JM Arbitrage Fund - Direct Plan - Growth

NAVs of 8 Nov 2026

JM Financial Mutual Fund · Hybrid fund · Direct plan · Growth

ArbitrageDirect · GrowthRisk: Low

NAV · 6 Nov 2026

₹37.7964 ▲ 0.14%

JM Financial Mutual Fund

Fund size₹420 crJuly - September 2026

1-month range₹37.55 – 37.80

1 year+6.53%rank 22 of 28

Expense ratio1.46%direct plan, a year

5 years+6.49%a year

What the fund does

The investment objective of the Scheme is to generate income through arbitrage opportunities emerging out of mispricing between the cash market and the derivatives market and through deployment of surplus cash in fixed income instruments.There can be no assurance that the investment objective of the scheme will be realized. The scheme does not guarantee/ indicate any returns. Investors are required to read all the scheme related information set out in this document carefully

BenchmarkNifty 50 Arbitrage Index

Launched18 Jul 2006

Fund houseJM Financial Mutual Fund

Fund managersAsit Bhandarkarsince 18 Jul 2014Satish Ramanathansince 1 Oct 2024Deepak Guptasince 11 Apr 2025Ruchi Fozdarsince 4 Oct 2024

NAV history

Returns

1 week

+0.23%avg 0.2%

1 month

+0.56%avg 0.5%

3 months

+1.62%avg 1.6%

6 months

+3.21%avg 3.2%

This year

+5.45%avg 5.6%

1 year

+6.53%avg 6.7% · #22/28

3 years (a year)

+7.01%avg 7.2% · #17/21

5 years (a year)

+6.49%avg 6.7% · #14/16

Bars: this plan; the thin mark is the Arbitrage average (direct plans, growth option). Over a year: yearly averages (CAGR). Past returns do not guarantee future returns. Information only, not investment advice.

Monthly returns (%)

Year	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec
2024												+0.6
2025	+0.7	+0.5	+0.6	+0.7	+0.4	+0.5	+0.5	+0.5	+0.4	+0.5	+0.6	+0.6
2026	+0.6	+0.4	+0.6	+0.3	+0.1	+0.8	+0.6	+0.4	+0.6	+0.5	+0.2

Each month's change in NAV (the current month to the latest NAV).

What if you had invested?

Amount (₹) Started

Worked out from this plan's actual NAVs. SIP: invested on the first NAV of each month. Taxes and exit loads are not included. Past returns do not guarantee future returns. Information only, not investment advice.

Portfolio as on 30 Sept 2026

Stocks held107115 lines in all

Top 10 stocks30.6%of the fund

Equity77.1%stocks and equity derivatives

Debt & cash22.9%everything else

Where the money is

Equity 77.1%Money market 7.3%Cash & others 15.6%

Sectors (stocks held)

Banks

23.7%

Finance

6.3%

Telecom - Services

6.2%

Ferrous Metals

5.1%

Petroleum Products

4.4%

Automobiles

4.1%

Pharmaceuticals & Biotechnology

3.4%

Power

2.6%

Changes since 31 Aug 2026

Share of fund	30 Sept 2026	31 Aug 2026	Change
Stocks held	77.1%	80.5%	-3.39
Debt	0.0%	5.1%	-5.14
Money market	7.3%	7.2%	+0.11
Cash & others	15.6%	7.2%	+8.41
Top 10 stocks	30.6%	28.8%	+1.76
Number of stocks	107	119	-12

New stocks 1

Eternal Limited0.07%

Stocks sold off 13

Max Financial Services Limitedwas 0.67%
Tata Consultancy Services Limitedwas 0.39%
Muthoot Finance Limitedwas 0.24%
Tata Motors Passenger Vehicles Limitedwas 0.22%
Patanjali Foods Limitedwas 0.21%
Colgate Palmolive (India) Limitedwas 0.19%
Hero MotoCorp Limitedwas 0.19%
CG Power And Industrial Solutions Ltdwas 0.13%
ICICI Prudential Life Insurance Companywas 0.10%
UNO Minda Limitedwas 0.06%
Vishal Mega Mart Limitedwas 0.06%
GAIL (India) Limitedwas 0.04%
Rail Vikas Nigam Limitedwas 0.03%

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Bought more 17

ICICI Bank Limited+1.16
Reliance Industries Limited+0.99
Axis Bank Limited+0.95
Bandhan Bank Limited+0.76
Vodafone Idea Limited+0.68
State Bank of India+0.59
Adani Enterprises Limited+0.59
Varun Beverages Limited+0.57
Tata Steel Limited+0.54
Indus Towers Limited+0.52
Bank of Baroda+0.43
Power Finance Corporation Limited+0.38
Steel Authority of India Limited+0.28
LIC Housing Finance Limited+0.27
The Indian Hotels Company Limited+0.27
Adani Energy Solutions Limited+0.26
Life Insurance Corporation Of India+0.26

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Cut back 21

HDFC Bank Limited-2.95
Bharti Airtel Limited-1.74
Larsen & Toubro Limited-1.05
Kotak Mahindra Bank Limited-0.71
Adani Port & Special Economic Zone Ltd-0.57
Punjab National Bank-0.49
JSW Steel Limited-0.45
Hindustan Unilever Limited-0.41
Mahindra & Mahindra Limited-0.40
AU Small Finance Bank Limited-0.38
Sun Pharmaceutical Industries Limited-0.37
Shriram Finance Limited-0.37
DLF Limited-0.37
Bajaj Finance Limited-0.36
Grasim Industries Limited-0.36
Hindalco Industries Limited-0.32
Cipla Limited-0.31
Hindustan Aeronautics Limited-0.30
Ashok Leyland Limited-0.29
Coal India Limited-0.29
Eicher Motors Limited-0.28

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Change is in percentage points. Bought more and cut back list stocks whose share of the fund moved by at least 0.25 points. A share can also move because the price changed, not only because the fund traded.

Stocks held 107

Holding	Sector / type	% of fund
ICICI Bank Limited INE090A01021	Banks	4.54%
Reliance Industries Limited INE002A01018	Petroleum Products	4.13%
Axis Bank Limited INE238A01034	Banks	3.89%
Vodafone Idea Limited INE669E01016	Telecom - Services	3.40%
Tata Steel Limited INE081A01020	Ferrous Metals	3.27%
Kotak Mahindra Bank Limited INE237A01036	Banks	2.94%
State Bank of India INE062A01020	Banks	2.60%
Indus Towers Limited INE121J01017	Telecom - Services	1.97%
Adani Enterprises Limited INE423A01024	Metals & Minerals Trading	1.92%
Bandhan Bank Limited INE545U01014	Banks	1.90%
Eicher Motors Limited INE066A01021	Automobiles	1.76%
Bharat Heavy Electricals Limited INE257A01026	Electrical Equipment	1.76%
IDFC First Bank Limited INE092T01019	Banks	1.73%
Varun Beverages Limited INE200M01039	Beverages	1.65%
Yes Bank Ltd INE528G01035	Banks	1.55%
Power Finance Corporation Limited INE134E01011	Finance	1.39%
NMDC Limited INE584A01023	Minerals & Mining	1.37%
Bajaj Finance Limited INE296A01032	Finance	1.33%
Bank of Baroda INE028A01039	Banks	1.29%
Maruti Suzuki India Limited INE585B01010	Automobiles	1.28%
Steel Authority of India Limited INE114A01011	Ferrous Metals	1.18%
Crompton Greaves Consumer Electrical Ltd INE299U01018	Consumer Durables	1.12%
Adani Energy Solutions Limited INE931S01010	Power	1.09%
Asian Paints Limited INE021A01026	Consumer Durables	1.09%
Life Insurance Corporation Of India INE0J1Y01017	Insurance	1.02%
Godrej Properties Limited INE484J01027	Realty	0.98%
Adani Port & Special Economic Zone Ltd INE742F01042	Transport Infrastructure	0.95%
LIC Housing Finance Limited INE115A01026	Finance	0.95%
The Indian Hotels Company Limited INE053A01029	Leisure Services	0.94%
NBCC (India) Limited INE095N01031	Construction	0.93%
Canara Bank INE476A01022	Banks	0.88%
Jio Financial Services Limited INE758E01017	Finance	0.87%
Bharti Airtel Limited INE397D01024	Telecom - Services	0.81%
Bajaj Finserv Limited INE918I01026	Finance	0.81%
Mahindra & Mahindra Limited INE101A01026	Automobiles	0.80%
The Federal Bank Limited INE171A01029	Banks	0.79%
ITC Limited INE154A01025	Diversified FMCG	0.79%
Larsen & Toubro Limited INE018A01030	Construction	0.77%
Adani Power Limited INE814H01029	Power	0.77%
HDFC Bank Limited INE040A01034	Banks	0.70%
JSW Steel Limited INE019A01038	Ferrous Metals	0.67%
Sun Pharmaceutical Industries Limited INE044A01036	Pharmaceuticals & Biotechnology	0.63%
Hitachi Energy India Limited INE07Y701011	Electrical Equipment	0.63%
Manappuram Finance Limited INE522D01027	Finance	0.56%
InterGlobe Aviation Limited INE646L01027	Transport Services	0.55%
Biocon Limited INE376G01013	Pharmaceuticals & Biotechnology	0.54%
United Spirits Limited INE854D01024	Beverages	0.48%
Ambuja Cements Limited INE079A01024	Cement & Cement Products	0.47%
Lupin Limited INE326A01037	Pharmaceuticals & Biotechnology	0.46%
RBL Bank Limited INE976G01028	Banks	0.41%
Glenmark Pharmaceuticals Limited INE935A01035	Pharmaceuticals & Biotechnology	0.41%
Divi's Laboratories Limited INE361B01024	Pharmaceuticals & Biotechnology	0.41%
Hindustan Unilever Limited INE030A01027	Diversified FMCG	0.38%
Indian Energy Exchange Limited INE022Q01020	Capital Markets	0.34%
Aurobindo Pharma Limited INE406A01037	Pharmaceuticals & Biotechnology	0.32%
Info Edge (India) Limited INE663F01032	Retailing	0.32%
Mankind Pharma Limited INE634S01028	Pharmaceuticals & Biotechnology	0.31%
Tata Consumer Products Limited INE192A01025	Agricultural Food & other Products	0.31%
HDFC Asset Management Company Limited INE127D01025	Capital Markets	0.28%
Ashok Leyland Limited INE208A01029	Agricultural, Commercial & Construction Vehicles	0.27%
NTPC Limited INE733E01010	Power	0.27%
Punjab National Bank INE160A01022	Banks	0.27%
Shriram Finance Limited INE721A01047	Finance	0.24%
UPL Limited INE628A01036	Fertilizers & Agrochemicals	0.24%
TVS Motor Company Limited INE494B01023	Automobiles	0.23%
JSW Energy Limited INE121E01018	Power	0.20%
Grasim Industries Limited INE047A01021	Cement & Cement Products	0.20%
HDFC Life Insurance Company Limited INE795G01014	Insurance	0.19%
Adani Green Energy Limited INE364U01010	Power	0.18%
APL Apollo Tubes Limited INE702C01027	Industrial Products	0.18%
Bharat Petroleum Corporation Limited INE029A01011	Petroleum Products	0.14%
Cummins India Limited INE298A01020	Industrial Products	0.14%
PNB Housing Finance Limited INE572E01012	Finance	0.13%
Torrent Pharmaceuticals Limited INE685A01028	Pharmaceuticals & Biotechnology	0.12%
Alkem Laboratories Limited INE540L01014	Pharmaceuticals & Biotechnology	0.11%
The Tata Power Company Limited INE245A01021	Power	0.11%
Hindustan Aeronautics Limited INE066F01020	Aerospace & Defense	0.10%
Bharat Electronics Limited INE263A01024	Aerospace & Defense	0.10%
Hindalco Industries Limited INE038A01020	Non - Ferrous Metals	0.10%
Hindustan Petroleum Corporation Limited INE094A01015	Petroleum Products	0.08%
Eternal Limited INE758T01015	Retailing	0.07%
Union Bank of India INE692A01016	Banks	0.07%
KALYAN JEWELLERS INDIA LIMITED INE303R01014	Consumer Durables	0.07%
Cholamandalam Invest & Finance Co Ltd INE121A01024	Finance	0.06%
GMR Airports Limited INE776C01039	Transport Infrastructure	0.06%
Indian Oil Corporation Limited INE242A01010	Petroleum Products	0.06%
Bharat Forge Limited INE465A01025	Auto Components	0.06%
SBI Life Insurance Company Limited INE123W01016	Insurance	0.06%
IndusInd Bank Limited INE095A01012	Banks	0.06%
Cipla Limited INE059A01026	Pharmaceuticals & Biotechnology	0.05%
UltraTech Cement Limited INE481G01011	Cement & Cement Products	0.05%
GE Vernova T&D India Limited INE200A01026	Electrical Equipment	0.05%
TUBE INVESTMENTS OF INDIA LTD INE974X01010	Auto Components	0.04%
Hindustan Zinc Limited INE267A01025	Non - Ferrous Metals	0.04%
Prestige Estates Projects Limited INE811K01011	Realty	0.04%
DLF Limited INE271C01023	Realty	0.04%
Container Corporation of India Limited INE111A01025	Transport Services	0.03%
Computer Age Management Services Limited INE596I01020	Capital Markets	0.03%
ICICI Lombard General Insurance Company INE765G01017	Insurance	0.03%
Apollo Hospitals Enterprise Limited INE437A01024	Healthcare Services	0.03%
AU Small Finance Bank Limited INE949L01017	Banks	0.03%
Dabur India Limited INE016A01026	Personal Products	0.03%
Inox Wind Limited INE066P01011	Electrical Equipment	0.03%
Bank of India INE084A01016	Banks	0.02%
Fortis Healthcare Limited INE061F01013	Healthcare Services	0.02%
Coal India Limited INE522F01014	Consumable Fuels	0.02%
Suzlon Energy Limited INE040H01021	Electrical Equipment	0.01%

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Debt, money market and cash 8

Holding	Sector / type	% of fund
JM Financial Mutual Fund INF192K01CM6	–	7.82%
The Clearing Corporation of India Ltd. 01-OCT-2026	–	7.36%
364 Days Treasury Bill 06-Nov-2026 IN002025Z328	SOVEREIGN	1.46%
182 Days Treasury Bill 19-Nov-2026 IN002026Y071	SOVEREIGN	1.46%
364 Days Treasury Bill 03-Dec-2026 IN002025Z369	SOVEREIGN	1.45%
364 Days Treasury Bill 15-JAN-2027 IN002025Z419	SOVEREIGN	1.44%
182 Days Treasury Bill 21-Jan-2027 IN002026Y162	SOVEREIGN	1.44%
Net Receivable/Payable	–	0.43%

From the fund house's monthly portfolio (jmfinancialmf.com), as on 30 Sept 2026. Percentages are of the fund's net assets. Published about ten days after each month ends.

Risk

Volatility1.5%yearly, from daily NAVs

Worst fall-0.51%3 Aug 2026 → 6 Aug 2026

RiskometerLowLow

Volatility: how much the NAV moves, as a yearly figure (higher = bumpier). Worst fall: the biggest drop from a high, in the NAV history we hold (from 31 May 2016).

Fund details

Fund size (average AUM, July - September 2026)	₹420 cr across all plans · this plan ₹348 cr
Fund house	JM Financial Mutual Fund
Category	Hybrid · Arbitrage
Plan	Direct
Option	Growth
Expense ratio (TER)	Direct 1.46% · Regular 2.11% (6 Nov 2026)
Exit load	0.5% of NAV on all investment (including SIP/STP/SWP) transactions, if redeemed / switched - out within 30 days of transfer / allotment of units in normal transactions / allotment of units of respective installments in SIP/STP/SWP transactions.
Minimum investment	₹1,000 · additional ₹100
Scheme code (AMFI)	120482
ISIN	INF192K01BN6
NAV date	6 Nov 2026

Scheme details from the fund's scheme summary document filed with AMFI; expense ratios from AMFI's daily filings.

Other plans of this fund

Plan	NAV	1 year
Direct · IDCW	₹17.8110	+6.53%
Direct · IDCW	₹20.2264	+6.53%
Direct · IDCW	₹19.4136	+6.53%
Direct · IDCW	₹17.4831	+6.55%
Direct · IDCW	₹15.2626	+6.53%
Direct · IDCW	₹17.1997	+6.53%
Direct · IDCW	₹17.9604	+6.53%
Regular · Growth	₹35.1222	+5.83%
Regular · IDCW	₹16.3015	+5.83%
Regular · IDCW	₹19.0941	+5.83%
Regular · IDCW	₹15.5170	+5.83%
Regular · IDCW	₹13.8087	+5.83%
Regular · IDCW	₹15.8612	+5.83%
Regular · IDCW	₹15.6298	+5.83%

Top Arbitrage funds (direct plans)

Fund	1 year	3 years (a year)
Invesco India Arbitrage Fund	+6.91%	+7.48%
Kotak Arbitrage Fund	+6.80%	+7.46%
ADITYA BIRLA SUN LIFE ARBITRAGE FUND	+6.78%	+7.43%
Edelweiss Arbitrage Fund	+6.70%	+7.40%
UTI - Arbitrage Fund	+6.63%	+7.32%
Nippon India Arbitrage Fund	+6.76%	+7.31%
ICICI Prudential Arbitrage Fund	+6.68%	+7.31%
BANDHAN Arbitrage Fund	+6.52%	+7.30%
JM Arbitrage Fund	+6.53%	+7.01%

All Arbitrage funds ranked › · Compare with others ›

← All mutual funds

Information only, not investment advice.

What is the NAV of JM Arbitrage Fund - Direct Plan - Growth today?

₹37.7964 as of 6 Nov 2026, from AMFI's official NAV data.

What are the returns of JM Arbitrage Fund - Direct Plan - Growth?

1 year: 6.53%, 3 years: 7.01% a year, 5 years: 6.49% a year

How does JM Arbitrage Fund rank in its category?

22 of 28 Arbitrage funds (direct plans, growth option) by 1-year return.

What is the difference between direct and regular plans?

Both invest in the same portfolio. Direct plans are bought straight from the fund house and pay no distributor commission, so their expenses are lower and their NAV grows slightly faster.