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Invest in direct mutual funds at zero charges via lump sump investments or SIPs
JM Arbitrage Fund Direct Growth
+7.09%
3Y annualised
-0.04% 1D
NAV: 20 Jul '26
₹37.06
Min. for SIP
₹100
Fund size (AUM)
₹382.55 Cr
Expense ratio
1.47%
Rating
2
Return calculator
Monthly investment
₹5,000
| Over the past | Total investment | Would've become | Historic returns | Returns |
|---|---|---|---|---|
| 1 year | ₹60,000 | ₹61,714 | +2.86% | |
| 3 years | ₹1,80,000 | ₹1,98,212 | +10.12% | |
| 5 years | ₹3,00,000 | ₹3,54,024 | +18.01% | |
| 10 years | ₹6,00,000 | ₹8,06,082 | +34.35% |
Holdings (227)
| Name | Sector | Instruments | Assets |
|---|---|---|---|
| Cash Margin | Unspecified | Cash Margin | 79.03% |
| JM High Liquidity Fund Direct-Growth | Unspecified | Mutual Fund | 6.07% |
| Reverse Repo | Unspecified | Reverse Repo | 6.02% |
| HDFC Bank Ltd | Financial | Equity | 4.98% |
| ICICI Bank Ltd | Financial | Equity | 3.93% |
| Kotak Mahindra Bank Ltd | Financial | Equity | 3.90% |
| Reliance Industries Ltd | Energy & Utilities | Equity | 3.65% |
| Vodafone Idea Ltd | Technology | Equity | 3.46% |
| Zomato Ltd | Technology | Equity | 2.72% |
| Tata Steel Ltd | Materials | Equity | 2.69% |
| Net Receivables | Unspecified | Net Receivables | 2.32% |
| Bharti Airtel Ltd | Technology | Equity | 2.23% |
| Eicher Motors Ltd | Consumer Discretionary | Equity | 2.14% |
| Yes Bank Ltd | Financial | Equity | 2.01% |
| Adani Ports and Special Economic Zone Ltd | Industrials | Equity | 1.89% |
| Adani Enterprises Ltd | Materials | Equity | 1.79% |
| NBCC India Ltd | Industrials | Equity | 1.77% |
| Macrotech Developers Ltd | Real Estate | Equity | 1.48% |
| NMDC Ltd | Materials | Equity | 1.41% |
| Mahindra & Mahindra Ltd | Consumer Discretionary | Equity | 1.35% |
| Bharat Heavy Electricals Ltd | Industrials | Equity | 1.34% |
| FSN E-Commerce Ventures Ltd | Consumer Discretionary | Equity | 1.32% |
| GOVERNMENT OF INDIA 36907 182 DAYS TBILL 09JL26 FV RS 100 | Financial | Treasury Bills | 1.31% |
| GOVERNMENT OF INDIA 37010 182 DAYS TBILL 30JL26 FV RS 100 | Financial | Treasury Bills | 1.30% |
| GOVERNMENT OF INDIA 36319 364 DAYS TBILL 13AG26 FV RS 100 | Financial | Treasury Bills | 1.30% |
| GOVERNMENT OF INDIA 37176 182 DAYS TBILL 03SP26 FV RS 100 | Financial | Treasury Bills | 1.30% |
| Varun Beverages Ltd | Consumer Staples | Equity | 1.29% |
| GOVERNMENT OF INDIA 36692 364 DAYS TBILL 06NV26 FV RS 100 | Financial | Treasury Bills | 1.28% |
| JSW Steel Ltd | Materials | Equity | 1.23% |
| Adani Transmission Ltd | Energy & Utilities | Equity | 1.13% |
| Axis Bank Ltd | Financial | Equity | 1.08% |
| Bank Of Baroda | Financial | Equity | 1.06% |
| Steel Authority Of India Ltd | Materials | Equity | 1.00% |
| Larsen & Toubro Ltd | Industrials | Equity | 0.97% |
| Bandhan Bank Ltd | Financial | Equity | 0.90% |
| Indus Towers Ltd | Technology | Equity | 0.89% |
| State Bank of India | Financial | Equity | 0.89% |
| LIC Housing Finance Ltd | Financial | Equity | 0.88% |
| Max Financial Services Ltd | Financial | Equity | 0.84% |
| Bharat Electronics Ltd | Industrials | Equity | 0.83% |
| Punjab National Bank | Financial | Equity | 0.83% |
| Canara Bank | Financial | Equity | 0.73% |
| Jio Financial Services Limited | Financial | Equity | 0.73% |
| Maruti Suzuki India Ltd | Consumer Discretionary | Equity | 0.72% |
| United Spirits Ltd | Consumer Staples | Equity | 0.71% |
| Adani Power Ltd | Energy & Utilities | Equity | 0.64% |
| Grasim Industries Ltd | Materials | Equity | 0.63% |
| The Indian Hotels Company Ltd | Consumer Discretionary | Equity | 0.62% |
| Titan Company Ltd | Consumer Discretionary | Equity | 0.60% |
| RBL Bank Ltd | Financial | Equity | 0.55% |
| GOVERNMENT OF INDIA 36939 182 DAYS TBILL 17JL26 FV RS 100 | Financial | Treasury Bills | 0.52% |
| Shriram Transport Finance Company Ltd | Financial | Equity | 0.52% |
| Adani Green Energy Ltd | Energy & Utilities | Equity | 0.51% |
| Manappuram Finance Ltd | Financial | Equity | 0.51% |
| Info Edge (India) Ltd | Technology | Equity | 0.51% |
| Biocon Ltd | Healthcare | Equity | 0.49% |
| HDFC Life Insurance Co Ltd | Financial | Equity | 0.46% |
| Laurus Labs Ltd | Healthcare | Equity | 0.44% |
| Hindustan Unilever Ltd | Consumer Staples | Equity | 0.43% |
| IDFC First Bank Ltd | Financial | Equity | 0.42% |
| DLF Ltd | Real Estate | Equity | 0.42% |
| Cipla Ltd | Healthcare | Equity | 0.41% |
| Crompton Greaves Consumer Electricals Ltd | Consumer Discretionary | Equity | 0.40% |
| Ambuja Cements Ltd | Materials | Equity | 0.40% |
| Godrej Properties Ltd | Real Estate | Equity | 0.40% |
| Coal India Ltd | Materials | Equity | 0.39% |
| AU Small Finance Bank Ltd | Financial | Equity | 0.38% |
| Sun Pharmaceutical Industries Ltd | Healthcare | Equity | 0.37% |
| Hitachi Energy India Ltd | Industrials | Equity | 0.37% |
| Glenmark Pharmaceuticals Ltd | Healthcare | Equity | 0.35% |
| Patanjali Foods Ltd | Consumer Staples | Equity | 0.31% |
| ITC Ltd | Consumer Staples | Equity | 0.31% |
| Tata Motors Ltd | Consumer Discretionary | Equity | 0.31% |
| Mankind Pharma Ltd. | Healthcare | Equity | 0.28% |
| Bajaj Finserv Ltd | Financial | Equity | 0.28% |
| Avenue Supermarts Ltd | Consumer Staples | Equity | 0.27% |
| Hindalco Industries Ltd | Materials | Equity | 0.26% |
| Divi's Laboratories Ltd | Healthcare | Equity | 0.26% |
| Bajaj Finance Ltd | Financial | Equity | 0.26% |
| TVS Motor Company Ltd | Consumer Discretionary | Equity | 0.25% |
| ICICI Prudential Life Insurance Company Ltd | Financial | Equity | 0.25% |
| UPL Ltd | Materials | Equity | 0.24% |
| Ultratech Cement Ltd | Materials | Equity | 0.24% |
| CG Power & Industrial Solutions Ltd | Industrials | Equity | 0.23% |
| Kalyan Jewellers India Ltd | Consumer Discretionary | Equity | 0.20% |
| GMR Airports Infrastructure Ltd | Industrials | Equity | 0.20% |
| Hindustan Aeronautics Ltd | Industrials | Equity | 0.19% |
| Tata Power Company Ltd | Energy & Utilities | Equity | 0.16% |
| SBI Life Insurance Company Ltd | Financial | Equity | 0.16% |
| Swiggy Ltd. | Technology | Equity | 0.15% |
| Interglobe Aviation Ltd | Industrials | Equity | 0.15% |
| APL Apollo Tubes Ltd | Industrials | Equity | 0.13% |
| Hindustan Zinc Ltd | Materials | Equity | 0.12% |
| NTPC Ltd | Energy & Utilities | Equity | 0.11% |
| REC Ltd | Financial | Equity | 0.10% |
| Indian Energy Exchange Ltd | Financial | Equity | 0.10% |
| Rail Vikas Nigam Ltd | Industrials | Equity | 0.09% |
| Hindustan Petroleum Corporation Ltd | Energy & Utilities | Equity | 0.08% |
| Dabur India Ltd | Consumer Staples | Equity | 0.08% |
| Amber Enterprises India Ltd | Consumer Discretionary | Equity | 0.08% |
| UNO Minda Ltd | Consumer Discretionary | Equity | 0.08% |
| PNB Housing Finance Ltd | Financial | Equity | 0.07% |
| Aurobindo Pharma Ltd | Healthcare | Equity | 0.07% |
| Tata Consumer Products Ltd | Consumer Staples | Equity | 0.06% |
| Union Bank of India | Financial | Equity | 0.06% |
| Prestige Estates Projects Ltd | Real Estate | Equity | 0.06% |
| Bharat Petroleum Corporation Ltd | Energy & Utilities | Equity | 0.05% |
| HDFC Asset Management Company Ltd | Financial | Equity | 0.04% |
| Hero Motocorp Ltd | Consumer Discretionary | Equity | 0.04% |
| Exide Industries Ltd | Consumer Discretionary | Equity | 0.04% |
| JSW Energy Ltd | Energy & Utilities | Equity | 0.03% |
| Inox Wind Ltd | Industrials | Equity | 0.03% |
| Cholamandalam Investment & Finance Company Ltd | Financial | Equity | 0.03% |
| Apollo Hospitals Enterprise Ltd | Healthcare | Equity | 0.03% |
| Delhivery Ltd | Industrials | Equity | 0.03% |
| Sona BLW Precision Forgings Ltd | Consumer Discretionary | Equity | 0.02% |
| Suzlon Energy Ltd | Industrials | Equity | 0.02% |
| Bank of India | Financial | Equity | 0.02% |
| BANK OF INDIA-28-Jul-2026 | Financial | Futures | -0.02% |
| Suzlon Energy Ltd. 28-JUL-26 | Industrials | Futures | -0.02% |
| Sona Blw Precision Forgings Ltd. 28-JUL-26 | Consumer Discretionary | Futures | -0.02% |
| Delhivery Ltd. 28-JUL-26 | Industrials | Futures | -0.03% |
| Apollo Hospitals Enterprise Ltd. 28-JUL-26 | Healthcare | Futures | -0.03% |
| CHOLAMANDALAM INVESTMENT AND FINANCE COMPANY LIMITED-28-Jul-2026 | Financial | Futures | -0.03% |
| Inox Wind Ltd. 28-JUL-26 | Industrials | Futures | -0.03% |
| JSW Energy Ltd. 28.07.2026 | Energy & Utilities | Futures | -0.03% |
| Exide Industries Ltd. 28-JUL-26 | Consumer Discretionary | Futures | -0.04% |
| HERO MOTOCORP LTD.-28-Jul-2026 | Consumer Discretionary | Futures | -0.04% |
| HDFC Asset Management Company Limited 28/07/2026 | Financial | Futures | -0.04% |
| BHARAT PETROLEUM CORPORATION LTD.-28-Jul-2026 | Energy & Utilities | Futures | -0.05% |
| Prestige Estates Projects Limited_28/07/2026 | Real Estate | Futures | -0.06% |
| Union Bank of India 28.07.2026 | Financial | Futures | -0.06% |
| Tata Consumer Products Ltd. 28-JUL-26 | Consumer Staples | Futures | -0.06% |
| Adani Ports and Special Economic Zone Ltd. 25.08.2026 | Industrials | Futures | -0.07% |
| AUROPHARMA_28/07/2026 | Healthcare | Futures | -0.07% |
| PNBHOUSING_28/07/2026 | Financial | Futures | -0.07% |
| UNO Minda Ltd. 28.07.2026 | Consumer Discretionary | Futures | -0.08% |
| Amber Enterprises India Ltd. 28.07.2026 | Consumer Discretionary | Futures | -0.08% |
| Dabur India Limited_28/07/2026 | Consumer Staples | Futures | -0.08% |
| HINDUSTAN PETROLEUM CORPORATION LTD.-28-Jul-2026 | Energy & Utilities | Futures | -0.08% |
| Rail Vikas Nigam Ltd. 28.07.2026 | Industrials | Futures | -0.10% |
| Indian Energy Exchange Ltd. 28-JUL-26 | Financial | Futures | -0.10% |
| REC Ltd. 28-JUL-26 | Financial | Futures | -0.11% |
| NTPC Ltd. 28-JUL-26 | Energy & Utilities | Futures | -0.11% |
| Hindustan Zinc Ltd. 28-JUL-26 | Materials | Futures | -0.12% |
| APL Apollo Tubes Ltd. 28-JUL-26 | Industrials | Futures | -0.13% |
| Interglobe Aviation Ltd. 28.07.2026 | Industrials | Futures | -0.15% |
| SWIGGY_28/07/2026 | Technology | Futures | -0.15% |
| SBI Life Insurance Company Limited_28/07/2026 | Financial | Futures | -0.16% |
| Tata Power Company Limited_28/07/2026 | Energy & Utilities | Futures | -0.16% |
| Hindustan Aeronautics Ltd. 28-JUL-26 | Industrials | Futures | -0.19% |
| GMR Airports Ltd. 28-JUL-26 | Industrials | Futures | -0.21% |
| Kalyan Jewellers India Ltd. 28-JUL-26 | Consumer Discretionary | Futures | -0.21% |
| CG POWER AND INDUSTRIAL SOLUTIONS LIMITED-28-Jul-2026 | Industrials | Futures | -0.23% |
| ULTRACEMCO_28/07/2026 | Materials | Futures | -0.24% |
| UPL Ltd. 28.07.2026 | Materials | Futures | -0.24% |
| ICICI PRUDENTIAL LIFE INSURANCE COMPANY LIMITED-28-Jul-2026 | Financial | Futures | -0.25% |
| TVS Motor Company Ltd. 28-JUL-26 | Consumer Discretionary | Futures | -0.26% |
| Bajaj Finance Ltd. 28-JUL-26 | Financial | Futures | -0.26% |
| Divi's Laboratories Ltd. 28-JUL-26 | Healthcare | Futures | -0.26% |
| Hindalco Industries Limited_28/07/2026 | Materials | Futures | -0.26% |
| Avenue Supermarts Ltd. 28.07.2026 | Consumer Staples | Futures | -0.28% |
| Bajaj Finserv Limited_28/07/2026 | Financial | Futures | -0.28% |
| Mankind Pharma Ltd. 28.07.2026 | Healthcare | Futures | -0.28% |
| Tata Motors Passenger Vehicles Ltd.28/07/2026 | Consumer Discretionary | Futures | -0.31% |
| ITC Ltd. 28-JUL-26 | Consumer Staples | Futures | -0.31% |
| Patanjali Foods Ltd. 28-JUL-26 | Consumer Staples | Futures | -0.31% |
| GLENMARK PHARMACEUTICALS LTD-28-Jul-2026 | Healthcare | Futures | -0.35% |
| Hitachi Energy India Ltd. 28.07.2026 | Industrials | Futures | -0.37% |
| Sun Pharmaceutical Industries Ltd. 28-JUL-26 | Healthcare | Futures | -0.38% |
| AU Small Finance Bank Ltd. 28-JUL-26 | Financial | Futures | -0.38% |
| Coal India Ltd. 28.07.2026 | Materials | Futures | -0.39% |
| Godrej Properties Ltd. 28-JUL-26 | Real Estate | Futures | -0.40% |
| Crompton Greaves Consumer Electricals Ltd. 28-JUL-26 | Consumer Discretionary | Futures | -0.40% |
| Ambuja Cements Ltd. 28-JUL-26 | Materials | Futures | -0.40% |
| Cipla Limited_28/07/2026 | Healthcare | Futures | -0.41% |
| DLF_25/08/2026 | Real Estate | Futures | -0.42% |
| IDFC First Bank Ltd. 28-JUL-26 | Financial | Futures | -0.43% |
| Hindustan Unilever Limited_28/07/2026 | Consumer Staples | Futures | -0.44% |
| Laurus Labs Ltd. 28-JUL-26 | Healthcare | Futures | -0.44% |
| HDFC Life Insurance Company Limited_28/07/2026 | Financial | Futures | -0.47% |
| Biocon Ltd. 28-JUL-26 | Healthcare | Futures | -0.50% |
| Info Edge (India) Ltd. 28-JUL-26 | Technology | Futures | -0.51% |
| Manappuram Finance Ltd. 28.07.2026 | Financial | Futures | -0.51% |
| Shriram Finance Ltd. 28-JUL-26 | Financial | Futures | -0.52% |
| Adani Green Energy Limited_28/07/2026 | Energy & Utilities | Futures | -0.52% |
| RBL Bank Ltd. 28-JUL-26 | Financial | Futures | -0.55% |
| Titan Company Ltd. 28-JUL-26 | Consumer Discretionary | Futures | -0.61% |
| The Indian Hotels Company Ltd. 28-JUL-26 | Consumer Discretionary | Futures | -0.62% |
| Grasim Industries Ltd. 28-JUL-26 | Materials | Futures | -0.63% |
| Adani Power Ltd. 28-JUL-26 | Energy & Utilities | Futures | -0.65% |
| United Spirits Ltd. 28-JUL-26 | Consumer Staples | Futures | -0.70% |
| Maruti Suzuki India Limited_28/07/2026 | Consumer Discretionary | Futures | -0.72% |
| Jio Financial Services Ltd. 28-JUL-26 | Financial | Futures | -0.73% |
| Canara Bank 28-JUL-26 | Financial | Futures | -0.74% |
| Punjab National Bank 28-JUL-26 | Financial | Futures | -0.83% |
| Bharat Electronics Ltd. 28-JUL-26 | Industrials | Futures | -0.83% |
| Max Financial Services Ltd. 28-JUL-26 | Financial | Futures | -0.85% |
| LIC Housing Finance Ltd. 28-JUL-26 | Financial | Futures | -0.89% |
| STATE BANK OF INDIA-28-Jul-2026 | Financial | Futures | -0.89% |
| INDUS TOWERS LIMITED-28-Jul-2026 | Technology | Futures | -0.89% |
| BANDHAN BANK LTD.-28-Jul-2026 | Financial | Futures | -0.91% |
| LARSEN AND TOUBRO LIMITED-28-Jul-2026 | Industrials | Futures | -0.97% |
| Steel Authority of India Ltd. 28-JUL-26 | Materials | Futures | -1.01% |
| Bank of Baroda 28-JUL-26 | Financial | Futures | -1.07% |
| Axis Bank Ltd. 28-JUL-26 | Financial | Futures | -1.09% |
| Adani Energy Solutions Ltd. 28-JUL-26 | Energy & Utilities | Futures | -1.14% |
| JSW STEEL LTD.-28-Jul-2026 | Materials | Futures | -1.23% |
| VARUN BEVERAGES LTD-28-Jul-2026 | Consumer Staples | Futures | -1.29% |
| FSN E-Commerce Ventures Ltd. 28.07.2026 | Consumer Discretionary | Futures | -1.33% |
| Mahindra & Mahindra Ltd. 28-JUL-26 | Consumer Discretionary | Futures | -1.34% |
| BHEL_28/07/2026 | Industrials | Futures | -1.35% |
| NMDC Ltd. 28-JUL-26 | Materials | Futures | -1.42% |
| Lodha Developers Ltd. 28-JUL-26 | Real Estate | Futures | -1.49% |
| NBCC (India) Ltd. 28-JUL-26 | Industrials | Futures | -1.78% |
| Adani Enterprises Limited_28/07/2026 | Materials | Futures | -1.80% |
| Adani Ports and Special Economic Zone Ltd. 28-JUL-26 | Industrials | Futures | -1.83% |
| Yes Bank Limited_28/07/2026 | Financial | Futures | -2.02% |
| Eicher Motors Limited_28/07/2026 | Consumer Discretionary | Futures | -2.15% |
| BHARTIARTL_25/08/2026 | Technology | Futures | -2.23% |
| Tata Steel Ltd. 28-JUL-26 | Materials | Futures | -2.71% |
| Eternal Ltd. 28-JUL-26 | Technology | Futures | -2.73% |
| Vodafone Idea Ltd. 28-JUL-26 | Technology | Futures | -3.48% |
| Reliance Industries Ltd. 28-JUL-26 | Energy & Utilities | Futures | -3.67% |
| Kotak Mahindra Bank Ltd. 25-AUG-26 | Financial | Futures | -3.93% |
| ICICI Bank Ltd. 28-JUL-26 | Financial | Futures | -3.95% |
| HDFC Bank Ltd. 28-JUL-26 | Financial | Futures | -5.01% |
See All
Minimum investments
Min. for 1st investment
₹1,000
Min. for 2nd investment
₹100
Min. for SIP
₹100
Returns and rankings
Annualised returns
Absolute returns
| Name | 3Y | 5Y | 10Y | All |
|---|---|---|---|---|
| Fund returns | +7.1% | +6.3% | +5.7% | +6.4% |
| Category average (Hybrid Arbitrage) | +6.8% | +5.6% | +5.7% | -- |
| Rank (Hybrid Arbitrage) | 22 | 21 | 14 | -- |
Exit load, stamp duty and tax
Exit load
Exit load of 0.5%, if redeemed within 30 days.
Stamp duty on investment: 0.005% (from July 1st, 2020)
from July 1st 2020
Tax implication
If you redeem within one year, returns are taxed at 20%. If you redeem after one year, returns exceeding Rs 1.25 lakh in a financial year are taxed at 12.5%.
Check past data
Compare similar funds
| Name | 1Y | 3Y | Fund Size(Cr) | |
|---|---|---|---|---|
 | +6.67% | +7.59% | 28,526.49 | |
 | +6.65% | +7.59% | 24,026.00 | |
 | +6.60% | +7.54% | 26,645.65 | |
 | +6.73% | +7.33% | 649.72 | |
 | +7.00% | -- | 396.49 | |
| Compare | ||||
Fund management
SRSatish RamanathanOct 2024 - PresentView details
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Satish Ramanathan
Oct 2024 - Present
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RFRuchi FozdarOct 2024 - PresentView details
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Ruchi Fozdar
Oct 2024 - Present
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ABAsit BhandarkarJul 2014 - PresentView details
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Asit Bhandarkar
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DGDeepak GuptaApr 2025 - PresentView details
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Deepak Gupta
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About JM Arbitrage Fund Direct Growth
JM Arbitrage Fund Direct Growth is a Hybrid Mutual Fund Scheme launched by JM Financial Mutual Fund. This scheme was made available to investors on 15 Sep 1994. Satish Ramanathan is the Current Fund Manager of JM Arbitrage Fund Direct Growth fund. The fund currently has an Asset Under Management(AUM) of ₹12,746 Cr and the Latest NAV as of 20 Jul 2026 is ₹37.06.
The JM Arbitrage Fund Direct Growth is rated Low risk. Minimum SIP Investment is set to ₹100. Minimum Lumpsum Investment is ₹1,000. Exit load of 0.5%, if redeemed within 30 days.
;
Investment Objective
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.
Fund benchmarkNIFTY 50 Arbitrage Total Return Index
Fund house
Rank (total assets)#32 in India
Total AUM₹12,746.12 Cr
Date of Incorporation15 Sep 1994
Launch Date15 Sep 1994
AddressOne International Centre, 22nd Floor,Tower 2, Senapati Bapat Marg,Prabhadevi, Mumbai Mumbai 400013
Websitewww.karvymfs.com
AddressKarvy House, No. 46, 8-2-609/K, Avenue 4, Street No.1 Banjara Hills,