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3 star

DSP Arbitrage Fund - Regular Plan


Hybrid: Arbitrage

1 Lakh

Investment Grown to
₹ 1.16 Lakh

₹ 10000

Monthly SIP Grown to
₹ 3.85 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 0.93 0.00 0.20 0.55 0.88 1.63 3.58 5.15 -- -- --
CCIL T Bill Liquidity Weight 0.54 0.02 0.02 0.20 0.49 0.99 2.47 3.65 -- -- --
Hybrid: Arbitrage 0.96 -0.01 0.19 0.54 0.94 1.60 3.29 4.88 -- -- --
Rank within category 19 7 10 15 19 19 14 9 -- -- --
Number of funds in category 27 27 27 27 27 27 25 18 15 10 10

As on 16-Apr-2021

Peer Comparison

Fund name Rating Launch Date 1-Year Return 3-Year Return 5-Year Return Expense Ratio Assets (Cr)
DSP Arbitrage Fund - Regular Plan  | Invest Online
3 star
Jan-18 3.58 5.15 -- 0.97 1,151
Kotak Equity Arbitrage Fund Regular Plan  | Invest Online
5 star
Sep-05 3.99 5.35 5.68 1.00 17,835
Nippon India Arbitrage Fund  | Invest Online
4 star
Oct-10 3.90 5.35 5.70 1.01 10,211
UTI Arbitrage Fund - Regular Plan  | Invest Online
4 star
Jun-06 4.00 5.34 5.63 0.95 3,843
Edelweiss Arbitrage Fund - Regular Plan  | Invest Online
5 star
Jun-14 3.71 5.34 5.68 1.09 3,707

Best & Worst Performance

Best Performance Worst Performance
Return (%) Period Return (%) Period
Week 0.67 25-Mar-2020 - 01-Apr-2020 -0.51 29-May-2020 - 05-Jun-2020
Month 0.94 25-Mar-2020 - 24-Apr-2020 -0.24 29-May-2020 - 29-Jun-2020
Quarter 2.19 09-Apr-2019 - 09-Jul-2019 0.03 29-May-2020 - 28-Aug-2020
Year 6.92 21-Aug-2018 - 22-Aug-2019 2.92 16-Mar-2020 - 16-Mar-2021

Risk Measures (%)

Mean Std Dev Sharpe Sortino Beta Alpha
Fund 5.02 0.82 0.67 0.96 0.90 1.33
CCIL T Bill Liquidity Weight 3.60 0.37 -2.39 -5.59 -- --
Hybrid: Arbitrage 4.77 0.95 0.52 0.82 0.88 1.06
Rank within category 9 9 9 10 12 9
Number of funds in category 18 18 18 18 18 18

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

As on 31-Mar-2021

Asset Allocation (%)

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Concentration & Valuation

Number of Stocks 76
Top 10 Holdings (%) 63.86
Top 5 Holdings (%) 41.40
Top 3 Sectors (%) --
Portfolio P/B Ratio 2.09
Portfolio P/E Ratio 24.43
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
new 8.20% GOI 15/02/2022 Central Government Loan SOV 0.00 - 14.57 14.57
equal Reserve Bank of India 364-D 29/04/2021 Treasury Bills SOV 0.00 - 9.80 8.67
equal Reserve Bank of India 364-D 15/04/2021 Treasury Bills SOV 0.00 - 2.94 2.60
equal Reserve Bank of India 364-D 10/06/2021 Treasury Bills SOV 0.00 - 0.98 0.86

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 ICICI Bank Financial 26.24 8.38 0.00 6.19
up Indusind Bank Financial 27.74 8.41 0.00 5.99
up Bharti Airtel Communication -- 8.29 0.00 5.98
down Adani Enterprises Services 166.59 5.52 0.00 5.52
equal HDFC Financial 25.70 7.10 0.00 5.22
down Reliance Industries Energy 30.45 8.48 0.00 5.20
up Jindal Steel & Power Metals 20.39 5.30 0.00 3.92
new State Bank of India Financial 12.75 2.48 0.00 2.48
equal Aurobindo Pharma Healthcare 10.51 4.65 0.00 2.18
up Piramal Enterprises Healthcare 186.01 2.08 0.00 2.08
new Infosys Technology 30.00 5.39 0.00 1.73
up Adani Ports and Special Economic Zone Services 36.23 1.68 0.00 1.68
up Tata Steel Metals -- 2.13 0.00 1.64
up Axis Bank Financial 66.36 3.25 0.00 1.61
equal Grasim Industries Construction 21.53 3.62 0.16 1.59
down Federal Bank Financial 9.75 2.03 0.00 1.58
up Zee Entertainment Services -- 3.69 0.00 1.31
new UPL Chemicals 18.83 1.49 0.00 1.17
up Canara Bank Financial -- 1.08 0.00 1.08
new BPCL Energy 22.06 1.72 0.00 0.88
equal Tata Power Energy 26.29 0.76 0.00 0.71
new Bajaj Finance Financial 67.10 4.34 0.00 0.64
up Tech Mahindra Technology 23.35 3.96 0.00 0.58
up Asian Paints Chemicals 89.74 1.97 0.00 0.57
equal Larsen & Toubro Construction 16.03 1.41 0.00 0.50

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-Mar-2021

*As on 28-Feb-2021

Fund Manager

— Aayush Ganeriwala since 01-Jan-2021

Education: Mr. Ganeriwala is a B.Com (H), CA, CS, CFA (US), FRM, PGDM (IIM L).

Experience: Prior to joining as fund manager, he was working as DSPIM - Oil & Gas and Metals analyst.

Funds Managed:

— M Suryanarayanan since 01-Sep-2018

Education: M Suryanarayanan is a graduate from IIM Ahemdabad and a CFA holder also a second level candiadate of CAIA.

Experience: Over 14 Years of experience From September 2013 to present: Vice President - DSPIM. From December 2009- August 2013: Senior Equity Research Analyst – Spark Capital Advisors (Pvt) Ltd From November 2007 to November 2009: Offshore Associate - CRISIL, IREVNA From January 2005- October 2007: Manager, Finance – Tata Motors Ltd.

Funds Managed:

— Kedar Karnik since 16-Jun-2020

Education: Mr. Karnik is a BE and has done his Masters in Management Studies from Jamnalal Bajaj Institute of Management Studies.

Experience: Prior to joining DSP Mutual Fund he was associated with Axis Asset Management. He has also worked with HSBC and CRISIL Ltd..

Funds Managed:


0.00

Change from previous, NAV as on 16-Apr-2021

Growth: ₹ 11.7830

IDCW Monthly: ₹ 10.4350

IDCW: ₹ 10.4040


Investment Strategy

The Scheme seeks to generate income through arbitrage opportunities between cash and derivative market and arbitrage opportunities within the derivative market.

Investment Details

Minimum Investment (₹) 500
Minimum Addl Investment (₹) 500
Minimum SIP Investment (₹) 500
Minimum No of Cheques 12
Minimum Withdrawal (₹) --
Minimum Balance (₹) 500
Lock-in Period Not Applicable
Exit Load For units in excess of 10% of the investment,0.25% will be charged for redemption within 30 days

Basic Details

Fund House: DSP Mutual Fund
Launch Date: 25-Jan-2018
Return Since Launch: 5.22%
Benchmark: NIFTY 50 Arbitrage TRI
Riskometer: Low
Type: Open-ended
Assets: ₹ 1,151 Cr (As on 31-Mar-2021)
Expense: 0.97% (As on 28-Feb-2021)
Risk Grade: Average
Return Grade: Average
Turnover: 1,126.00%

Most Recent Dividends

Plan Record Date Dividend (₹ / Unit)  
IDCW23-Mar-20201.0400

 28-Mar-20190.1000
 19-Mar-20180.0270
IDCW Monthly23-Mar-20200.4100

 17-Feb-20200.0354
 14-Jan-20200.0221
 02-Jan-20200.0221
 13-Nov-20190.0354
 15-Oct-20190.0354
 20-Sep-20190.0354
 19-Aug-20190.0266
 18-Jul-20190.0266
 14-Jun-20190.0266
 27-May-20190.0266
 27-Feb-20190.0354
 29-Jan-20190.0354
 31-Dec-20180.0239
 28-Nov-20180.0354
 30-Oct-20180.0354
 28-Sep-20180.0354
 30-Aug-20180.0354
 30-Jul-20180.0354
 28-Jun-20180.0310
 30-May-20180.0266
 26-Apr-20180.0266
 27-Mar-20180.0300
 28-Feb-20180.0220

Contact Information

AMC: DSP Investment Managers Pvt. Ltd.

Address: NATRAJ, Office No. 302-3rd Floor-Plot No. 194, MV Road Junction Western Express Highway, Andheri East Mumbai - 400069

Phone: 022-66178000

Fax: 022-56578181

Website: https://www.dspim.com/

Registrar & Transfer Agent: Computer Age Management Services Ltd.

Address: 7th Floor, Tower II, Rayala Towers, 158, Anna Salai, Chennai - 600002

Phone: 1800-3010-6767 / 1800-419-7676

Fax: 044-30407101

Email: [email protected]

Website: www.camsonline.com

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