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Unrated

DSP Arbitrage Fund - Direct Plan


Hybrid: Arbitrage

1 Lakh

Investment Grown to
₹ 1.05 Lakh

₹ 10000

Monthly SIP Grown to
₹ 1.23 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 2.97 0.07 0.01 0.24 0.79 2.08 5.37 -- -- -- --
CCIL T Bill Liquidity Weight 2.20 0.01 0.05 0.18 0.64 1.81 3.71 -- -- -- --
Hybrid: Arbitrage 2.85 0.07 -0.02 0.21 0.68 2.05 5.10 -- -- -- --
Rank within category 13 13 5 17 13 15 13 -- -- -- --
Number of funds in category 24 26 26 26 25 25 23 17 15 9 0

As on 06-Aug-2020

Peer Comparison

Fund name Rating Launch Date 1-Year Return 3-Year Return 5-Year Return Expense Ratio Assets (Cr)
DSP Arbitrage Fund - Direct Plan  | Invest Online
Unrated
Jan-18 5.37 -- -- 0.35 1,146
Kotak Equity Arbitrage Fund - Direct Plan  | Invest Online
5 star
Jan-13 5.51 6.40 6.57 0.45 15,853
Nippon India Arbitrage Fund - Direct Plan
4 star
Jan-13 5.68 6.70 6.74 0.31 7,847
Aditya Birla Sun Life Arbitrage Fund - Direct Plan  | Invest Online
4 star
Jan-13 5.53 6.39 6.53 0.32 4,387
Edelweiss Arbitrage Fund - Direct Plan  | Invest Online
5 star
Jun-14 6.01 6.65 6.80 0.35 3,708

Best & Worst Performance

Best (Period) Worst (Period)
Week 0.68 (25-Mar-2020 - 01-Apr-2020) -0.50 (29-May-2020 - 05-Jun-2020)
Month 0.99 (25-Mar-2020 - 24-Apr-2020) -0.20 (29-May-2020 - 29-Jun-2020)
Quarter 2.34 (09-Apr-2019 - 09-Jul-2019) 0.76 (30-Apr-2020 - 31-Jul-2020)
Year 7.56 (21-Aug-2018 - 22-Aug-2019) 5.17 (30-Jul-2019 - 29-Jul-2020)

Risk Measures (%)

Mean Std Dev Sharpe Sortino Beta Alpha
Fund -- -- -- -- -- --
CCIL T Bill Liquidity Weight* 4.03 0.29 -4.08 -7.51 -- --
Hybrid: Arbitrage* 5.92 0.91 1.07 1.39 0.74 1.58
Rank within category -- -- -- -- -- --
Number of funds in category -- -- -- -- -- --

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

As on

* As on 31-Jul-2020

Asset Allocation (%)

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Concentration & Valuation

Number of Stocks 62
Top 10 Holdings (%) 45.73
Top 5 Holdings (%) 30.56
Top 3 Sectors (%) 0.17
Portfolio P/B Ratio 1.37
Portfolio P/E Ratio 13.88

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 HDFC Bank 95-D 04/09/2020 Fixed Deposits Unrated 0.00 - 2.30 2.30
equal 8.15% REC 18/01/2021 Bonds/Debentures AAA 0.00 - 4.32 2.26
new Export-Import Bank 2021 Certificate of Deposit A1+ 0.00 - 1.70 1.70
equal Punjab National Bank 366-D 01/10/2020 Fixed Deposits Unrated 0.00 - 1.86 1.37
equal Punjab National Bank 366-D 31/10/2020 Fixed Deposits Unrated 0.00 - 1.72 1.27
equal HDFC Bank 94-D 14/08/2020 Fixed Deposits Unrated 0.00 - 0.95 0.92
equal HDFC Bank 96-D 17/08/2020 Fixed Deposits Unrated 0.00 - 0.95 0.92
equal HDFC Bank 96-D 18/08/2020 Fixed Deposits Unrated 0.00 - 0.95 0.92
equal Punjab National Bank 366-D 19/09/2020 Fixed Deposits Unrated 0.00 - 1.43 0.91
equal Punjab National Bank 366-D 25/09/2020 Fixed Deposits Unrated 0.00 - 1.43 0.91
equal Punjab National Bank 366-D 25/10/2020 Fixed Deposits Unrated 0.00 - 1.23 0.91
equal Punjab National Bank 366-D 24/10/2020 Fixed Deposits Unrated 0.00 - 0.99 0.73
equal 7.20% HDFC 2020 Debenture AAA 0.00 - 0.63 0.47
equal HDFC Bank 95-D 13/07/2020 Fixed Deposits Unrated 0.00 - 0.56 0.46
equal HDFC Bank 186-D 12/10/2020 Fixed Deposits Unrated 0.00 - 0.56 0.46
equal HDFC Bank 93-D 15/07/2020 Fixed Deposits Unrated 0.00 - 0.55 0.46
equal HDFC Bank 96-D 19/08/2020 Fixed Deposits Unrated 0.00 - 0.48 0.46
new HDFC Bank 95-D 13/09/2020 Fixed Deposits Unrated 0.00 - 0.46 0.46
equal ICICI Bank 367-D 09/11/2020 Fixed Deposits Unrated 0.00 - 0.62 0.45
equal ICICI Bank 366-D 11/11/2020 Fixed Deposits Unrated 0.00 - 0.62 0.45
equal Axis Bank 391-D 07/10/2020 Fixed Deposits Unrated 0.00 - 0.71 0.45
equal Axis Bank 391-D 08/10/2020 Fixed Deposits Unrated 0.00 - 0.71 0.45
equal ICICI Bank 366-D 13/11/2020 Fixed Deposits Unrated 0.00 - 0.25 0.18
equal ICICI Bank 367-D 07/12/2020 Fixed Deposits Unrated 0.00 - 0.24 0.18
equal Bank of Baroda 367-D 07/12/2020 Fixed Deposits Unrated 0.00 - 0.24 0.18

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 Indusind Bank Financial 9.99 7.38 0.00 7.38
down ICICI Bank Financial 22.79 6.53 0.00 6.03
down Hindustan Unilever FMCG 75.78 6.00 0.00 6.00
up Bharti Airtel Communication -- 5.96 0.00 5.95
down HDFC Financial 14.05 7.10 0.00 5.20
down Vedanta Metals -- 4.42 0.00 4.42
up Aurobindo Pharma Healthcare 18.77 3.47 0.00 3.41
up Vodafone Idea Communication -- 4.34 0.00 2.78
up Axis Bank Financial 72.28 3.25 0.00 2.10
up Jindal Steel & Power Metals 315.27 5.30 0.00 1.99
down Reliance Industries Energy 34.17 8.48 0.00 1.97
down Ambuja Cements Construction 21.93 1.61 0.00 1.40
down Grasim Industries Construction 9.46 3.70 0.00 1.38
down BHEL Engineering -- 1.35 0.00 1.35
up Adani Enterprises Services 37.40 1.22 0.00 1.22
up Federal Bank Financial 6.74 1.80 0.00 1.08
down Manappuram Finance Financial 8.72 1.10 0.00 1.04
down DLF Construction -- 6.78 0.00 0.98
up Zee Entertainment Services 27.40 3.69 0.00 0.94
down Adani Ports and Special Economic Zone Services 17.64 1.18 0.00 0.89
new Bharti Infratel Communication 11.43 1.42 0.00 0.81
down Wipro Technology 16.29 0.92 0.00 0.78
down BPCL Energy 29.80 1.72 0.00 0.45
down Bajaj Auto Automobile 18.90 1.00 0.00 0.44
new Shriram Transport Finance Financial 6.82 1.72 0.00 0.43

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 30-Jun-2020

Fund Manager

— 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: He has been working with DSP mutual fund from last 4 years, before joining DSPBR he worked with Anand Rathi Securities for 3 Years.

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:


0.07%

Change from previous, NAV as on 06-Aug-2020

Growth: ₹ 11.6910

Dividend Monthly: ₹ 10.5670

Dividend: ₹ 10.2610


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 6
Minimum Withdrawal (₹) --
Minimum Balance (₹) 500
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: 6.37%
Benchmark: NIFTY 50 Arbitrage
Riskometer: Moderately Low
Type: Open-ended
Assets: ₹ 1,146 Cr (As on 30-Jun-2020)
Expense: 0.35% (As on 30-Jun-2020)
Risk Grade: --
Return Grade: --
Turnover: 1,303.00%

Most Recent Dividends

Plan Record Date Dividend (₹ / Unit)  
Dividend23-Mar-20201.0400

 28-Mar-20190.1620
 19-Mar-20180.0300
Dividend Monthly23-Mar-20200.2200

 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-20180.0354
 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-20180.0240

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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