Fundalysisby DARKHORSESTOCKS

Scheme

DSP Arbitrage Fund

Holds 161 companies worth ₹4,529 Cr in Sept 2026.

  • Fund house

    DSPThe fund house that runs this scheme.

  • AUM

    ₹6,720 CrDSP Arbitrage Fund's AUM at the end of 30 Sept 2026, as AMFI reports it. Up 0.7% on Aug 2026, ₹6,673 Cr.

  • Largest holding

    HDFC BankHDFC Bank is 4.8% of this scheme's NAV.

  • Fund manager

    Karan MundhraRuns its co-manager part since 1 Aug 2024, as the fund house dates it. With Kaivalya Nadkarni (co-manager).

Overview(6 Oct 2026)

Fund managers2

  1. Karan MundhraCo-manager, debt · Aug 2024 · 16y · CA B.Com
  2. Kaivalya NadkarniCo-manager, equity · Oct 2024 · 6y · CA B.Com
  1. Abhishek SinghApr 2022 – Oct 2024

Key facts

Benchmark
Nifty 50 Arbitrage Index
Risk
Low
Expense
Regular 1.8% · Direct 1.16%
Exit load
10% within 15 days
Started
25 Jan 2018
Minimum
₹100

Source.Its Scheme Summary Document as of 6 Oct 2026 at AMFI.

What changed(48 changes)

Oct 2026

2 changes
  1. Exit load
    6 OctNil → 10% within 15 days
  2. Expense ratio
    1 OctRegular 1.81% → 1.8%Direct 1.17% → 1.16%

Aug 2026

2 changes

Jul 2026

1 change
  1. Expense ratio
    1 JulRegular 2.58% → 1.88%Direct 1.92% → 1.21%

Source.Its filings at NSE, since Aug 2024.

Fund managers over time(Apr 2022 – now)

  1. Karan Mundhra
  2. Kaivalya Nadkarni
  3. Abhishek Singh
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(Aug 2024 – Oct 2026)

Every change to the expense ratio, newest first.
46 changesRegularDirectΔ pt
1 Oct 20261.80%1.16%0.01
31 Aug 20261.81%1.17%0.03
12 Aug 20261.84%1.20%0.01
1 Jul 20261.88%1.21%0.71
18 Jun 20262.58%1.92%1.15
17 Jun 20261.44%0.77%0.08
16 Jun 20261.51%0.85%0.23
15 Jun 20261.29%0.62%0.56
12 Jun 20261.85%1.18%0.13
10 Jun 20261.96%1.31%0.19
4 Jun 20261.77%1.12%0.05
1 Jun 20261.82%1.17%0.61
28 May 20262.44%1.78%0.55
26 May 20261.89%1.23%1.47
25 May 20263.36%2.70%0.61
24 May 20263.97%3.31%2.70
20 May 20266.67%6.01%4.09
19 May 20262.58%1.92%0.09
18 May 20262.49%1.83%0.24
13 May 20262.25%1.59%0.90
10 May 20261.35%0.69%0.34
29 Apr 20261.01%0.35%0.42
28 Apr 20261.43%0.77%2.22
27 Apr 20263.64%2.99%1.29
26 Apr 20264.93%4.28%1.40
23 Apr 20263.54%2.88%1.43
20 Apr 20262.10%1.45%0.24
19 Apr 20261.87%1.21%0.34
15 Apr 20261.52%0.87%0.15
14 Apr 20261.38%0.72%0.07
13 Apr 20261.31%0.65%0.10
9 Apr 20261.20%0.55%0.02
6 Apr 20261.17%0.53%0.19
15 Mar 20260.95%0.34%0.01
4 Mar 20260.96%0.35%0
1 Feb 20260.98%0.35%0
10 Oct 20251.00%0.35%0
6 Aug 20250.99%0.35%0.01
18 Jul 20250.98%0.34%0.01
8 May 20250.99%0.35%0.01
29 Apr 20250.98%0.34%0.01
25 Apr 20251.00%0.35%0.01
17 Mar 20250.99%0.34%0.01
28 Jan 20251.00%0.35%0
22 Aug 20240.99%0.35%0.01
21 Aug 20240.98%0.34%–
Direct plan, 1 Oct 2026
1.16%
Regular plan 1.80% · Exit load 10% 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(6 Oct 2026)

Objective

The investment objective of the Scheme is to generate income predominantly through arbitrage opportunities between cash and derivative market and arbitrage opportunities within the derivative market. Investments may also be made in debt & money market instruments. However, there can be no assurance that the investment objective of the scheme will be achieved.

Risk, type and benchmark

Riskometer
Low
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. 1. Equity & Equity related instruments
    Allowed65–100%
  2. 2. Certificate of deposits (CDs) / Government securities with maturity upto 1 year (including Repo on G-sec/ TREPS) / Units of Liquid Fund (including Liquid ETFs) / Money Market Fund / Overnight Fund or Schemes having Macaulay Duration of less than 1 year
    Allowed0–35%
  3. 1. Equity & Equity related instruments
    Allowed0–65%
  4. 2. Certificate of deposits (CDs) / Government securities with maturity upto 1 year (including Repo on G-sec/ TREPS / Units of Liquid Fund (including Liquid ETFs) / Money Market Fund / Overnight Fund or Schemes having Macaulay Duration of less than 1 year
    Allowed35–100%

Holds in Sept 2026.67.4% equity · 32.6% debt and cash

How to invest(6 Oct 2026)

Buying

To start
₹100, then in multiples of ₹1
To add
₹100, then in multiples of ₹1
Systematic
SIP Daily, Weekly, Monthly, Quarterly, Half-Yearly and Yearly SWP Weekly, Monthly, Quarterly, Half-Yearly and Yearly STP Daily, Weekly, Monthly, Quarterly, Half-Yearly and Yearly *Weekly Monday to Friday
Dates
Any date
Minimum
₹100, then in multiples of ₹1
Instalments
SIP - 12, SWP & STP - 6

Selling and switching

To redeem
₹0.01 or 0.001 units
Switch minimum
₹100 or 0.001 units
Switch multiples
₹0.01 or 0.001 units

Scheme details(6 Oct 2026)

What it is

Category
Arbitrage Fund
Offer
15 Jan 2018 to 22 Jan 2018
Started
25 Jan 2018
Reopened
29 Jan 2018
Plans
Regular Plan & Direct Plan Growth (Option A) Income Distribution cum Capital Withdrawal option (IDCW) (Option B) - Payout of Income Distribution cum Capital Withdrawal (IDCW) - Reinvestment of Income Distribution cum Capital Withdrawal (IDCW) Monthly Income Distribution cum Capital Withdrawal option (IDCW) (Option C) - Payout of Income Distribution cum Capital Withdrawal (IDCW) - Reinvestment of Income Distribution cum Capital Withdrawal (IDCW) Default Option - Growth Option in case Growth Option or Income Distribution cum Capital Withdrawal (IDCW) Option is not indicated. - Payout sub-option in case Payout of IDCW Option or Reinvestment of IDCW Option is not indicated
Face value
₹10
Listed
No

How it is run

Swing pricing
No
Side-pocketing
Yes
Custodian
HSBC
Auditor
S.R. Batliboi & Co LLP
Registrar
Computer Age Management Services Limited
SEBI code
DSPM/O/H/ARB/17/12/0033