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JM Arbitrage Fund


Hybrid: Arbitrage

1 Lakh

Investment Grown to
₹ 1.11 Lakh

₹ 10000

Monthly SIP Grown to
₹ 3.76 Lakh

Suitability:

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

They are usually suitable to park your money for a period ranging between three months to a year. However, we believe that liquid funds, which have a similar risk-return payoff, are a better alternative for most investors for such a time frame. Arbitrage funds may have some appeal for those who are in the highest tax bracket, given the preferential tax treatment of these funds.

The risk of incurring a loss in these funds over the said time frame is low but they do not guarantee returns or safety of capital.

Remember, these funds usually deliver low returns which are only marginally higher than your bank account. They are not suitable if your aim is to build wealth in the long run."

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 are added to the income of the investors and taxed according to their respective tax slabs. Further, if an investor's dividend income exceeds Rs. 5,000 in a financial year, the fund house also deducts a TDS of 10% before distributing the dividend.

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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 0.26 0.10 0.14 0.32 0.86 1.49 2.94 3.52 4.26 4.99 6.17
CCIL T Bill Liquidity Weight 0.09 0.01 0.06 0.18 0.52 1.04 2.10 3.09 3.50 3.91 4.43
Hybrid: Arbitrage 0.26 0.13 0.13 0.33 0.97 1.67 3.54 4.40 4.93 5.59 6.54
Rank within category 13 25 9 17 20 20 20 19 16 15 10
Number of funds in category 25 25 25 25 25 25 25 20 17 15 10

As on 18-Jan-2022

Peer Comparison

Fund name Rating Launch Date 1-Year Return 3-Year Return 5-Year Return Expense Ratio Assets (Cr)
JM Arbitrage Fund
1 star
Jul-06 2.94 3.52 4.26 0.92% 50
Kotak Equity Arbitrage Fund Regular Plan  | Invest Online
5 star
Sep-05 4.08 4.78 5.34 1.00% 24,642
Tata Arbitrage Fund - Regular Plan  | Invest Online
5 star
Dec-18 3.91 4.97 -- 1.09% 11,119
Aditya Birla Sun Life Arbitrage Fund  | Invest Online
4 star
Jul-09 3.98 4.70 5.18 0.99% 8,562
Edelweiss Arbitrage Fund - Regular Plan  | Invest Online
5 star
Jun-14 3.98 4.80 5.33 1.07% 6,401

Best & Worst Performance

Best Performance Worst Performance
Return (%) Period Return (%) Period
Week 2.67 06-Oct-2008 - 13-Oct-2008 -2.60 29-Sep-2008 - 06-Oct-2008
Month 4.00 06-Oct-2008 - 05-Nov-2008 -1.75 05-Sep-2008 - 06-Oct-2008
Quarter 4.98 06-Oct-2008 - 05-Jan-2009 -0.88 07-Jul-2008 - 06-Oct-2008
Year 10.52 22-Jan-2007 - 22-Jan-2008 1.55 29-May-2020 - 31-May-2021

Risk Measures (%)

Mean Std Dev Sharpe Sortino Beta Alpha
Fund 3.48 0.89 -0.28 -0.46 0.52 0.06
CCIL T Bill Liquidity Weight 3.13 0.39 -1.53 -4.65 -- --
Hybrid: Arbitrage 4.34 0.81 0.78 1.16 0.87 1.14
Rank within category 19 19 18 18 1 19
Number of funds in category 20 20 20 20 20 20

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

As on 31-Dec-2021

Asset Allocation (%)

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Concentration & Valuation

Number of Stocks 25
Top 10 Holdings (%) 65.24
Top 5 Holdings (%) 45.51
Top 3 Sectors (%) 42.54
Portfolio P/B Ratio 3.89
Portfolio P/E Ratio 22.90
Avg Credit Rating GOI/Cash

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 Reserve Bank of India 364-D 20/01/2022 Treasury Bills SOV 0.00 - 10.02 10.02
new Reserve Bank of India 91-D 17/03/2022 Treasury Bills SOV 0.00 - 9.97 9.97
equal HDFC Bank Fixed Deposits -- 0.00 - 4.01 4.01

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
equal Adani Ports and Special Economic Zone Services 29.75 10.44 0.00 10.44
equal Adani Enterprises Services 200.44 9.81 0.00 8.92
up ITC FMCG 19.03 8.76 0.00 6.16
down Tata Consultancy Services Technology 38.48 8.24 0.00 5.29
down HCL Technologies Technology 29.56 8.82 0.00 3.71
new Larsen & Toubro Construction 32.41 6.44 0.00 3.50
up Reliance Industries Energy 32.63 13.05 0.00 3.21
new Tech Mahindra Technology 31.87 4.33 0.00 3.02
equal Multi Commodity Exchange Of India Services 44.08 10.03 0.00 2.89
equal Jindal Steel & Power Metals 6.09 4.79 0.00 2.84
equal Tata Steel Metals 4.74 10.12 0.00 2.47
down Indusind Bank Financial 17.65 8.31 0.00 2.41
new Bharti Airtel Communication 136.71 9.78 0.00 2.09
equal Hindustan Unilever FMCG 64.66 6.34 0.00 1.99
equal Axis Bank Financial 22.37 8.38 0.00 1.63
down Pidilite Industries Chemicals 101.17 1.87 0.00 1.11
down HDFC Asset Management Company Financial 37.13 2.00 0.00 0.98
new ICICI Prudential Life Insurance Co. Ltd. Insurance 129.94 1.93 0.00 0.93
new Indus Towers Communication 13.72 3.68 0.00 0.84
new Cadila Healthcare Healthcare 9.05 2.21 0.00 0.53
new Kotak Mahindra Bank Financial 37.87 3.17 0.00 0.43
down Eicher Motors Automobile 44.54 3.31 0.00 0.36
new Bajaj Finance Financial 76.73 5.76 0.00 0.35
equal Grasim Industries Construction 19.42 3.17 0.00 0.31
new Infosys Technology 36.53 2.34 0.00 0.11

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-Dec-2021

Fund Manager

— Asit Bhandarkar since 25-Jul-2014

Education: Mr. Bhandarkar is a B.Com (H) and MMS.

Experience: Prior to joining JM Financial he has worked with Lotus India AMC Pvt. Ltd. and SBI Funds Management Pvt. Ltd.

Interviews:

Funds Managed:

— Chaitanya Choksi since 01-Feb-2011

Education: Mr. Choksi is a MMS (Finance) and CFA.

Experience: Prior to joining JM Financials he has worked with Lotus AMC, Chanrai Finance Pvt. Ltd, IL&FS Investmart and UTI Investment Advisory Services Ltd.

Funds Managed:

— Sanjay Kumar Chhabaria since 25-Jul-2014

Education: He is a PGDBA and CFA.

Experience: Prior to joining JM Financials he has worked with Lotus India AMC, SBI Funds Management, Religare Invesco AMC, SMIFS Securities and IDBI Capital Markets.

Funds Managed:


0.10%

Change from previous, NAV as on 18-Jan-2022

Growth: ₹ 26.6836

Quarterly Bonus: ₹ 26.9875

More

IDCW Yearly: ₹ 11.7887

IDCW Quarterly: ₹ 12.0509

IDCW Monthly: ₹ 10.4910

IDCW Half Yearly: ₹ 11.8749

IDCW: ₹ 12.3848

Half Yearly Bonus: ₹ 26.9875

Annual Bonus: ₹ 26.9418


Investment Strategy

The scheme aims 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.

Investment Details

Min. Investment (₹) 5,000
Min. Addl Investment (₹) 1,000
Min. SIP Investment (₹) 500
Min. No of Cheques 12
Min. Withdrawal (₹) 500
Min. Balance (₹) 5,000
Lock-in Period Not Applicable
Exit Load 0.5% for redemption within 30 days

Basic Details

Fund House: JM Financial Mutual Fund
Launch Date: 18-Jul-2006
Return Since Launch: 6.53%
Benchmark: NIFTY 50 Arbitrage TRI
Riskometer: Low
Type: Open-ended
Assets: ₹ 50 Cr (As on 31-Dec-2021)
Expense: 0.92% (As on 31-Dec-2021)
Risk Grade: High
Return Grade: Low
Turnover: 1,172.33%

Most Recent Dividends

Plan Record Date Dividend (₹ / Unit)  
IDCW Monthly20-Mar-20203.0989

 07-Mar-20190.0443
IDCW Half Yearly19-Nov-20180.0443

 06-Nov-20171.9500
IDCW Quarterly19-Nov-20180.0443

 19-Jul-20171.8000
IDCW27-Mar-20180.0500

 28-Nov-20170.0400
 23-Oct-20170.0600
 29-Aug-20170.0400
 31-Jul-20170.0400
 27-Jun-20170.0500
 22-May-20170.0300
 03-May-20170.0300
 25-Mar-20170.0800
 16-Jan-20170.0900
 28-Nov-20160.0800
 24-Sep-20160.0500
 31-Aug-20160.0500
 25-Jul-20160.0600
 29-Jun-20160.0500
 30-May-20160.0500
 26-Apr-20160.0600
 30-Mar-20160.0600
 23-Feb-20160.0600
 27-Jan-20160.0600
 26-Dec-20150.0500
 23-Nov-20150.0500
 26-Oct-20150.0500
 21-Sep-20150.0500
 24-Aug-20150.0650
IDCW Yearly20-Mar-20182.1500

Contact Information

AMC: JM Financial Asset Management Ltd.

Address: Office B-8th Floor-Cnergy, Appasaheb Marathe Marg, Prabhadevi, Mumbai - 400025

Phone: 022-33797777 / 1800-103-8345

Fax: 022-26528388

Email: [email protected]

Website: http://www.JMFinancialmf.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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