Funds/Arbitrage Fund/Aditya Birla Sun Life Arbitrage Fund

Aditya Birla Sun Life Arbitrage Fund

Aditya Birla Sun Life Mutual Fund·Arbitrage Fund·vs Nifty 50 Arbitrage TRI

The fund maintains its arbitrage-focused positioning with nearly two-thirds equity exposure, relying heavily on internal liquidity funds (19.2%) to manage settlement cycles. Banking sector concentration at 16.8% combined with recent shifts toward non-banking financials and selective equity exits suggests the manager is rotating away from traditional blue-chips like TCS toward tactical opportunities in smaller-cap names and finance plays. The uptick in liquid fund allocation signals tightening cash management, implying reduced arbitrage spreads may be pressuring deployment efficiency.

Portfolio analysis · April 2026

NAV & Returns

Plan	NAV	1M	3M	6M	1Y	3Y CAGR	5Y CAGR
Regular Growth	₹27.8781	+0.29%	+1.24%	+2.81%	+5.82%	+6.85%	+5.90%

Returns above 1Y are CAGR. Direct plan rows highlighted. NAV from AMFI.

Portfolio Metrics(latest month)

Holdings

194

Top 5 Weight

28.21%

Top 10 Weight

40.08%

Active Share

—

Large Cap

43.62%

Gini

0.641

What Changed2026-03-31 → 2026-04-30

Holdings: 187 → 195+22 added−14 removed49 weight shifts ≥ 0.1%

Stock	Sector	Weight
Adani Power Limited	Power	0.21%
Muthoot Finance Limited	Finance	0.16%
Infosys Limited	IT - Software	0.12%
Samvardhana Motherson International Limited	Auto Components	0.11%
Union Bank of India	Banks	0.11%
SBI Cards & Payment Services Limited	Finance	0.09%
Vishal Mega Mart Ltd	Retailing	0.08%
POLYCAB INDIA Limited	Industrial Products	0.08%
Persistent Systems Limited	IT - Software	0.06%
Bharat Forge Limited	Auto Components	0.05%
Indian Bank	Banks	0.05%
Motilal Oswal Financial Services Limited	Capital Markets	0.04%
360 ONE WAM Ltd	Capital Markets	0.04%
Oil India Limited	Oil	0.04%
Avenue Supermarts Limited	Retailing	0.04%
KEI Industries Limited	Industrial Products	0.02%
Petronet LNG Limited	Gas	0.02%
TATA MOTORS PASSENGER VEHICL	Automobiles	0.01%
PG Electroplast Ltd	Consumer Durables	0.01%
Dixon Technologies (India) Limited	Consumer Durables	0.01%
Oberoi Realty Limited	Realty	0.01%
GODFREY PHILLIPS INDIA LTD	Cigarettes & Tobacco Products	0.01%

Full Holdings

#	Holding	Sector	Class	% to NAV
1	Aditya Birla Sun Life Money Manager Fund - Growth - Direct Plan INF209K01UU3	nan	MUTUAL_FUND	10.37%
2	HDFC Bank Limited INE040A01034	Banks	EQUITY	5.68%
3	Aditya Birla Sun Life Liquid Fund - Growth - Direct Plan INF209K01VA3	nan	MUTUAL_FUND	4.44%
4	Reliance Industries Limited INE002A01018	Petroleum Products	EQUITY	4.08%
5	Aditya Birla Sunlife Floating Rate Fund - Direct Plan - Growth INF209K01UX7	nan	MUTUAL_FUND	3.64%
6	Clearing Corporation of India Limited nan	nan	CASH_EQUIVALENT	3.18%
7	ICICI Bank Limited INE090A01021	Banks	EQUITY	2.78%
8	Axis Bank Limited INE238A01034	Banks	EQUITY	2.33%
9	Vodafone Idea Limited INE669E01016	Telecom - Services	EQUITY	1.79%
10	Kotak Mahindra Bank Limited INE237A01036	Banks	EQUITY	1.79%
11	Bharti Airtel Limited INE397D01024	Telecom - Services	EQUITY	1.52%
12	HDFC Bank Limited (15/02/2027) # INE040A16JC3	ICRA A1+	DEBT	1.47%
13	Small Industries Development Bank of India (28/01/2027) ** # INE556F16BW2	CRISIL A1+	DEBT	1.39%
14	Steel Authority of India Limited INE114A01011	Ferrous Metals	EQUITY	1.33%
15	National Bank For Agriculture and Rural Development (28/01/2027) ** # INE261F16AH2	ICRA A1+	DEBT	1.29%
16	Indus Towers Limited INE121J01017	Telecom - Services	EQUITY	1.28%
17	JSW Steel Limited INE019A01038	Ferrous Metals	EQUITY	1.24%
18	Multi Commodity Exchange of India Limited INE745G01043	Capital Markets	EQUITY	1.23%
19	Mahindra & Mahindra Limited INE101A01026	Automobiles	EQUITY	1.14%
20	National Bank For Agriculture and Rural Development (22/01/2027) # INE261F16AF6	ICRA A1+	DEBT	1.11%

Sector Allocation

nan21.9%

Banks16.8%

ICRA A1+7.9%

Finance4.7%

Petroleum Products4.7%

Telecom - Services4.6%

Ferrous Metals3.4%

Automobiles3.2%

Pharmaceuticals & Biotechnology2.6%

Power2.3%

Top 10 sectors by % to NAV. Excludes derivatives.