Fundalysisby DARKHORSESTOCKS

Scheme

Baroda BNP Paribas Arbitrage Fund

Holds 86 companies worth ₹723 Cr in Sept 2026.

  • Fund house

    BNPThe fund house that runs this scheme.

  • AUM

    ₹1,015 CrBaroda BNP Paribas Arbitrage Fund's AUM at the end of 30 Sept 2026, as AMFI reports it. Down 3.8% on Aug 2026, ₹1,055 Cr.

  • Largest holding

    Idea CellularIdea Cellular is 4.5% of this scheme's NAV.

  • Fund manager

    Neeraj SaxenaRuns it since 14 Mar 2022, as the fund house dates it. With Vikram Pamnani (fund manager), Meenakshi Gururaj (fund manager).

Overview(5 Oct 2026)

Fund managers3

  1. Neeraj SaxenaFund manager, equity · Mar 2022 · 21y · PGDM
  2. Vikram PamnaniFund manager, debt · Mar 2022 · 16y · PGDM
  3. Meenakshi GururajFund manager, equity · May 2026 · 17y · MBA
  1. Miten VoraDec 2022 – Apr 2025

Key facts

Benchmark
Nifty 50 Arbitrage Index
Risk
Low to Moderate
Expense
Regular 2.24% · Direct 1.47%
Exit load
0.25% within 15 days
Started
28 Dec 2016
Minimum
₹5,000

Source.Its Scheme Summary Document as of 5 Oct 2026 at AMFI.

What changed(15 changes)

Sept 2026

1 change
  1. Expense ratio
    14 SeptRegular 2.35% → 2.27%Direct 1.58% → 1.5%

Aug 2026

1 change
  1. Expense ratio
    13 AugRegular 1.53% → 2.35%Direct 0.75% → 1.58%

Jul 2026

1 change
  1. Expense ratio
    14 JulRegular 1.5% → 1.53%Direct 0.72% → 0.75%

Source.Its filings at NSE, since Jul 2024.

Fund managers over time(Mar 2022 – now)

  1. Neeraj Saxena
  2. Vikram Pamnani
  3. Meenakshi Gururaj
  4. Miten Vora
MainCoSlice2023202420252026
Fig. 1.Who ran it when: each manager from the date the fund house gives, or the first document listing them where it gives none, to when they left. A slice is part of it: overseas, gold and silver, or arbitrage.

Costs(Jul 2024 – Oct 2026)

Every change to the expense ratio, newest first.
13 changesRegularDirectΔ pt
14 Sept 20262.27%1.50%0.08
13 Aug 20262.35%1.58%0.83
14 Jul 20261.53%0.75%0.03
14 Jun 20261.50%0.72%0.06
14 May 20261.56%0.78%0.07
14 Apr 20261.62%0.85%0.54
15 Jul 20251.11%0.31%0
12 Jun 20251.12%0.31%0.02
14 May 20251.13%0.33%0.01
15 Apr 20251.15%0.34%0.03
13 Feb 20251.17%0.37%0.01
15 Oct 20241.18%0.38%0
31 Jul 20241.07%0.38%–
Direct plan, 14 Sept 2026
1.50%
Regular plan 2.27% · Exit load 0.25% within 15 days
Fig. 1.Total expense ratio a year, each plan's, as its Scheme Summary Documents state it, filing by filing at NSE. A change holds until the next.

Objective and risk(5 Oct 2026)

Objective

The primary investment objective of the scheme is to generate income and capital appreciation by investing in a combination of diversified portfolio of equity and equity related instruments, including use of equity derivatives strategies and arbitrage opportunities with exposure in debt and fixed income instruments. However, there can be no assurance that the investment objectives of the Scheme will be realized. The Scheme does not guarantee/indicate any returns.

Risk, type and benchmark

Riskometer
Low to Moderate
At launch
Low
Type
An Open ended Scheme investing in arbitrage opportunities.
Benchmark
Nifty 50 Arbitrage Index

Asset allocation it may hold% of NAV

  1. Equities, equity related instruments
    Allowed65–100%
  2. Debt instruments in CDs, government securities with maturities upto 1 year, and units of Mutual fund schemes$
    Allowed0–35%
  3. Equities, equity related instruments
    Allowed0–65%
  4. Debt instruments in CDs, government securities with maturities upto 1 year, and units of Mutual fund schemes$
    Allowed25–100%

Holds in Sept 2026.71.2% equity · 28.8% debt and cash

How to invest(5 Oct 2026)

Buying

To start
₹5,000, then in multiples of ₹1
To add
₹1,000, then in multiples of ₹1
Systematic
SIP - Daily, Weekly, Monthly, Quarterly SWP - Weekly, Monthly & Quarterly STP - Daily, Weekly, Forthnightly, Monthly & Quarterly
Minimum
SIP - 500 for daily, weekly & monthly and 1500 for quarterly, SWP - Rs. 1000 for Weekly, Monthly and 1500 for quarterly, STP - Rs. 1000 for Daily, Rs. 1000 for weekly, fortnightly, monthly and Rs. 1500 for quarterly, then sIP - Rs. 1, SWP - Rs. 1, STP - Rs. 1

Selling and switching

To redeem
₹1,000 or There will be no minimum redemption criterion for Unit based redemption units
Switch minimum
Minimum Amount for Switch In : 5000 Minimum Amount for Switch Out : 1000

Scheme details(5 Oct 2026)

What it is

Category
Arbitrage Fund
Offer
8 Dec 2016 to 22 Dec 2016
Started
28 Dec 2016
Reopened
28 Dec 2016
Plans
Regular & Direct
Face value
₹10
Listed
At present, the Units of the Scheme are not proposed to be listed on any stock exchange. However, the AMC / Trustee may at their sole discretion list the Units under the Scheme on one or more stock exchanges at a later date.

How it is run

Swing pricing
No
Side-pocketing
Yes
Custodian
Deutsche Bank AG
Auditor
S.R. Batliboi & Co. LLP, Chartered Accountants
Registrar
KFin Technologies Limited
SEBI code
BBNP/O/H/ARB/16/08/0015