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NJ Arbitrage Fund

NJ Mutual FundDirectOpen-endedArbitrage FundRiskometer: Low Risk

NAV

₹13.21

as of 6 Oct 2026

NJ Arbitrage Fund is an open-ended Arbitrage Fund scheme from NJ Mutual Fund managing ₹278 crore (as of 31 Jul 2026). Its Direct-plan NAV is ₹13.21 as of 6 Oct 2026. The expense ratio is 1.02% a year. Managed by Dhaval Patel. This page is factual data only – it carries no rating and no recommendation.

Key facts

Expense ratio
1.02% / yr
as of 31 Aug 2026
Fund size
₹278 crore
as of 31 Jul 2026
Exit load
None
SIP available
Yes
Launched
1 Aug 2022
ISIN
INF0J8L01065

₹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

Aug 2022Oct 2026
Growth of ₹100, NJ Arbitrage Fund versus Arbitrage Fund average.

NJ Arbitrage Fund

₹132

+32% on ₹100 over 4.2 yrs

Arbitrage Fund average

₹129

+29% on ₹100 over 4.2 yrs

Returns vs category

WindowFundCategory avgGap
3 months1.38%1.56%-0.18
6 months2.94%3.26%-0.32
1 year6.31%6.72%-0.41
3 years (CAGR)6.79%7.27%-0.48

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.

Risk, measured

Sharpe ratio (3Y)
0.51
Sortino ratio (3Y)
0.71 vs category 1.76
Standard deviation (3Y)
0.66%

Where the money actually is

Equity

-0.3%

Bonds

5.0%

Cash

95.3%

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

139 positions · top 10 = 73.6%

Market-cap mix (equity sleeve)

Large 20.5%Mid 4.0%Small 0.4%Other 75.1%

as of 31 Jul 2026

Holdings by sector

  • Financial Services(1 in top 10)26.4%
    • Kotak Mahindra Bank Ltd6.32%
  • Communication Services(2 in top 10)12.7%
    • Bharti Airtel Ltd7.28%
    • Vodafone Idea Ltd5.15%
  • Energy(1 in top 10)10.6%
    • Reliance Industries Ltd6.97%
  • Consumer Cyclical8.2%
  • Basic Materials7.3%
  • Healthcare6.7%
  • Utilities3.4%
  • Consumer Defensive2.7%

Sectors marked ▶ expand to show this fund’s top-10 holdings in that sector. Holdings as of 31 Jul 2026. Portfolio turnover 109.4% vs category 293.4% a year.

Other top holdings

  • Future on BANK Indexderivative18.52%
  • Future on Bharti Airtel Ltdderivative7.30%
  • Future on Reliance Industries Ltdderivative6.51%
  • Clearing Corporation Of India Ltd5.99%
  • Future on Vodafone Idea Ltdderivative5.18%
  • Future on Mahindra & Mahindra Ltdderivative4.36%

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
5.30% vs category 6.33%
Modified duration
70 days vs category 0.45 yrs
Average maturity
72 days vs category 0.53 yrs
Government securities
8.0%

Credit quality

AAA
100.0%

Government securities are counted inside AAA by the data provider’s ladder; the sovereign share is listed separately above. Credit quality as of 31 Jul 2026.

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
−₹6 cr
Net flow, 3 months
+₹10 cr

as of 31 Jul 2026. Flows follow performance more than they predict it.

Quick answers

What is the NAV of NJ Arbitrage Fund?
₹13.21 per unit as of 6 Oct 2026 (Direct plan, growth). NAV is declared daily on working days.
What is the expense ratio of NJ Arbitrage Fund?
1.02% a year for the Direct plan, as of 31 Aug 2026.
How large is NJ Arbitrage Fund?
₹278 crore under management as of 31 Jul 2026, in the Arbitrage Fund category.
How risky is NJ Arbitrage Fund?
Its SEBI Riskometer reading is "Low Risk". Cash-and-futures spreads. Debt-like behaviour, equity taxation.
What is the worst 3-year return of NJ Arbitrage Fund?
6.8% a year – the weakest of 15 overlapping 3-year holding periods, beginning 3 Oct 2023. The median was 7.1% and 100% of those windows ended positive. Windows overlap, so this is the range of past start dates, not a probability.
Who manages NJ Arbitrage Fund?
Dhaval Patel, managing this fund for 3.5 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.