Mahindra Manulife Arbitrage Fund
Mahindra Manulife Arbitrage Fund is structured for low-volatility returns through substantial cash and liquid fund holdings that cushion equity arbitrage positions, with banking stocks anchoring the modest equity exposure. The fund's negative sector tilts and rotating stock positions suggest the manager is selectively capturing merger-arb and valuation dislocations while maintaining defensive positioning. Recent trimming of net receivables alongside tactical bank stock adjustments signals cautious conviction—favoring established financial names over broader equity bets in a potentially uncertain near-term environment.
Portfolio analysis · April 2026
NAV & Returns
| Plan | NAV | 1M | 1Y | 3Y CAGR | 5Y CAGR |
|---|---|---|---|---|---|
| Direct Growth | ₹13.5178 | — | — | — | — |
| Regular Growth | ₹12.9011 | +0.25% | +5.27% | +5.65% | +4.82% |
| Direct IDCW | ₹13.5178 | — | — | — | — |
| Regular IDCW | ₹12.9011 | — | — | — | — |
Portfolio Metrics(latest month)
vs Category Peers
Highly DifferentiatedActive 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 |
|---|---|
| Canara Bank | 2.75% |
| InterGlobe Aviation Limited | 1.49% |
| JSW Steel Limited | 0.08% |
Full Holdings
| # | Holding | % to NAV |
|---|---|---|
| 1 | Net Receivables / (Payables) nan | 70.36% |
| 2 | Mahindra Manulife Low Duration Fund - Direct Plan -Growth INF174V01267 | 14.98% |
| 3 | Mahindra Manulife Liquid Fund -Direct Plan -Growth INF174V01044 | 8.13% |
| 4 | HDFC Bank Limited INE040A01034 | 7.75% |
| 5 | Triparty Repo nan | 6.90% |
| 6 | Tata Power Company Limited INE245A01021 | 6.20% |
| 7 | Hindalco Industries Limited INE038A01020 | 5.70% |
| 8 | ICICI Bank Limited INE090A01021 | 5.28% |
| 9 | Axis Bank Limited INE238A01034 | 4.52% |
| 10 | Titan Company Limited INE280A01028 | 4.03% |
| 11 | Maruti Suzuki India Limited INE585B01010 | 3.97% |
| 12 | Tata Steel Limited INE081A01020 | 3.93% |
| 13 | Reliance Industries Limited INE002A01018 | 3.50% |
| 14 | Canara Bank INE476A01022 | 2.75% |
| 15 | Indus Towers Limited INE121J01017 | 2.48% |
| 16 | Kotak Mahindra Bank Ltd INE237A01036 | 2.46% |
| 17 | Bharti Airtel Limited INE397D01024 | 2.31% |
| 18 | Bajaj Finserv Limited INE918I01026 | 2.14% |
| 19 | Sun Pharmaceutical Industries Limited INE044A01036 | 1.97% |
| 20 | Jio Financial Services Limited INE758E01017 | 1.86% |
Sector Allocation
Top 10 sectors by % to NAV. Excludes derivatives.
Frequently Asked Questions
How many stocks does Mahindra Manulife Arbitrage Fund hold?
Mahindra Manulife Arbitrage Fund holds 26 stocks as per the latest AMFI portfolio disclosure. The top 5 positions account for 42.76% of NAV.
What is the largest holding in Mahindra Manulife Arbitrage Fund?
The largest position in Mahindra Manulife Arbitrage Fund is Net Receivables / (Payables), accounting for 70.36% of NAV in the nan sector.
Is Mahindra Manulife Arbitrage Fund a concentrated or diversified fund?
With a Gini coefficient of 0.442, Mahindra Manulife Arbitrage Fund is well-diversified. The HHI concentration index is 57,462 bps, which is above the 2500 bps threshold for high concentration. The top 5 holdings together make up 42.76% of the portfolio.
What is the market cap allocation of Mahindra Manulife Arbitrage Fund?
Based on SEBI's AMFI classification, Mahindra Manulife Arbitrage Fund's equity portfolio is split as: Large Cap: 62.43%, Mid Cap: 3.17%, Small Cap: 0.00%. This reflects the fund's positioning within the market cap spectrum.
Which sectors does Mahindra Manulife Arbitrage Fund invest in most?
Mahindra Manulife Arbitrage Fund has the highest allocation to nan (100.37%), Diversified FMCG (0.00%), Transport Services (-0.01%). The fund is invested across 15 sectors in total.
How actively managed is Mahindra Manulife Arbitrage Fund compared to other Arbitrage Fund funds?
Mahindra Manulife Arbitrage Fund has an Active Share of 97.28%, classifying it as "Highly Differentiated" among 34 Arbitrage Fund peers. This means the fund takes significantly different stock positions compared to its category peers.
What changed in Mahindra Manulife Arbitrage Fund's portfolio in the latest month?
Between 2026-03-31 and 2026-04-30, Mahindra Manulife Arbitrage Fund added 3 new stocks (including Canara Bank) and exited 2 stocks (including UltraTech Cement Limited). Total holding count increased from 53 to 54 stocks.