Mahindra Manulife Arbitrage Fund
NAV
₹13.85
as of 6 Oct 2026
Mahindra Manulife Arbitrage Fund is an open-ended Arbitrage Fund scheme from Mahindra Manulife Mutual Fund managing ₹132 crore (as of 31 Jul 2026). Its Direct-plan NAV is ₹13.85 as of 6 Oct 2026. The expense ratio is 1.16% a year. Managed by Rahul Pal. This page is factual data only – it carries no rating and no recommendation.
Key facts
- Expense ratio
- 1.16% / yr
- as of 31 Aug 2026
- Fund size
- ₹132 crore
- as of 31 Jul 2026
- Exit load
- 0.25%
- SIP available
- Yes
- Launched
- 24 Aug 2020
- ISIN
- INF174V01AA0
₹100 invested, fund vs category
The category line is the average of the funds in this category, built from nyvo’s own NAV data.
Rebased to 100data to 5 Oct 2026Benchmark: NIFTY 50 Arbitrage Index
Mahindra Manulife Arbitrage Fund
₹133
+33% on ₹100 over 5.0 yrs
Arbitrage Fund average
₹133
+33% on ₹100 over 5.0 yrs
Returns vs category
| Window | Fund | Category avg | Gap |
|---|---|---|---|
| 3 months | 1.33% | 1.56% | -0.23 |
| 6 months | 2.93% | 3.26% | -0.33 |
| 1 year | 6.26% | 6.72% | -0.46 |
| 3 years (CAGR) | 6.42% | 7.27% | -0.85 |
| 5 years (CAGR) | 5.86% | 6.72% | -0.86 |
Category average across 33 funds, as of 5 Oct 2026. Short windows are noise; the 3 and 5-year rows are the record. Past returns do not predict future returns.
A single return number depends on its start date. These are ALL the overlapping holding periods, so the worst case is visible – read that number first.
1-year holding periods
- Worst
- 3.6%
- Median
- 6.3%
- Best
- 7.2%
49 windows over the last 60 months, stepped monthly; 100% ended positive. Worst window began 1 Dec 2021. Windows overlap – this is the range of past start dates, not a probability of anything.
3-year holding periods (per year)
- Worst
- 5.6%
- Median
- 6.5%
- Best
- 6.7%
25 windows over the last 60 months, stepped monthly; 100% ended positive. Worst window began 1 Oct 2021. Windows overlap – this is the range of past start dates, not a probability of anything.
Risk, measured
- Sharpe ratio (3Y)
- 0.25
- Sharpe ratio (5Y)
- -0.38
- Sortino ratio (3Y)
- 0.38 vs category 1.76
- Standard deviation (3Y)
- 0.44%
- Deepest fall (5Y)
- -0.07%
Where the money actually is
Equity
-0.1%
Bonds
10.8%
Cash
89.3%
Other
0.1%
Whole-portfolio split, as of 31 Jul 2026. Equity here is the NET position: this fund holds shares and sells futures against them, so the two largely cancel. The holdings below are gross, before that offset.
What it owns
55 positions · top 10 = 153.6%
Market-cap mix (equity sleeve)
Large 28.9%Mid 3.1%Other 68.0%
as of 31 Jul 2026
Holdings by sector
Financial Services(3 in top 10)34.7%
- ICICI Bank Ltd6.76%
- HDFC Bank Ltd6.07%
- Axis Bank Ltd4.88%
Basic Materials(1 in top 10)10.1%
- Hindalco Industries Ltd4.54%
- Communication Services7.5%
- Consumer Cyclical6.7%
- Utilities5.3%
- Energy2.7%
- Industrials1.6%
- Consumer Defensive1.1%
Sectors marked ▶ expand to show this fund’s top-10 holdings in that sector. Holdings as of 31 Jul 2026. Portfolio turnover 911.3% vs category 293.4% a year.
Other top holdings
- Net Receivables / (Payables)70.49%
- Future on BANK Indexderivative26.72%
- Mahindra Manu Low Duration Dir Gr12.96%
- Triparty Repo8.84%
- Mahindra Manu Liquid Dir Gr7.78%
- Future on Hindalco Industries Ltdderivative4.56%
Rows marked derivative are futures positions held against the shares listed beside them. A stock and its future largely cancel, so do not add the two together. Exposure figures are gross: funds that use derivatives (arbitrage, hedged books) hold offsetting positions, so concentration and turnover can read above 100%.
The debt it holds (debt sleeve)
- Yield to maturity
- 5.26% vs category 6.33%
- Modified duration
- 3 days vs category 0.45 yrs
- Average maturity
- 3 days vs category 0.53 yrs
- Average coupon
- 7.95%
- Government securities
- 2.7%
Portfolio characteristics as of 31 Jul 2026. Yield to maturity is what the portfolio would return if every holding were held to maturity and paid in full. It is not a forecast of the fund’s return, and it is quoted before expenses.
Money in, money out
- Net flow, 12 months
- +₹30 cr
- Net flow, 3 months
- +₹18 cr
as of 31 Jul 2026. Flows follow performance more than they predict it.
Quick answers
- What is the NAV of Mahindra Manulife Arbitrage Fund?
- ₹13.85 per unit as of 6 Oct 2026 (Direct plan, growth). NAV is declared daily on working days.
- What is the expense ratio of Mahindra Manulife Arbitrage Fund?
- 1.16% a year for the Direct plan, as of 31 Aug 2026.
- How large is Mahindra Manulife Arbitrage Fund?
- ₹132 crore under management as of 31 Jul 2026, in the Arbitrage Fund category.
- How risky is Mahindra Manulife Arbitrage Fund?
- Its SEBI Riskometer reading is "Low Risk". Cash-and-futures spreads. Debt-like behaviour, equity taxation.
- What are the 5-year returns of Mahindra Manulife Arbitrage Fund?
- 5.86% a year over the last 5 years (Direct plan, CAGR), against a Arbitrage Fund average of 6.72%. Past returns do not predict future returns.
- What is the worst 3-year return of Mahindra Manulife Arbitrage Fund?
- 5.6% a year – the weakest of 25 overlapping 3-year holding periods, beginning 1 Oct 2021. The median was 6.5% and 100% of those windows ended positive. Windows overlap, so this is the range of past start dates, not a probability.
- Who manages Mahindra Manulife Arbitrage Fund?
- Rahul Pal, managing this fund for 6 years.
Where this fund sits
Its shelf, all funds
Ar · Arbitrage →
Cash-and-futures spreads. Debt-like behaviour, equity taxation.
The money map
How big this shelf is in India →
The whole industry sized by real money, from AMFI’s monthly data.
Side by side
Compare this fund →
Put it next to any other fund – growth, returns, risk and cost in one table.
One bet or two?
Check its overlap →
See whether it owns the same stocks as your other funds.
Other Arbitrage Fund funds
Data: nyvo research systems; each block above states its own as-of date, and blocks with no data for this fund are omitted rather than estimated. NAV updates daily on working days. The benchmark (NIFTY 50 Arbitrage Index) is named for reference only; its values are licensed and never shown. This page is factual information about one scheme. It is not investment advice, not a recommendation, and it carries no rating of any kind. Past performance does not predict future returns. Mutual fund investments are subject to market risks; read all scheme related documents carefully.