Fundalysisby DARKHORSESTOCKS

Scheme

Union Arbitrage Fund

Holds 68 companies worth ₹163 Cr in Aug 2026.

  • Fund house

    UnionThe fund house that runs this scheme.

  • AUM

    ₹220 CrUnion Arbitrage Fund's AUM at the end of 30 Sept 2026, as AMFI reports it. Down 0.4% on Aug 2026, ₹221 Cr.

  • Largest holding

    Patanjali Foods LimitedPatanjali Foods Limited is 4.5% of this scheme's NAV.

  • Fund manager

    Devesh ThackerRuns its co-manager part since 20 Feb 2019, as the fund house dates it. With Vishal Thakker (co-manager).

Overview(6 Oct 2026)

Fund managers2

  1. Devesh ThackerCo-manager · Feb 2019 · 26y · MBA B.Com
  2. Vishal ThakkerCo-manager · Feb 2019 · 15y

    Key facts

    Benchmark
    NIFTY 50 Arbitrage Index# #Benchmark Disclaimer: The “Product” offered by “the issuer” is not sponsored, endorsed, sold or promoted by NSE Indices Limited (Formerly Indian Index Services & Products Limited) (IISL). NSE Indices Limited does not make any representation or warranty, express or implied (including warranties of merchantability or fitness for particular purpose or use) and disclaims all liability to the owners of “the Product” or any member of the public regarding the advisability of investing in securities generally or in the “the Product” linked to NIFTY 50 Arbitrage Indexor particularly in the ability of the NIFTY 50 Arbitrage Index, to track general stock market performance in India. Please read the full Disclaimer in relation to the NIFTY 50 Arbitrage Index in the Scheme Information Document.
    Risk
    Low Risk.
    Expense
    Regular 2.23% · Direct 1.61%
    Exit load
    0.25% if units are redeemed or switched out on or before completion of 1 month from the date of allotment of units. Nil if units are redeemed or switched out after completion of 1 month from the date of allotment of units
    Started
    20 Feb 2019
    Minimum
    ₹1,000

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

    What changed(33 changes)

    Oct 2026

    1 change
    1. Expense ratio
      5 OctRegular 2.17% → 2.23%Direct 1.55% → 1.61%

    Sept 2026

    2 changes

    Aug 2026

    1 change
    1. Expense ratio
      2 AugRegular 2.01% → 2.14%Direct 1.39% → 1.52%

    Source.Its filings at NSE, since Aug 2024.

    Fund managers over time(Feb 2019 – now)

    1. Devesh Thacker
    2. Vishal Thakker
    MainCoSlice2020202120222023202420252026
    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.
    34 changesRegularDirectΔ pt
    5 Oct 20262.23%1.61%0.06
    15 Sept 20262.17%1.55%0.01
    6 Sept 20262.16%1.54%0.02
    2 Aug 20262.14%1.52%0.13
    6 Jul 20262.01%1.39%0.13
    18 Jun 20261.88%1.26%0.87
    14 Jun 20261.01%0.39%0.18
    8 Jun 20261.19%0.57%1.37
    1 Jun 20262.57%1.94%1.55
    24 May 20261.00%0.39%0.85
    18 May 20261.85%1.24%0.29
    12 May 20261.57%0.95%0.34
    11 May 20261.22%0.61%0.24
    5 May 20260.98%0.37%2.54
    28 Apr 20263.51%2.91%2.53
    26 Apr 20260.99%0.38%7.25
    22 Apr 20268.26%7.63%6.76
    16 Apr 20261.49%0.87%0.30
    9 Apr 20261.18%0.57%1.16
    7 Apr 20262.34%1.73%1.36
    19 Mar 20260.98%0.37%0.01
    16 Mar 20260.97%0.38%0.02
    26 Feb 20260.97%0.36%0.02
    15 Feb 20260.99%0.38%0.01
    13 Jan 20261.00%0.39%0.14
    12 Aug 20251.09%0.53%0.07
    2 Apr 20251.07%0.46%0.01
    16 Mar 20251.06%0.45%0.03
    24 Feb 20250.99%0.42%0.04
    7 Feb 20250.95%0.38%0.03
    2 Jan 20250.98%0.41%0
    11 Oct 20241.02%0.41%0.02
    23 Sept 20241.00%0.39%0.01
    23 Aug 20241.01%0.40%–
    Direct plan, 5 Oct 2026
    1.61%
    Regular plan 2.23% · Exit load 0.25% if units are redeemed or switched out on or before completion of 1 month from the date of allotment of units. Nil if units are redeemed or switched out after completion of 1 month from the date of allotment of units
    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 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 achieved.

    Risk, type and benchmark

    Type
    An open ended scheme investing in arbitrage opportunities. No investment in InvITs is permitted
    Benchmark
    NIFTY 50 Arbitrage Index# #Benchmark Disclaimer: The “Product” offered by “the issuer” is not sponsored, endorsed, sold or promoted by NSE Indices Limited (Formerly Indian Index Services & Products Limited) (IISL). NSE Indices Limited does not make any representation or warranty, express or implied (including warranties of merchantability or fitness for particular purpose or use) and disclaims all liability to the owners of “the Product” or any member of the public regarding the advisability of investing in securities generally or in the “the Product” linked to NIFTY 50 Arbitrage Indexor particularly in the ability of the NIFTY 50 Arbitrage Index, to track general stock market performance in India. Please read the full Disclaimer in relation to the NIFTY 50 Arbitrage Index in the Scheme Information Document.

    Asset allocation it may hold% of NAV

    1. Equity and Equity related instruments (as part of hedged / arbitrage exposure)
      Allowed65–90%Holds74.0%
    2. Debt and Money Market Instruments including margin money deployed for derivatives transactions
      Allowed10–35%Holds26.0%

    Holds in Aug 2026.74.0% equity · 26.0% debt and cash

    How to invest(6 Oct 2026)

    Buying

    To start
    ₹1,000, then in multiples of ₹1
    To add
    ₹1,000, then in multiples of ₹1
    Systematic
    SIP - Daily, Weekly, Fortnightly and Monthly, STP - Daily, Weekly, Fortnightly, Monthly ,Quarterly and Half yearly SWP - Daily, Monthly ,Quarterly, Half yearly and Yearly
    Dates
    SIP - Daily (only business days) for Daily frequency, any date of the month for weekly, fortnightly and monthly frequency, STP - Daily (only business days) for Daily frequency, Monday to Friday for weekly frequency, Every Alternate Wednesday for fortnightly frequency and Any date of the month for monthly, quarterly and half yearly frequencySWP - Daily (Only Business days) for Daily Frequency and any date of the month for monthly, quarterly, half yearly and yearly frequency
    Minimum
    SIP - Rs. 100 for daily SIP, Rs. 500 for weekly SIP, Rs. 500 for fortnightly SIP, Rs. 500 for monthly SIP, STP - Rs. 100 for all frequencies SWP - Rs. 500 for all frequencies, then sIP - Rs. 1 thereof for all frequencies STP - Rs. 1 thereof for all frequencies SWP - Rs. 1 thereof for all frequencies
    Instalments
    SIP - 6 instalments for all frequencies, STP - 6 instalments for all frequencies SWP - 6 instalments for all frequencies
    Most
    SIP - Not applicable STP - Not applicable SWP - Not applicable

    Selling and switching

    To redeem
    ₹1,000 or Units equivalent of Rs. 1000 and in multiple of Rs. 1 thereof units
    Switch minimum
    Switch in: Rs. 1000 Switch out: Rs. 1000 or Switch in: Units equivalent to Rs. 1000 Switch out: Units equivalent to Rs. 1000 units
    Switch multiples
    Switch in: Rs. 1 thereafter Switch out: Rs. 1 therafter or Switch in: Units equivalent to Rs. 1 Switch out: Units equivalent to Rs. 1 units

    Scheme details(6 Oct 2026)

    What it is

    Category
    Arbitrage Fund
    Offer
    30 Jan 2019 to 13 Feb 2019
    Started
    20 Feb 2019
    Reopened
    27 Feb 2019
    Plans
    Direct Plan - Growth Option, Direct Plan - Payout of Income Distribution cum Capital Withdrawal (IDCW) Option, Direct Plan - Reinvestment of IDCW Option, Direct Plan - Transfer of IDCW Plan · Regular Plan - Growth Option, Regular Plan - Payout of IDCW Option, Regular Plan - Reinvestment of IDCW Option, Regular Plan - Transfer of IDCW Plan
    Face value
    ₹10
    Listed
    The Scheme being an open ended Scheme it is not proposed to be listed on any stock exchange. However, the Trustee reserves the right to list the units of the Scheme on any stock exchange(s) at its sole discretion at a later date.

    How it is run

    Swing pricing
    No
    Side-pocketing
    Enabled but no segregated portfolio created
    Custodian
    SBI-SG Global Securities Services Private Limited
    Auditor
    M/s S.R Batliboi & Co. LLP
    Registrar
    Computer Age Management Services Limited (CAMS)
    SEBI code
    UNIN/O/H/ARB/18/12/0011