Franklin India Arbitrage Fund
Franklin India Arbitrage Fund has rotated toward higher-conviction picks in banking and select quality names, evidenced by significant inflows into Sun Pharma and fresh positions in infrastructure plays like Adani Ports and Hindalco. The manager is lightening its largest holdings while maintaining heavy banking exposure at nearly 20 percent, signaling selective optimization rather than fundamental repositioning. The strategy remains anchored in debt-like securities and low-volatility equities typical of arbitrage mandates, with modest turnover suggesting measured conviction in recent market opportunities.
Portfolio analysis · April 2026
NAV & Returns
| Plan | NAV | 1M | 3M | 6M | 1Y | 3Y CAGR | 5Y CAGR |
|---|---|---|---|---|---|---|---|
| Regular Growth | ₹10.9388 | +0.31% | +1.35% | +3.00% | +6.07% | — | — |
Portfolio Metrics(latest month)
What Changed2026-03-31 → 2026-04-30
| Stock | Weight |
|---|---|
| Oil & Natural Gas Corporation Ltd | 1.10% |
| Adani Ports and Special Economic Zone Ltd | 0.69% |
| Hindalco Industries Ltd | 0.37% |
| Jubilant Foodworks Ltd | 0.31% |
| United Spirits Ltd | 0.13% |
| Grasim Industries Ltd | 0.10% |
| Godrej Consumer Products Ltd | 0.09% |
| REC Ltd | 0.06% |
| Coforge Ltd | 0.06% |
| Biocon Ltd | 0.04% |
| Fortis Healthcare Ltd | 0.03% |
| CG Power and Industrial Solutions Ltd | 0.03% |
| IndusInd Bank Ltd | 0.03% |
| Hero MotoCorp Ltd | 0.03% |
| Eicher Motors Ltd | 0.02% |
| GMR Airports Ltd | 0.02% |
| Lupin Ltd | 0.02% |
| APL Apollo Tubes Ltd | 0.01% |
| Suzlon Energy Ltd | 0.01% |
| Adani Power Ltd | 0.01% |
| Exide Industries Ltd | 0.01% |
| National Bank For Agriculture & Rural Development (17-Mar-2027) ** | 3.96% |
| Union Bank of India (12-Mar-2027) | 0.79% |
Full Holdings
| # | Holding | % to NAV |
|---|---|---|
| 1 | Franklin India Money Market Fund Direct-Growth Plan ^^ ~ INF090I01GV8 | 11.87% |
| 2 | HDFC Bank Ltd $ ~~ INE040A01034 | 4.64% |
| 3 | Reliance Industries Ltd $ # INE002A01018 | 4.28% |
| 4 | ICICI Bank Ltd # ~~ INE090A01021 | 4.27% |
| 5 | Union Bank of India (16-Mar-2027) INE692A16LS3 | 3.97% |
| 6 | National Bank For Agriculture & Rural Development (17-Mar-2027) ** INE261F16AP5 | 3.96% |
| 7 | Credila Financial Services Ltd (01-Mar-2027) **@ INE539K14BZ6 | 3.16% |
| 8 | Vodafone Idea Ltd INE669E01016 | 2.63% |
| 9 | Larsen & Toubro Ltd INE018A01030 | 2.46% |
| 10 | Sun Pharmaceutical Industries Ltd INE044A01036 | 2.27% |
| 11 | Bharti Airtel Ltd INE397D01024 | 2.18% |
| 12 | State Bank of India INE062A01020 | 2.14% |
| 13 | Eternal Ltd $$ ## INE758T01015 | 2.13% |
| 14 | Bharat Electronics Ltd INE263A01024 | 2.10% |
| 15 | Axis Bank Ltd !! ~~ INE238A01034 | 2.09% |
| 16 | HDFC Bank Ltd (24-Feb-2027) INE040A16IO0 | 1.99% |
| 17 | Mahindra & Mahindra Ltd INE101A01026 | 1.75% |
| 18 | Adani Enterprises Ltd # * INE423A01024 | 1.72% |
| 19 | Asian Paints Ltd INE021A01026 | 1.71% |
| 20 | Tata Power Co Ltd INE245A01021 | 1.52% |
Sector Allocation
Top 10 sectors by % to NAV. Excludes derivatives.