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MF Analyser

NJ Arbitrage Fund

Regular Plan · Growth Option · Arbitrage · Scheme code 150366

NAV₹12.7925as on 25 Sep 2026
Fund houseNJ Mutual Fund
CategoryArbitrage
Plan & optionRegular · Growth Option
History4.1 years

Returns (%)

 1M3M6M1Y3Y5Y7Y10YLaunch
This scheme 0.691.322.53 5.696.11— ——6.10
Arbitrage
category median		 ——— 5.956.575.95 —5.73—

Over a year annualised (CAGR), under a year absolute. Computed from AMFI's published NAV history for this scheme.

Risk

 VolatilitySharpeSortinoBetaAlphaMax fallR²
This scheme 1.2% -0.34 -0.62 — — -0.7% —

Risk-free rate 6.5%. Beta, alpha and R² are regressed on the — months this scheme and its benchmark share.

Growth of ₹100 since launch

9810911913020242026MF Analyser

Every one-year period it has lived through

WindowsWorstMedianBestPeriods that lost money
155 5.2% 6.4% 7.5% 0%

Every one-year holding period in this scheme's history, not just the last one — the spread a real investor would have met depending only on when they started.

MF Analyser

NJ Arbitrage Fund

Regular Plan · Growth Option

Allocation

By asset

Equity82.17%
Debt11.67%

By market cap

Large Cap72.89%
Mid Cap7.35%
Small Cap1.92%
Unclassified11.67%

Concentration

Number of stocks71
Top 5 stocks32.89%
Top 10 stocks48.78%
Top 20 stocks67.17%
Lines in the filing176
Largest holding7.91%
Largest sectorBanks 25.07%
Effective stocks30.1
Sectors held30
Cash-77.01%

Effective stocks is what the concentration works out to: a fund holding 71 names but most of its money in a few behaves like a fund of 30. Cash includes repo and TREPS, which every fund parks money in overnight.

Sector split

Sovereign — 11.7%Cash & Equivalents — 6.2%Other — 0.2%Sovereign11.7%Cash & Equivalents6.2%Other0.2%
Sovereign11.67%
Cash & Equivalents6.16%
Pharmaceuticals & Biotechnology0.14%
Consumer Durables0.02%
Financial Technology (Fintech)0.01%
Chemicals & Petrochemicals0.01%
MF Analyser

NJ Arbitrage Fund

Regular Plan · Growth Option · holdings

Top 30 holdings

#CompanySectorShares held Value
₹ cr		% of fund
1 Kotak Mahindra Bank Limited Banks 450,000 19 7.91%
2 Bharti Airtel Limited Telecom - Services 92,150 17 7.00%
3 Reliance Industries Limited Petroleum Products 128,000 16 6.85%
4 Vodafone Idea Limited Telecom - Services 11,007,150 16 6.61%
5 Sun Pharmaceutical Industries Limited Pharmaceuticals & Biotechnology 54,250 11 4.51%
6 Adani Enterprises Limited Metals & Minerals Trading 32,754 9 3.93%
7 Clearing Corporation of India Ltd Unclassified — 9 3.69%
8 Canara Bank Banks 621,000 8 3.30%
9 HDFC Bank Limited Banks 110,500 8 3.28%
10 ICICI Bank Limited Banks 46,200 7 2.82%
11 364 Days Tbill (MD 03/12/2026) Sovereign 618,100 6 2.56%
12 Net Receivables / (Payables) Unclassified — 6 2.47%
13 Biocon Limited Pharmaceuticals & Biotechnology 127,500 5 2.20%
14 UltraTech Cement Limited Cement & Cement Products 4,450 5 2.14%
15 182 Days Tbill (MD 08/10/2026) Sovereign 500,000 5 2.09%
16 Mahindra & Mahindra Limited Automobiles 14,800 5 2.04%
17 ITC Limited Diversified FMCG 181,125 5 1.94%
18 Bajaj Finance Limited Finance 39,000 4 1.73%
19 Bank of Baroda Banks 163,800 4 1.64%
20 Adani Power Limited Power 188,150 4 1.56%
21 State Bank of India Banks 34,500 4 1.53%
22 Axis Bank Limited Banks 28,125 4 1.53%
23 SBI Life Insurance Company Limited Insurance 19,125 3 1.40%
24 Yes Bank Limited Banks 1,399,500 3 1.34%
25 Eicher Motors Limited Automobiles 3,900 3 1.30%
26 Tata Steel Limited Ferrous Metals 165,000 3 1.28%
27 Steel Authority of India Limited Ferrous Metals 155,100 3 1.27%
28 364 Days Tbill (MD 02/10/2026) Sovereign 300,000 3 1.25%
29 364 Days Tbill (MD 29/10/2026) Sovereign 300,000 3 1.25%
30 364 Days Tbill (MD 25/02/2027) Sovereign 300,000 3 1.22%
MF Analyser

NJ Arbitrage Fund

Regular Plan · Growth Option · where the money sits

What the manager did last month

Between the filings of 31 Jul 2026 and 31 Aug 2026. A position grows because the manager bought or because the price rose; only the share count separates them.

BoughtSoldNew positionsSold out ofPrice move of holdings
₹5 cr ₹26 cr 3 8 -0.31%
StockShares tradedShares PriceValue
₹ cr
New position
Infosys Limited 16,400 entered — 1.9
Torrent Pharmaceuticals Limited 375 entered — 0.2
SBI Cards and Payment Services Limited 1,600 entered — 0.1
Added to
State Bank of India 28,500 +475.0% +3.2% 3.0
HDFC Bank Limited 13,000 +13.3% -5.2% 0.9
Indian Energy Exchange Limited 47,850 +84.6% -8.9% 0.6
Trimmed
Mahindra & Mahindra Limited 20,800 -58.4% -3.4% 6.8
Titan Company Limited 6,825 -95.1% +4.7% 3.5
Bajaj Finance Limited 24,750 -38.8% -7.4% 2.6
Reliance Industries Limited 20,000 -13.5% -2.4% 2.6
Grasim Industries Limited 6,500 -76.5% +8.7% 2.2
ICICI Bank Limited 13,300 -22.4% +1.3% 1.9
Bharti Airtel Limited 10,450 -10.2% -8.1% 1.9
Punjab National Bank 160,000 -64.5% +1.4% 1.8
Sold out of
Maruti Suzuki India Limited 1,650 exited — 2.4
Adani Energy Solutions Limited 12,825 exited — 2.1
Laurus Labs Limited 4,250 exited — 0.8
IndusInd Bank Limited 2,800 exited — 0.3
Eternal Limited 4,850 exited — 0.2
Bajaj Finserv Limited 600 exited — 0.1
Oracle Financial Services Software Limited 100 exited — 0.1
Coal India Limited 2,700 exited — 0.1
Not equityPrevious filingThis filingChange
Cash, repo and TREPS ₹0 cr ₹0 cr +₹0 cr
Debt: bills, CDs and commercial paper ₹32 cr ₹28 cr −₹4 cr

The list above is stocks and fund units. Treasury bills, repo and money-market lines roll over every month by design — they are not decisions, so they are totalled here rather than listed as activity.

Not investment advice. InvestVerdict is not a SEBI-registered Investment Adviser or Research Analyst. Every figure is computed from AMFI's published NAV history and the portfolio the AMC filed with AMFI; none of it is a recommendation to buy, hold or sell. Past returns do not predict future ones. Generated 26 Sep 2026.