Fundalysisby DARKHORSESTOCKS

Scheme

Nippon India Arbitrage Fund

Holds 162 companies worth ₹11,709 Cr in Sept 2026.

  • Fund house

    NipponThe fund house that runs this scheme.

  • AUM

    ₹17,216 CrNippon India Arbitrage Fund's AUM at the end of 30 Sept 2026, as AMFI reports it. Down 1.8% on Aug 2026, ₹17,533 Cr.

  • Largest holding

    Reliance IndustriesReliance Industries is 4.8% of this scheme's NAV.

  • Fund manager

    Rohit Hashmukh ShahRuns it since 1 Apr 2024, as the fund house dates it. With Vikash Agarwal (fund manager), Nemish Sheth (fund manager).

Overview(8 Oct 2026)

Fund managers3

  1. Rohit Hashmukh ShahFund manager · Apr 2024 · 15y · CA FRM
  2. Vikash AgarwalFund manager · Sept 2024 · 20y · CA B.Com
  3. Nemish ShethFund manager · Mar 2025 · 17y · PGDM
  1. Siddharth DebSept 2024 – May 2025
  2. Anand Devendra GuptaSept 2018 – Dec 2024
  3. Anju ChhajerFeb 2020 – Sept 2024

Key facts

Benchmark
NIFTY 50 Arbitrage Index
Risk
Low
Expense
Regular 2.03% · Direct 1.34%
Exit load
0.25% if redeemed or switched out on or before completion of 15 days from the date of allotment of units. Nil, thereafter.
Started
14 Oct 2010
Minimum
₹5,000

Source.Its Scheme Summary Document as of 8 Oct 2026 at AMFI.

What changed(22 changes)

Oct 2026

1 change
  1. Expense ratio
    8 OctRegular 2.06% → 2.03%Direct 1.37% → 1.34%

Jul 2026

1 change
  1. Expense ratio
    9 JulRegular 1.17% → 2.06%Direct 0.47% → 1.37%

Jun 2026

2 changes
  1. Expense ratio
    9 JunRegular 1.35% → 1.17%Direct 0.66% → 0.47%
  2. Riskometer
    9 JunLow to Moderate → Low

Source.Its filings at NSE, since Aug 2024.

Fund managers over time(Sept 2018 – now)

  1. Rohit Hashmukh Shah
  2. Vikash Agarwal
  3. Nemish Sheth
  4. Siddharth Deb
  5. Anand Devendra Gupta
  6. Anju Chhajer
MainCoSlice20192020202120222023202420252026
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.
14 changesRegularDirectΔ pt
8 Oct 20262.03%1.34%0.03
9 Jul 20262.06%1.37%0.90
9 Jun 20261.17%0.47%0.19
7 May 20261.35%0.66%1.22
9 Apr 20262.57%1.88%1.56
9 Mar 20261.02%0.32%0.01
9 Feb 20261.03%0.33%0.05
8 Jan 20261.08%0.38%0
10 Nov 20251.06%0.38%0
10 May 20251.07%0.38%0.02
10 Apr 20251.05%0.36%0.02
10 Jan 20251.07%0.38%0.01
11 Nov 20241.08%0.39%0.01
20 Aug 20241.07%0.38%–
Direct plan, 8 Oct 2026
1.34%
Regular plan 2.03% · Exit load 0.25% if redeemed or switched out on or before completion of 15 days from the date of allotment of units. Nil, thereafter.
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(8 Oct 2026)

Objective

The investment objective of the scheme is to generate income by taking advantage of the arbitrage opportunities that potentially exists between cash and derivative market and within the derivative segment along with investments in debt securities & money market instruments. There is no assurance that the investment objective of the Scheme will be achieved

Risk, type and benchmark

Riskometer
Low
Type
An open ended scheme investing in arbitrage opportunities. No investment in InvITs is permitted.
Benchmark
NIFTY 50 Arbitrage Index

Asset allocation it may hold% of NAV

  1. Equities and equity related instruments, Derivatives including index futures, stock futures, index options, & stock options, etc
    Allowed65–90%
  2. Debt and Money market instruments (including investments in securitized debt upto 30%)
    Allowed10–35%
  3. Equities and equity related instruments, Derivatives including index futures, stock futures, index options, & stock options, etc. (Only arbitrage opportunities)
    Allowed0–65%
  4. Debt and Money market instruments (including investments in securitized debt upto 30%)
    Allowed10–35%

Holds in Sept 2026.68.0% equity · 32.0% debt and cash

How to invest(8 Oct 2026)

Buying

To start
₹5,000, then in multiples of ₹1
To add
₹1,000, then in multiples of ₹1
Most
Any
Systematic
SIP - Monthly, Quarterly, Yearly SWP - Monthly / Quarterly / Half yearly / Yearly STP - Daily/ Weekly/ Fortnightly/ Monthly / Quarterly
Dates
SIP - 1st to 31st of a month SWP - 1st, 8th, 15th, 22nd transaction day (if holiday, then next working day) STP - 1st to 28th of a month
Minimum
SIP - Rs.100/- per month (minimum 60 months) Rs.500/- per month (minimum 12 months) Rs.1000/- per month (minimum 6 months) Rs. 500/- per quarter (minimum 12 quarters) Rs.1500/- per quarter (minimum 4 quarters) Rs. 5000/- per year (minimum 2 years) SWP - 500 STP - Daily- Minimum of Rs. 100 Weekly / Fortnight / Monthly option - Rs. 1000 Quarterly - Rs. 3000 Capital Appreciation Monthly/ Quarterly - Rs. 500, then sIP - Rs. 500 if SIP amount is 5,000 per year & Rs. 1 for any other amount SWP - 1 STP - 1
Instalments
SIP - 60 months for Rs. 100 per month 12 months for Rs. 500 per month 6 months for Rs. 1,000 per month 12 quarters for Rs. 500 per quarter 4 quarters for Rs. 1500 per quarter 2 years for Rs. 5000 per Year SWP - 2 STP - 2
Most
SIP - Any SWP - Any STP - Any

Selling and switching

To redeem
₹100 or Any units
Switch minimum
₹5,000

Scheme details(8 Oct 2026)

What it is

Category
Hybrid: Arbitrage Fund
Offer
24 Sept 2010 to 8 Oct 2010
Started
14 Oct 2010
Reopened
20 Oct 2010
Plans
Direct Plan IDCW Plan Payout · Direct Plan IDCW Plan Reinvestment · Direct Growth Plan Growth Option Growth · Direct Monthly IDCW Plan Payout · Direct Monthly IDCW Plan Reinvestment · IDCW Plan Payout · IDCW Plan Reinvestment · Growth Plan Growth · Monthly IDCW Plan Payout · Monthly IDCW Plan Reinvestment
Face value
₹10
Listed
No

How it is run

Swing pricing
No
Side-pocketing
No
Custodian
Deutsche Bank
Auditor
Walker Chandiok & Co LLP
Registrar
KFin Technologies Limited
SEBI code
NIMF/O/H/ARB/10/03/0043