JM Arbitrage Fund
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.
Growthvine rating: 2/5 — ranked #28 of 39 in category.
Fund basics
| Category | Hybrid: Arbitrage |
|---|---|
| NAV | ₹35.08 (as of 2026-10-23) |
| AUM | ₹482 Cr |
| Expense ratio | 0.91% |
| Riskometer | Low |
| Fund manager | Asit Bhandarkar |
| Exit load | 0.5% for redemption within 30 days |
Performance & risk
| 5-year annualised return | 5.70% |
|---|---|
| Sharpe ratio | 0.93 |
| Standard deviation | 0.50% |
| Max drawdown | −2.60% |
| Alpha | 0 |
| Beta | 0 |
Over 5 years, captured 26.2% of NIFTY Multi Asset - Equity : Arbitrage : REITs/InvITs (50:40:10) Index's upside and −24.3% of its downside.
Market cap allocation
Concentration
| Top 5 holdings | 0.0% |
|---|---|
| Top 10 holdings | 0.0% |
| Total holdings | 107 |
Top holdings
- Net Receivables/Payables (FnO) — 77.6%
- JM Financial Mutual Fund — 7.8%
- The Clearing Corporation of India Ltd. 01-OCT-2026 — 7.4%
- ICICI Bank Ltd. — 4.5%
- Reliance Industries Ltd — 4.1%
- AXIS Bank Ltd. — 3.9%
- VODAFONE IDEA LIMITED — 3.4%
- TATA STEEL LIMITED — 3.3%
- Kotak Mahindra Bank Ltd. — 2.9%
- State Bank Of India — 2.6%
Top sectors
Not disclosed.
Calendar-year track record
| Year | Return | Quartile | Category rank |
|---|---|---|---|
| 2026 (partial) | 4.7% | Q3 | #27 of 35 |
| 2025 | 5.9% | Q4 (Bottom) | #28 of 31 |
| 2024 | 7.2% | Q3 | #20 of 27 |
| 2023 | 6.6% | Q4 (Bottom) | #21 of 25 |
| 2022 | 4.0% | Q3 | #16 of 21 |