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JM Arbitrage Fund


1 Lakh

Investment Grown to
₹ 1.16 Lakh

₹ 10000

Monthly SIP Grown to
₹ 3.88 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 1.14 -0.04 0.16 0.35 0.94 2.16 5.22 5.22 5.75 6.55 7.04
CCIL T Bill Liquidity Weight 1.06 0.04 0.19 0.48 1.06 1.96 4.08 4.14 4.40 4.76 4.73
Hybrid: Arbitrage 1.58 0.01 0.20 0.53 1.34 2.71 6.03 5.78 6.19 6.83 7.17
Rank within category 21 23 20 19 21 21 19 15 14 9 7
Number of funds in category 23 24 24 24 23 23 22 16 14 9 8

As on 03-Apr-2020

Best & Worst Performance

Best (Period) Worst (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) 3.62 (06-Jul-2009 - 06-Jul-2010)

Risk Measures (%)

Mean Std Dev Sharpe Sortino Beta Alpha
Fund 5.12 0.69 -0.62 -1.23 -0.68 -1.44
CCIL T Bill Liquidity Weight 4.07 0.27 -5.49 -9.70 -- --
Hybrid: Arbitrage 5.65 0.72 0.43 0.89 0.30 0.54
Rank within category 16 16 16 17 1 17
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-Mar-2020

Asset Allocation (%)

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Concentration & Valuation

Number of Stocks 26
Top 10 Holdings (%) 60.78
Top 5 Holdings (%) 42.07
Top 3 Sectors (%) 44.11
Portfolio P/B Ratio 1.27
Portfolio P/E Ratio 10.20

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 Axis Bank Term Deposits -- 0.00 - 20.43 19.30
equal HDFC Bank Term Deposits -- 0.00 - 4.60 3.27

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
new Power Finance Corp. Financial 2.41 7.09 0.00 7.09
new ITC FMCG 14.59 6.42 0.00 6.42
new Hero Motocorp Automobile 8.31 5.02 0.00 5.02
up Vedanta Metals 2.76 4.58 0.00 4.23
new Bharti Airtel Communication -- 4.11 0.00 4.11
down Hindustan Unilever FMCG 68.52 4.48 0.00 3.83
up Maruti Suzuki India Automobile 19.60 3.80 0.00 3.80
new Canara Bank Financial 16.70 3.66 0.00 3.66
new Divi's Laboratories Healthcare 39.72 3.30 0.00 3.30
new Kotak Mahindra Bank Financial 24.98 3.17 0.00 3.17
new Tech Mahindra Technology 11.53 2.92 0.00 2.92
new Axis Bank Financial 19.19 5.02 0.00 2.73
new Vodafone Idea Communication -- 2.46 0.00 2.46
new State Bank of India Financial 13.34 2.37 0.00 2.37
new Bajaj Auto Automobile 11.17 3.52 0.00 2.36
new REC Financial 2.92 3.79 0.00 1.85
down Adani Ports and Special Economic Zone Services 10.56 2.12 0.00 1.54
equal Indusind Bank Financial 4.83 13.41 0.00 1.44
new DLF Construction 19.12 1.41 0.00 1.41
up ACC Construction 13.11 1.29 0.00 1.29
down Tata Power Energy 12.42 1.90 0.00 0.62
new Jubilant FoodWorks Services 52.69 0.83 0.00 0.43
new Cholamandalam Invest. & Fin. Financial 7.80 0.28 0.00 0.25
new GMR Infrastructure Construction -- 1.49 0.00 0.15
new Federal Bank Financial 4.76 0.62 0.00 0.10

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 29-Feb-2020

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 in 2008 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:


-0.04%

Change from previous, NAV as on 03-Apr-2020

Growth: ₹ 25.5421

Quarterly Bonus: ₹ 25.8351

More

Half Yearly Bonus: ₹ 25.8351

Dividend Yearly: ₹ 11.2844

Dividend Quarterly: ₹ 11.5357

Dividend Monthly: ₹ 10.0387

Dividend Half Yearly: ₹ 11.3671

Dividend: ₹ 11.8550

Bonus: ₹ 13.8860

Annual Bonus: ₹ 25.7911


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

Minimum Investment (₹) 5,000
Minimum Addl Investment (₹) 1,000
Minimum SIP Investment (₹) 500
Minimum No of Cheques 12
Minimum Withdrawal (₹) 500
Minimum Balance (₹) 5,000
Exit Load 1% for redemption within 60 days

Basic Details

Fund House: JM Financial Mutual Fund
Launch Date: 18-Jul-2006
Return Since Launch: 7.07%
Benchmark: NIFTY 50 Arbitrage
Riskometer: Moderately Low
Type: Open-ended
Assets: ₹ 61 Cr (As on 29-Feb-2020)
Expense: 0.94% (As on 30-Sep-2019)
Risk Grade: High
Return Grade: Low
Turnover: --

Most Recent Dividends

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

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

 06-Nov-20171.9500
Dividend Quarterly19-Nov-20180.0443

 19-Jul-20171.8000
Dividend27-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
Dividend 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: 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

Last Session

Investors' Hangout

5 ways to deal with market panic

dateFriday, 20-Mar-2020
time12:30 PM - 01:00 PM

Registration Over