PGIM India Arbitrage Fund
PGIM India Arbitrage Fund maintains its classic strategy as a low-volatility cash alternative, holding 75.7% in cash and near-term treasuries while deploying the remainder in liquid mutual funds and blue-chip equities. The fund's heavy net receivables position—reflecting its core arbitrage operations—combined with concentrated bets in banking and large-cap stocks like HDFC Bank and L&T suggests it's positioned for steady returns with minimal portfolio friction. Recent exits from pharma and IT names while adding a fintech play signal modest repositioning toward financial sector exposure, though the overwhelmingly defensive posture indicates the manager prioritizes capital preservation over conviction bets.
Portfolio analysis · April 2026
NAV & Returns
| Plan | NAV | 1M | 1Y | 3Y CAGR | 5Y CAGR |
|---|---|---|---|---|---|
| Direct Growth | ₹20.6834 | — | — | — | — |
| Regular Growth | ₹19.2388 | +0.38% | +5.42% | +6.45% | +5.57% |
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 |
|---|---|
| Jio Financial Services Ltd. | 1.56% |
Full Holdings
| # | Holding | % to NAV |
|---|---|---|
| 1 | Net Receivables / (Payables) nan | 70.93% |
| 2 | PGIM India Liquid Fund INF223J01NS5 | 19.31% |
| 3 | HDFC Bank Ltd. INE040A01034 | 9.32% |
| 4 | Reliance Industries Ltd. INE002A01018 | 8.08% |
| 5 | Larsen & Toubro Ltd. INE018A01030 | 7.71% |
| 6 | Mahindra & Mahindra Ltd. INE101A01026 | 6.23% |
| 7 | Titan Company Ltd. INE280A01028 | 5.57% |
| 8 | 91 DAYS TBILL RED 04-06-2026 IN002025X489 | 5.16% |
| 9 | Clearing Corporation of India Ltd. nan | 4.74% |
| 10 | Vodafone Idea Ltd. INE669E01016 | 4.01% |
| 11 | HDFC Asset Management Company Ltd. INE127D01025 | 3.63% |
| 12 | PNB Housing Finance Ltd. INE572E01012 | 3.03% |
| 13 | ICICI Bank Ltd. INE090A01021 | 2.93% |
| 14 | Bharti Airtel Ltd. INE397D01024 | 2.69% |
| 15 | Ambuja Cements Ltd. INE079A01024 | 2.27% |
| 16 | DLF Ltd. INE271C01023 | 2.11% |
| 17 | Punjab National Bank INE160A01022 | 2.08% |
| 18 | Bank of Baroda INE028A01039 | 2.00% |
| 19 | Dabur India Ltd. INE016A01026 | 1.72% |
| 20 | Grasim Industries Ltd. INE047A01021 | 1.59% |
Sector Allocation
Top 10 sectors by % to NAV. Excludes derivatives.
Frequently Asked Questions
How many stocks does PGIM India Arbitrage Fund hold?
PGIM India Arbitrage Fund holds 25 stocks as per the latest AMFI portfolio disclosure. The top 5 positions account for 50.65% of NAV.
What is the largest holding in PGIM India Arbitrage Fund?
The largest position in PGIM India Arbitrage Fund is Net Receivables / (Payables), accounting for 70.93% of NAV in the nan sector.
Is PGIM India Arbitrage Fund a concentrated or diversified fund?
With a Gini coefficient of 0.471, PGIM India Arbitrage Fund is moderately concentrated. The HHI concentration index is 78,698 bps, which is above the 2500 bps threshold for high concentration. The top 5 holdings together make up 50.65% of the portfolio.
What is the market cap allocation of PGIM India Arbitrage Fund?
Based on SEBI's AMFI classification, PGIM India Arbitrage Fund's equity portfolio is split as: Large Cap: 59.08%, Mid Cap: 6.54%, Small Cap: 3.03%. This reflects the fund's positioning within the market cap spectrum.
Which sectors does PGIM India Arbitrage Fund invest in most?
PGIM India Arbitrage Fund has the highest allocation to nan (24.96%), Banks (18.67%), Petroleum Products (8.08%). The fund is invested across 14 sectors in total.
How actively managed is PGIM India Arbitrage Fund compared to other Arbitrage Fund funds?
PGIM India Arbitrage Fund has an Active Share of 100.00%, 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 PGIM India Arbitrage Fund's portfolio in the latest month?
Between 2026-03-31 and 2026-04-30, PGIM India Arbitrage Fund added 1 new stock (including Jio Financial Services Ltd.) and exited 5 stocks (including Aurobindo Pharma Ltd.). Total holding count decreased from 55 to 47 stocks.