Mahindra Manulife Arbitrage Fund
- NAV as on 24 Sep 2026
- ₹13.14-0.08%1 day
- Return since launch
- 4.6%
- 52-week range
- ₹12.46 — ₹13.16
- AUM
- ₹134 Cr
Mahindra Manulife Arbitrage Fund is a Arbitrage hybrid fund from Mahindra Manulife Mutual Fund with ₹134 Cr under management, launched in 2020. Over three years it has returned 5.4% a year, against 6.5% for its category. The expense ratio is 1.92% and the SEBI riskometer reading is Low.
Performance
Mahindra Manulife Arbitrage Fund NAV and returns
Growth of the fund against its category average over the period you pick.
Over 1Y this fund returned +5.5% against +6.0% for its category.
Performance
Returns
How the fund has done against its category and its benchmark.
| Period | Fund | vs category | Category | Benchmark |
|---|---|---|---|---|
| 1Y | 5.3% | −0.6 pts | 5.9% | 5.8% |
| 2Y | 5.3% | −0.6 pts | 5.9% | 6.0% |
| 3Y | 5.4% | −1.1 pts | 6.5% | 6.2% |
| 5Y | 5.4% | −0.5 pts | 5.9% | 6.3% |
| Period | Fund | vs category | Category | Benchmark |
|---|---|---|---|---|
| 1M | 0.3% | 0.0 pts | 0.3% | 0.3% |
| 3M | 1.2% | −0.1 pts | 1.3% | 1.3% |
| 6M | 2.5% | −0.2 pts | 2.7% | 2.8% |
| 1Y | 5.5% | −0.4 pts | 5.9% | 6.0% |
| 2Y | 5.3% | −0.8 pts | 6.1% | 6.2% |
| 3Y | 5.6% | −0.9 pts | 6.5% | 6.6% |
| 5Y | 5.0% | −0.9 pts | 5.9% | 6.0% |
Since launch (12 Aug 2020): 4.6%
Calendar-year returns
Category averageShow as a table
| Period | Fund | vs category | Category |
|---|---|---|---|
| 2025 | 5.4% | −1.5 pts | 6.9% |
| 2024 | 6.1% | −1.9 pts | 8.0% |
| 2023 | 5.8% | −1.8 pts | 7.6% |
| 2022 | 3.2% | −1.5 pts | 4.6% |
| 2021 | 2.8% | −1.3 pts | 4.1% |
Returns over one year are annualised. Shorter periods are absolute.
Costs & terms
Costs and terms
What the fund charges each year, and the rules around putting money in and taking it out.
Costs
1.93%
Expense ratio as on 23 Sep 2026
Charged yearly and already deducted from the NAV.
- Base expense
- 0.96%
- Brokerage
- 0.20%
- Transaction charges
- 0.00%
- Statutory levies
- 0.77%
- Exit load
- Exit load of 0.25%, if redeemed within 30 days.
- Lock-in
- None
Terms
- Min SIP
- ₹3,000
- Min lumpsum
- ₹5,000
- Plan
- GROWTH
- Fund type
- OPEN-ENDED
- Benchmark
- NIFTY 50 Arbitrage TRI
- Short-term capital gains
- Returns taxed at 20% if you redeem before 1 year
- Long-term capital gains
- After 1 year, returns above ₹1.25 lakh in a financial year are taxed at 12.5%
Risk
Risk
What the riskometer means for this fund, and how its ratios sit against the category.
Your principal is treated as being at low risk — typically overnight and very short duration debt schemes.
| Ratio | Fund | Category avg | Read as |
|---|---|---|---|
| Alpha | — | — | Return earned above what the benchmark alone would have given. Higher is better. |
| Beta | — | 0.62 | How hard the fund moves when the market moves. Under 1 is steadier than the market. |
| Sharpe | -0.37 | 1.88 | Return earned for each unit of total risk taken. Higher is better. |
| Sortino | -0.42 | 2.31 | Return earned for each unit of downside risk. Higher is better. |
| Std. deviation | 0.44 | 0.51 | How widely monthly returns have varied around their own average. Lower is steadier. |
| Average of 4 category peers | |||
Portfolio
Mahindra Manulife Arbitrage Fund portfolio
Portfolio as of 31 Aug 2026
Asset allocation
- Debt22.2%
- Other78.1%
Market cap split
- Large92.9%
- Mid7.1%
- P/E
- 18.75
- P/B
- 2.30
Top holdings
| Holding | Sector | Weight | Value | 3M chg | 6M chg | 1Y chg |
|---|---|---|---|---|---|---|
| Others | Others | 76.72% | ₹103 Cr | +0.24% | +209.49% | +214.71% |
| Mahindra Manulife Ultra Short to Short Term Fund Direct-Growth | Unclassified | 12.85% | ₹17.22 Cr | +13.93% | +17.06% | +20.50% |
| Mahindra Manulife Liquid Fund Direct -Growth | Unclassified | 10.71% | ₹14.35 Cr | +7.57% | +9.24% | +5.90% |
| HDFC Bank Ltd. | Financial | 3.02% | ₹4.05 Cr | -13.80% | -6.24% | — |
| The Indian Hotels Company Ltd. | Services | 0.17% | ₹0.22 Cr | -0.16% | — | — |
| Axis Bank Ltd. | Financial | 0.11% | ₹0.15 Cr | -8.60% | -11.40% | -11.76% |
| IDFC First Bank Ltd. | Financial | 0.04% | ₹0.05 Cr | -1.00% | — | — |
| Indus Towers Ltd. | Communication | 0.03% | ₹0.04 Cr | -10.02% | -6.36% | -4.12% |
| Asian Paints Ltd. | Materials | 0.02% | ₹0.03 Cr | — | — | — |
| Tata Steel Ltd. | Metals & Mining | 0.02% | ₹0.02 Cr | -7.12% | -9.14% | -5.38% |
| JIO Financial Services Ltd. | Financial | 0.02% | ₹0.02 Cr | -4.02% | -4.44% | — |
| Bajaj Finserv Ltd. | Financial | 0.01% | ₹0.01 Cr | -4.10% | — | -3.92% |
| company:3692 | Financial | 0.01% | ₹0.01 Cr | — | — | — |
| NTPC Ltd. | Energy | 0.00% | ₹0.01 Cr | — | — | -4.88% |
| company:2167 | Healthcare | 0.00% | ₹0.01 Cr | — | — | — |
| Indusind Bank Ltd. | Financial | 0.00% | ₹0.00 Cr | — | — | — |
| Canara Bank | Financial | 0.00% | ₹0.00 Cr | -5.02% | — | -2.14% |
| Maruti Suzuki India Ltd. | Automobile | 0.00% | ₹0.00 Cr | -7.34% | -1.98% | — |
| HDFC Life Insurance Co Ltd. | Insurance | -0.00% | ₹-0.00 Cr | — | — | — |
| JSW Steel Ltd. | Metals & Mining | -0.00% | ₹-0.00 Cr | -0.14% | — | — |
| Bharat Electronics Ltd. | Capital Goods | -0.00% | ₹-0.00 Cr | -1.86% | — | — |
| company:3977 | Consumer Discretionary | -0.00% | ₹-0.00 Cr | -7.00% | -9.18% | -7.66% |
| company:4456 | Metals & Mining | -0.00% | ₹-0.01 Cr | — | — | — |
| company:2119 | Construction | -0.00% | ₹-0.01 Cr | -2.02% | -2.62% | -10.68% |
| Ambuja Cements Ltd. | Materials | -0.01% | ₹-0.01 Cr | — | — | — |
| Hindustan Aeronautics Ltd. | Capital Goods | -0.01% | ₹-0.01 Cr | -1.62% | — | — |
| ICICI Bank Ltd. | Financial | -0.01% | ₹-0.01 Cr | -13.06% | -11.94% | — |
| Ultratech Cement Ltd. | Materials | -0.01% | ₹-0.02 Cr | — | -15.26% | -15.10% |
| ITC Ltd. | Consumer Staples | -0.04% | ₹-0.05 Cr | -2.52% | -0.52% | — |
| Tata Power Company Ltd. | Energy | -0.04% | ₹-0.06 Cr | -10.92% | -12.14% | -12.62% |
| Hindalco Industries Ltd. | Metals & Mining | -0.05% | ₹-0.07 Cr | -11.60% | -10.40% | -3.02% |
| Reliance Industries Ltd. | Energy | -0.05% | ₹-0.07 Cr | -6.04% | -7.90% | -13.32% |
| Kotak Mahindra Bank Ltd. | Financial | -0.06% | ₹-0.08 Cr | -4.62% | -3.08% | -6.90% |
| Bajaj Finance Ltd. | Financial | -0.07% | ₹-0.09 Cr | — | -12.76% | — |
| Bharti Airtel Ltd. | Communication | -0.12% | ₹-0.16 Cr | -4.20% | -3.50% | -6.98% |
| company:17623 | Services | -0.16% | ₹-0.22 Cr | — | — | — |
Sectors
Instruments
Recent changes
| Holding | From | To | Weight |
|---|---|---|---|
| HDFC Bank Ltd. | -6.10% | -2.65% | +3.45% |
| Mahindra Manulife Liquid Fund Direct -Growth | 7.78% | 10.71% | +2.93% |
| Mahindra & Mahindra Ltd. | -2.37% | 0.00% | +2.37% |
| company:2119 | 0.00% | -2.22% | -2.22% |
| Maruti Suzuki India Ltd. | -4.17% | -1.97% | +2.20% |
| Bajaj Finance Ltd. | -3.90% | -5.51% | -1.61% |
| company:4456 | 0.00% | -1.46% | -1.46% |
| Bajaj Finserv Ltd. | -2.13% | -0.85% | +1.28% |
| company:3692 | 0.00% | -0.88% | -0.88% |
| company:2167 | 0.00% | -0.48% | -0.48% |
| Tata Power Company Ltd. | -4.52% | -4.10% | +0.42% |
| The Indian Hotels Company Ltd. | -0.17% | 0.17% | +0.34% |
| company:3977 | 0.00% | -0.27% | -0.27% |
| Kotak Mahindra Bank Ltd. | -3.14% | -3.38% | -0.24% |
| HDFC Life Insurance Co Ltd. | -0.05% | -0.22% | -0.17% |
| JIO Financial Services Ltd. | -1.97% | -1.80% | +0.17% |
| company:17623 | 0.00% | -0.16% | -0.16% |
| Hindalco Industries Ltd. | -4.56% | -4.72% | -0.16% |
| Tata Steel Ltd. | -3.01% | -2.86% | +0.15% |
| Indus Towers Ltd. | -4.10% | -3.96% | +0.14% |
| Mahindra Manulife Ultra Short to Short Term Fund Direct-Growth | 12.96% | 12.85% | -0.11% |
| Bharti Airtel Ltd. | -3.48% | -3.59% | -0.11% |
| Asian Paints Ltd. | -0.78% | -0.87% | -0.09% |
| ITC Ltd. | -1.14% | -1.06% | +0.08% |
| Axis Bank Ltd. | -4.90% | -4.98% | -0.08% |
| NTPC Ltd. | -0.79% | -0.73% | +0.06% |
| Reliance Industries Ltd. | -2.73% | -2.67% | +0.06% |
| Ultratech Cement Ltd. | -1.13% | -1.08% | +0.05% |
| Ambuja Cements Ltd. | -0.63% | -0.58% | +0.05% |
| IDFC First Bank Ltd. | -2.80% | -2.76% | +0.04% |
| Bharat Electronics Ltd. | -0.80% | -0.84% | -0.04% |
| Others | 0.08% | 0.04% | -0.04% |
| ICICI Bank Ltd. | -6.74% | -6.77% | -0.03% |
| Hindustan Aeronautics Ltd. | -0.79% | -0.81% | -0.02% |
| Indusind Bank Ltd. | -0.11% | -0.10% | +0.01% |
| JSW Steel Ltd. | -0.07% | -0.07% | 0.00% |
| Canara Bank | -2.94% | -2.94% | 0.00% |
Compare
Similar funds
The rest of the category, so this fund’s numbers have something to sit against.
| Fund | AUM | Expense | 1Y | 3Y | 5Y |
|---|---|---|---|---|---|
| Category average | ₹41,186 Cr | 2.40% | 6.0% | 6.4% | 6.6% |
 Kotak Arbitrage Fund | ₹75,712 Cr | 2.92% | 6.0% | 6.4% | 6.6% |
 SBI Arbitrage Fund | ₹47,283 Cr | 1.98% | 5.8% | 6.3% | 6.5% |
 Invesco India Arbitrage Fund | ₹30,618 Cr | 2.91% | 6.0% | 6.4% | 6.6% |
 UTI Arbitrage Fund | ₹11,132 Cr | 1.80% | 5.9% | 6.4% | 6.5% |
About
About this fund
The scheme’s own words, its benchmark and the people running it.
Investment objective
The scheme seeks to generate income by predominantly investing in arbitrage opportunities in the cash and derivatives segment of the equity market and the arbitrage opportunities available within the derivative segment and by investing the balance in debt and money market instruments.
Fund managers
- Navin MattaPGDBAPrior to Joining the Mahindra Manulife Investment Management Pvt Ltd. He has worked with BOB Capita, SAFE Enterprises,Bajaj Allianz Life Insurance, HDFC Securities and Daiwa Capital.
- Rahul PalMr. Pal is a B.Com (H) and Chartered Accountant.Prior to joining Mahindra Manulife Mutual Fund, he has worked with Taurus AMC, Sundaram Mutual Fund and IDBI Mutual Fund.
Tools
Return calculator
What ₹10,000 a month in this fund would have grown to over each period, based on its past returns.
| Over the past | Total investment | Would’ve become | Growth | Returns |
|---|---|---|---|---|
| 6 months2.47% absolute | ₹60,000 | ₹61,482 | 2.47% | |
| 1 year5.51% annualised | ₹1,20,000 | ₹1,23,642 | 3.04% | |
| 3 years5.62% annualised | ₹3,60,000 | ₹3,92,965 | 9.16% | |
| 5 years4.98% annualised | ₹6,00,000 | ₹6,82,535 | 13.76% |
Returns for 1 year and longer are annualised (CAGR); 6-month figures are absolute. Past returns are not a forecast.
How this is calculated
Each monthly instalment grows at the fund’s annualised return ÷ 12 per month until the end of the period, the same formula as our SIP calculator.
The amount compounds once a year at the fund’s CAGR for that period, the same formula as our lumpsum calculator.
Questions
Frequently asked questions
The things people ask about this scheme.