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Invest in direct mutual funds at zero charges via lump sump investments or SIPs
JM Arbitrage Fund Direct Growth
+7.14%
3Y annualised
-0.08% 1D
NAV: 21 May '26
₹36.70
Min. for SIP
₹100
Fund size (AUM)
₹366.72 Cr
Expense ratio
2.29%
Rating
2
Return calculator
Monthly investment
₹5,000
| Over the past | Total investment | Would've become | Historic returns | Returns |
|---|---|---|---|---|
| 1 year | ₹60,000 | ₹61,710 | +2.85% | |
| 3 years | ₹1,80,000 | ₹1,98,487 | +10.27% | |
| 5 years | ₹3,00,000 | ₹3,53,954 | +17.98% | |
| 10 years | ₹6,00,000 | ₹8,05,279 | +34.21% |
Holdings (243)
| Name | Sector | Instruments | Assets |
|---|---|---|---|
| HDFC Bank Ltd. | Financial | Equity | 5.01% |
| Multi Commodity Exchange Of India Ltd. | Services | Equity | 4.20% |
| Kotak Mahindra Bank Ltd. | Financial | Equity | 3.97% |
| JM Liquid Fund Direct-Growth | -- | Mutual Fund | 3.95% |
| ICICI Bank Ltd. | Financial | Equity | 3.76% |
| Bharti Airtel Ltd. | Communication | Equity | 3.64% |
| Tata Steel Ltd. | Metals & Mining | Equity | 3.17% |
| Reliance Industries Ltd. | Energy | Equity | 2.75% |
| Adani Ports and Special Economic Zone Ltd. | Services | Equity | 2.60% |
| Vodafone Idea Ltd. | Communication | Equity | 2.59% |
| Eternal Ltd. | Services | Equity | 2.42% |
| Bharat Heavy Electricals Ltd. | Capital Goods | Equity | 1.87% |
| Adani Enterprises Ltd. | Services | Equity | 1.75% |
| Yes Bank Ltd. | Financial | Equity | 1.72% |
| State Bank of India | Financial | Equity | 1.68% |
| LIC Housing Finance Ltd. | Financial | Equity | 1.59% |
| Lodha Developers Ltd. | Construction | Equity | 1.43% |
| Shriram Finance Ltd | Financial | Bonds | 1.38% |
| Reserve Bank of India | Financial | T-Bills | 1.36% |
| Reserve Bank of India | Financial | T-Bills | 1.35% |
| Reserve Bank of India | Financial | T-Bills | 1.35% |
| Reserve Bank of India | Financial | T-Bills | 1.34% |
| Reserve Bank of India | Financial | T-Bills | 1.34% |
| Reserve Bank of India | Financial | T-Bills | 1.33% |
| Titan Company Ltd. | Consumer Discretionary | Equity | 1.32% |
| JSW Steel Ltd. | Metals & Mining | Equity | 1.28% |
| Mankind Pharma Ltd. | Healthcare | Equity | 1.25% |
| Mahindra & Mahindra Ltd. | Automobile | Equity | 1.18% |
| Bank Of Baroda | Financial | Equity | 1.07% |
| Adani Energy Solutions Ltd. | Energy | Equity | 1.06% |
| Sammaan Capital Ltd. | Financial | Equity | 1.03% |
| NMDC Ltd. | Metals & Mining | Equity | 1.00% |
| Larsen & Toubro Ltd. | Construction | Equity | 0.96% |
| JIO Financial Services Ltd. | Financial | Equity | 0.95% |
| Maruti Suzuki India Ltd. | Automobile | Equity | 0.94% |
| Max Financial Services Ltd. | Financial | Equity | 0.86% |
| Indus Towers Ltd. | Communication | Equity | 0.80% |
| Bharat Electronics Ltd. | Capital Goods | Equity | 0.77% |
| Axis Bank Ltd. | Financial | Equity | 0.73% |
| IDFC First Bank Ltd. | Financial | Equity | 0.72% |
| Punjab National Bank | Financial | Equity | 0.69% |
| Grasim Industries Ltd. | Construction | Equity | 0.59% |
| The Indian Hotels Company Ltd. | Services | Equity | 0.57% |
| Sun Pharmaceutical Industries Ltd. | Healthcare | Equity | 0.57% |
| Reserve Bank of India | Financial | T-Bills | 0.54% |
| Reserve Bank of India | Financial | T-Bills | 0.54% |
| SBI Cards And Payment Services Ltd. | Financial | Equity | 0.53% |
| RBL Bank Ltd. | Financial | Equity | 0.52% |
| Hindalco Industries Ltd. | Metals & Mining | Equity | 0.52% |
| Info Edge (India) Ltd. | Services | Equity | 0.50% |
| HDFC Life Insurance Co Ltd. | Insurance | Equity | 0.49% |
| Shriram Finance Ltd | Financial | Equity | 0.49% |
| Crompton Greaves Consumer Electricals Ltd. | Consumer Discretionary | Equity | 0.47% |
| Adani Power Ltd. | Energy | Equity | 0.45% |
| Asian Paints Ltd. | Chemicals | Equity | 0.45% |
| Kalyan Jewellers India Ltd. | Consumer Discretionary | Equity | 0.45% |
| Canara Bank | Financial | Equity | 0.45% |
| Adani Green Energy Ltd. | Capital Goods | Equity | 0.44% |
| Biocon Ltd. | Healthcare | Equity | 0.44% |
| DLF Ltd. | Construction | Equity | 0.42% |
| Persistent Systems Ltd. | Technology | Equity | 0.41% |
| Steel Authority Of India Ltd. | Metals & Mining | Equity | 0.40% |
| Glenmark Pharmaceuticals Ltd. | Healthcare | Equity | 0.39% |
| Cipla Ltd. | Healthcare | Equity | 0.37% |
| Bandhan Bank Ltd. | Financial | Equity | 0.37% |
| Divi's Laboratories Ltd. | Healthcare | Equity | 0.37% |
| Ambuja Cements Ltd. | Construction | Equity | 0.37% |
| SBI Life Insurance Company Ltd. | Insurance | Equity | 0.35% |
| Britannia Industries Ltd. | Consumer Staples | Equity | 0.35% |
| Patanjali Foods Ltd. | Consumer Staples | Equity | 0.35% |
| ITC Ltd. | Consumer Staples | Equity | 0.34% |
| AU Small Finance Bank Ltd. | Financial | Equity | 0.33% |
| Waaree Energies Ltd. | Energy | Equity | 0.31% |
| Trent Ltd. | Services | Equity | 0.29% |
| Godrej Properties Ltd. | Construction | Equity | 0.29% |
| Manappuram Finance Ltd. | Financial | Equity | 0.29% |
| UPL Ltd. | Chemicals | Equity | 0.28% |
| Laurus Labs Ltd. | Healthcare | Equity | 0.28% |
| NBCC (India) Ltd. | Construction | Equity | 0.28% |
| ICICI Prudential Life Insurance Company Ltd. | Insurance | Equity | 0.27% |
| Max Healthcare Institute Ltd. | Healthcare | Equity | 0.27% |
| Dixon Technologies (India) Ltd. | Capital Goods | Equity | 0.26% |
| Bajaj Finserv Ltd. | Financial | Equity | 0.25% |
| FSN E-Commerce Ventures Ltd. | Services | Equity | 0.25% |
| Container Corporation Of India Ltd. | Services | Equity | 0.21% |
| Tata Power Company Ltd. | Energy | Equity | 0.19% |
| GMR Airports Ltd. | Construction | Equity | 0.18% |
| GAIL (India) Ltd. | Energy | Equity | 0.15% |
| ABB India Ltd. | Capital Goods | Equity | 0.15% |
| Power Finance Corporation Ltd. | Financial | Equity | 0.14% |
| Power Grid Corporation Of India Ltd. | Energy | Equity | 0.13% |
| NTPC Ltd. | Energy | Equity | 0.13% |
| Oberoi Realty Ltd. | Construction | Equity | 0.13% |
| Varun Beverages Ltd. | Consumer Staples | Equity | 0.13% |
| Nestle India Ltd. | Consumer Staples | Equity | 0.12% |
| The Federal Bank Ltd. | Financial | Equity | 0.12% |
| Eicher Motors Ltd. | Automobile | Equity | 0.12% |
| Ultratech Cement Ltd. | Construction | Equity | 0.11% |
| Sona BLW Precision Forgings Ltd. | Automobile | Equity | 0.10% |
| Bajaj Finance Ltd. | Financial | Equity | 0.10% |
| REC Ltd. | Financial | Equity | 0.09% |
| CG Power and Industrial Solutions Ltd. | Capital Goods | Equity | 0.09% |
| Dabur India Ltd. | Consumer Staples | Equity | 0.09% |
| Dr. Reddy's Laboratories Ltd. | Healthcare | Equity | 0.09% |
| Hindustan Aeronautics Ltd. | Capital Goods | Equity | 0.09% |
| Mphasis Ltd. | Technology | Equity | 0.09% |
| UNO Minda Ltd. | Automobile | Equity | 0.08% |
| PNB Housing Finance Ltd. | Financial | Equity | 0.07% |
| Aurobindo Pharma Ltd. | Healthcare | Equity | 0.06% |
| Hindustan Zinc Ltd. | Metals & Mining | Equity | 0.06% |
| Hindustan Unilever Ltd. | Consumer Staples | Equity | 0.06% |
| APL Apollo Tubes Ltd. | Metals & Mining | Equity | 0.05% |
| Interglobe Aviation Ltd. | Services | Equity | 0.05% |
| Prestige Estates Projects Ltd. | Construction | Equity | 0.05% |
| Apollo Hospitals Enterprise Ltd. | Healthcare | Equity | 0.05% |
| HDFC Asset Management Company Ltd. | Financial | Equity | 0.04% |
| United Spirits Ltd. | Consumer Staples | Equity | 0.04% |
| Hero Motocorp Ltd. | Automobile | Equity | 0.04% |
| Bharat Petroleum Corporation Ltd. | Energy | Equity | 0.03% |
| Cholamandalam Investment and Finance Company Ltd. | Financial | Equity | 0.03% |
| Delhivery Ltd. | Services | Equity | 0.03% |
| Inox Wind Ltd. | Capital Goods | Equity | 0.02% |
| Fortis Healthcare Ltd. | Healthcare | Equity | 0.02% |
| JSW Energy Ltd. | Capital Goods | Equity | 0.02% |
| Mazagon Dock Shipbuilders Ltd. | Capital Goods | Equity | 0.01% |
| Tata Motors Passenger Vehicles Ltd. | Automobile | Equity | 0.01% |
| Tata Motors Passenger Vehicles Ltd. | Automobile | Futures | -0.01% |
| Mazagon Dock Shipbuilders Ltd. | Capital Goods | Futures | -0.01% |
| JSW Energy Ltd. | Capital Goods | Futures | -0.02% |
| Fortis Healthcare Ltd. | Healthcare | Futures | -0.02% |
| Inox Wind Ltd. | Capital Goods | Futures | -0.02% |
| Delhivery Ltd. | Services | Futures | -0.03% |
| Cholamandalam Investment and Finance Company Ltd. | Financial | Futures | -0.03% |
| Bharat Petroleum Corporation Ltd. | Energy | Futures | -0.03% |
| Hero Motocorp Ltd. | Automobile | Futures | -0.04% |
| United Spirits Ltd. | Consumer Staples | Futures | -0.04% |
| HDFC Asset Management Company Ltd. | Financial | Futures | -0.04% |
| Apollo Hospitals Enterprise Ltd. | Healthcare | Futures | -0.05% |
| Prestige Estates Projects Ltd. | Construction | Futures | -0.05% |
| Interglobe Aviation Ltd. | Services | Futures | -0.05% |
| APL Apollo Tubes Ltd. | Metals & Mining | Futures | -0.05% |
| Hindustan Unilever Ltd. | Consumer Staples | Futures | -0.06% |
| Hindustan Zinc Ltd. | Metals & Mining | Futures | -0.06% |
| Aurobindo Pharma Ltd. | Healthcare | Futures | -0.06% |
| PNB Housing Finance Ltd. | Financial | Futures | -0.07% |
| UNO Minda Ltd. | Automobile | Futures | -0.08% |
| Mphasis Ltd. | Technology | Futures | -0.09% |
| Hindustan Aeronautics Ltd. | Capital Goods | Futures | -0.09% |
| Dr. Reddy's Laboratories Ltd. | Healthcare | Futures | -0.09% |
| Dabur India Ltd. | Consumer Staples | Futures | -0.09% |
| CG Power and Industrial Solutions Ltd. | Capital Goods | Futures | -0.09% |
| REC Ltd. | Financial | Futures | -0.09% |
| Bajaj Finance Ltd. | Financial | Futures | -0.10% |
| Sona BLW Precision Forgings Ltd. | Automobile | Futures | -0.10% |
| Ultratech Cement Ltd. | Construction | Futures | -0.11% |
| Eicher Motors Ltd. | Automobile | Futures | -0.12% |
| The Federal Bank Ltd. | Financial | Futures | -0.12% |
| Nestle India Ltd. | Consumer Staples | Futures | -0.12% |
| Varun Beverages Ltd. | Consumer Staples | Futures | -0.13% |
| Oberoi Realty Ltd. | Construction | Futures | -0.13% |
| NTPC Ltd. | Energy | Futures | -0.13% |
| Power Grid Corporation Of India Ltd. | Energy | Futures | -0.13% |
| JIO Financial Services Ltd. | Financial | Futures | -0.14% |
| Power Finance Corporation Ltd. | Financial | Futures | -0.14% |
| ABB India Ltd. | Capital Goods | Futures | -0.15% |
| GAIL (India) Ltd. | Energy | Futures | -0.15% |
| GMR Airports Ltd. | Construction | Futures | -0.18% |
| Tata Power Company Ltd. | Energy | Futures | -0.19% |
| Container Corporation Of India Ltd. | Services | Futures | -0.21% |
| FSN E-Commerce Ventures Ltd. | Services | Futures | -0.25% |
| Bajaj Finserv Ltd. | Financial | Futures | -0.25% |
| Dixon Technologies (India) Ltd. | Capital Goods | Futures | -0.26% |
| Max Healthcare Institute Ltd. | Healthcare | Futures | -0.27% |
| ICICI Prudential Life Insurance Company Ltd. | Insurance | Futures | -0.27% |
| NBCC (India) Ltd. | Construction | Futures | -0.28% |
| Laurus Labs Ltd. | Healthcare | Futures | -0.28% |
| UPL Ltd. | Chemicals | Futures | -0.29% |
| Godrej Properties Ltd. | Construction | Futures | -0.29% |
| Manappuram Finance Ltd. | Financial | Futures | -0.29% |
| Trent Ltd. | Services | Futures | -0.30% |
| Waaree Energies Ltd. | Energy | Futures | -0.31% |
| AU Small Finance Bank Ltd. | Financial | Futures | -0.33% |
| ITC Ltd. | Consumer Staples | Futures | -0.34% |
| Patanjali Foods Ltd. | Consumer Staples | Futures | -0.35% |
| Britannia Industries Ltd. | Consumer Staples | Futures | -0.35% |
| SBI Life Insurance Company Ltd. | Insurance | Futures | -0.35% |
| Ambuja Cements Ltd. | Construction | Futures | -0.37% |
| Divi's Laboratories Ltd. | Healthcare | Futures | -0.37% |
| Bandhan Bank Ltd. | Financial | Futures | -0.37% |
| Cipla Ltd. | Healthcare | Futures | -0.38% |
| Glenmark Pharmaceuticals Ltd. | Healthcare | Futures | -0.40% |
| Steel Authority Of India Ltd. | Metals & Mining | Futures | -0.40% |
| Persistent Systems Ltd. | Technology | Futures | -0.41% |
| DLF Ltd. | Construction | Futures | -0.42% |
| Biocon Ltd. | Healthcare | Futures | -0.44% |
| Adani Green Energy Ltd. | Capital Goods | Futures | -0.44% |
| Canara Bank | Financial | Futures | -0.45% |
| Kalyan Jewellers India Ltd. | Consumer Discretionary | Futures | -0.45% |
| Asian Paints Ltd. | Chemicals | Futures | -0.45% |
| Adani Power Ltd. | Energy | Futures | -0.45% |
| Crompton Greaves Consumer Electricals Ltd. | Consumer Discretionary | Futures | -0.47% |
| Shriram Finance Ltd | Financial | Futures | -0.49% |
| HDFC Life Insurance Co Ltd. | Insurance | Futures | -0.50% |
| Info Edge (India) Ltd. | Services | Futures | -0.50% |
| Hindalco Industries Ltd. | Metals & Mining | Futures | -0.52% |
| RBL Bank Ltd. | Financial | Futures | -0.53% |
| SBI Cards And Payment Services Ltd. | Financial | Futures | -0.53% |
| Sun Pharmaceutical Industries Ltd. | Healthcare | Futures | -0.57% |
| The Indian Hotels Company Ltd. | Services | Futures | -0.58% |
| Grasim Industries Ltd. | Construction | Futures | -0.59% |
| Punjab National Bank | Financial | Futures | -0.69% |
| IDFC First Bank Ltd. | Financial | Futures | -0.73% |
| Axis Bank Ltd. | Financial | Futures | -0.74% |
| Bharat Electronics Ltd. | Capital Goods | Futures | -0.78% |
| Indus Towers Ltd. | Communication | Futures | -0.80% |
| JIO Financial Services Ltd. | Financial | Futures | -0.81% |
| Max Financial Services Ltd. | Financial | Futures | -0.87% |
| Maruti Suzuki India Ltd. | Automobile | Futures | -0.95% |
| Larsen & Toubro Ltd. | Construction | Futures | -0.96% |
| NMDC Ltd. | Metals & Mining | Futures | -1.00% |
| Sammaan Capital Ltd. | Financial | Futures | -1.04% |
| Adani Energy Solutions Ltd. | Energy | Futures | -1.07% |
| Bank Of Baroda | Financial | Futures | -1.08% |
| Mahindra & Mahindra Ltd. | Automobile | Futures | -1.19% |
| Mankind Pharma Ltd. | Healthcare | Futures | -1.26% |
| JSW Steel Ltd. | Metals & Mining | Futures | -1.29% |
| Titan Company Ltd. | Consumer Discretionary | Futures | -1.32% |
| Lodha Developers Ltd. | Construction | Futures | -1.44% |
| LIC Housing Finance Ltd. | Financial | Futures | -1.60% |
| State Bank of India | Financial | Futures | -1.68% |
| Yes Bank Ltd. | Financial | Futures | -1.73% |
| Adani Enterprises Ltd. | Services | Futures | -1.75% |
| Bharat Heavy Electricals Ltd. | Capital Goods | Futures | -1.88% |
| Eternal Ltd. | Services | Futures | -2.43% |
| Vodafone Idea Ltd. | Communication | Futures | -2.60% |
| Adani Ports and Special Economic Zone Ltd. | Services | Futures | -2.61% |
| Reliance Industries Ltd. | Energy | Futures | -2.76% |
| Tata Steel Ltd. | Metals & Mining | Futures | -3.18% |
| Bharti Airtel Ltd. | Communication | Futures | -3.66% |
| ICICI Bank Ltd. | Financial | Futures | -3.78% |
| Kotak Mahindra Bank Ltd. | Financial | Futures | -4.00% |
| Multi Commodity Exchange Of India Ltd. | Services | Futures | -4.22% |
| HDFC Bank Ltd. | Financial | Futures | -5.04% |
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% | +6.2% | +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) | |
|---|---|---|---|---|
Tata Arbitrage Fund Direct Growth | +6.72% | +7.62% | 21,823.93 | |
Invesco India Arbitrage Fund Direct Growth | +6.72% | +7.61% | 27,320.70 | |
Aditya Birla Sun Life Arbitrage Fund Direct Growth | +6.62% | +7.56% | 25,678.50 | |
SBI Arbitrage Opportunities Fund Direct Growth | +6.60% | +7.49% | 42,847.28 | |
Bandhan Arbitrage Fund Direct Growth | +6.39% | +7.46% | 7,895.29 | |
| Compare | ||||
Fund management
SRSatish RamanathanOct 2024 - PresentView details
SR
Satish Ramanathan
Oct 2024 - Present
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RFRuchi FozdarOct 2024 - PresentView details
RF
Ruchi Fozdar
Oct 2024 - Present
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ABAsit BhandarkarJul 2014 - PresentView details
AB
Asit Bhandarkar
Jul 2014 - Present
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DGDeepak GuptaApr 2025 - PresentView details
DG
Deepak Gupta
Apr 2025 - Present
View details
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 ₹13,427 Cr and the Latest NAV as of 21 May 2026 is ₹36.70.
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₹13,426.97 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,