Nippon India Arbitrage Fund
The fund is capitalizing on arbitrage opportunities with heavy reliance on liquid instruments, particularly its own money market fund at 13.7%. The manager's conviction has shifted noticeably toward equity selection, evidenced by a sharp reduction in liquid fund holdings and strategic additions across IT, infrastructure, and auto sectors, signaling confidence in near-term market dislocations. Banks remain the dominant sector exposure, positioning the portfolio to benefit from financial sector strength while maintaining flexibility through significant cash equivalents.
Portfolio analysis · April 2026
NAV & Returns
| Plan | NAV | 1M | 3M | 6M | 1Y | 3Y CAGR | 5Y CAGR |
|---|---|---|---|---|---|---|---|
| Regular Growth | ₹27.8485 | +0.32% | +1.27% | +2.83% | +5.76% | +6.76% | +5.87% |
Portfolio Metrics(latest month)
What Changed2026-03-31 → 2026-04-30
| Stock | Weight |
|---|---|
| Coforge Limited | 0.24% |
| Cummins India Limited | 0.15% |
| Power Grid Corporation of India Limited | 0.12% |
| Infosys Limited | 0.11% |
| Info Edge (India) Limited | 0.11% |
| Muthoot Finance Limited | 0.07% |
| Adani Power Limited | 0.07% |
| Tube Investments of India Limited | 0.06% |
| HCL Technologies Limited | 0.06% |
| Cochin Shipyard Limited | 0.06% |
| KEI Industries Limited | 0.05% |
| Coal India Limited | 0.04% |
| PG Electroplast Limited | 0.04% |
| Jindal Steel Limited | 0.04% |
| Power Finance Corporation Limited | 0.04% |
| Bharat Forge Limited | 0.03% |
| Oberoi Realty Limited | 0.03% |
| Swiggy Limited | 0.03% |
| National Aluminium Company Limited | 0.02% |
| Trent Limited | 0.02% |
| Avenue Supermarts Limited | 0.02% |
| Page Industries Limited | 0.02% |
| Indian Bank | 0.01% |
| ABB India Limited | 0.01% |
| SBI Cards and Payment Services Limited | 0.01% |
| Supreme Industries Limited | 0.01% |
| Oil India Limited | 0.01% |
| Godrej Consumer Products Limited | 0.01% |
| Small Industries Dev Bank of India** | 1.16% |
| Canara Bank** | 0.58% |
Full Holdings
| # | Holding | % to NAV |
|---|---|---|
| 1 | Nippon India Money Market Fund Dir Pl-Growth-Gr Op INF204K01ZP3 | 13.70% |
| 2 | Nippon India Ultra Short Duration Fund- Dr Gr Op INF204K01YH3 | 6.06% |
| 3 | Triparty Repo | 5.85% |
| 4 | HDFC Bank Limited INE040A01034 | 5.37% |
| 5 | Bharti Airtel Limited INE397D01024 | 3.03% |
| 6 | ICICI Bank Limited INE090A01021 | 2.73% |
| 7 | HDFC Bank Limited_30/06/2026 | 2.68%(der) |
| 8 | HDFC Bank Limited_26/05/2026 | 2.65%(der) |
| 9 | Reliance Industries Limited INE002A01018 | 2.55% |
| 10 | Axis Bank Limited INE238A01034 | 2.15% |
| 11 | JSW Steel Limited_26/05/2026 | 2.11%(der) |
| 12 | JSW Steel Limited INE019A01038 | 2.10% |
| 13 | Eternal Limited INE758T01015 | 2.09% |
| 14 | Axis Bank Limited_26/05/2026 | 2.04%(der) |
| 15 | State Bank of India INE062A01020 | 2.02% |
| 16 | Bharti Airtel Limited_26/05/2026 | 1.85%(der) |
| 17 | Kotak Mahindra Bank Limited INE237A01036 | 1.85% |
| 18 | Eternal Limited_26/05/2026 | 1.79%(der) |
| 19 | ICICI Bank Limited_26/05/2026 | 1.78%(der) |
| 20 | Maruti Suzuki India Limited INE585B01010 | 1.71% |
Sector Allocation
Top 10 sectors by % to NAV. Excludes derivatives.