Fundalysisby DARKHORSESTOCKS

Scheme

Parag Parikh Arbitrage Fund

Holds 75 companies worth ₹1,858 Cr in Sept 2026.

  • Fund house

    PPFASThe fund house that runs this scheme.

  • AUM

    ₹2,750 CrParag Parikh Arbitrage Fund's AUM at the end of 30 Sept 2026, as AMFI reports it. Down 1.8% on Aug 2026, ₹2,799 Cr.

  • Largest holding

    HDFC BankHDFC Bank is 6.4% of this scheme's NAV.

  • Fund manager

    Raj MehtaRuns it since 2 Nov 2023, as the fund house dates it. With Rajeev Thakkar (fund manager), Raunak Onkar (fund manager), Rukun Tarachandani (fund manager), Aishwarya Dhar (fund manager), Tejas Soman (fund manager).

Overview(8 Sept 2026)

Fund managers6

  1. Raj MehtaFund manager, equity · Nov 2023 · 13y · CA CFA M.Com B.Com
  2. Rajeev ThakkarFund manager · Nov 2023 · 25y · CA CFA CMA B.Com
  3. Raunak OnkarFund manager · Nov 2023 · 14y · MMS
  4. Rukun TarachandaniFund manager · Nov 2023 · 11y · CFA B.Tech
  5. Aishwarya DharFund manager, debt · Sept 2025 · 14y · MBA
  6. Tejas SomanFund manager · Sept 2025 · 13y

    Key facts

    Benchmark
    NIFTY 50 Arbitrage Total Return Index (TRI)
    Risk
    Low
    Expense
    Regular 1.39% · Direct 0.99%
    Exit load
    0.25% within 30 days
    Started
    2 Nov 2023
    Minimum
    ₹1,000

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

    What changed(41 changes)

    Sept 2026

    1 change
    1. Expense ratio
      8 SeptRegular 0.62% → 1.39%Direct 0.22% → 0.99%

    Jun 2026

    9 changes

    May 2026

    15 changes

    Source.Its filings at NSE, since Jan 2025.

    Fund managers over time(Nov 2023 – now)

    1. Raj Mehta
    2. Rajeev Thakkar
    3. Raunak Onkar
    4. Rukun Tarachandani
    5. Aishwarya Dhar
    6. Tejas Soman
    7. Mansi Kariya
    MainCoSlice202420252026
    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(Jan 2025 – Sept 2026)

    Every change to the expense ratio, newest first.
    39 changesRegularDirectΔ pt
    8 Sept 20261.39%0.99%0.77
    21 Jun 20260.62%0.22%0
    18 Jun 20260.61%0.22%0.92
    17 Jun 20261.52%1.14%0.53
    16 Jun 20260.99%0.61%0.13
    10 Jun 20260.87%0.48%0
    8 Jun 20260.86%0.48%0.26
    7 Jun 20260.61%0.22%1.45
    3 Jun 20262.06%1.67%1.30
    1 Jun 20260.75%0.37%0.15
    28 May 20260.60%0.22%0.15
    26 May 20260.76%0.37%0.87
    25 May 20261.63%1.24%1.02
    24 May 20260.60%0.22%2.35
    21 May 20262.95%2.57%0.32
    20 May 20263.27%2.89%1.07
    19 May 20264.34%3.96%2.20
    18 May 20262.15%1.76%1.21
    17 May 20260.94%0.55%0.36
    13 May 20261.29%0.91%0.62
    11 May 20260.67%0.29%0.62
    7 May 20261.30%0.91%0.55
    6 May 20260.74%0.36%0.14
    4 May 20260.60%0.22%1.05
    3 May 20261.66%1.27%0.60
    28 Apr 20262.26%1.87%1.05
    27 Apr 20261.21%0.82%0.60
    26 Apr 20260.60%0.22%3.89
    23 Apr 20264.49%4.11%0.01
    22 Apr 20264.48%4.10%2.64
    20 Apr 20261.84%1.46%1.22
    6 Apr 20260.63%0.24%0.05
    3 Mar 20260.64%0.29%0.01
    24 Oct 20250.65%0.30%0.01
    23 Jun 20250.64%0.29%0.02
    24 May 20250.66%0.31%0.01
    8 May 20250.65%0.30%0.01
    2 Apr 20250.64%0.29%0.02
    14 Jan 20250.66%0.31%–
    Direct plan, 8 Sept 2026
    0.99%
    Regular plan 1.39% · Exit load 0.25% within 30 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(8 Sept 2026)

    Objective

    The investment objective of the scheme is to generate capital appreciation and income by predominantly investing in arbitrage opportunities in the cash and derivatives segment of the equity market, and by investing the balance in debt and money market instruments. However, there is no assurance that the investment objective of the Scheme will be realized and the Scheme does not assure or guarantee any returns.

    Risk, type and benchmark

    Riskometer
    Low
    At launch
    Low
    Type
    An open ended scheme investing in arbitrage opportunities. No investment in InvITs permitted.
    Benchmark
    NIFTY 50 Arbitrage Total Return Index (TRI)

    Asset allocation it may hold% of NAV

    1. Equities & Equity derivatives (Equity Hedged exposure)
      Allowed65–100%Holds67.5%
    2. Certificate of Deposits and Government securities with maturities upto 1 year, Units of Domestic mutual fund schemes and Overnight debt securities, Gold and Silver ETFs/ ETCDs
      Allowed0–35%

    Holds in Sept 2026.67.5% equity · 32.5% debt and cash

    How to invest(8 Sept 2026)

    Buying

    To start
    ₹1,000, then in multiples of ₹1
    To add
    ₹1,000, then in multiples of ₹1
    Systematic
    SIP - Monthly/Quarterly, SWP - Monthly, STP -Daily/Weekly/Fortnightly/Monthly/Quarterly
    Dates
    SIP - Any date within Month or Quarter (up to a maximum of 6 dates per application); SWP - 1st, 5th,10th, 15th, 20th and 25th of the month; STP - Daily- On all days between Monday to Friday, Weekly-Any day of the week, Fortnightly-Any date within 15 days, Monthly-- Any date within Month (up to a maximum of 6 dates per application) and Quarterly-Any date within Quarter (up to a maximum of 6 dates per application). (Please refer Scheme Information Document of the scheme for more details)
    Minimum
    SIP - Monthly: 1000 /Quarterly : 3000, SWP - Monthly : 1000, STP -Daily/Weekly/Monthly: 1000 Fortnightly:1500 /Quarterly : 3000, then sIP - 1, SWP - 1, STP - 1
    Instalments
    SIP - Monthly - 6; Quarterly - 4, SWP - Monthly - 12, STP - Daily/ Weekly/Monthly-6; Fortnightly / Quarterly - 4

    Selling and switching

    To redeem
    Rs. 1000 or account balance whichever is lower in respect of each option. or 1 Unit units
    Switch minimum
    Minimum Switch in - Rs. 1000 and in multiples of Re. 1 thereafter Minimum Switch Out -Rs. 1000 or account balance whichever is lower in respect of each option. or Minimum Switch in: Nil (No such requirement for switch in unit as per Scheme Information Document (SID) of the scheme) Minimum Switch out : 1 Unit units
    Switch multiples
    ₹1

    Scheme details(8 Sept 2026)

    What it is

    Category
    Arbitrage Fund
    Offer
    23 Oct 2023 to 27 Oct 2023
    Started
    2 Nov 2023
    Reopened
    3 Nov 2023
    Plans
    Regular Plan - Growth Option · Direct Plan - Growth Option
    Face value
    ₹10
    Listed
    No

    How it is run

    Swing pricing
    No
    Side-pocketing
    No
    Custodian
    Deutsche Bank AG
    Auditor
    M. M. Nissim & Co. LLP (Statutory Auditor)
    Registrar
    Computer Age Management Services Limited (CAMS)
    SEBI code
    PPFA/O/H/ARB/23/09/0005