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 | 1Y | 3Y CAGR | 5Y CAGR |
|---|---|---|---|---|---|
| Regular Growth | ₹27.8637 | +0.31% | +5.82% | +6.75% | +5.88% |
Portfolio Metrics(latest month)
vs Category Peers
Balanced ApproachActive 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 |
|---|---|
| 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.
Frequently Asked Questions
How many stocks does Nippon India Arbitrage Fund hold?
Nippon India Arbitrage Fund holds 176 stocks as per the latest AMFI portfolio disclosure. The top 5 positions account for 30.89% of NAV.
What is the largest holding in Nippon India Arbitrage Fund?
The largest position in Nippon India Arbitrage Fund is Nippon India Money Market Fund Dir Pl-Growth-Gr Op, accounting for 13.70% of NAV.
Is Nippon India Arbitrage Fund a concentrated or diversified fund?
With a Gini coefficient of 0.688, Nippon India Arbitrage Fund is highly concentrated. The HHI concentration index is 33,643 bps, which is above the 2500 bps threshold for high concentration. The top 5 holdings together make up 30.89% of the portfolio.
What is the market cap allocation of Nippon India Arbitrage Fund?
Based on SEBI's AMFI classification, Nippon India Arbitrage Fund's equity portfolio is split as: Large Cap: 49.20%, Mid Cap: 14.96%, Small Cap: 3.41%. This reflects the fund's positioning within the market cap spectrum.
Which sectors does Nippon India Arbitrage Fund invest in most?
Nippon India Arbitrage Fund has the highest allocation to Banks (17.52%), Finance (5.45%), Automobiles (4.67%). The fund is invested across 50 sectors in total.
How actively managed is Nippon India Arbitrage Fund compared to other Arbitrage Fund funds?
Nippon India Arbitrage Fund has an Active Share of 45.92%, classifying it as "Balanced Approach" among 34 Arbitrage Fund peers. This indicates a moderate level of differentiation from category peers.
What changed in Nippon India Arbitrage Fund's portfolio in the latest month?
Between 2026-03-31 and 2026-04-30, Nippon India Arbitrage Fund added 30 new stocks (including Coforge Limited) and exited 7 stocks (including Nippon India Liquid Fund-Direct Growth Plan). Total holding count increased from 156 to 179 stocks.