Funds/Arbitrage Fund/Bank of India Arbitrage Fund

Bank of India Arbitrage Fund

Bank of India Mutual Fund·Arbitrage Fund·vs Nifty 50 Arbitrage TRI

The fund maintains its core arbitrage positioning with elevated equity exposure tilted toward financials and banks, reflecting confidence in the sector's spread opportunities. Recent portfolio rebalancing signals the manager is actively pursuing fresh arb plays in insurance and metals while trimming overweight banking positions, suggesting a tactical rotation toward less crowded opportunities. The significant inflow into domestic liquid funds alongside strategic equity shifts indicates disciplined capital allocation aimed at optimizing risk-adjusted returns in current market conditions.

Portfolio analysis · April 2026

NAV & Returns

Plan	NAV	1M	3M	6M	1Y	3Y CAGR	5Y CAGR
Primary	₹14.4494	+0.34%	+1.25%	+2.76%	+5.50%	+6.31%	+5.09%

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

Portfolio Metrics(latest month)

Holdings

Top 5 Weight

33.32%

Top 10 Weight

47.88%

Active Share

—

Large Cap

39.73%

Gini

0.351

What Changed2026-03-31 → 2026-04-30

Holdings: 38 → 37+7 added−8 removed23 weight shifts ≥ 0.1%

Stock	Sector	Weight
Indian Bank	Banks	2.85%
HDFC Life Insurance Company Limited	Insurance	2.59%
Samvardhana Motherson International Limited	Auto Components	2.16%
ICICI Prudential Life Insurance Company Limited	Insurance	2.12%
National Aluminium Company Limited	Non - Ferrous Metals	2.00%
Info Edge (India) Limited	Retailing	1.71%
182 Days Tbill (MD 22/10/2026)	SOVEREIGN	1.09%

Full Holdings

#	Holding	Sector	Class	% to NAV
1	Bank of India Liquid Fund Direct Plan - Growth INF761K01785		MUTUAL_FUND	13.52%
2	Net Receivables / (Payables)		CASH_EQUIVALENT	9.23%
3	JSW Steel Limited INE019A01038	Ferrous Metals	EQUITY	6.46%
4	ITC Limited INE154A01025	Diversified FMCG	EQUITY	5.05%
5	Sammaan Capital Limited INE148I01020	Finance	EQUITY	4.29%
6	Jio Financial Services Limited INE758E01017	Finance	EQUITY	4.00%
7	UPL Limited INE628A01036	Fertilizers & Agrochemicals	EQUITY	3.49%
8	Bharti Airtel Limited INE397D01024	Telecom - Services	EQUITY	2.99%
9	Indian Bank INE562A01011	Banks	EQUITY	2.85%
10	Grasim Industries Limited INE047A01021	Cement & Cement Products	EQUITY	2.64%
11	HDFC Life Insurance Company Limited INE795G01014	Insurance	EQUITY	2.59%
12	PNB Housing Finance Limited INE572E01012	Finance	EQUITY	2.42%
13	HDFC Bank Limited INE040A01034	Banks	EQUITY	2.36%
14	Godrej Properties Limited INE484J01027	Realty	EQUITY	2.25%
15	Kotak Mahindra Bank Limited INE237A01036	Banks	EQUITY	2.22%
16	364 Days Tbill (MD 08/10/2026) IN002025Z286	SOVEREIGN	DEBT	2.17%
17	Delhivery Limited INE148O01028	Transport Services	EQUITY	2.16%
18	Samvardhana Motherson International Limited INE775A01035	Auto Components	EQUITY	2.16%
19	RBL Bank Limited INE976G01028	Banks	EQUITY	2.14%
20	ICICI Prudential Life Insurance Company Limited INE726G01019	Insurance	EQUITY	2.12%

Sector Allocation

Finance13.6%

Banks12.3%

SOVEREIGN6.5%

Ferrous Metals6.5%

Diversified FMCG5.0%

Insurance4.7%

Realty4.1%

Fertilizers & Agrochemicals3.5%

Telecom - Services3.0%

Cement & Cement Products2.6%

Top 10 sectors by % to NAV. Excludes derivatives.