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Invesco India Arbitrage Fund - Direct Plan


1 Lakh

Investment Grown to
₹ 1.21 Lakh

₹ 10000

Monthly SIP Grown to
₹ 3.99 Lakh

Analyst's Choice?

Suitability:

Arbitrage funds invest in equity shares and derivatives and earn their returns through price differential between a stock and its futures. By investing in these funds, you can expect to earn better returns than what you would get from a bank account.

Arbitrage funds keep their equity investments fully hedged, which basically means that their returns are not impacted by the day-to-day ups and downs of the stock market. The risk of incurring a loss in these funds is low but they do not guarantee returns or safety of capital.

Retail investors can avoid these funds altogether. We believe that liquid funds are a better alternative with a somewhat similar risk-return payoff but better liquidity.

Taxability of earnings:

Capital gains

  • If the mutual fund units are sold after 1 year from the date of investment, gains upto Rs 1 lakh in a financial year are exempt from tax. Gains over Rs 1 lakh are taxed at the rate of 10%.
  • If the mutual fund units are sold within 1 year from the date of investment, entire amount of gain is taxed at the rate of 15%.
  • No tax is to be paid as long as you continue to hold the units.

Dividends

  • Dividends paid by the mutual fund scheme are taxed at the rate of 10% (effectively 11.648%, including surcharge and cess). This is known as Dividend Distribution Tax (DDT). Though the investor does not pay this tax directly, it is deducted from the dividend income before passing on to the investor.

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(₹)
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Trailing Returns (%)

YTD 1-Day 1-W 1-M 3-M 6-M 1-Y 3-Y 5-Y 7-Y 10-Y
Fund 1.45 0.34 0.45 0.84 1.73 3.28 7.13 6.62 6.85 7.43 --
CCIL T Bill Liquidity Weight 0.58 0.02 0.03 0.28 0.79 1.74 4.08 4.14 4.44 4.77 --
Hybrid: Arbitrage 1.40 0.32 0.46 0.79 1.68 3.10 6.87 6.49 6.92 7.55 --
Rank within category 10 8 17 7 13 8 10 12 11 7 --
Number of funds in category 24 25 25 24 24 23 23 17 15 9 0

As on 28-Feb-2020

Best & Worst Performance

Best (Period) Worst (Period)
Week 0.55 (01-Mar-2016 - 08-Mar-2016) -0.24 (08-Mar-2016 - 15-Mar-2016)
Month 1.04 (05-Feb-2016 - 08-Mar-2016) 0.16 (26-Apr-2013 - 27-May-2013)
Quarter 2.64 (11-Sep-2013 - 11-Dec-2013) 1.16 (18-Oct-2019 - 17-Jan-2020)
Year 9.40 (16-May-2014 - 18-May-2015) 6.02 (04-Apr-2018 - 04-Apr-2019)

Risk Measures (%)

Mean Std Dev Sharpe Sortino Beta Alpha
Fund 6.34 0.52 1.29 2.38 0.46 1.41
CCIL T Bill Liquidity Weight 4.06 0.27 -6.06 -10.48 -- --
Hybrid: Arbitrage 6.20 0.69 1.24 2.41 0.55 1.41
Rank within category 12 8 11 12 6 13
Number of funds in category 17 17 17 17 17 17

The Risk Measures have been calculated using calendar month returns for the last three years.

As on 31-Jan-2020

Asset Allocation (%)

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Concentration & Valuation

Number of Stocks 33
Top 10 Holdings (%) 46.48
Top 5 Holdings (%) 30.22
Top 3 Sectors (%) --
Portfolio P/B Ratio 2.92
Portfolio P/E Ratio 21.32

Value Research Equity Fund Style

Value Research Debt Fund Style

Credit Rating vis-à-vis Category

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Top Debt Holdings

Company Instrument Credit Rating 1Y Range % Assets
equal 7.30% HDFC Bank 366-D 2020 Fixed Deposits -- 0.00 - 5.13 4.08
equal 8.35% Sundaram Finance 31/05/2021 Non Convertible Debenture AAA 0.00 - 4.33 3.55
new 7.70% Bajaj Finance 20/01/2022 Debenture AAA 0.00 - 3.52 3.52
equal Kotak Mahindra Prime 2021 Zero Coupon Bonds AAA 0.00 - 3.78 3.27
equal 5.75% HDFC Bank 369-D 2020 Fixed Deposits -- 0.00 - 2.26 1.85
equal 6.00% HDFC Bank 369-D 2020 Fixed Deposits -- 0.00 - 2.33 1.85
equal 5.60% HDFC Bank 187-D 2020 Fixed Deposits -- 0.00 - 2.33 1.85
new 8.71% HDB Financial Services 18/02/2021 Bonds/Debentures AAA 0.00 - 1.78 1.78
new 8.51% HDFC 15/07/2020 Non Convertible Debenture AAA 0.00 - 1.76 1.76
equal 6.00% HDFC Bank 368-D 2020 Fixed Deposits -- 0.00 - 1.84 1.57
new 6.40% RBL Bank 368-D 2021 Fixed Deposits -- 0.00 - 1.57 1.57
equal 7.30% HDFC Bank 367-D 2020 Fixed Deposits -- 0.00 - 1.66 1.32
equal 7.15% HDFC Bank 366-D 2020 Fixed Deposits -- 0.00 - 0.90 0.72
equal 6.45% HDFC Bank 369-D 2020 Fixed Deposits -- 0.00 - 0.83 0.68
new 6.30% HDFC Bank 368-D 2021 Fixed Deposits -- 0.00 - 0.68 0.68

up down equal Indicates an increase or decrease or no change in holding since last portfolio
new Indicates a new holding since last portfolio

Sector Allocation vis-à-vis Category

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Top Equity Holdings

Company Sector P/E 3Y High 3Y Low % Assets
up Reliance Industries Energy 19.42 9.05 0.00 7.95
equal HDFC Financial 17.28 8.51 0.00 6.96
up Bajaj Finance Financial 49.25 6.91 0.00 6.91
up ITC FMCG 16.21 4.96 0.00 4.32
new Muthoot Finance Financial 12.42 2.96 0.00 2.96
up HDFC Bank Financial 24.57 8.09 0.00 2.96
down Tata Consultancy Services Technology 23.16 9.16 0.00 2.85
new Bharti Airtel Communication -- 6.59 0.00 2.83
equal Mahindra & Mahindra Automobile 26.33 3.47 0.00 2.52
up Axis Bank Financial 41.06 4.66 0.00 2.36
new Sun TV Network Services 11.44 3.02 0.00 2.35
down Asian Paints Chemicals 63.50 6.52 0.00 2.26
up Infosys Technology 19.05 6.62 0.00 2.12
new Container Corp. Services 68.46 2.11 0.00 2.11
up Bajaj Auto Automobile 15.88 1.81 0.00 1.81
equal Grasim Industries Construction 11.14 2.12 0.00 1.59
equal Vedanta Metals 5.00 3.30 0.00 1.43
equal Sun Pharmaceutical Inds. Healthcare 22.37 6.44 0.00 1.25
equal Ultratech Cement Construction 34.49 1.19 0.00 1.08
equal Maruti Suzuki India Automobile 30.70 7.77 0.00 1.02
equal United Spirits FMCG 69.03 1.83 0.00 0.95
new Tech Mahindra Technology 16.47 1.24 0.00 0.87
up Indusind Bank Financial 17.01 1.34 0.00 0.79
down HCL Technologies Technology 13.89 3.78 0.00 0.67
equal ACC Construction 18.01 4.55 0.00 0.59

up down equal Indicates an increase or decrease or no change in holding since last portfolio
new Indicates a new holding since last portfolio

As on 31-Jan-2020

Fund Manager

— Pranav Gokhale since 01-Jan-2013

Education: Mr. Gokhale is a Chartered Accountant & holds M.Com degree.

Experience: Prior to joining Invesco Mutual Fund, he has worked with IL&FS, ICICI Direct, Rosy Blue Securities Pvt. Ltd., and International Ship Repair LLC Fujairiah.

Funds Managed:


0.34%

Change from previous, NAV as on 28-Feb-2020

Growth: ₹ 24.8899

Dividend: ₹ 13.8501

Annual Bonus: ₹ 24.8882


Investment Strategy

The fund aims to generate income by cashing in on arbitrage opportunities emerging out of pricing mismatch between the cash market and the derivatives market.

Investment Details

Minimum Investment (₹) 1,000
Minimum Addl Investment (₹) 1,000
Minimum SIP Investment (₹) 500
Minimum No of Cheques 12
Minimum Withdrawal (₹) 1,000
Minimum Balance (₹) --
Exit Load 0.5% for redemption within 15 days

Basic Details

Fund House: Invesco Mutual Fund
Launch Date: 01-Jan-2013
Return Since Launch: 7.46%
Benchmark: NIFTY 50 Arbitrage
Riskometer: Moderately Low
Type: Open-ended
Assets: ₹ 286 Cr (As on 31-Jan-2020)
Expense: 0.33% (As on 31-Jan-2020)
Risk Grade: Average
Return Grade: Below Average
Turnover: 1,057.00%

Most Recent Dividends

Plan Record Date Dividend (₹ / Unit)  
Dividend20-Feb-20200.0354

 28-Jan-20200.0177
 19-Dec-20190.0620
 21-Nov-20190.0354
 22-Oct-20190.0708
 19-Sep-20190.0708
 22-Aug-20190.0708
 18-Jul-20190.0708
 20-Jun-20190.0708
 16-May-20190.0708
 22-Mar-20190.0500
 21-Feb-20190.0500
 17-Jan-20190.0500
 20-Dec-20180.0500
 20-Nov-20180.0500
 19-Oct-20180.0400
 21-Sep-20180.0400
 20-Aug-20180.0400
 19-Jul-20180.0400
 21-Jun-20180.0400
 17-May-20180.0400
 19-Apr-20180.0400
 19-Mar-20180.0800
 15-Feb-20180.1000
 18-Jan-20180.0500

Contact Information

AMC: Invesco Asset Management (India) Pvt. Ltd

Address: 2101 - A-A Wing - 21st Floor, Marathon Futurex, N.M. Joshi Marg, Lower Parel, Mumbai - 400013

Phone: 022-67310000 / 1800-209-0007

Fax: 022-23019422

Email: [email protected]

Website: www.invescomutualfund.com

Registrar & Transfer Agent: KFin Technologies Pvt Ltd.

Address: 303, Vamsee Estates, Opp. Big Bazaar, Ameerpet, Hyderabad - 500016

Phone: 040-44857874

Email: [email protected]

Website: www.karvymfs.com

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