Fundalysisby DARKHORSESTOCKS

Scheme

ICICI Prudential Arbitrage Fund

Holds 182 companies worth ₹25,312 Cr in Sept 2026.

  • Fund house

    ICICIThe fund house that runs this scheme.

  • AUM

    ₹35,576 CrICICI Prudential Arbitrage Fund's AUM at the end of 30 Sept 2026, as AMFI reports it. Up 2.1% on Aug 2026, ₹34,850 Cr.

  • Largest holding

    Reliance IndustriesReliance Industries is 4.4% of this scheme's NAV.

  • Fund manager

    Nikhil KabraRuns its co-manager part since 1 Jan 2021, as the fund house dates it. With Archana Nair (co-manager), Ajaykumar Solanki (co-manager), Darshil Dedhia (co-manager).

Overview(31 Jul 2026)

Fund managers4

  1. Nikhil KabraCo-manager · Jan 2021 · 11y · CFA B.Com
  2. Archana NairCo-manager · Feb 2024 · 7y · B.Com
  3. Ajaykumar SolankiCo-manager · Aug 2024 · 10y · CFA B.Com
  4. Darshil DedhiaCo-manager · Sept 2024 · 12y
  1. Rohan MaruJan 2021 – Sept 2024

Key facts

Benchmark
Nifty 50 Arbitrage Index
Risk
Low
Expense
Regular 0.79% · Direct 0.34%
Exit load
0.25% within 15 days
Started
30 Dec 2006
Minimum
₹500

Source.Its Scheme Summary Document as of 31 Jul 2026 at AMFI.

What changed(8 changes)

Jul 2026

2 changes
  1. Exit load
    30 Jul25% within 1 month → 0.25% within 15 days
  2. Expense ratio
    30 JulRegular 2.23% → 0.79%Direct 1.7% → 0.34%

May 2026

2 changes
  1. Expense ratio
    26 MayRegular 0.93% → 2.23%Direct 0.4% → 1.7%
  2. Renamed
    26 MayICICI Prudential Equity - Arbitrage Fund → ICICI Prudential Arbitrage Fund

Jan 2026

1 change
  1. Expense ratio
    4 JanRegular 0.89% → 0.93%Direct 0.31% → 0.4%

Source.Its filings at NSE, since Aug 2024.

Fund managers over time(Jan 2021 – now)

  1. Nikhil Kabra
  2. Archana Nair
  3. Ajaykumar Solanki
  4. Darshil Dedhia
  5. Rohan Maru
MainCoSlice20222023202420252026
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 – Jul 2026)

Every change to the expense ratio, newest first.
5 changesRegularDirectΔ pt
30 Jul 20260.79%0.34%1.36
26 May 20262.23%1.70%1.30
4 Jan 20260.93%0.40%0.09
18 Sept 20240.89%0.31%0.01
26 Aug 20240.90%0.32%–
Direct plan, 30 Jul 2026
0.34%
Regular plan 0.79% · 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(31 Jul 2026)

Objective

To generate low volatility returns by using arbitrage & other derivative strategies in equity markets and investments in permitted debt instruments. However, there can be no assurance or guarantee that the investment objective of the scheme would be achieved.

Risk, type and benchmark

Riskometer
Low
At launch
Low
Type
Open Ended
Benchmark
Nifty 50 Arbitrage Index

Asset allocation it may hold% of NAV

  1. Equity & Equity related securities
    Allowed65–90%
  2. Debt Instruments such as CDs, government securities with maturities up to 1 year, TREPS/ Repo in government securities, Mutual Fund units of liquid, money market or schemes having Macaulay Duration less than 1 year
    Allowed10–35%
  3. Equity & Equity related securities
    Allowed0–65%
  4. Debt Instruments such as CDs, government securities with maturities up to 1 year, TREPS/ Repo in government securities, Mutual Fund units of liquid, money market or schemes having Macaulay Duration less than 1 year
    Allowed35–100%

Holds in Sept 2026.71.1% equity · 28.9% debt and cash

How to invest(31 Jul 2026)

Buying

To start
₹500, then in multiples of ₹1
To add
₹500, then in multiples of ₹1
SIP how often
Daily,Weekly,Fortnightly,Monthly,Quarterly
SIP dates
Daily = Daily (only business days) Weekly = Anyday (Monday to Friday)* Fortnightly = 1st and 16th day of each month as applicable Monthly = Any day* Quarterly = Any day* *In case the date chosen for SIP falls on a Non-Business Day or on a date which is not available in a particular month, the SIP will beprocessed on the immediate next Business Day.
SIP minimum
Daily,Weekly,Fortnightly,Monthly = Rs. 500 Quarterly = Rs. 5,000, then re. 1/-
SIP instalments
Daily,Weekly,Fortnightly,Monthly = 6 Quarterly = 4

Selling and switching

To redeem
Any amount
Switch minimum
₹500
Switch multiples
Any amount
STP how often
Daily,Weekly,Fortnightly,Monthly,Quarterly
STP dates
Daily = Daily (only business days) Weekly = Anyday (Monday to Friday)* Fortnightly = 1st and 16th day of each month as applicable Monthly = Any day* Quarterly = Any day* *In case the date chosen for STP falls on a non-business day or on a day which is not available in a particular month, the STP will be processed on the immediate next business day.
STP minimum
Monthly, Weekly, Fortnightly, Quarterly = Rs. 1,000 Daily = Rs. 250, then re. 1/-
STP instalments
Daily,Weekly,Fortnightly,Monthly = 6 Quarterly = 4
SWP how often
Monthly,Quarterly, Half Yearly,Annual
SWP dates
Monthly = Any day* Quarterly= Any day* Half Yearly = Any day* Annual = Any day* *In case none of the frequencies has been selected then Monthly frequency shall be considered as the Default frequency and where no withdrawal date is selected, 1st business day of the month shall be considered as the default SWP date.
SWP minimum
Any amount
SWP instalments
Monthly,Quarterly, Half Yearly,Annual = 2

Scheme details(31 Jul 2026)

What it is

Category
Hybrid - Arbitrage Fund
Offer
8 Nov 2006 to 7 Dec 2006
Started
30 Dec 2006
Reopened
5 Jan 2007
Plans
ICICI Prudential Arbitrage Fund - Direct Plan - Growth · ICICI Prudential Arbitrage Fund - Direct Plan - IDCW · ICICI Prudential Arbitrage Fund - Growth · ICICI Prudential Arbitrage Fund - IDCW
Face value
₹10
Listed
No

How it is run

Swing pricing
No
Side-pocketing
Provisions for Segregated Portfolio have been added as as enabler
Custodian
Citibank N.A.,HDFC Bank Limited, HSBC and SBI-SG Global Securities Services Private Limited
Auditor
BSR & Co. LLP
Registrar
Computer Age Management Services Limited
SEBI code
ICIC/O/H/ARB/06/09/0029