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Parag Parikh Arbitrage Fund Direct Growth
Alternative StrategiesArbitrage FundLow Risk
Direct
NAV (12-Oct-26)
₹12.210.16%1D
Returns (Since Inception)
6.95%
Rated ★4.3+ on 
Fund Overview
Fund Size
₹2,799 Cr
Expense Ratio
1.00%
ISIN
INF879O01225
Minimum SIP
₹1,000
Exit Load
No Charges
Inception Date
23 Oct 2023
About this fund
Parag Parikh Arbitrage Fund Direct Growth is a Arbitrage Fund mutual fund schemes offered by PPFAS Mutual Fund. This fund has been in existence for 2 years, 11 months and 20 days, having been launched on 23-Oct-23.
As of 12-Oct-26, it has a Net Asset Value (NAV) of ₹12.21, Assets Under Management (AUM) of 2798.93 Crores, and an expense ratio of 1%.
As of 12-Oct-26, it has a Net Asset Value (NAV) of ₹12.21, Assets Under Management (AUM) of 2798.93 Crores, and an expense ratio of 1%.
- Parag Parikh Arbitrage Fund Direct Growth has given a CAGR return of 6.95% since inception.
- The fund's asset allocation comprises around -0.33% in equities, 2.95% in debts, and 97.35% in cash & cash equivalents.
- You can start investing in Parag Parikh Arbitrage Fund Direct Growth with a SIP of ₹1000 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
+6.60%
+6.07% (Cat Avg.)
Since Inception
+6.95%
— (Cat Avg.)
Portfolio Summaryas of 30th September 2026
| Equity | ₹-9.21 Cr | -0.33% |
| Debt | ₹82.62 Cr | 2.95% |
| Others | ₹2,725.52 Cr | 97.38% |
Top Holdings
All Holdings
Equity
Debt & Others
| Name | Type  | Amount | Holdings |
|---|---|---|---|
| Cash Offset For Derivatives | Cash - General Offset | ₹1,867.1 Cr | 67.90% |
| Parag Parikh Liquid Dir Gr | Mutual Fund - Open End | ₹294.34 Cr | 10.70% |
| Future on HDFC Bank Ltd | Equity - Future | ₹-177.25 Cr | 6.45% |
| HDFC Bank Ltd | Equity | ₹175.56 Cr | 6.38% |
| Future on ICICI Bank Ltd | Equity - Future | ₹-170.62 Cr | 6.20% |
| ICICI Bank Ltd | Equity | ₹169.68 Cr | 6.17% |
| Future on Canara Bank | Equity - Future | ₹-146.57 Cr | 5.33% |
| Canara Bank | Equity | ₹145.28 Cr | 5.28% |
| Future on Reliance Industries Ltd | Equity - Future | ₹-132.59 Cr | 4.82% |
| Reliance Industries Ltd | Equity | ₹132.05 Cr | 4.80% |
| Future on Axis Bank Ltd | Equity - Future | ₹-124.31 Cr | 4.52% |
| Axis Bank Ltd | Equity | ₹124.13 Cr | 4.51% |
| Future on Bharti Airtel Ltd | Equity - Future | ₹-121.76 Cr | 4.43% |
| Bharti Airtel Ltd | Equity | ₹121.1 Cr | 4.40% |
| Kotak Mahindra Bank Ltd | Equity | ₹103.25 Cr | 3.75% |
| Future on Kotak Mahindra Bank Ltd | Equity - Future | ₹-103.22 Cr | 3.75% |
| Small Industries Development Bank Of India | Cash - CD/Time Deposit | ₹95.09 Cr | 3.46% |
| Future on Bharat Heavy Electricals Ltd | Equity - Future | ₹-81.8 Cr | 2.97% |
| Bharat Heavy Electricals Ltd | Equity | ₹81.8 Cr | 2.97% |
| Rep4_300926 | Cash - Repurchase Agreement | ₹69.65 Cr | 2.53% |
| State Bank of India Future Oct 26 | Equity - Future | ₹-65.94 Cr | 2.40% |
| State Bank of India | Equity | ₹65.41 Cr | 2.38% |
| Future on IDFC First Bank Ltd | Equity - Future | ₹-61.83 Cr | 2.25% |
| IDFC First Bank Ltd | Equity | ₹61.71 Cr | 2.24% |
| Tata Steel Ltd Future Oct 26 | Equity - Future | ₹-57.31 Cr | 2.08% |
| Tata Steel Ltd | Equity | ₹56.76 Cr | 2.06% |
| Canara Bank | Cash - CD/Time Deposit | ₹49.42 Cr | 1.80% |
| HDFC Bank Limited | Cash - CD/Time Deposit | ₹49.31 Cr | 1.79% |
| Canara Bank | Cash - CD/Time Deposit | ₹49.11 Cr | 1.79% |
| Indian Bank | Cash - CD/Time Deposit | ₹49.07 Cr | 1.78% |
| National Bank For Agriculture And Rural Development | Cash - CD/Time Deposit | ₹48.91 Cr | 1.78% |
| Small Industries Dev Bank Of India | Cash - CD/Time Deposit | ₹48.63 Cr | 1.77% |
| Indian Bank | Bond - Gov't Agency Debt | ₹47.58 Cr | 1.73% |
| Future on Bharat Electronics Ltd | Equity - Future | ₹-47.31 Cr | 1.72% |
| Bharat Electronics Ltd | Equity | ₹47.25 Cr | 1.72% |
| Future on UltraTech Cement Ltd | Equity - Future | ₹-46.53 Cr | 1.69% |
| UltraTech Cement Ltd | Equity | ₹46.51 Cr | 1.69% |
| NMDC Ltd | Equity | ₹42.26 Cr | 1.54% |
| NMDC Ltd Future Oct 26 | Equity - Future | ₹-42.22 Cr | 1.54% |
| Trp_011026 | Cash - Repurchase Agreement | ₹40.45 Cr | 1.47% |
| Bandhan Bank Ltd Future Oct 26 | Equity - Future | ₹-40.43 Cr | 1.47% |
| Bandhan Bank Ltd | Equity | ₹40.23 Cr | 1.46% |
| Eicher Motors Ltd Future Oct 26 | Equity - Future | ₹-32.1 Cr | 1.17% |
| Eicher Motors Ltd | Equity | ₹31.89 Cr | 1.16% |
| Punjab National Bank Future Oct 26 | Equity - Future | ₹-28.67 Cr | 1.04% |
| Punjab National Bank | Equity | ₹28.49 Cr | 1.04% |
| Future on Sun Pharmaceuticals Industries Ltd | Equity - Future | ₹-27.44 Cr | 1.00% |
| Sun Pharmaceuticals Industries Ltd | Equity | ₹27.21 Cr | 0.99% |
| Future on Hindustan Aeronautics Ltd Ordinary Shares | Equity - Future | ₹-26.32 Cr | 0.96% |
| Hindustan Aeronautics Ltd Ordinary Shares | Equity | ₹26.12 Cr | 0.95% |
| Future on Life Insurance Corporation of India | Equity - Future | ₹-25.9 Cr | 0.94% |
| Life Insurance Corporation of India | Equity | ₹25.62 Cr | 0.93% |
| Bank Of Baroda | Cash - CD/Time Deposit | ₹24.77 Cr | 0.90% |
| Indian Bank | Bond - Gov't Agency Debt | ₹23.75 Cr | 0.86% |
| Future on Bank of Baroda | Equity - Future | ₹-21.64 Cr | 0.79% |
| Bank of Baroda | Equity | ₹21.44 Cr | 0.78% |
| Future on Bajaj Finance Ltd | Equity - Future | ₹-18.33 Cr | 0.67% |
| Bajaj Finance Ltd | Equity | ₹18.2 Cr | 0.66% |
| The Indian Hotels Company Limited October 2026 Future | Equity - Future | ₹-16.09 Cr | 0.58% |
| Indian Hotels Co Ltd | Equity | ₹15.96 Cr | 0.58% |
| Future on NBCC India Ltd | Equity - Future | ₹-15.9 Cr | 0.58% |
| NBCC India Ltd | Equity | ₹15.77 Cr | 0.57% |
| Future on Mahindra & Mahindra Ltd | Equity - Future | ₹-14.76 Cr | 0.54% |
| Mahindra & Mahindra Ltd | Equity | ₹14.75 Cr | 0.54% |
| Glenmark Pharmaceuticals Ltd Future Oct 26 | Equity - Future | ₹-13.09 Cr | 0.48% |
| Future on GMR Airports Ltd | Equity - Future | ₹-12.97 Cr | 0.47% |
| Glenmark Pharmaceuticals Ltd | Equity | ₹12.96 Cr | 0.47% |
| GMR Airports Ltd | Equity | ₹12.94 Cr | 0.47% |
| Future on Biocon Ltd | Equity - Future | ₹-12.35 Cr | 0.45% |
| Biocon Ltd | Equity | ₹12.22 Cr | 0.44% |
| NTPC Ltd | Equity | ₹12.15 Cr | 0.44% |
| NTPC Ltd Future Oct 26 | Equity - Future | ₹-12.09 Cr | 0.44% |
| Coal India Ltd Future Oct 26 | Equity - Future | ₹-11.68 Cr | 0.42% |
| Coal India Ltd | Equity | ₹11.65 Cr | 0.42% |
| Steel Authority Of India Ltd | Equity | ₹11.26 Cr | 0.41% |
| Steel Authority Of India Ltd Future Oct 26 | Equity - Future | ₹-11.04 Cr | 0.40% |
| Future on Jio Financial Services Ltd | Equity - Future | ₹-10.91 Cr | 0.40% |
| Jio Financial Services Ltd | Equity | ₹10.91 Cr | 0.40% |
| Indus Towers Limited October 2026 Future | Equity - Future | ₹-10.75 Cr | 0.39% |
| Indus Towers Ltd Ordinary Shares | Equity | ₹10.72 Cr | 0.39% |
| Future on Varun Beverages Ltd | Equity - Future | ₹-10.42 Cr | 0.38% |
| Varun Beverages Ltd | Equity | ₹10.41 Cr | 0.38% |
| Tbill | Bond - Gov't/Treasury | ₹9.84 Cr | 0.36% |
| Future on LIC Housing Finance Ltd | Equity - Future | ₹-9.61 Cr | 0.35% |
| LIC Housing Finance Ltd | Equity | ₹9.49 Cr | 0.35% |
| Future on ITC Ltd | Equity - Future | ₹-9.18 Cr | 0.33% |
| ITC Ltd | Equity | ₹9.16 Cr | 0.33% |
| Future on Aditya Birla Capital Ltd | Equity - Future | ₹-8.9 Cr | 0.32% |
| Aditya Birla Capital Ltd | Equity | ₹8.85 Cr | 0.32% |
| Net Receivables / (Payables) | Cash | ₹-8.09 Cr | 0.29% |
| DLF Ltd | Equity | ₹8 Cr | 0.29% |
| DLF Ltd Future Oct 26 | Equity - Future | ₹-7.94 Cr | 0.29% |
| Future on JSW Steel Ltd | Equity - Future | ₹-7.35 Cr | 0.27% |
| JSW Steel Ltd | Equity | ₹7.28 Cr | 0.26% |
| Future on Hindalco Industries Ltd | Equity - Future | ₹-5.98 Cr | 0.22% |
| Future on Tata Power Co Ltd | Equity - Future | ₹-5.95 Cr | 0.22% |
| Tata Power Co Ltd | Equity | ₹5.93 Cr | 0.22% |
| Hindalco Industries Ltd | Equity | ₹5.93 Cr | 0.22% |
| Cipla Ltd Future Oct 26 | Equity - Future | ₹-5.88 Cr | 0.21% |
| Cipla Ltd | Equity | ₹5.83 Cr | 0.21% |
| Dabur India Ltd Future Oct 26 | Equity - Future | ₹-4.77 Cr | 0.17% |
| Dabur India Ltd | Equity | ₹4.75 Cr | 0.17% |
| Future on Crompton Greaves Consumer Electricals Ltd | Equity - Future | ₹-4.16 Cr | 0.15% |
| Crompton Greaves Consumer Electricals Ltd | Equity | ₹4.13 Cr | 0.15% |
| Future on Divi's Laboratories Ltd | Equity - Future | ₹-4.01 Cr | 0.15% |
| Divi's Laboratories Ltd | Equity | ₹4 Cr | 0.15% |
| Future on Aurobindo Pharma Ltd | Equity - Future | ₹-3.87 Cr | 0.14% |
| Aurobindo Pharma Ltd | Equity | ₹3.86 Cr | 0.14% |
| S-Oil Future Oct 26 | Equity - Future | ₹-3.29 Cr | 0.12% |
| Future on PNB Housing Finance Ltd | Equity - Future | ₹-2.86 Cr | 0.10% |
| PNB Housing Finance Ltd | Equity | ₹2.84 Cr | 0.10% |
| Future on Coforge Ltd | Equity - Future | ₹-2.69 Cr | 0.10% |
| Coforge Ltd | Equity | ₹2.66 Cr | 0.10% |
| Future on Infosys Ltd | Equity - Future | ₹-2.61 Cr | 0.09% |
| Future on Inox Wind Ltd | Equity - Future | ₹-2.6 Cr | 0.09% |
| Infosys Ltd | Equity | ₹2.58 Cr | 0.09% |
| Inox Wind Ltd | Equity | ₹2.58 Cr | 0.09% |
| Future on Multi Commodity Exchange of India Ltd | Equity - Future | ₹-2.4 Cr | 0.09% |
| Multi Commodity Exchange of India Ltd | Equity | ₹2.38 Cr | 0.09% |
| ICICI Lombard General Insurance Co Ltd | Equity | ₹2.17 Cr | 0.08% |
| The Federal Bank Ltd Future Oct 26 | Equity - Future | ₹-2.16 Cr | 0.08% |
| Future on ICICI Lombard General Insurance Co Ltd | Equity - Future | ₹-2.15 Cr | 0.08% |
| The Federal Bank Ltd | Equity | ₹2.14 Cr | 0.08% |
| Oil & Natural Gas Corp Ltd | Equity | ₹1.98 Cr | 0.07% |
| Future on Godrej Properties Ltd | Equity - Future | ₹-1.82 Cr | 0.07% |
| Godrej Properties Ltd | Equity | ₹1.8 Cr | 0.07% |
| Future on Bajaj Finserv Ltd | Equity - Future | ₹-1.56 Cr | 0.06% |
| Bajaj Finserv Ltd | Equity | ₹1.56 Cr | 0.06% |
| Future on Tata Motors Ltd | Equity - Future | ₹-1.54 Cr | 0.06% |
| Tata Motors Passenger Vehicles Ltd | Equity | ₹1.54 Cr | 0.06% |
| Power Finance Corporation Limited October 2026 Future | Equity - Future | ₹-1.45 Cr | 0.05% |
| Yes Bank Ltd Future Oct 26 | Equity - Future | ₹-1.44 Cr | 0.05% |
| Power Finance Corp Ltd | Equity | ₹1.44 Cr | 0.05% |
| Future on Oberoi Realty Ltd | Equity - Future | ₹-1.43 Cr | 0.05% |
| Yes Bank Ltd | Equity | ₹1.43 Cr | 0.05% |
| Oberoi Realty Ltd | Equity | ₹1.42 Cr | 0.05% |
| Future on Unilever | Equity - Future | ₹-1.41 Cr | 0.05% |
| Hindustan Unilever Ltd | Equity | ₹1.41 Cr | 0.05% |
| Future on Tata Consumer Products Ltd | Equity - Future | ₹-1.37 Cr | 0.05% |
| Tata Consumer Products Ltd | Equity | ₹1.36 Cr | 0.05% |
| Indian Oil Corp Ltd | Equity | ₹1.32 Cr | 0.05% |
| Future on Marico Ltd | Equity - Future | ₹-0.95 Cr | 0.03% |
| Marico Ltd | Equity | ₹0.94 Cr | 0.03% |
| Solar Industries India Ltd | Equity | ₹0.69 Cr | 0.03% |
| Future on Solar Industries India Ltd | Equity - Future | ₹-0.69 Cr | 0.02% |
| Eternal Ltd | Equity | ₹0.54 Cr | 0.02% |
| Eternal Limited October 2026 Future | Equity - Future | ₹-0.54 Cr | 0.02% |
| Future on Asian Paints Ltd | Equity - Future | ₹-0.54 Cr | 0.02% |
| Asian Paints Ltd | Equity | ₹0.54 Cr | 0.02% |
| Future on BANK Index | Equity Index - Future | ₹-0.51 Cr | 0.02% |
| AU Small Finance Bank Ltd | Equity | ₹0.51 Cr | 0.02% |
| SBI Life Future Oct 26 | Equity - Future | ₹-0.38 Cr | 0.01% |
| SBI Life Insurance Co Ltd | Equity | ₹0.38 Cr | 0.01% |
| Power Grid Corp Of India Ltd | Equity | ₹0.25 Cr | 0.01% |
| Power Grid Corp Of India Ltd Future Oct 26 | Equity - Future | ₹-0.25 Cr | 0.01% |
| Fortis Healthcare Ltd | Equity | ₹0.24 Cr | 0.01% |
| Future on Fortis Healthcare Ltd | Equity - Future | ₹-0.24 Cr | 0.01% |
| Torrent Pharmaceuticals Ltd Future Oct 26 | Equity - Future | ₹-0.18 Cr | 0.01% |
| Torrent Pharmaceuticals Ltd | Equity | ₹0.18 Cr | 0.01% |
| Future on One97 Communications Ltd | Equity - Future | ₹-0.12 Cr | 0.00% |
| One97 Communications Ltd | Equity | ₹0.12 Cr | 0.00% |
| Future on Cholamandalam Investment and Finance Co Ltd | Equity - Future | ₹-0.1 Cr | 0.00% |
| Cholamandalam Investment and Finance Co Ltd | Equity | ₹0.1 Cr | 0.00% |
| Future on Larsen & Toubro Ltd | Equity - Future | ₹-0.07 Cr | 0.00% |
| Larsen & Toubro Ltd | Equity | ₹0.07 Cr | 0.00% |
Allocation By Market Cap (Equity)
Large Cap Stocks
31.53%
Mid Cap Stocks
2.35%
Small Cap Stocks
-3.81%
Allocation By Credit Quality (Debt)
AAA
Other Allocation
Equity Sector
Debt & Others
| Sector | Amount | Holdings |
|---|---|---|
| Financial Services | ₹1,023.2 Cr | 37.21% |
| Industrials | ₹186.53 Cr | 6.78% |
| Basic Materials | ₹171.23 Cr | 6.23% |
| Energy | ₹147 Cr | 5.35% |
| Communication Services | ₹131.82 Cr | 4.79% |
| Consumer Cyclical | ₹68.81 Cr | 2.50% |
| Healthcare | ₹66.5 Cr | 2.42% |
| Consumer Defensive | ₹28.03 Cr | 1.02% |
| Utilities | ₹18.33 Cr | 0.67% |
| Real Estate | ₹11.22 Cr | 0.41% |
| Technology | ₹5.37 Cr | 0.20% |
Risk & Performance Ratios
Standard Deviation
This fund
--
Cat. avg.
0.56%
Lower the better
Sharpe Ratio
This fund
--
Cat. avg.
0.83
Higher the better
Sortino Ratio
This fund
--
Cat. avg.
1.66
Higher the better
Fund Managers
RM
Raj Mehta
Since September 2025
Rajeev Thakkar
Since October 2023
Raunak Onkar
Since October 2023
RT
Rukun Tarachandani
Since October 2023
Tejas Soman
Since September 2025
AD
Aishwarya Dhar
Since September 2025
Additional Scheme Detailsas of 30th September 2026
ISIN INF879O01225 | Expense Ratio 1.00% | Exit Load No Charges | Fund Size ₹2,799 Cr | Age 2 years 11 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
PPFAS Mutual Fund
Total AUM
₹1,69,455 Cr
Address
Great Western Building, 1st Floor, Mumbai, 400 001
Other Funds by PPFAS Mutual Fund
| Fund name | Expense Ratio | Exit Load | Fund size | 1Y  |
|---|---|---|---|---|
| Parag Parikh Large Cap Fund Direct Growth Very High Risk | 0.4% | 0.0% | ₹860.10 Cr | - |
| Parag Parikh Dynamic Asset Allocation Fund Direct Growth Moderately High risk | 0.4% | 1.0% | ₹2574.82 Cr | 2.2% |
| Parag Parikh Arbitrage Fund Direct Growth Low Risk | 1.0% | 0.0% | ₹2798.93 Cr | 6.6% |
| Parag Parikh Liquid Fund Direct Growth Low to Moderate Risk | 0.1% | 0.0% | ₹6721.83 Cr | 6.5% |
| Parag Parikh Conservative Hybrid Fund Direct Growth Moderately High risk | 0.3% | 1.0% | ₹3481.42 Cr | 2.9% |
| Parag Parikh Flexi Cap Fund Direct Growth Very High Risk | 0.7% | 2.0% | ₹147404.51 Cr | -4.6% |
| Parag Parikh Tax Saver Fund Direct Growth Very High Risk | 0.7% | 0.0% | ₹5613.32 Cr | -11.8% |
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 Parag Parikh Arbitrage Fund Direct Growth?
The NAV of Parag Parikh Arbitrage Fund Direct Growth, as of 12-Oct-2026, is ₹12.21.
What is the portfolio composition of Parag Parikh Arbitrage Fund Direct Growth?
The fund's allocation of assets is distributed as -0.33% in equities, 2.95% in bonds, and 97.35% in cash and cash equivalents.
Who manages the Parag Parikh Arbitrage Fund Direct Growth?
The fund managers responsible for Parag Parikh Arbitrage Fund Direct Growth are:-
- Raj Mehta
- Rajeev Thakkar
- Raunak Onkar
- Rukun Tarachandani
- Tejas Soman
- Aishwarya Dhar
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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.
