LIC MF Arbitrage Fund
LIC's arbitrage fund maintains a heavily concentrated portfolio tilted toward banking and financial services, capturing structural opportunities in these defensive, dividend-yielding sectors. The recent addition of quality names like Sun Pharma and NTPC alongside marginal increases in cyclical exposure via Tata Steel suggests the manager is cautiously broadening conviction beyond financials while retaining significant cash buffers. The outsized allocation to its own money market fund and the reduction in receivables signal positioning for potential liquidity tightening, though the fund's arbitrage-focused design continues to prioritize capital preservation over growth.
Portfolio analysis · April 2026
NAV & Returns
| Plan | NAV | 1M | 1Y | 3Y CAGR | 5Y CAGR |
|---|---|---|---|---|---|
| Direct Growth | ₹15.2438 | — | — | — | — |
| Regular Growth | ₹14.4968 | +0.33% | +5.67% | +6.53% | +5.64% |
Portfolio Metrics(latest month)
vs Category Peers
Active Stock PickerActive Share = ½Σ|wfund − wpeer|, computed using leave-one-out peer portfolio within SEBI category.
Similar Funds in Category
What Changed2026-03-31 → 2026-04-30
| Stock | Weight |
|---|---|
| Sun Pharmaceutical Industries Ltd. | 0.96% |
| NTPC Ltd. | 0.61% |
| Indus Towers Ltd. | 0.54% |
| Bajaj Finserv Ltd. | 0.07% |
| Asian Paints Ltd. | 0.05% |
Full Holdings
| # | Holding | % to NAV |
|---|---|---|
| 1 | LIC MF MONEY MARKET FUND-DIRECT PLAN-GR INF767K01RE0 | 17.65% |
| 2 | 7.83% National Bk for Agriculture & Rural Dev. INE261F08ED0 | 8.42% |
| 3 | HDFC Bank Ltd. INE040A01034 | 6.56% |
| 4 | State Bank of India INE062A01020 | 4.92% |
| 5 | Treps | 4.91% |
| 6 | Bharti Airtel Ltd. INE397D01024 | 4.88% |
| 7 | GMR Airports Ltd. INE776C01039 | 4.79% |
| 8 | Reliance Industries Ltd. INE002A01018 | 4.68% |
| 9 | Mahindra & Mahindra Ltd. INE101A01026 | 4.59% |
| 10 | Kotak Mahindra Bank Ltd. INE237A01036 | 4.45% |
| 11 | ICICI Bank Ltd. INE090A01021 | 4.02% |
| 12 | Bharat Electronics Ltd. INE263A01024 | 3.97% |
| 13 | Bajaj Finance Ltd. INE296A01032 | 3.68% |
| 14 | Tata Steel Ltd. INE081A01020 | 3.61% |
| 15 | Axis Bank Ltd. INE238A01034 | 2.40% |
| 16 | LIC MF LIQUID FUND-DR PLN-GR INF767K01DN1 | 2.40% |
| 17 | Jio Financial Services Ltd. INE758E01017 | 2.23% |
| 18 | Maruti Suzuki India Ltd. INE585B01010 | 1.66% |
| 19 | Punjab National Bank INE160A01022 | 0.97% |
| 20 | Sun Pharmaceutical Industries Ltd. INE044A01036 | 0.96% |
Sector Allocation
Top 10 sectors by % to NAV. Excludes derivatives.
Frequently Asked Questions
How many stocks does LIC MF Arbitrage Fund hold?
LIC MF Arbitrage Fund holds 45 stocks as per the latest AMFI portfolio disclosure. The top 5 positions account for 42.43% of NAV.
What is the largest holding in LIC MF Arbitrage Fund?
The largest position in LIC MF Arbitrage Fund is LIC MF MONEY MARKET FUND-DIRECT PLAN-GR, accounting for 17.65% of NAV.
Is LIC MF Arbitrage Fund a concentrated or diversified fund?
With a Gini coefficient of 0.654, LIC MF Arbitrage Fund is highly concentrated. The HHI concentration index is 64,279 bps, which is above the 2500 bps threshold for high concentration. The top 5 holdings together make up 42.43% of the portfolio.
What is the market cap allocation of LIC MF Arbitrage Fund?
Based on SEBI's AMFI classification, LIC MF Arbitrage Fund's equity portfolio is split as: Large Cap: 55.30%, Mid Cap: 5.83%, Small Cap: 0.48%. This reflects the fund's positioning within the market cap spectrum.
Which sectors does LIC MF Arbitrage Fund invest in most?
LIC MF Arbitrage Fund has the highest allocation to Banks (24.20%), CRISIL AAA (8.42%), Automobiles (6.69%). The fund is invested across 23 sectors in total.
How actively managed is LIC MF Arbitrage Fund compared to other Arbitrage Fund funds?
LIC MF Arbitrage Fund has an Active Share of 67.62%, classifying it as "Active Stock Picker" among 34 Arbitrage Fund peers. This indicates a moderate level of differentiation from category peers.
What changed in LIC MF Arbitrage Fund's portfolio in the latest month?
Between 2026-03-31 and 2026-04-30, LIC MF Arbitrage Fund added 5 new stocks (including Sun Pharmaceutical Industries Ltd.) and exited 1 stock (including Housing & Urban Development Corp Ltd.). Total holding count increased from 43 to 47 stocks.