Franklin India Arbitrage Fund
As on April 30, 2025
Franklin India Arbitrage Fund
As on April 30, 2025
TYPE OF SCHEME

An open-ended scheme investing in arbitrage opportunities
SCHEME CATEGORY

Arbitrage Fund
SCHEME CHARACTERISTICS

Equity related securities including derivative instruments 65%, Debt & Money Market Instruments 35%
INVESTMENT OBJECTIVE

The investment objective of the scheme is to generate capital appreciation and income by predominantly investing in arbitrage opportunities in the cash and derivative segments of the equity markets and the arbitrage opportunities available within the derivative segment and by investing the balance in debt and money market instruments.
DATE OF ALLOTMENT:

November 19, 2024
FUND MANAGER(S):

Yogik Pitti, Rajasa Kakulavarapu, Pallab Roy
& Rohan Maru (w.e.f. December 3, 2024)

BENCHMARK:

Nifty 50 Arbitrage Index
TURNOVER

Total Portfolio Turnover$
758.52%
Portfolio Turnover (Equity)**
1045.42%
$ Includes fixed income securities and equity derivatives
** Computed for equity portion of the portfolio including equity derivatives
MATURITY & YIELD$

RESIDUAL MATURITY / AVERAGE MATURITY0.77 years
ANNUALISED PORTFOLIO YTM#6.53%
MODIFIED DURATION0.70 years
MACAULAY DURATION0.75 years
#Yields of all securities are in annualised terms
EXPENSE RATIO#: 0.98%
EXPENSE RATIO# (DIRECT) : 0.29%
# The above ratio includes the GST on Investment Management Fees. The rates specified are the actual expenses charged as at the end of the month. The above ratio also includes, proportionate charge in respect sales beyond T-30 cities subject to maximum of 30 bps on daily net assets, wherever applicable.

MINIMUM INVESTMENT/
MULTIPLES FOR NEW INVESTORS:

Rs 5000/1
MINIMUM INVESTMENT FOR SIP

Rs 500/1
ADDITIONAL INVESTMENT/
MULTIPLES FOR EXISTING INVESTORS:

Rs1000/1
LOAD STRUCTURE:

Plan A
Entry Load : Nil
Exit Load (for each purchase of Units) : Nil (For 10% of the units purchased on or before 1 Month from the date of allotment)
Upto 1 Month - 0.25%
Nil - If redeemed after 30 days from the date of allotment (w.e.f. January 06, 2025)
Different plans have a different expense structure
Sales suspended in Plan B - All Options
NAV AS OF APRIL 30, 2025

Growth Plan Rs 10.3041
IDCW Plan Rs 10.3041
Direct - Growth Plan Rs 10.3370
Direct - IDCW Plan Rs 10.3370
FUND SIZE (AUM)

Month EndRs 236.21 Crores
Monthly AverageRs 213.07 Crores
Outstanding exposure in derivative instrumentsRs 163.34 Crores
Outstanding derivative exposure69.15%

Company NameNo. of sharesMarket Value
Rs Lakhs
% of Assets Outstanding derivative exposure as % to net assets Long / (Short )
Aerospace & Defense
Bharat Electronics Ltd 25,650 80.57 0.34 -0.34
Hindustan Aeronautics Ltd 1,650 74.05 0.31 -0.31
Agricultural Food & Other Products
Tata Consumer Products Ltd 45,600 531.60 2.25 -2.25
Patanjali Foods Ltd 7,200 137.23 0.58 -0.58
Marico Ltd 4,800 34.10 0.14 -0.14
Agricultural, Commercial & Construction Vehicles
Escorts Kubota Ltd 150 4.89 0.02 -0.02
Auto Components
Samvardhana Motherson International Ltd 1,24,250 165.59 0.70 -0.70
Bosch Ltd 100 29.46 0.12 -0.13
Tube Investments of India Ltd 600 17.39 0.07 -0.07
MRF Ltd 10 13.45 0.06 -0.06
Automobiles
Hero MotoCorp Ltd 900 34.45 0.15 -0.15
Mahindra & Mahindra Ltd 875 25.63 0.11 -0.11
Tata Motors Ltd 550 3.54 0.02 -0.02
Banks
HDFC Bank Ltd* 53,350 1,026.99 4.35 -4.38
IDFC First Bank Ltd* 12,30,000 798.15 3.38 -3.39
RBL Bank Ltd 3,05,000 611.13 2.59 -2.60
ICICI Bank Ltd 39,900 569.37 2.41 -2.42
Yes Bank Ltd 17,94,000 317.90 1.35 -1.35
Axis Bank Ltd 16,250 192.56 0.82 -0.82
Punjab National Bank 1,20,000 120.25 0.51 -0.51
Kotak Mahindra Bank Ltd 2,800 61.83 0.26 -0.26
Bandhan Bank Ltd 25,200 41.74 0.18 -0.18
Bank of India 19,300 22.22 0.09 -0.09
Beverages
Varun Beverages Ltd 30,625 159.97 0.68 -0.68
United Spirits Ltd 9,800 153.26 0.65 -0.65
Capital Markets
Multi Commodity Exchange Of India Ltd 4,000 245.12 1.04 -1.04
HDFC Asset Management Company Ltd 2,100 91.86 0.39 -0.39
Cement & Cement Products
Ultratech Cement Ltd 900 104.77 0.44 -0.45
Chemicals & Petrochemicals
Pidilite Industries Ltd 10,500 318.56 1.35 -1.35
Construction
IRB Infrastructure Developers Ltd 10,250 4.67 0.02 -0.02
Consumer Durables
Titan Co Ltd 10,850 366.70 1.55 -1.56
Crompton Greaves Consumer Electricals Ltd 32,400 109.29 0.46 -0.46
Diversified Fmcg
ITC Ltd 94,400 401.96 1.70 -1.70
Hindustan Unilever Ltd 4,800 112.42 0.48 -0.48
Electrical Equipment
ABB India Ltd 8,250 455.61 1.93 -1.92
Ferrous Metals
Steel Authority of India Ltd 1,48,000 168.29 0.71 -0.71
JSW Steel Ltd 4,725 48.66 0.21 -0.21
Finance
Jio Financial Services Ltd 95,700 249.22 1.06 -1.06
REC Ltd 56,000 235.26 1.00 -1.00
Manappuram Finance Ltd 99,000 228.54 0.97 -0.97
Aditya Birla Capital Ltd 1,08,000 212.07 0.90 -0.90
Piramal Enterprises Ltd 9,000 87.12 0.37 -0.37
LIC Housing Finance Ltd 2,000 12.02 0.05 -0.05
Food Products
Nestle India Ltd 400 9.55 0.04 -0.04
Gas
Mahanagar Gas Ltd 10,000 134.61 0.57 -0.57
GAIL (India) Ltd 23,500 44.44 0.19 -0.19
Petronet LNG Ltd 12,000 37.65 0.16 -0.16
Healthcare Services
Apollo Hospitals Enterprise Ltd 6,875 479.67 2.03 -2.04
Syngene International Ltd 4,000 25.36 0.11 -0.11
Max Healthcare Institute Ltd 1,050 11.53 0.05 -0.05
Industrial Products
Astral Ltd 367 4.94 0.02 -0.02
Insurance
SBI Life Insurance Co Ltd 15,750 278.11 1.18 -1.18
ICICI Lombard General Insurance Co Ltd 1,250 23.46 0.10 -0.10
IT - Software
Infosys Ltd 26,400 396.03 1.68 -1.68
Coforge Ltd 4,725 345.16 1.46 -1.46
Mphasis Ltd 8,800 217.27 0.92 -0.92
Birlasoft Ltd 51,000 199.00 0.84 -0.85
Tata Consultancy Services Ltd 4,200 145.06 0.61 -0.61
Tech Mahindra Ltd 4,200 63.13 0.27 -0.27
Persistent Systems Ltd 200 10.64 0.05 -0.05
Leisure Services
Indian Railway Catering And Tourism Corp Ltd 10,500 78.91 0.33 -0.34
Jubilant Foodworks Ltd 5,000 35.77 0.15 -0.15
Minerals & Mining
NMDC Ltd 5,40,000 349.87 1.48 -1.48
Non - Ferrous Metals
Hindalco Industries Ltd 1,400 8.75 0.04 -0.04
Oil
Oil & Natural Gas Corporation Ltd 5,775 14.12 0.06 -0.06
Oil India Ltd 2,150 8.83 0.04 -0.04
Personal Products
Godrej Consumer Products Ltd 4,500 56.72 0.24 -0.24
Petroleum Products
Reliance Industries Ltd* 44,500 625.23 2.65 -2.66
Hindustan Petroleum Corporation Ltd 68,850 260.73 1.10 -1.11
Pharmaceuticals & Biotechnology
Divi's Laboratories Ltd 1,800 109.57 0.46 -0.47
Laurus Labs Ltd 5,100 30.80 0.13 -0.13
Granules India Ltd 6,000 27.35 0.12 -0.12
Power
JSW Energy Ltd 56,250 269.55 1.14 -1.15
CESC Ltd 1,55,025 246.51 1.04 -1.05
Tata Power Co Ltd 62,100 238.71 1.01 -1.01
NTPC Ltd 6,000 21.27 0.09 -0.09
Realty
Godrej Properties Ltd 26,325 569.01 2.41 -2.41
Prestige Estates Projects Ltd 20,475 281.55 1.19 -1.20
DLF Ltd 4,950 33.38 0.14 -0.14
Retailing
Aditya Birla Fashion and Retail Ltd 83,200 219.27 0.93 -0.93
Trent Ltd 1,400 72.42 0.31 -0.31
Telecom - Services
Vodafone Idea Ltd* 1,38,00,000 982.56 4.16 -4.16
Bharti Airtel Ltd 17,575 327.69 1.39 -1.39
Tata Communications Ltd 250 3.98 0.02 -0.02
Transport Infrastructure
GMR Airports Ltd 1,01,250 88.28 0.37 -0.38
Transport Services
Interglobe Aviation Ltd 3,750 196.86 0.83 -0.84
Container Corporation Of India Ltd 3,000 20.21 0.09 -0.09
Total Equity Holdings 16,282.91 68.93 -69.15
Company Name Company Ratings Market Value (including accrued interest, if any) (Rs. in Lakhs) % of Assets
LIC Housing Finance Ltd* CRISIL AAA 1,063.32 4.50
Poonawalla Fincorp Ltd* CRISIL AAA 1,002.91 4.25
Total Corporate Debt 2,066.22 8.75
Canara Bank* CRISIL A1+ 952.22 4.03
HDFC Bank Ltd* CARE A1+ 950.95 4.03
Total Money Market Instruments 1,903.16 8.06
182 DTB (05-JUN-2025)* SOVEREIGN 1,491.60 6.31
364 DTB (26-MAR-2026) SOVEREIGN 474.74 2.01
Total Gilts 1,966.35 8.32
Total Debt Holdings 5,935.73 25.13
Mutual Fund Units
Franklin India Money Market Fund Direct-Growth Plan* 19,43,748 996.87 4.22
Franklin India Liquid Fund Direct-Growth Plan 1,306 51.22 0.22
Total Mutual Fund Units 1,048.09 4.44
 
Total Holdings 23,266.73 98.50
Margin on Derivatives 99.70 0.42
Call,cash and other current asset 254.78 1.08
Total Asset 23,621.22 100.00
* Top 10 holdings

@ Reverse Repo : 5.05%, Others (Cash/ Subscription receivable/ Redemption payable/ Receivables on sale/Payable on Purchase/ Other Receivable / Other Payable) : -3.97%


Note : Pursuant to downgrade of securities issued by Yes Bank Ltd to below investment grade on March 6, 2020 by ICRA, the AMC has created the segregated portfolio in the scheme. For purpose of disclosure, this change has been incorporated in the scheme name.


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