low.
5Y return: 5.78% (upper mid).
3Y return: 7.13% (lower mid).
1Y return: 6.47% (lower mid).
1M return: 0.59% (upper mid).
Alpha: -0.22 (bottom quartile).
Sharpe: 0.64 (bottom quartile).
Information ratio: -1.13 (bottom quartile).
Top sector: Financial Services.
Top bond sector: Cash Equivalent.
Conservative stance with elevated cash (~96%).
High-quality debt (AAA/AA ~100%).
Largest holding Edelweiss Liquid Dir Gr (~7.6%).

Below is the key information for Edelweiss Arbitrage Fund

Edelweiss Arbitrage Fund Growth
Launch Date	27 Jun 14
NAV (04 Nov 25)	₹19.7538 ↑ 0.02 (0.10 %)
Net Assets (Cr)	₹15,931 on 31 Aug 25
Category	Hybrid - Arbitrage
AMC	Edelweiss Asset Management Limited
Rating	☆☆☆☆☆
Risk	Moderately Low
Expense Ratio	1.07
Sharpe Ratio	0.64
Information Ratio	-1.13
Alpha Ratio	-0.22
Min Investment	5,000
Min SIP Investment	500
Exit Load	0-30 Days (0.25%),30 Days and above(NIL)

Growth of 10,000 investment over the years.

Date	Value
31 Oct 20	₹10,000
31 Oct 21	₹10,371
31 Oct 22	₹10,768
31 Oct 23	₹11,544
31 Oct 24	₹12,411
31 Oct 25	₹13,210

Edelweiss Arbitrage Fund SIP Returns

Total investment amount is ₹300,000
expected amount after 5 Years is ₹349,120.
Net Profit of ₹49,120 Invest Now

Returns for Edelweiss Arbitrage Fund

Returns up to 1 year are on absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 4 Nov 25

Duration	Returns
1 Month	0.6%
3 Month	1.4%
6 Month	2.8%
1 Year	6.5%
3 Year	7.1%
5 Year	5.8%
10 Year
15 Year
Since launch	6.2%

Historical performance (Yearly) on absolute basis

Year	Returns
2024	7.7%
2023	7.1%
2022	4.4%
2021	3.8%
2020	4.5%
2019	6.2%
2018	6.1%
2017	5.8%
2016	6.7%
2015	8%

Fund Manager information for Edelweiss Arbitrage Fund

Name	Since	Tenure
Bhavesh Jain	27 Jun 14	11.27 Yr.
Rahul Dedhia	1 Aug 24	1.17 Yr.
Amit Vora	6 Nov 24	0.9 Yr.
Pranavi Kulkarni	1 Jul 24	1.25 Yr.

Data below for Edelweiss Arbitrage Fund as on 31 Aug 25

Asset Allocation

Asset Class	Value
Cash	96.48%
Debt	3.97%
Other	0.03%

Equity Sector Allocation

Sector	Value
Financial Services	27.78%
Basic Materials	8.25%
Energy	7.19%
Consumer Cyclical	6.68%
Industrials	5.32%
Technology	4.92%
Utility	4.46%
Consumer Defensive	4.41%
Communication Services	3.73%
Health Care	3.66%
Real Estate	1.18%

Debt Sector Allocation

Sector	Value
Cash Equivalent	90.28%
Corporate	5.99%
Government	4.18%

Credit Quality

Rating	Value
AAA	99.99%

Top Securities Holdings / Portfolio

Name	Holding	Value	Quantity
Edelweiss Liquid Dir Gr Investment Fund \| -	8%	₹1,221 Cr	3,532,442 ↓ -450,491
Future on HDFC Bank Ltd Derivatives \| -	4%	-₹664 Cr	6,944,300 ↑ 534,600
HDFC Bank Ltd (Financial Services) Equity, Since 31 Mar 21 \| HDFCBANK	4%	₹660 Cr	6,944,300 ↑ 534,600
Future on Reliance Industries Ltd Derivatives \| -	4%	-₹636 Cr	4,631,000 ↑ 592,500
Reliance Industries Ltd (Energy) Equity, Since 30 Apr 18 \| RELIANCE	4%	₹632 Cr	4,631,000 ↑ 592,500
Future on Axis Bank Ltd Derivatives \| -	3%	-₹445 Cr	3,911,250 ↓ -527,500
Axis Bank Ltd (Financial Services) Equity, Since 31 Jul 21 \| 532215	3%	₹443 Cr	3,911,250 ↓ -527,500
Future on ICICI Bank Ltd Derivatives \| -	3%	-₹436 Cr	3,213,000 ↑ 1,577,800
ICICI Bank Ltd (Financial Services) Equity, Since 30 Apr 20 \| ICICIBANK	3%	₹433 Cr	3,213,000 ↑ 1,577,800
Edelweiss Money Market Dir Gr Investment Fund \| -	3%	₹423 Cr	132,665,055

7. ICICI Prudential Equity Arbitrage Fund

The investment objective of Income Optimiser Plan under the scheme is to seek to generate low volatility returns by using arbitrage and other derivative strategies in equity markets and investments in short-term debt portfolio.

Research Highlights for ICICI Prudential Equity Arbitrage Fund

Upper mid AUM (₹32,593 Cr).
Established history (18+ yrs).
Rating: 4★ (upper mid).
Risk profile: Moderate.
5Y return: 5.75% (lower mid).
3Y return: 7.12% (lower mid).
1Y return: 6.53% (upper mid).
1M return: 0.56% (bottom quartile).
Alpha: 0.00 (lower mid).
Sharpe: 0.92 (upper mid).
Information ratio: 0.00 (lower mid).
Top sector: Financial Services.
Top bond sector: Cash Equivalent.
Conservative stance with elevated cash (~98%).
High-quality debt (AAA/AA ~100%).
Largest holding ICICI Pru Money Market Dir Gr (~15.4%).

Below is the key information for ICICI Prudential Equity Arbitrage Fund

ICICI Prudential Equity Arbitrage Fund Growth
Launch Date	30 Dec 06
NAV (04 Nov 25)	₹34.9706 ↑ 0.04 (0.10 %)
Net Assets (Cr)	₹32,593 on 31 Aug 25
Category	Hybrid - Arbitrage
AMC	ICICI Prudential Asset Management Company Limited
Rating	☆☆☆☆
Risk	Moderate
Expense Ratio	0.9
Sharpe Ratio	0.92
Information Ratio	0
Alpha Ratio	0
Min Investment	5,000
Min SIP Investment	1,000
Exit Load	0-1 Months (0.25%),1 Months and above(NIL)

Growth of 10,000 investment over the years.

Date	Value
31 Oct 20	₹10,000
31 Oct 21	₹10,372
31 Oct 22	₹10,757
31 Oct 23	₹11,528
31 Oct 24	₹12,388
31 Oct 25	₹13,192

ICICI Prudential Equity Arbitrage Fund SIP Returns

Total investment amount is ₹300,000
expected amount after 5 Years is ₹349,120.
Net Profit of ₹49,120 Invest Now

Returns for ICICI Prudential Equity Arbitrage Fund

Returns up to 1 year are on absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 4 Nov 25

Duration	Returns
1 Month	0.6%
3 Month	1.4%
6 Month	2.8%
1 Year	6.5%
3 Year	7.1%
5 Year	5.8%
10 Year
15 Year
Since launch	6.9%

Historical performance (Yearly) on absolute basis

Year	Returns
2024	7.6%
2023	7.1%
2022	4.2%
2021	3.9%
2020	4.3%
2019	5.9%
2018	6.2%
2017	5.5%
2016	6.8%
2015	7.6%

Fund Manager information for ICICI Prudential Equity Arbitrage Fund

Name	Since	Tenure
Nikhil Kabra	29 Dec 20	4.76 Yr.
Sharmila D’mello	31 Jul 22	3.17 Yr.
Darshil Dedhia	13 Sep 24	1.05 Yr.
Ajaykumar Solanki	23 Aug 24	1.11 Yr.
Archana Nair	1 Feb 24	1.67 Yr.

Data below for ICICI Prudential Equity Arbitrage Fund as on 31 Aug 25

Asset Allocation

Asset Class	Value
Cash	97.95%
Debt	2.5%
Other	0.03%

Equity Sector Allocation

Sector	Value
Financial Services	23.68%
Consumer Cyclical	10.25%
Energy	8.27%
Basic Materials	6.52%
Industrials	6.28%
Communication Services	5.66%
Technology	4.69%
Health Care	4.37%
Consumer Defensive	4.16%
Utility	3.8%
Real Estate	1.35%

Debt Sector Allocation

Sector	Value
Cash Equivalent	86.28%
Corporate	10.13%
Government	4.05%

Credit Quality

Rating	Value
AAA	100%

Top Securities Holdings / Portfolio

Name	Holding	Value	Quantity
ICICI Pru Money Market Dir Gr Investment Fund \| -	15%	₹5,002 Cr	127,933,512 ↑ 2,558,777
Future on HDFC Bank Ltd Derivatives \| -	5%	-₹1,581 Cr	16,540,700 ↓ -1,776,500
HDFC Bank Ltd (Financial Services) Equity, Since 30 Nov 21 \| HDFCBANK	5%	₹1,573 Cr	16,540,700 ↓ -1,776,500
Future on Bharti Airtel Ltd Derivatives \| -	4%	-₹1,375 Cr	7,265,600 ↑ 301,625
Bharti Airtel Ltd (Communication Services) Equity, Since 31 Dec 23 \| BHARTIARTL	4%	₹1,365 Cr	7,265,600 ↑ 301,625
Future on Reliance Industries Ltd Derivatives \| -	4%	-₹1,288 Cr	9,376,500 ↑ 282,500
Reliance Industries Ltd (Energy) Equity, Since 31 Aug 18 \| RELIANCE	4%	₹1,279 Cr	9,376,500 ↑ 282,500
Future on Mahindra & Mahindra Ltd Derivatives \| -	3%	-₹843 Cr	2,442,200 ↑ 157,600
Mahindra & Mahindra Ltd (Consumer Cyclical) Equity, Since 31 Jul 14 \| M&M	3%	₹837 Cr	2,442,200 ↑ 157,600
Future on Axis Bank Ltd Derivatives \| -	2%	-₹729 Cr	6,413,125 ↓ -1,593,125

8. Aditya Birla Sun Life Arbitrage Fund

(Erstwhile Aditya Birla Sun Life Enhanced Arbitrage Fund)

An Open ended Equity Scheme with an investment objective to generate income by investing predominantly in equity and equity related instruments. Scheme intends to take advantage from the price differentials / mis-pricing prevailing for stock / index in various market segments (Cash & Futures).

Research Highlights for Aditya Birla Sun Life Arbitrage Fund

Upper mid AUM (₹23,581 Cr).
Established history (16+ yrs).
Rating: 3★ (lower mid).
Risk profile: Moderate.
5Y return: 5.70% (lower mid).
3Y return: 7.08% (bottom quartile).
1Y return: 6.48% (lower mid).
1M return: 0.57% (lower mid).
Alpha: 0.00 (lower mid).
Sharpe: 0.88 (upper mid).
Information ratio: 0.00 (lower mid).
Top sector: Financial Services.
Top bond sector: Cash Equivalent.
Conservative stance with elevated cash (~92%).
High-quality debt (AAA/AA ~100%).
Largest holding Aditya BSL Money Mgr Dir Gr (~10.9%).

Below is the key information for Aditya Birla Sun Life Arbitrage Fund

Aditya Birla Sun Life Arbitrage Fund Growth
Launch Date	24 Jul 09
NAV (04 Nov 25)	₹27.0752 ↑ 0.03 (0.10 %)
Net Assets (Cr)	₹23,581 on 31 Aug 25
Category	Hybrid - Arbitrage
AMC	Birla Sun Life Asset Management Co Ltd
Rating	☆☆☆
Risk	Moderate
Expense Ratio	1.01
Sharpe Ratio	0.88
Information Ratio	0
Alpha Ratio	0
Min Investment	1,000
Min SIP Investment	1,000
Exit Load	0-30 Days (0.5%),30 Days and above(NIL)

Growth of 10,000 investment over the years.

Date	Value
31 Oct 20	₹10,000
31 Oct 21	₹10,379
31 Oct 22	₹10,748
31 Oct 23	₹11,510
31 Oct 24	₹12,366
31 Oct 25	₹13,164

Aditya Birla Sun Life Arbitrage Fund SIP Returns

Total investment amount is ₹300,000
expected amount after 5 Years is ₹349,120.
Net Profit of ₹49,120 Invest Now

Returns for Aditya Birla Sun Life Arbitrage Fund

Returns up to 1 year are on absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 4 Nov 25

Duration	Returns
1 Month	0.6%
3 Month	1.3%
6 Month	2.8%
1 Year	6.5%
3 Year	7.1%
5 Year	5.7%
10 Year
15 Year
Since launch	6.3%

Historical performance (Yearly) on absolute basis

Year	Returns
2024	7.5%
2023	7.1%
2022	4.1%
2021	3.8%
2020	4.1%
2019	6.2%
2018	6%
2017	5.6%
2016	6.5%
2015	7.6%

Fund Manager information for Aditya Birla Sun Life Arbitrage Fund

Name	Since	Tenure
Lovelish Solanki	15 Dec 14	10.8 Yr.
Mohit Sharma	3 Mar 25	0.58 Yr.
Krina Mehta	2 Oct 25	0 Yr.

Data below for Aditya Birla Sun Life Arbitrage Fund as on 31 Aug 25

Asset Allocation

Asset Class	Value
Cash	91.76%
Debt	8.67%
Other	0.05%

Equity Sector Allocation

Sector	Value
Financial Services	25.45%
Consumer Cyclical	8.81%
Basic Materials	7.3%
Energy	6.91%
Industrials	6.4%
Consumer Defensive	4.77%
Health Care	3.9%
Technology	3.83%
Communication Services	3.79%
Utility	3.25%
Real Estate	1.36%

Debt Sector Allocation

Sector	Value
Cash Equivalent	85.08%
Corporate	11.62%
Government	3.69%
Securitized	0.04%

Credit Quality

Rating	Value
AA	15.47%
AAA	84.53%

Top Securities Holdings / Portfolio

Name	Holding	Value	Quantity
Aditya BSL Money Mgr Dir Gr Investment Fund \| -	11%	₹2,473 Cr	64,799,248
Aditya BSL FRF Dir Gr Investment Fund \| -	6%	₹1,351 Cr	37,135,768
Reliance Industries Ltd (Energy) Equity, Since 30 Jun 18 \| RELIANCE	5%	₹1,037 Cr	7,605,500 ↑ 76,000
Reliance_(28/10/2025) Derivatives \| -	4%	-₹967 Cr	7,043,000 ↑ 6,269,500
Future on HDFC Bank Ltd Derivatives \| -	4%	-₹922 Cr	9,383,300 ↑ 1,541,400
HDFC Bank Ltd (Financial Services) Equity, Since 31 Dec 21 \| HDFCBANK	4%	₹887 Cr	9,330,200 ↑ 1,488,300
Future on ICICI Bank Ltd Derivatives \| -	4%	-₹812 Cr	5,980,800 ↑ 275,275
ICICI Bank Ltd (Financial Services) Equity, Since 31 May 24 \| ICICIBANK	4%	₹806 Cr	5,980,800 ↑ 345,800
Future on Eternal Ltd Derivatives \| -	3%	-₹628 Cr	19,157,500 ↑ 295,850
Eternal Ltd (Consumer Cyclical) Equity, Since 30 Apr 25 \| 543320	3%	₹624 Cr	19,157,500 ↑ 295,850

9. Bandhan Arbitrage Fund

The investment objective of the Scheme is to generate capital appreciation and income by predominantly investing in arbitrage opportunity in the cash and the derivative segments of the equity markets and the arbitrage opportunity available within the derivative segments and by investing the balance in debt and money market instruments. However there is no assurance that the investment objective of the scheme will be realized.

Research Highlights for Bandhan Arbitrage Fund

Bottom quartile AUM (₹8,369 Cr).
Established history (18+ yrs).
Rating: 1★ (bottom quartile).
Risk profile: Moderately Low.
5Y return: 5.62% (bottom quartile).
3Y return: 7.05% (bottom quartile).
1Y return: 6.34% (bottom quartile).
1M return: 0.58% (upper mid).
Alpha: 0.00 (bottom quartile).
Sharpe: 0.42 (bottom quartile).
Information ratio: 0.00 (bottom quartile).
Top sector: Financial Services.
Top bond sector: Cash Equivalent.
Conservative stance with elevated cash (~89%).
High-quality debt (AAA/AA ~100%).
Largest holding Bandhan Money Market Dir Gr (~12.3%).

Below is the key information for Bandhan Arbitrage Fund

Bandhan Arbitrage Fund Growth
Launch Date	21 Dec 06
NAV (04 Nov 25)	₹33.0494 ↑ 0.04 (0.11 %)
Net Assets (Cr)	₹8,369 on 31 Aug 25
Category	Hybrid - Arbitrage
AMC	IDFC Asset Management Company Limited
Rating	☆
Risk	Moderately Low
Expense Ratio	1.1
Sharpe Ratio	0.42
Information Ratio	0
Alpha Ratio	0
Min Investment	100
Min SIP Investment	1,000
Exit Load	0-1 Months (0.25%),1 Months and above(NIL)

Growth of 10,000 investment over the years.

Date	Value
31 Oct 20	₹10,000
31 Oct 21	₹10,346
31 Oct 22	₹10,710
31 Oct 23	₹11,477
31 Oct 24	₹12,333
31 Oct 25	₹13,111

Bandhan Arbitrage Fund SIP Returns

Total investment amount is ₹300,000
expected amount after 5 Years is ₹349,120.
Net Profit of ₹49,120 Invest Now

Returns for Bandhan Arbitrage Fund

Returns up to 1 year are on absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 4 Nov 25

Duration	Returns
1 Month	0.6%
3 Month	1.3%
6 Month	2.7%
1 Year	6.3%
3 Year	7%
5 Year	5.6%
10 Year
15 Year
Since launch	6.5%

Historical performance (Yearly) on absolute basis

Year	Returns
2024	7.5%
2023	7.1%
2022	4.1%
2021	3.5%
2020	3.8%
2019	6.2%
2018	6.3%
2017	5.5%
2016	6.3%
2015	7.4%

Fund Manager information for Bandhan Arbitrage Fund

Name	Since	Tenure
Harshal Joshi	20 Oct 16	8.95 Yr.
Brijesh Shah	10 Jun 24	1.31 Yr.
Ritika Behera	7 Oct 23	1.99 Yr.
Gaurav Satra	7 Jun 24	1.32 Yr.
Kapil Kankonkar	16 Jun 25	0.29 Yr.

Data below for Bandhan Arbitrage Fund as on 31 Aug 25

Asset Allocation

Asset Class	Value
Cash	88.63%
Debt	11.78%
Other	0.06%

Equity Sector Allocation

Sector	Value
Financial Services	29.87%
Basic Materials	7.43%
Energy	5.65%
Industrials	5.62%
Consumer Cyclical	5.57%
Consumer Defensive	4.35%
Technology	4.03%
Communication Services	3.98%
Health Care	2.77%
Utility	2.39%
Real Estate	1.5%

Debt Sector Allocation

Sector	Value
Cash Equivalent	79.87%
Corporate	13.94%
Government	6.6%

Credit Quality

Rating	Value
AAA	100%

Top Securities Holdings / Portfolio

Name	Holding	Value	Quantity
Bandhan Money Market Dir Gr Investment Fund \| -	12%	₹1,055 Cr	237,369,795
Bandhan Low Duration Dir Gr Investment Fund \| -	5%	₹457 Cr	113,744,806 ↓ -18,690,517
HDFC Bank Ltd (Financial Services) Equity, Since 31 Mar 22 \| HDFCBANK	4%	₹373 Cr	3,922,600 ↓ -232,100
Hdfc Bank Limited October 2025 Future Derivatives \| -	4%	-₹354 Cr	3,702,600 ↑ 3,080,000
Future on Reliance Industries Ltd Derivatives \| -	4%	-₹349 Cr	2,541,500 ↑ 1,991,500
Reliance Industries Ltd (Energy) Equity, Since 31 Mar 18 \| RELIANCE	4%	₹347 Cr	2,541,500 ↓ -28,500
Icici Bank Limited October 2025 Future Derivatives \| -	3%	-₹266 Cr	1,957,200 ↑ 1,449,700
ICICI Bank Ltd (Financial Services) Equity, Since 31 Oct 24 \| ICICIBANK	3%	₹264 Cr	1,957,200 ↓ -135,100
Bandhan Ultra Short Dur Dir Gr Investment Fund \| -	3%	₹235 Cr	150,192,368 ↓ -31,989,763
Future on Vodafone Idea Ltd Derivatives \| -	3%	-₹221 Cr	269,746,650 ↑ 133,729,725

10. BNP Paribas Arbitrage Fund

(Erstwhile BNP Paribas Enhanced Arbitrage Fund)

The primary investment objective of the scheme is to generate income and capital appreciation by investing in a combination of diversified portfolio of equity and equity related instruments, including use of equity derivatives strategies and arbitrage opportunities with exposure in debt and fixed income instruments. However, there can be no assurance that the investment objectives of the Scheme will be realized. The Scheme does not guarantee/indicate any returns

Research Highlights for BNP Paribas Arbitrage Fund

Bottom quartile AUM (₹1,201 Cr).
Established history (8+ yrs).
Not Rated.
Risk profile: Moderately High.
5Y return: 5.57% (bottom quartile).
3Y return: 6.99% (bottom quartile).
1Y return: 6.20% (bottom quartile).
1M return: 0.62% (top quartile).
Alpha: 0.00 (bottom quartile).
Sharpe: -0.06 (bottom quartile).
Information ratio: 0.00 (bottom quartile).
Top sector: Financial Services.
Top bond sector: Cash Equivalent.
Conservative stance with elevated cash (~94%).
High-quality debt (AAA/AA ~100%).
Largest holding Baroda BNP P Money Market Dir Gr (~21.1%).

Below is the key information for BNP Paribas Arbitrage Fund

BNP Paribas Arbitrage Fund Growth
Launch Date	28 Dec 16
NAV (04 Nov 25)	₹16.3688 ↑ 0.02 (0.13 %)
Net Assets (Cr)	₹1,201 on 31 Jul 25
Category	Hybrid - Arbitrage
AMC	BNP Paribas Asset Mgmt India Pvt. Ltd
Rating	Not Rated
Risk	Moderately High
Expense Ratio	1.14
Sharpe Ratio	-0.07
Information Ratio	0
Alpha Ratio	0
Min Investment	5,000
Min SIP Investment	300
Exit Load	0-1 Months (0.25%),1 Months and above(NIL)

Growth of 10,000 investment over the years.

Date	Value
31 Oct 20	₹10,000
31 Oct 21	₹10,374
31 Oct 22	₹10,700
31 Oct 23	₹11,453
31 Oct 24	₹12,319
31 Oct 25	₹13,079

BNP Paribas Arbitrage Fund SIP Returns

Total investment amount is ₹300,000
expected amount after 5 Years is ₹349,120.
Net Profit of ₹49,120 Invest Now

Returns for BNP Paribas Arbitrage Fund

Returns up to 1 year are on absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 4 Nov 25

Duration	Returns
1 Month	0.6%
3 Month	1.4%
6 Month	2.8%
1 Year	6.2%
3 Year	7%
5 Year	5.6%
10 Year
15 Year
Since launch	5.7%

Historical performance (Yearly) on absolute basis

Year	Returns
2024	7.5%
2023	7.2%
2022	3.8%
2021	3.7%
2020	4.6%
2019	6.2%
2018	6%
2017	6.4%
2016
2015

Fund Manager information for BNP Paribas Arbitrage Fund

Name	Since	Tenure
Vikram Pamnani	16 Mar 22	3.55 Yr.
Neeraj Saxena	14 Mar 22	3.55 Yr.

Data below for BNP Paribas Arbitrage Fund as on 31 Jul 25

Asset Allocation

Asset Class	Value
Cash	94.36%
Debt	6.01%
Other	0.04%

Equity Sector Allocation

Sector	Value
Financial Services	25.7%
Utility	9.17%
Basic Materials	8.33%
Industrials	6.19%
Consumer Cyclical	5.92%
Consumer Defensive	4.46%
Technology	2.66%
Health Care	2.06%
Energy	1.61%
Real Estate	1.44%
Communication Services	0.14%

Debt Sector Allocation

Sector	Value
Cash Equivalent	82.93%
Corporate	11.88%
Government	5.57%

Credit Quality

Rating	Value
AA	100%

Top Securities Holdings / Portfolio

Name	Holding	Value	Quantity
Baroda BNP P Money Market Dir Gr Investment Fund \| -	21%	₹268 Cr	1,880,903 ↑ 175,824
Future on Axis Bank Ltd Derivatives \| -	3%	-₹43 Cr	374,375 ↑ 1,250
Axis Bank Ltd (Financial Services) Equity, Since 31 May 25 \| 532215	3%	₹42 Cr	374,375 ↑ 1,250
Future on Adani Green Energy Ltd Derivatives \| -	3%	-₹41 Cr	395,400 ↓ -7,800
Adani Green Energy Ltd (Utilities) Equity, Since 31 Mar 25 \| ADANIGREEN	3%	₹41 Cr	395,400 ↓ -7,800
Piramal Finance Limited Debentures \| -	3%	₹33 Cr	443,736 ↓ -1,330
Future on JSW Energy Ltd Derivatives \| -	2%	-₹31 Cr	575,000 ↓ -19,000
Future on IDFC First Bank Ltd Derivatives \| -	2%	-₹31 Cr	4,359,250 ↓ -361,725
JSW Energy Ltd (Utilities) Equity, Since 31 Dec 24 \| JSWENERGY	2%	₹31 Cr	575,000 ↓ -19,000
IDFC First Bank Ltd (Financial Services) Equity, Since 28 Feb 25 \| IDFCFIRSTB	2%	₹30 Cr	4,359,250 ↓ -361,725

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