JM Financial Mutual Fund
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JM Arbitrage Fund - Direct Plan - Growth Option

JM Financial Mutual Fund · Arbitrage Fund · Direct · Growth

NAV · as of 11/09/2026

37.36

1D

-0.22%

1Y

+6.29%

Key stats

Expense ratio
1.47%
AUM
₹391.40 Cr
Launched
01/01/2013
Fund manager
Satish Ramanathan; Asit Bhandarkar; Ruchi Fozdar; Deepak Gupta
Portfolio turnover
10.69%
Risk
Low Risk
Min lump-sum
₹1,000
Min SIP
₹1,000/mo
Fresh lump-sum
Accepted
Fresh SIP
Accepted

NAV history

JM Arbitrage Fund - Direct Plan - Growth Option

13/08/2026 to 11/09/2026

O - H - L -

37.4437.1713/08/202611/09/2026
1W+0.23%
1M+0.32%
3M+1.54%
6M+2.87%
1Y+6.29%
3Y+6.96%
5Y+6.35%
MAX+133.74%

Top holdings

235 disclosed
  • 1.

    Cash Offset For Derivatives

    79.03%
  • 2.

    JM Liquid Dir Gr

    6.07%
  • 3.

    Ccil

    6.02%
  • 4.

    Future on HDFC Bank Ltd

    5.01%
  • 5.

    HDFC Bank Ltd

    Financial Services

    4.98%
  • 6.

    Future on ICICI Bank Ltd

    3.95%
  • 7.

    Future on Kotak Mahindra Bank Ltd

    3.93%
  • 8.

    ICICI Bank Ltd

    Financial Services

    3.93%
  • 9.

    Kotak Mahindra Bank Ltd

    Financial Services

    3.90%
  • 10.

    Future on Reliance Industries Ltd

    3.67%
  • 11.

    Reliance Industries Ltd

    Energy

    3.65%
  • 12.

    Future on Vodafone Idea Ltd

    3.48%
  • 13.

    Vodafone Idea Ltd

    Communication Services

    3.46%
  • 14.

    Eternal Limited 28/07/2026

    2.73%
  • 15.

    Eternal Ltd

    Consumer Cyclical

    2.72%
  • 16.

    Future on Tata Steel Ltd

    2.71%
  • 17.

    Tata Steel Ltd

    Basic Materials

    2.69%
  • 18.

    Net Receivable/Payable

    2.32%
  • 19.

    Future on Bharti Airtel Ltd

    2.23%
  • 20.

    Bharti Airtel Ltd

    Communication Services

    2.23%
  • 21.

    Future on Eicher Motors Ltd

    2.15%
  • 22.

    Eicher Motors Ltd

    Consumer Cyclical

    2.14%
  • 23.

    Future on Yes Bank Ltd

    2.02%
  • 24.

    Yes Bank Ltd

    Financial Services

    2.01%
  • 25.

    Future on Adani Ports & Special Economic Zone Ltd

    1.90%
  • 26.

    Adani Ports & Special Economic Zone Ltd

    Industrials

    1.89%
  • 27.

    Future on Adani Enterprises Ltd

    1.80%
  • 28.

    Adani Enterprises Ltd

    Energy

    1.79%
  • 29.

    National Building Construction Corp 28/07/2026

    1.78%
  • 30.

    NBCC India Ltd

    Industrials

    1.77%
  • 31.

    Future on Lodha Developers Ltd

    1.49%
  • 32.

    Lodha Developers Ltd

    Real Estate

    1.48%
  • 33.

    Future on NMDC Ltd

    1.42%
  • 34.

    NMDC Ltd

    Basic Materials

    1.41%
  • 35.

    Mahindra & Mahindra Ltd

    Consumer Cyclical

    1.35%
  • 36.

    Future on Bharat Heavy Electricals Ltd

    1.35%
  • 37.

    Future on Mahindra & Mahindra Ltd

    1.34%
  • 38.

    Bharat Heavy Electricals Ltd

    Industrials

    1.34%
  • 39.

    Future on FSN E-Commerce Ventures Ltd

    1.33%
  • 40.

    FSN E-Commerce Ventures Ltd

    Consumer Cyclical

    1.32%
  • 41.

    09/07/2026 Maturing 182 DTB

    1.31%
  • 42.

    Tbill

    1.30%
  • 43.

    Tbill

    1.30%
  • 44.

    Tbill

    1.30%
  • 45.

    Future on Varun Beverages Ltd

    1.29%
  • 46.

    Varun Beverages Ltd

    Consumer Defensive

    1.29%
  • 47.

    Tbill

    1.28%
  • 48.

    Future on JSW Steel Ltd

    1.23%
  • 49.

    JSW Steel Ltd

    Basic Materials

    1.23%
  • 50.

    Future on Adani Energy Solutions Ltd

    1.14%
  • 51.

    Adani Energy Solutions Ltd

    Utilities

    1.13%
  • 52.

    Future on Axis Bank Ltd

    1.09%
  • 53.

    Axis Bank Ltd

    Financial Services

    1.08%
  • 54.

    Future on Bank of Baroda

    1.07%
  • 55.

    Bank of Baroda

    Financial Services

    1.06%
  • 56.

    Future on Steel Authority Of India Ltd

    1.01%
  • 57.

    Steel Authority Of India Ltd

    Basic Materials

    1.00%
  • 58.

    Future on Larsen & Toubro Ltd

    0.97%
  • 59.

    Larsen & Toubro Ltd

    Industrials

    0.97%
  • 60.

    Future on Bandhan Bank Ltd

    0.91%
  • 61.

    Bandhan Bank Ltd

    Financial Services

    0.90%
  • 62.

    Indus Towers Limited 28/07/2026

    0.89%
  • 63.

    Future on State Bank of India

    0.89%
  • 64.

    Indus Towers Ltd Ordinary Shares

    Communication Services

    0.89%
  • 65.

    Future on LIC Housing Finance Ltd

    0.89%
  • 66.

    State Bank of India

    Financial Services

    0.89%
  • 67.

    LIC Housing Finance Ltd

    Financial Services

    0.88%
  • 68.

    Future on Max Financial Services Ltd

    0.85%
  • 69.

    Max Financial Services Ltd

    Financial Services

    0.84%
  • 70.

    Future on Bharat Electronics Ltd

    0.83%
  • 71.

    Future on Punjab National Bank

    0.83%
  • 72.

    Bharat Electronics Ltd

    Industrials

    0.83%
  • 73.

    Punjab National Bank

    Financial Services

    0.83%
  • 74.

    Future on Canara Bank

    0.74%
  • 75.

    Canara Bank

    Financial Services

    0.73%
  • 76.

    Future on Jio Financial Services Ltd

    0.73%
  • 77.

    Jio Financial Services Ltd

    Financial Services

    0.73%
  • 78.

    Future on Maruti Suzuki India Ltd

    0.72%
  • 79.

    Maruti Suzuki India Ltd

    Consumer Cyclical

    0.72%
  • 80.

    United Spirits Ltd

    Consumer Defensive

    0.71%
  • 81.

    Future on United Spirits Ltd

    0.70%
  • 82.

    Future on Adani Power Ltd

    0.65%
  • 83.

    Adani Power Ltd

    Utilities

    0.64%
  • 84.

    Future on Grasim Industries Ltd

    0.63%
  • 85.

    Grasim Industries Ltd

    Basic Materials

    0.63%
  • 86.

    Future on Indian Hotels Co Ltd

    0.62%
  • 87.

    Indian Hotels Co Ltd

    Consumer Cyclical

    0.62%
  • 88.

    Titan Company Limited 28/07/2026

    0.61%
  • 89.

    Titan Co Ltd

    Consumer Cyclical

    0.60%
  • 90.

    Future on RBL Bank Ltd

    0.55%
  • 91.

    RBL Bank Ltd

    Financial Services

    0.55%
  • 92.

    17/07/2026 Maturing 182 DTB

    0.52%
  • 93.

    Future on Adani Green Energy Ltd

    0.52%
  • 94.

    Future on Shriram Finance Ltd

    0.52%
  • 95.

    Shriram Finance Ltd

    Financial Services

    0.52%
  • 96.

    Adani Green Energy Ltd

    Utilities

    0.51%
  • 97.

    Future on Manappuram Finance Ltd

    0.51%
  • 98.

    Manappuram Finance Ltd

    Financial Services

    0.51%
  • 99.

    Future on Info Edge (India) Ltd

    0.51%
  • 100.

    Info Edge (India) Ltd

    Communication Services

    0.51%
  • 101.

    Future on Biocon Ltd

    0.50%
  • 102.

    Biocon Ltd

    Healthcare

    0.49%
  • 103.

    Future on HDFC Life Insurance Co Ltd

    0.47%
  • 104.

    HDFC Life Insurance Co Ltd

    Financial Services

    0.46%
  • 105.

    Future on Laurus Labs Ltd

    0.44%
  • 106.

    Laurus Labs Ltd

    Healthcare

    0.44%
  • 107.

    Future on Hindustan Unilever Ltd

    0.44%
  • 108.

    Hindustan Unilever Ltd

    Consumer Defensive

    0.43%
  • 109.

    Future on IDFC First Bank Ltd

    0.43%
  • 110.

    IDFC First Bank Ltd

    Financial Services

    0.42%
  • 111.

    DLF Ltd

    Real Estate

    0.42%
  • 112.

    Future on DLF Ltd

    0.42%
  • 113.

    Future on Cipla Ltd

    0.41%
  • 114.

    Cipla Ltd

    Healthcare

    0.41%
  • 115.

    Crompton Greaves Consumer Electricals Ltd

    Consumer Cyclical

    0.40%
  • 116.

    Future on Ambuja Cements Ltd

    0.40%
  • 117.

    Future on Crompton Greaves Consumer Electricals Ltd

    0.40%
  • 118.

    Future on Godrej Properties Ltd

    0.40%
  • 119.

    Ambuja Cements Ltd

    Basic Materials

    0.40%
  • 120.

    Godrej Properties Ltd

    Real Estate

    0.40%
  • 121.

    Future on Coal India Ltd

    0.39%
  • 122.

    Coal India Ltd

    Energy

    0.39%
  • 123.

    Future on AU Small Finance Bank Ltd

    0.38%
  • 124.

    AU Small Finance Bank Ltd

    Financial Services

    0.38%
  • 125.

    Future on Sun Pharmaceuticals Industries Ltd

    0.38%
  • 126.

    Sun Pharmaceuticals Industries Ltd

    Healthcare

    0.37%
  • 127.

    Future on Hitachi Energy India Ltd Ordinary Shares

    0.37%
  • 128.

    Hitachi Energy India Ltd Ordinary Shares

    Industrials

    0.37%
  • 129.

    Future on Glenmark Pharmaceuticals Ltd

    0.35%
  • 130.

    Glenmark Pharmaceuticals Ltd

    Healthcare

    0.35%
  • 131.

    Future on Patanjali Foods Ltd

    0.31%
  • 132.

    Itc Limited 28/07/2026

    0.31%
  • 133.

    Patanjali Foods Ltd

    Consumer Defensive

    0.31%
  • 134.

    Future on Tata Motors Passenger Vehicles Ltd

    0.31%
  • 135.

    ITC Ltd

    Consumer Defensive

    0.31%
  • 136.

    Tata Motors Passenger Vehicles Ltd

    Consumer Cyclical

    0.31%
  • 137.

    Future on Mankind Pharma Ltd

    0.28%
  • 138.

    Mankind Pharma Ltd

    Healthcare

    0.28%
  • 139.

    Future on Bajaj Finserv Ltd

    0.28%
  • 140.

    Bajaj Finserv Ltd

    Financial Services

    0.28%
  • 141.

    Future on Avenue Supermarts Ltd

    0.28%
  • 142.

    Avenue Supermarts Ltd

    Consumer Defensive

    0.27%
  • 143.

    Future on Hindalco Industries Ltd

    0.26%
  • 144.

    Hindalco Industries Ltd

    Basic Materials

    0.26%
  • 145.

    Future on Divi's Laboratories Ltd

    0.26%
  • 146.

    Divi's Laboratories Ltd

    Healthcare

    0.26%
  • 147.

    Future on Bajaj Finance Ltd

    0.26%
  • 148.

    Bajaj Finance Ltd

    Financial Services

    0.26%
  • 149.

    Future on TVS Motor Co Ltd

    0.26%
  • 150.

    TVS Motor Co Ltd

    Consumer Cyclical

    0.25%
  • 151.

    Future on ICICI Prudential Life Insurance Co Ltd

    0.25%
  • 152.

    ICICI Prudential Life Insurance Co Ltd

    Financial Services

    0.25%
  • 153.

    UPL Ltd

    Basic Materials

    0.24%
  • 154.

    Upl Limited 28/07/2026

    0.24%
  • 155.

    Future on UltraTech Cement Ltd

    0.24%
  • 156.

    UltraTech Cement Ltd

    Basic Materials

    0.24%
  • 157.

    Future on CG Power & Industrial Solutions Ltd

    0.23%
  • 158.

    CG Power & Industrial Solutions Ltd

    Industrials

    0.23%
  • 159.

    Future on Kalyan Jewellers India Ltd

    0.21%
  • 160.

    Future on GMR Airports Ltd

    0.21%
  • 161.

    Kalyan Jewellers India Ltd

    Consumer Cyclical

    0.20%
  • 162.

    GMR Airports Ltd

    Industrials

    0.20%
  • 163.

    Future on Hindustan Aeronautics Ltd Ordinary Shares

    0.19%
  • 164.

    Hindustan Aeronautics Ltd Ordinary Shares

    Industrials

    0.19%
  • 165.

    Future on Tata Power Co Ltd

    0.16%
  • 166.

    Tata Power Co Ltd

    Utilities

    0.16%
  • 167.

    Future on SBI Life Insurance Co Ltd

    0.16%
  • 168.

    SBI Life Insurance Co Ltd

    Financial Services

    0.16%
  • 169.

    Future on Swiggy Ltd

    0.15%
  • 170.

    Swiggy Ltd

    Consumer Cyclical

    0.15%
  • 171.

    Future on InterGlobe Aviation Ltd

    0.15%
  • 172.

    InterGlobe Aviation Ltd

    Industrials

    0.15%
  • 173.

    Future on APL Apollo Tubes Ltd

    0.13%
  • 174.

    APL Apollo Tubes Ltd

    Basic Materials

    0.13%
  • 175.

    Future on Hindustan Zinc Ltd

    0.12%
  • 176.

    Hindustan Zinc Ltd

    Basic Materials

    0.12%
  • 177.

    Future on NTPC Ltd

    0.11%
  • 178.

    NTPC Ltd

    Utilities

    0.11%
  • 179.

    Rural Electrification Corporation Ltd 28/07/2026

    0.11%
  • 180.

    REC Ltd

    Financial Services

    0.10%
  • 181.

    Future on Indian Energy Exchange Ltd

    0.10%
  • 182.

    Indian Energy Exchange Ltd

    Financial Services

    0.10%
  • 183.

    Future on Rail Vikas Nigam Ltd

    0.10%
  • 184.

    Rail Vikas Nigam Ltd

    Industrials

    0.09%
  • 185.

    Future on Hindustan Petroleum Corp Ltd

    0.08%
  • 186.

    Hindustan Petroleum Corp Ltd

    Energy

    0.08%
  • 187.

    Dabur India Ltd

    Consumer Defensive

    0.08%
  • 188.

    Future on Dabur India Ltd

    0.08%
  • 189.

    Future on Amber Enterprises India Ltd Ordinary Shares

    0.08%
  • 190.

    Amber Enterprises India Ltd Ordinary Shares

    Consumer Cyclical

    0.08%
  • 191.

    Future on UNO Minda Ltd

    0.08%
  • 192.

    UNO Minda Ltd

    Consumer Cyclical

    0.08%
  • 193.

    Future on PNB Housing Finance Ltd

    0.07%
  • 194.

    PNB Housing Finance Ltd

    Financial Services

    0.07%
  • 195.

    Future on Aurobindo Pharma Ltd

    0.07%
  • 196.

    Aurobindo Pharma Ltd

    Healthcare

    0.07%
  • 197.

    Future on Tata Consumer Products Ltd

    0.06%
  • 198.

    Tata Consumer Products Ltd

    Consumer Defensive

    0.06%
  • 199.

    Future on Union Bank of India

    0.06%
  • 200.

    Union Bank of India

    Financial Services

    0.06%
  • 201.

    Future on Prestige Estates Projects Ltd

    0.06%
  • 202.

    Prestige Estates Projects Ltd

    Real Estate

    0.06%
  • 203.

    Future on Bharat Petroleum Corp Ltd

    0.05%
  • 204.

    Bharat Petroleum Corp Ltd

    Energy

    0.05%
  • 205.

    Future on HDFC Asset Management Co Ltd

    0.04%
  • 206.

    HDFC Asset Management Co Ltd

    Financial Services

    0.04%
  • 207.

    Hero MotoCorp Ltd

    Consumer Cyclical

    0.04%
  • 208.

    Future on Hero MotoCorp Ltd

    0.04%
  • 209.

    Future on Exide Industries Ltd

    0.04%
  • 210.

    Exide Industries Ltd

    Consumer Cyclical

    0.04%
  • 211.

    Future on JSW Energy Ltd

    0.03%
  • 212.

    JSW Energy Ltd

    Utilities

    0.03%
  • 213.

    Future on Inox Wind Ltd

    0.03%
  • 214.

    Inox Wind Ltd

    Industrials

    0.03%
  • 215.

    Future on Cholamandalam Investment and Finance Co Ltd

    0.03%
  • 216.

    Cholamandalam Investment and Finance Co Ltd

    Financial Services

    0.03%
  • 217.

    Future on Apollo Hospitals Enterprise Ltd

    0.03%
  • 218.

    Apollo Hospitals Enterprise Ltd

    Healthcare

    0.03%
  • 219.

    Future on Delhivery Ltd

    0.03%
  • 220.

    Delhivery Ltd

    Industrials

    0.03%
  • 221.

    Sona BLW Precision Forgings Ltd

    Consumer Cyclical

    0.02%
  • 222.

    Future on Sona BLW Precision Forgings Ltd

    0.02%
  • 223.

    Future on Suzlon Energy Ltd

    0.02%
  • 224.

    Suzlon Energy Ltd

    Industrials

    0.02%
  • 225.

    Future on Bank of India

    0.02%
  • 226.

    Bank of India

    Financial Services

    0.02%
  • 227.

    Coforge Ltd

    -
  • 228.

    Waaree Energies Ltd

    -
  • 229.

    Nuvama Wealth Management Ltd

    -
  • 230.

    Multi Commodity Exchange of India Ltd

    -
  • 231.

    Asian Paints Ltd

    -
  • 232.

    Max Healthcare Institute Ltd Ordinary Shares

    -
  • 233.

    Shriram Finance Limited - NCD & Bonds

    -
  • 234.

    Tbill

    -
  • 235.

    Sammaan Capital Ltd

    -

Sector allocation

  • Unclassified179.47%
  • Financial Services26.95%
  • Consumer Cyclical11.04%
  • Basic Materials8.35%
  • Industrials8.09%
  • Communication Services7.08%
  • Energy5.96%
  • Consumer Defensive3.47%
  • Healthcare2.70%
  • Utilities2.60%
  • Real Estate2.35%

Comparable peers

  • Tata Arbitrage Growth Direct Plan

    Tata Arbitrage (G) · ₹24.95 K Cr AUM

    1Y+6.96%
    3Y+7.59%
    -

  • Edelweiss Arbitrage Growth Direct Plan

    Edelweiss Arbitrage (G) · ₹15.14 K Cr AUM

    1Y+6.88%
    3Y+7.51%
    -

  • Invesco India Arbitrage Growth Direct Plan

    Invesco India Arbitrage (G) · ₹29.63 K Cr AUM

    1Y+6.76%
    3Y+7.48%
    -

  • Kotak Arbitrage Growth Direct Plan

    Kotak Arbitrage (G) · ₹74.40 K Cr AUM

    1Y+6.71%
    3Y+7.51%
    -

  • JM Arbitrage Growth Direct Plan

    JM Arbitrage (G) · ₹391.40 Cr AUM

    1Y+6.58%
    3Y+7.08%
    -

Investment objective

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

Scheme details

Scheme code
120482
Fund house
JM Financial Mutual Fund
Category
Open Ended
Type
Hybrid Schemes
Sub-category
Arbitrage Fund
Plan
Direct
Return type
Growth
ISIN (Growth)
INF192K01BN6
ISIN (Div. Reinvest)
-
Tradable on exchange
No

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