DSP Arbitrage Fund
An open ended scheme investing in arbitrage opportunities
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DSP Arbitrage Fund An open ended scheme investing in arbitrage opportunities |
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Fund Manager
M. Suryanarayanan (Equity Portion)
Total work experience of 9 years.
Managing this Scheme since September, 2018
Kedar Karnik
Total work experience of 13
years.
Managing this Scheme since
June 2020.
Inception date
January 25, 2018
Benchmark
NIFTY 50 Arbitrage Index
NAV AS ON JUNE 30, 2020
| Regular Plan | |
| Growth: | ₹ 11.5160 |
| Direct Plan | |
| Growth: | ₹ 11.6880 |
Total aum
₹ 1,146 Cr
Monthly average aum
₹ 1,126 Cr
Portfolio Turnover Ratio(Last 12 months):
13.03
Month End Expense Ratio
| Regular Plan : | 0.95% |
| Direct Plan : | 0.35% |
Average Maturity
0.36 years
Modified Duration
0.33 years
Portfolio YTM
4.80%
Exit Load
• If the units redeemed or switched-out are
upto 10% of the units (the limit) purchased
or switched within 30 days from the date of
allotment: Nil;
• If units redeemed or switched out are in
excess of the limit within 30 days from the
date of allotment: 0.25%;
• If units are redeemed or switched out on or
after 30 days from the date of allotment: Nil.
| Name of Instrument | % to Net Assets | |
| EQUITY & EQUITY RELATED | ||
| Listed / awaiting listing on the stock exchanges | ||
| Banks | 16.75 | |
| ✔ IndusInd Bank Limited | 7.38 | |
| ✔ ICICI Bank Limited | 6.03 | |
| Axis Bank Limited | 2.10 | |
| The Federal Bank Limited | 1.08 | |
| Bank of Baroda | 0.10 | |
| Punjab National Bank | 0.03 | |
| State Bank of India | 0.02 | |
| Telecom - Services | 8.73 | |
| ✔ Bharti Airtel Limited | 5.95 | |
| ✔ Vodafone Idea Limited | 2.78 | |
| Finance | 8.17 | |
| ✔ Housing Development Finance Corporation Limited | 5.20 | |
| Manappuram Finance Limited | 1.04 | |
| Shriram Transport Finance Company Limited | 0.43 | |
| Mahindra & Mahindra Financial Services Limited | 0.40 | |
| Piramal Enterprises Limited | 0.31 | |
| REC Limited | 0.30 | |
| L&T Finance Holdings Limited | 0.23 | |
| HDFC Life Insurance Company Limited | 0.23 | |
| Muthoot Finance Limited | 0.02 | |
| SBI Life Insurance Company Limited | * | |
| Consumer Non Durables | 6.43 | |
| ✔ Hindustan Unilever Limited | 6.00 | |
| United Spirits Limited | 0.15 | |
| Colgate Palmolive (India) Limited | 0.11 | |
| Dabur India Limited | 0.08 | |
| Asian Paints Limited | 0.04 | |
| ITC Limited | 0.03 | |
| Godrej Consumer Products Limited | 0.02 | |
| Marico Limited | * | |
| Non - Ferrous metals | 4.55 | |
| ✔ Vedanta Limited | 4.42 | |
| Hindalco Industries Limited | 0.10 | |
| National Aluminium Company Limited | 0.02 | |
| Pharmaceuticals | 3.63 | |
| ✔ Aurobindo Pharma Limited | 3.41 | |
| Sun Pharmaceutical Industries Limited | 0.12 | |
| Dr. Reddy's Laboratories Limited | 0.06 | |
| Divi's Laboratories Limited | 0.04 | |
| Petroleum Products | 2.81 | |
| Reliance Industries Limited | 1.97 | |
| Bharat Petroleum Corporation Limited | 0.45 | |
| Hindustan Petroleum Corporation Limited | 0.38 | |
| Indian Oil Corporation Limited | * | |
| Cement | 2.78 | |
| Ambuja Cements Limited | 1.40 | |
| Grasim Industries Limited | 1.38 | |
| Ferrous metals | 2.14 | |
| Jindal Steel & Power Limited | 1.99 | |
| Steel Authority of India Limited | 0.15 | |
| Industrial Capital Goods | 1.42 | |
| Bharat Heavy Electricals Limited | 1.35 | |
| Siemens Limited | 0.07 | |
| Trading | 1.22 | |
| Adani Enterprises Limited | 1.22 | |
| Media & Entertainment | 1.20 | |
| Zee Entertainment Enterprises Limited | 0.94 | |
| Sun TV Network Limited | 0.27 | |
| Construction | 0.98 | |
| DLF Limited | 0.98 | |
| Software | 0.93 | |
| Wipro Limited | 0.78 | |
| Tech Mahindra Limited | 0.14 | |
| NIIT Technologies Limited | * | |
| Transportation | 0.89 | |
| Adani Ports and Special Economic Zone Limited | 0.89 | |
| Telecom - Equipment & Accessories | 0.81 | |
| Bharti Infratel Limited | 0.81 | |
| Auto | 0.71 | |
| Bajaj Auto Limited | 0.44 | |
| Tata Motors Limited | 0.21 | |
| Escorts Limited | 0.06 | |
| Power | 0.42 | |
| Power Grid Corporation of India Limited | 0.42 | |
| Construction Project | 0.28 | |
| NCC Limited | 0.28 | |
| Minerals/Mining | 0.18 | |
| NMDC Limited | 0.18 | |
| Auto Ancillaries | 0.17 | |
| Apollo Tyres Limited | 0.11 | |
| Exide Industries Limited | 0.06 | |
| Paper | 0.16 | |
| Century Textiles & Industries Limited | 0.16 | |
| Total | 65.35 | |
| Name of Instrument | Rating | to Net Assets |
| DEBT INSTRUMENTS | ||
| BOND & NCD's | ||
| Listed / awaiting listing on the stock exchanges | ||
| ✔ REC Limited | CRISIL AAA | 2.26 |
| Housing Development Finance Corporation Limited | CRISIL AAA | 0.47 |
| Total | 2.73 | |
| MONEY MARKET INSTRUMENTS | ||
| Certificate of Deposit | ||
| Export-Import Bank of India | CRISIL A1+ | 1.70 |
| Total | 1.70 | |
| TREPS / Reverse Repo Investments / Corporate Debt Repo | 3.91 | |
| Total | 3.91 | |
| Fixed Deposit | ||
| ✔ HDFC Bank Limited 04 Sep 2020 (Duration - 95 Days) | Unrated | 2.30 |
| Punjab National Bank 01 Oct 2020 (Duration - 366 Days) | Unrated | 1.37 |
| Punjab National Bank 31 Oct 2020 (Duration - 366 Days) | Unrated | 1.27 |
| HDFC Bank Limited 14 Aug 2020 (Duration - 94 Days) | Unrated | 0.92 |
| HDFC Bank Limited 17 Aug 2020 (Duration - 96 Days) | Unrated | 0.92 |
| HDFC Bank Limited 18 Aug 2020 (Duration - 96 Days) | Unrated | 0.92 |
| Punjab National Bank 19 Sep 2020 (Duration - 366 Days) | Unrated | 0.91 |
| Punjab National Bank 25 Sep 2020 (Duration - 366 Days) | Unrated | 0.91 |
| Punjab National Bank 25 Oct 2020 (Duration - 366 Days) | Unrated | 0.91 |
| Punjab National Bank 24 Oct 2020 (Duration - 366 Days) | Unrated | 0.73 |
| HDFC Bank Limited 12 Oct 2020 (Duration - 186 Days) | Unrated | 0.46 |
| HDFC Bank Limited 13 Jul 2020 (Duration - 95 Days) | Unrated | 0.46 |
| HDFC Bank Limited 15 Jul 2020 (Duration - 93 Days) | Unrated | 0.46 |
| HDFC Bank Limited 19 Aug 2020 (Duration - 96 Days) | Unrated | 0.46 |
| HDFC Bank Limited 13 Sep 2020 (Duration - 95 Days) | Unrated | 0.46 |
| ICICI Bank Limited 09 Nov 2020 (Duration - 367 Days) | Unrated | 0.45 |
| ICICI Bank Limited 11 Nov 2020 (Duration - 366 Days) | Unrated | 0.45 |
| Axis Bank Limited 07 Oct 2020 (Duration - 391 Days) | Unrated | 0.45 |
| Axis Bank Limited 08 Oct 2020 (Duration - 391 Days) | Unrated | 0.45 |
| ICICI Bank Limited 13 Nov 2020 (Duration - 366 Days) | Unrated | 0.18 |
| ICICI Bank Limited 07 Dec 2020 (Duration - 367 Days) | Unrated | 0.18 |
| Bank of Baroda 07 Dec 2020 (Duration - 367 Days) | Unrated | 0.18 |
| ICICI Bank Limited 05 Jan 2021 (Duration - 393 Days) | Unrated | 0.18 |
| ICICI Bank Limited 06 Jan 2021 (Duration - 393 Days) | Unrated | 0.18 |
| ICICI Bank Limited 06 Jan 2021 (Duration - 392 Days) | Unrated | 0.18 |
| ICICI Bank Limited 07 Jan 2021 (Duration - 392 Days) | Unrated | 0.18 |
| ICICI Bank Limited 11 Jan 2021 (Duration - 395 Days) | Unrated | 0.18 |
| ICICI Bank Limited 14 Jan 2021 (Duration - 395 Days) | Unrated | 0.18 |
| ICICI Bank Limited 15 Jan 2021 (Duration - 395 Days) | Unrated | 0.18 |
| ICICI Bank Limited 13 Jan 2021 (Duration - 392 Days) | Unrated | 0.18 |
| ICICI Bank Limited 18 Jan 2021 (Duration - 396 Days) | Unrated | 0.18 |
| ICICI Bank Limited 19 Jan 2021 (Duration - 396 Days) | Unrated | 0.18 |
| ICICI Bank Limited 20 Jan 2021 (Duration - 393 Days) | Unrated | 0.18 |
| ICICI Bank Limited 05 Feb 2021 (Duration - 393 Days) | Unrated | 0.18 |
| ICICI Bank Limited 08 Feb 2021 (Duration - 395 Days) | Unrated | 0.18 |
| ICICI Bank Limited 09 Feb 2021 (Duration - 393 Days) | Unrated | 0.18 |
| Punjab National Bank 15 Jan 2021 (Duration - 367 Days) | Unrated | 0.18 |
| Punjab National Bank 14 Jan 2021 (Duration - 366 Days) | Unrated | 0.18 |
| Punjab National Bank 20 Jan 2021 (Duration - 372 Days) | Unrated | 0.18 |
| ICICI Bank Limited 10 Feb 2021 (Duration - 393 Days) | Unrated | 0.18 |
| Punjab National Bank 19 Jan 2021 (Duration - 371 Days) | Unrated | 0.18 |
| Punjab National Bank 18 Jan 2021 (Duration - 370 Days) | Unrated | 0.18 |
| ICICI Bank Limited 11 Feb 2021 (Duration - 393 Days) | Unrated | 0.18 |
| ICICI Bank Limited 12 Feb 2021 (Duration - 393 Days) | Unrated | 0.18 |
| Punjab National Bank 19 Jan 2021 (Duration - 368 Days) | Unrated | 0.18 |
| Punjab National Bank 18 Jan 2021 (Duration - 367 Days) | Unrated | 0.18 |
| Bank of Baroda 25 Jan 2021 (Duration - 370 Days) | Unrated | 0.18 |
| Bank of Baroda 27 Jan 2021 (Duration - 372 Days) | Unrated | 0.18 |
| Bank of Baroda 21 Jan 2021 (Duration - 366 Days) | Unrated | 0.18 |
| Bank of Baroda 28 Jan 2021 (Duration - 373 Days) | Unrated | 0.18 |
| Bank of Baroda 22 Jan 2021 (Duration - 367 Days) | Unrated | 0.18 |
| Bank of Baroda 08 Feb 2021 (Duration - 383 Days) | Unrated | 0.18 |
| Bank of Baroda 05 Feb 2021 (Duration - 380 Days) | Unrated | 0.18 |
| Bank of Baroda 12 Feb 2021 (Duration - 386 Days) | Unrated | 0.18 |
| Bank of Baroda 15 Feb 2021 (Duration - 389 Days) | Unrated | 0.18 |
| Bank of Baroda 23 Feb 2021 (Duration - 396 Days) | Unrated | 0.18 |
| Bank of Baroda 22 Feb 2021 (Duration - 395 Days) | Unrated | 0.18 |
| Bank of Baroda 25 Feb 2021 (Duration - 395 Days) | Unrated | 0.18 |
| Bank of Baroda 26 Feb 2021 (Duration - 395 Days) | Unrated | 0.18 |
| Bank of Baroda 01 Mar 2021 (Duration - 391 Days) | Unrated | 0.18 |
| Bank of Baroda 03 Mar 2021 (Duration - 393 Days) | Unrated | 0.18 |
| Bank of Baroda 02 Mar 2021 (Duration - 392 Days) | Unrated | 0.18 |
| Bank of Baroda 04 Mar 2021 (Duration - 394 Days) | Unrated | 0.18 |
| Bank of Baroda 05 Mar 2021 (Duration - 395 Days) | Unrated | 0.18 |
| Bank of Baroda 09 Mar 2021 (Duration - 398 Days) | Unrated | 0.18 |
| Bank of Baroda 12 Mar 2021 (Duration - 401 Days) | Unrated | 0.18 |
| Bank of Baroda 15 Mar 2021 (Duration - 404 Days) | Unrated | 0.18 |
| Bank of Baroda 10 Mar 2021 (Duration - 399 Days) | Unrated | 0.18 |
| Bank of Baroda 16 Mar 2021 (Duration - 405 Days) | Unrated | 0.18 |
| Bank of Baroda 08 Mar 2021 (Duration - 397 Days) | Unrated | 0.18 |
| Bank of Baroda 25 Sep 2020 (Duration - 95 Days) | Unrated | 0.17 |
| Total | 24.61 | |
| Cash & Cash Equivalent | ||
| Cash Margin | 4.63 | |
| Net Receivables/Payables | -2.93 | |
| Total | 1.70 | |
| GRAND TOTAL | 100.00 |
✔ Top Ten Holdings
* Less than 0.01%
Notes : 1. All corporate ratings are assigned by rating agencies like CRISIL, CARE, ICRA, IND.
Investment Objective
The investment objective of
the Scheme is to generate
income through arbitrage
opportunities between cash and
derivative market and arbitrage
opportunities within the
derivative market. Investments
may also be made in debt &
money market instruments.
There is no assurance that the
investment objective of the
Scheme will be realized.
Product Labelling
This open ended Scheme is suitable for investors who are seeking*
• Income over a short-term investment horizon
• Investment in arbitrage opportunities in the cash & derivatives segment of the equity market
* Investors should consult their financial advisors if in doubt whether the product is suitable for them.