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JM Arbitrage Fund Direct Growth
Alternative StrategiesArbitrage FundLow Risk
Direct
NAV (24-Jun-26)
₹36.89-0.06%1D
Returns (Since Inception)
6.41%
Rated ★4.3+ on 
Fund Overview
Fund Size
₹369 Cr
Expense Ratio
0.35%
ISIN
INF192K01BN6
Minimum SIP
₹100
Exit Load
No Charges
Inception Date
01 Jan 2013
About this fund
JM Arbitrage Fund Direct Growth is a Arbitrage Fund mutual fund schemes offered by JM Financial Mutual Fund. This fund has been in existence for 13 years, 5 months and 24 days, having been launched on 01-Jan-13.
As of 24-Jun-26, it has a Net Asset Value (NAV) of ₹36.89, Assets Under Management (AUM) of 369.07 Crores, and an expense ratio of 0.35%.
As of 24-Jun-26, it has a Net Asset Value (NAV) of ₹36.89, Assets Under Management (AUM) of 369.07 Crores, and an expense ratio of 0.35%.
- JM Arbitrage Fund Direct Growth has given a CAGR return of 6.41% since inception.
- The fund's asset allocation comprises around 78.15% in equities, 4.02% in debts, and 17.81% in cash & cash equivalents.
- You can start investing in JM Arbitrage Fund Direct Growth with a SIP of ₹100 or a Lumpsum investment of ₹1000.
Performance against Category Average
In this section, we compare the returns of the scheme with the category average over various periods. Periods for which the fund has outperformed its category average are marked in green, otherwise red.
1 Year
+6.28%
+5.97% (Cat Avg.)
3 Years
+7.13%
+6.86% (Cat Avg.)
5 Years
+6.23%
+6.03% (Cat Avg.)
10 Years
+5.67%
+5.73% (Cat Avg.)
Since Inception
+6.41%
— (Cat Avg.)
Portfolio Summaryas of 31st May 2026
| Equity | ₹288.44 Cr | 78.15% |
| Debt | ₹14.84 Cr | 4.02% |
| Others | ₹65.8 Cr | 17.83% |
Top Holdings
All Holdings
Equity
Debt & Others
| Name | Type  | Amount | Holdings |
|---|---|---|---|
| Ccil | Cash - Repurchase Agreement | ₹21.35 Cr | 5.79% |
| JM Liquid Dir Gr | Mutual Fund - Open End | ₹19.57 Cr | 5.30% |
| HDFC Bank Ltd | Equity | ₹17.73 Cr | 4.80% |
| Kotak Mahindra Bank Ltd | Equity | ₹14.6 Cr | 3.96% |
| ICICI Bank Ltd | Equity | ₹13.72 Cr | 3.72% |
| Bharti Airtel Ltd | Equity | ₹12.94 Cr | 3.51% |
| Vodafone Idea Ltd | Equity | ₹12.8 Cr | 3.47% |
| Tata Steel Ltd | Equity | ₹11.44 Cr | 3.10% |
| Multi Commodity Exchange of India Ltd | Equity | ₹10.34 Cr | 2.80% |
| Eternal Ltd | Equity | ₹9.3 Cr | 2.52% |
| Reliance Industries Ltd | Equity | ₹8.79 Cr | 2.38% |
| Bharat Heavy Electricals Ltd | Equity | ₹8.1 Cr | 2.19% |
| Yes Bank Ltd | Equity | ₹7.34 Cr | 1.99% |
| Adani Ports & Special Economic Zone Ltd | Equity | ₹7.2 Cr | 1.95% |
| Adani Enterprises Ltd | Equity | ₹6.63 Cr | 1.80% |
| LIC Housing Finance Ltd | Equity | ₹5.6 Cr | 1.52% |
| NMDC Ltd | Equity | ₹5.58 Cr | 1.51% |
| Lodha Developers Ltd | Equity | ₹5.49 Cr | 1.49% |
| Shriram Finance Limited | Bond - Corporate Bond | ₹5.03 Cr | 1.36% |
| Tbill | Bond - Gov't/Treasury | ₹4.99 Cr | 1.35% |
| 09/07/2026 Maturing 182 DTB | Bond - Gov't/Treasury | ₹4.97 Cr | 1.35% |
| Tbill | Bond - Gov't/Treasury | ₹4.96 Cr | 1.34% |
| Tbill | Bond - Gov't/Treasury | ₹4.95 Cr | 1.34% |
| Tbill | Bond - Gov't/Treasury | ₹4.93 Cr | 1.34% |
| JSW Steel Ltd | Equity | ₹4.92 Cr | 1.33% |
| Tbill | Bond - Gov't/Treasury | ₹4.88 Cr | 1.32% |
| Varun Beverages Ltd | Equity | ₹4.69 Cr | 1.27% |
| Sammaan Capital Ltd | Equity | ₹4.64 Cr | 1.26% |
| Adani Energy Solutions Ltd | Equity | ₹4.39 Cr | 1.19% |
| Bank of Baroda | Equity | ₹4.01 Cr | 1.09% |
| Steel Authority Of India Ltd | Equity | ₹3.94 Cr | 1.07% |
| Larsen & Toubro Ltd | Equity | ₹3.85 Cr | 1.04% |
| Titan Co Ltd | Equity | ₹3.85 Cr | 1.04% |
| Max Financial Services Ltd | Equity | ₹3.41 Cr | 0.93% |
| Jio Financial Services Ltd | Equity | ₹3.37 Cr | 0.91% |
| Mahindra & Mahindra Ltd | Equity | ₹3.35 Cr | 0.91% |
| Indus Towers Ltd Ordinary Shares | Equity | ₹3.16 Cr | 0.86% |
| Punjab National Bank | Equity | ₹3.14 Cr | 0.85% |
| Net Receivable/Payable | Cash | ₹3.02 Cr | 0.82% |
| Bandhan Bank Ltd | Equity | ₹3 Cr | 0.81% |
| IDFC First Bank Ltd | Equity | ₹2.91 Cr | 0.79% |
| United Spirits Ltd | Equity | ₹2.9 Cr | 0.78% |
| Axis Bank Ltd | Equity | ₹2.73 Cr | 0.74% |
| Bharat Electronics Ltd | Equity | ₹2.69 Cr | 0.73% |
| State Bank of India | Equity | ₹2.68 Cr | 0.73% |
| Grasim Industries Ltd | Equity | ₹2.42 Cr | 0.66% |
| Maruti Suzuki India Ltd | Equity | ₹2.23 Cr | 0.60% |
| Eicher Motors Ltd | Equity | ₹2.22 Cr | 0.60% |
| Indian Hotels Co Ltd | Equity | ₹2.16 Cr | 0.58% |
| 17/07/2026 Maturing 182 DTB | Bond - Gov't/Treasury | ₹1.99 Cr | 0.54% |
| RBL Bank Ltd | Equity | ₹1.97 Cr | 0.53% |
| Adani Green Energy Ltd | Equity | ₹1.95 Cr | 0.53% |
| Canara Bank | Equity | ₹1.94 Cr | 0.53% |
| Biocon Ltd | Equity | ₹1.93 Cr | 0.52% |
| Info Edge (India) Ltd | Equity | ₹1.87 Cr | 0.51% |
| HDFC Life Insurance Co Ltd | Equity | ₹1.83 Cr | 0.50% |
| Adani Power Ltd | Equity | ₹1.81 Cr | 0.49% |
| Shriram Finance Ltd | Equity | ₹1.8 Cr | 0.49% |
| Ambuja Cements Ltd | Equity | ₹1.6 Cr | 0.43% |
| Crompton Greaves Consumer Electricals Ltd | Equity | ₹1.57 Cr | 0.43% |
| Cipla Ltd | Equity | ₹1.47 Cr | 0.40% |
| DLF Ltd | Equity | ₹1.46 Cr | 0.40% |
| Sun Pharmaceuticals Industries Ltd | Equity | ₹1.39 Cr | 0.38% |
| AU Small Finance Bank Ltd | Equity | ₹1.38 Cr | 0.37% |
| Glenmark Pharmaceuticals Ltd | Equity | ₹1.36 Cr | 0.37% |
| Laurus Labs Ltd | Equity | ₹1.27 Cr | 0.35% |
| Patanjali Foods Ltd | Equity | ₹1.27 Cr | 0.34% |
| Manappuram Finance Ltd | Equity | ₹1.17 Cr | 0.32% |
| Waaree Energies Ltd | Equity | ₹1.15 Cr | 0.31% |
| ITC Ltd | Equity | ₹1.15 Cr | 0.31% |
| NBCC India Ltd | Equity | ₹1.11 Cr | 0.30% |
| Hindalco Industries Ltd | Equity | ₹1.1 Cr | 0.30% |
| Nuvama Wealth Management Ltd | Equity | ₹1.09 Cr | 0.29% |
| UPL Ltd | Equity | ₹1.05 Cr | 0.28% |
| Godrej Properties Ltd | Equity | ₹1.02 Cr | 0.28% |
| Divi's Laboratories Ltd | Equity | ₹1 Cr | 0.27% |
| FSN E-Commerce Ventures Ltd | Equity | ₹0.98 Cr | 0.27% |
| ICICI Prudential Life Insurance Co Ltd | Equity | ₹0.98 Cr | 0.27% |
| Hitachi Energy India Ltd Ordinary Shares | Equity | ₹0.96 Cr | 0.26% |
| TVS Motor Co Ltd | Equity | ₹0.94 Cr | 0.25% |
| Bajaj Finserv Ltd | Equity | ₹0.94 Cr | 0.25% |
| Asian Paints Ltd | Equity | ₹0.73 Cr | 0.20% |
| GMR Airports Ltd | Equity | ₹0.7 Cr | 0.19% |
| Tata Power Co Ltd | Equity | ₹0.67 Cr | 0.18% |
| Max Healthcare Institute Ltd Ordinary Shares | Equity | ₹0.66 Cr | 0.18% |
| Kalyan Jewellers India Ltd | Equity | ₹0.63 Cr | 0.17% |
| SBI Life Insurance Co Ltd | Equity | ₹0.62 Cr | 0.17% |
| Swiggy Ltd | Equity | ₹0.57 Cr | 0.15% |
| APL Apollo Tubes Ltd | Equity | ₹0.51 Cr | 0.14% |
| NTPC Ltd | Equity | ₹0.46 Cr | 0.13% |
| InterGlobe Aviation Ltd | Equity | ₹0.46 Cr | 0.13% |
| UltraTech Cement Ltd | Equity | ₹0.4 Cr | 0.11% |
| CG Power & Industrial Solutions Ltd | Equity | ₹0.39 Cr | 0.11% |
| Rail Vikas Nigam Ltd | Equity | ₹0.37 Cr | 0.10% |
| Dabur India Ltd | Equity | ₹0.33 Cr | 0.09% |
| REC Ltd | Equity | ₹0.33 Cr | 0.09% |
| Hindustan Aeronautics Ltd Ordinary Shares | Equity | ₹0.32 Cr | 0.09% |
| Coforge Ltd | Equity | ₹0.32 Cr | 0.09% |
| Amber Enterprises India Ltd Ordinary Shares | Equity | ₹0.3 Cr | 0.08% |
| UNO Minda Ltd | Equity | ₹0.3 Cr | 0.08% |
| PNB Housing Finance Ltd | Equity | ₹0.27 Cr | 0.07% |
| Hindustan Unilever Ltd | Equity | ₹0.26 Cr | 0.07% |
| Aurobindo Pharma Ltd | Equity | ₹0.24 Cr | 0.06% |
| Hindustan Zinc Ltd | Equity | ₹0.23 Cr | 0.06% |
| Union Bank of India | Equity | ₹0.22 Cr | 0.06% |
| Prestige Estates Projects Ltd | Equity | ₹0.18 Cr | 0.05% |
| HDFC Asset Management Co Ltd | Equity | ₹0.16 Cr | 0.04% |
| Sona BLW Precision Forgings Ltd | Equity | ₹0.15 Cr | 0.04% |
| Hero MotoCorp Ltd | Equity | ₹0.15 Cr | 0.04% |
| Bharat Petroleum Corp Ltd | Equity | ₹0.12 Cr | 0.03% |
| Apollo Hospitals Enterprise Ltd | Equity | ₹0.1 Cr | 0.03% |
| Indian Energy Exchange Ltd | Equity | ₹0.1 Cr | 0.03% |
| Cholamandalam Investment and Finance Co Ltd | Equity | ₹0.1 Cr | 0.03% |
| Delhivery Ltd | Equity | ₹0.09 Cr | 0.03% |
| Bank of India | Equity | ₹0.07 Cr | 0.02% |
| Bajaj Finance Ltd | Equity | ₹0.07 Cr | 0.02% |
| Inox Wind Ltd | Equity | ₹0.07 Cr | 0.02% |
Allocation By Market Cap (Equity)
Large Cap Stocks
50.68%
Mid Cap Stocks
21.75%
Small Cap Stocks
5.72%
Allocation By Credit Quality (Debt)
AAA
Other Allocation
Equity Sector
Debt & Others
| Sector | Amount | Holdings |
|---|---|---|
| Financial Services | ₹114.26 Cr | 30.96% |
| Basic Materials | ₹33.93 Cr | 9.19% |
| Communication Services | ₹30.77 Cr | 8.34% |
| Consumer Cyclical | ₹28.7 Cr | 7.78% |
| Industrials | ₹26.32 Cr | 7.13% |
| Energy | ₹15.53 Cr | 4.21% |
| Consumer Defensive | ₹10.6 Cr | 2.87% |
| Healthcare | ₹9.42 Cr | 2.55% |
| Utilities | ₹9.29 Cr | 2.52% |
| Real Estate | ₹8.15 Cr | 2.21% |
| Technology | ₹1.47 Cr | 0.40% |
Risk & Performance Ratios
Standard Deviation
This fund
0.49%
Cat. avg.
0.61%
Lower the better
Sharpe Ratio
This fund
1.21
Cat. avg.
0.68
Higher the better
Sortino Ratio
This fund
--
Cat. avg.
1.38
Higher the better
Fund Managers
SR
Satish Ramanathan
Since October 2024
AB
Asit Bhandarkar
Since July 2014
RF
Ruchi Fozdar
Since October 2024
DG
Deepak Gupta
Since April 2025
Additional Scheme Detailsas of 31st May 2026
ISIN INF192K01BN6 | Expense Ratio 0.35% | Exit Load No Charges | Fund Size ₹369 Cr | Age 13 years 5 months | Lumpsum Minimum ₹1,000 | Fund Status Open Ended Investment Company | Benchmark NIFTY 50 Arbitrage TR INR |
Investment Objective
To seek to generate long-term capital growth from an actively managed portfolio primarily of Equity and Equity Related Securities. Scheme shall invest in Indian equities,foreign equities and related instruments and debt securities.
Tax Treatment
Capital Gains Taxation:
Dividend Taxation:
Note: As per the Income Tax Budget 2024, mutual funds are subject to capital gains taxation, which includes surcharge and cess based on prevailing income tax rules and the investor’s income. Taxation applies only to realised gains, not notional gains. Please consult your tax advisors to determine the implications or consequences of your investments in such securities.
Similar Arbitrage Fund Funds
About the AMC
JM Financial Mutual Fund
Total AUM
₹13,539 Cr
Address
502, 5th Floor, A - Wing, Mumbai, 400 051
Other Funds by JM Financial Mutual Fund
| Fund name | Expense Ratio | Exit Load | Fund size | 1Y  |
|---|---|---|---|---|
| JM Multi Asset Allocation Fund Direct Growth High Risk | - | 1.0% | - | - |
| JM Large & Mid Cap Fund Direct Growth Very High Risk | 0.7% | 1.0% | ₹419.59 Cr | - |
| JM Overnight Fund Direct Growth Low Risk | 0.1% | 0.0% | ₹309.87 Cr | 5.2% |
| JM Small Cap Fund Direct Growth Very High Risk | 0.7% | 1.0% | ₹729.63 Cr | 13.3% |
| JM Fixed Maturity Fund Series 28 Plan B Direct Growth Moderate Risk | - | 0.0% | - | - |
| JM Fixed Maturity Fund Series 28 Plan A Direct Growth Moderate Risk | - | 0.0% | - | - |
| JM Arbitrage Fund Direct Growth Low Risk | 0.3% | 0.0% | ₹369.07 Cr | 6.3% |
| JM Equity Hybrid Fund Direct Growth Very High Risk | 0.7% | 1.0% | ₹691.85 Cr | -2.9% |
| JM Focused Fund Direct Growth Very High Risk | 0.7% | 1.0% | ₹278.72 Cr | 2.2% |
| JM Value Fund Direct Growth Very High Risk | 1.0% | 1.0% | ₹805.09 Cr | -1.1% |
| JM Low Duration Fund Direct Growth Low to Moderate Risk | 0.3% | 0.0% | ₹226.58 Cr | 6.2% |
| JM Large Cap Fund Direct Growth Very High Risk | 0.8% | 1.0% | ₹415.75 Cr | 0.2% |
| JM Liquid Fund Direct Growth Low to Moderate Risk | 0.1% | 0.0% | ₹2146.56 Cr | 6.2% |
| JM Dynamic Bond Fund Direct Growth Moderate Risk | 0.4% | 0.0% | ₹52.99 Cr | 3.5% |
| JM Medium to Long Duration Fund Direct Growth Moderate Risk | 0.5% | 0.0% | ₹29.83 Cr | 3.3% |
| JM Flexicap Fund Direct Growth Very High Risk | 0.6% | 1.0% | ₹5068.70 Cr | 1.8% |
| JM Tax Gain Fund Direct Growth Very High Risk | 0.9% | 0.0% | ₹222.93 Cr | 6.0% |
| JM Midcap Fund Direct Growth Very High Risk | 0.6% | 1.0% | ₹1217.01 Cr | 11.6% |
| JM Overnight Fund Direct Growth Low Risk | 0.1% | 0.0% | ₹200.81 Cr | 6.8% |
| JM Short Duration Fund Direct Growth Low to Moderate Risk | 0.3% | 0.0% | ₹79.59 Cr | 5.3% |
Risk Level
Your principal amount will be at Low Risk
Take control of your wealth
Related Articles
Still got questions?
We're here to help.
What is the current NAV of JM Arbitrage Fund Direct Growth?
The NAV of JM Arbitrage Fund Direct Growth, as of 24-Jun-2026, is ₹36.89.
What are the returns of JM Arbitrage Fund Direct Growth?
The fund has generated 6.28% over the last 1 year and 7.13% over the last 3 years. However, this does not guarantee that the fund will perform similarly in the future.
What is the portfolio composition of JM Arbitrage Fund Direct Growth?
The fund's allocation of assets is distributed as 78.15% in equities, 4.02% in bonds, and 17.81% in cash and cash equivalents.
Who manages the JM Arbitrage Fund Direct Growth?
The fund managers responsible for JM Arbitrage Fund Direct Growth are:-
- Satish Ramanathan
- Asit Bhandarkar
- Ruchi Fozdar
- Deepak Gupta
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Disclaimer: Mutual Fund investments are subject to market risks, read all scheme-related documents carefully. The NAVs of the schemes may go up or down depending upon the factors and forces affecting the securities market including the fluctuations in the interest rates. The past performance of the mutual funds is not necessarily indicative of the future performance of the schemes. Investors are requested to review the prospectus carefully and obtain expert professional advice with regard to specific legal, tax and financial implications of the investment/participation in the scheme.
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Mutual Fund distribution services are offered through Dezerv Distribution Services Pvt Limited, a wholly owned subsidiary with AMFI Registration No.: ARN -248439. **Mutual fund investments are subject to market risks, read all scheme related documents carefully.** Terms and conditions of the website are applicable. Privacy policy of the website is applicable.
Dezerv Investments Pvt. Ltd. is a Portfolio Manager with SEBI Registration no. INP000007377, a member of BSE with SEBI Stock Broker Registration no. INZ000303136, and an Investment Manager to Category - I AIF-VCF-Angel Fund with SEBI Registration no. IN/AIF1/22-23/1066.
Mutual Fund distribution services are offered through Dezerv Distribution Services Pvt Limited, a wholly owned subsidiary with AMFI Registration No.: ARN -248439. **Mutual fund investments are subject to market risks, read all scheme related documents carefully.** Terms and conditions of the website are applicable. Privacy policy of the website is applicable.
