ICICI Prudential Equity Arbitrage Fund

NAV Date 12-12-2019
Fund Name Category NAV NAV Change 1 year %
ICICI Pru Balanced Advantage Fund(G) Hybrid - Equity Oriented 37.59 0.1000 10.79
ICICI Pru Bluechip Fund(G) Equity - Large Cap 43.67 0.1900 09.86
ICICI Pru Equity & Debt Fund(G) Hybrid - Equity Oriented 136.9 0.8500 09.11
ICICI Pru LT Equity Fund (Tax Saving)(D) Equity - Tax Saving 19.6 0.1000 06.07
ICICI Pru Midcap Fund(G) Equity - Mid Cap 93.15 0.5900 -00.72
ICICI Pru Multi-Asset Fund(G) Equity - Large Cap 270.64 1.5610 07.37
ICICI Pru Savings Fund(G) Debt - Liquid 380.07 0.0362 08.85
ICICI Pru Short Term Fund(G) Debt - Short Term Income 41.05 0.0021 09.61
ICICI Pru Value Discovery Fund(G) Equity - Large Cap 139.65 0.3800 00.85
ICICI Pru Child Care Fund-Gift Plan Hybrid - Equity Oriented 143.01 0.3000 08.01
ICICI Pru Child Care Fund-Gift Plan-Direct Plan Hybrid - Equity Oriented 151.05 0.3200 08.92
ICICI Pru Equity & Debt Fund(G)-Direct Plan Hybrid - Equity Oriented 147.27 0.9200 09.85
ICICI Pru FMCG Fund(G) Equity - FMCG 245.59 0.8400 05.43
ICICI Pru FMCG Fund(G)-Direct Plan Equity - FMCG 258.71 0.8900 06.53
ICICI Pru Floating Interest Fund(B) Debt - Ultra Short Term 148.65 0.0182 08.54
ICICI Pru Floating Interest Fund(D) Debt - Ultra Short Term 148.6 0.0181 08.50
ICICI Pru Floating Interest Fund(D)-Direct Plan Debt - Ultra Short Term 152.37 0.0217 09.72
ICICI Pru Floating Interest Fund(DP) Debt - Ultra Short Term 148.6 0.0181 08.50
ICICI Pru Floating Interest Fund(DP)-Direct Plan Debt - Ultra Short Term 152.37 0.0217 09.72
ICICI Pru Floating Interest Fund(G) Debt - Ultra Short Term 294.28 0.0360 08.50
ICICI Pru Floating Interest Fund(G)-Direct Plan Debt - Ultra Short Term 309.44 0.0441 09.35
ICICI Pru Floating Interest Fund-Option A(G) Debt - Ultra Short Term 294.63 0.0361 08.51
ICICI Pru Floating Interest Fund-Option B(G) Debt - Ultra Short Term 318.13 0.0390 08.51
ICICI Pru LT Equity Fund (Tax Saving)(G)-Direct Plan Equity - Tax Saving 408.67 1.9900 08.98
ICICI Pru Large & Mid Cap Fund(G) Equity - Large Cap 325.21 1.8900 05.23
ICICI Pru Large & Mid Cap Fund(G)-Direct Plan Equity - Large Cap 346.88 2.0200 06.13
ICICI Pru Liquid Fund(B)-Direct Plan Debt - Liquid 146.1 0.0210 06.80
ICICI Pru Liquid Fund(D) Debt - Liquid 145.31 0.0206 06.72
ICICI Pru Liquid Fund(D)-Direct Plan Debt - Liquid 145.75 0.0209 06.80
ICICI Pru Liquid Fund(DP)-Direct Plan Debt - Liquid 145.75 0.0209 06.80
ICICI Pru Liquid Fund(G) Debt - Liquid 287.66 0.0406 06.72
ICICI Pru Liquid Fund(G)-Direct Plan Debt - Liquid 288.84 0.0414 06.80
ICICI Pru Liquid Fund-Inst(G) Debt - Liquid 453.43 0.0599 06.34
ICICI Pru Liquid Fund-Inst-1(G) Debt - Liquid 270.2 0.0365 06.43
ICICI Pru Liquid Fund-Ret(G) Debt - Liquid 442.1 0.0585 06.34
ICICI Pru Money Market Fund(B)-Direct Plan Debt - Liquid 147.58 0.0225 08.26
ICICI Pru Money Market Fund(G) Debt - Liquid 272.76 0.0405 08.12
ICICI Pru Money Market Fund(G)-Direct Plan Debt - Liquid 274.4 0.0417 08.25
ICICI Pru Money Market-Ret(G) Debt - Liquid 299.83 0.0418 07.77
ICICI Pru Multi-Asset Fund(G)-Direct Plan Equity - Large Cap 286.67 1.6598 08.17
ICICI Pru Multicap Fund(G) Equity - Multi Cap 291.75 1.8500 05.56
ICICI Pru Multicap Fund(G)-Direct Plan Equity - Multi Cap 309.94 1.9700 06.58
ICICI Pru Savings Fund(B) Debt - Ultra Short Term 151.63 0.0145 08.85
ICICI Pru Savings Fund(D) Debt - Ultra Short Term 151.87 0.0145 08.85
ICICI Pru Savings Fund(D)-Direct Plan Debt - Ultra Short Term 153.25 0.0150 08.98
ICICI Pru Savings Fund(DP)-Direct Plan Debt - Ultra Short Term 153.25 0.0150 08.98
ICICI Pru Savings Fund(G)-Direct Plan Debt - Ultra Short Term 382.93 0.0374 08.98
ICICI Pru Savings Fund-Ret(G) Debt - Ultra Short Term 215.88 0.0163 08.06
ICICI Pru Sensex ETF Equity - ETF 431.94 1.7984 14.59
ICICI Pru Value Discovery Fund(G)-Direct Plan Equity - Multi Cap 148.88 0.4100 01.49
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This is an equity fund that aims at generating income over a short term while providing investors with tax benefits. It features no entry loads except when it is invested in through distributors and also comes with systematic investment and withdrawal plans. Investments in this fund can be made at any time since it is an open-ended fund. While it is primarily an equity fund, it does make investments in the debt markets also and allows investments to begin with as little as Rs. 1,000 through the SIP.

Type or nature of fund

This is an open-ended equity fund.

Investment objective

The objective of this fund is short term income generation through investment in short term debt instruments with short maturity periods along with equity investments. It also aims at providing returns that are not as volatile as other fund returns.

Fund information

Inception date 30 December 2006
CRISIL rank This product has not been rated by CRISIL
Plans Regular and Direct
Options Growth, Bonus and Dividend
Schemes

•ICICI Prudential Equity - Arbitrage Fund - Inst. Growth

•ICICI Prudential Equity Arbitrage Fund - Direct Plan - Dividend

•ICICI Prudential Equity Arbitrage Fund - Direct Plan - Growth

•ICICI Prudential Equity Arbitrage Fund - Direct Plan Bonus

•ICICI Prudential Equity Arbitrage Fund - Regular Plan - Dividend

•ICICI Prudential Equity Arbitrage Fund - Regular Plan - Growth

•ICICI Prudential Equity Arbitrage Fund - Regular Plan Bonus

Entry load Nil. If the investments are made through distributors then investors may have to pay them a commission.
Exit load If investments are withdrawn within 1 month of allotment then the exit load is 0.25% of the applicable NAV.
Minimum investment

•For fresh investments Rs. 5,000

•For additional investments Rs. 1,000

SIP

•Rs. 1,000 for monthly SIP with 5 post dated cheques.

•Rs. 5,000 for quarterly investments with 3 post dated cheques.

Product label

•The risk factor for this fund is Moderate.

•It is aimed at the those looking for short term income generation. Such investors can be high net worth individuals, corporate treasuries and retired individuals.

Benchmark

CNX Nifty

CNX Nifty, also known as Nifty, is a free float market capitalisation weighted index that is used by the NSE as a benchmark for equities.

SWP The minimum SWP amount can be Rs. 500 with increments in multiples of Re 1.
STP Available
Redemption The minimum amount that can be redeemed is Rs. 500.

Fund manager(s)

Kayzad Eghlim (Equity)

  • Education: BCOM and MCOM
  • Past experience:
    • Vice President (Head – Dealing) - ICICI Prudential AMC Ltd
    • Associate Vice President (Dealer)– ICICI Prudential AMC Ltd
    • Dealer – IDFC Investment Advisors Ltd.
    • Manager - Prime Securities
    • Canbank Mutual Fund
  • Other funds managed
    • ICICI Prudential Index Fund
    • ICICI Prudential Nifty Junior Index Fund
    • SENSEX Prudential ICICI Exchange Traded Fund
    • ICICI Prudential Blended Plan A - Equity Portion
    • ICICI Prudential Blended Plan B - Equity Portion
    • ICICI Prudential Nifty ETF
    • ICICI Prudential CNX 100 ETF

Manish Banthia (Debt)

  • Education: B.COM, CA and MBA
  • Past experience:
    • Aditya Birla Nuvo Ltd.
    • Aditya Birla Management Corporation Ltd.
  • Other funds managed
    • ICICI Prudential Balanced Advantage Fund – Debt Portion
    • ICICI Prudential Short Term Plan
    • ICICI Prudential Blended Plan A – Debt Portion
    • ICICI Prudential Long Term Plan
    • ICICI Prudential Gold Exchange Traded Fund
    • ICICI Prudential Regular Gold Savings Fund
    • ICICI Prudential Child Care Plan – Study Plan – Debt portion
    • ICICI Prudential Child Care Plan – Gift Plan – Debt portion
    • ICICI Prudential Monthly Income Plan – Debt Portion
    • ICICI Prudential MIP 25 – Debt portion
    • ICICI Prudential Income Opportunities Fund
    • ICICI Prudential Income Plan
    • ICICI Prudential Balanced Fund – Debt Portion
    • ICICI Prudential Gilt Fund Investment Plan PF Option
    • ICICI Prudential Equity Income Fund – Debt portion

Investment philosophy or strategy

The investment philosophy followed by this fund is to focus on large cap stocks for equity investments. It also employs cash and index arbitrage strategies to identify investments in equity derivatives. For the debt markets the strategy followed is based on risk vs rewards and allows the managers to expose as much as 35% to the debt market.

Portfolio (As of June 2015)

Company/Sector Investment
Debt Holdings 40.82%
Cash, Call, CBLO & Term Deposits 26.85%
CPs and CDs

•Export-Import Bank Of India ICRA A1+ 7.33%

•Indiabulls Housing Finance Ltd. CRISIL A1+ 2.95%

•India Infoline Finance Ltd. ICRA A1+ 0.74%

11.02%
Banks

•ICICI Bank Ltd. 3.59%

•ICICI Bank Ltd. Futures -3.61%

•HDFC Bank Ltd. 2.43%

•HDFC Bank Ltd. Futures -2.43%

•Axis Bank Ltd. 2.18%

•Axis Bank Ltd. Futures -2.17%

•State Bank Of India 0.55%

•State Bank Of India Futures -0.55%

•Yes Bank Ltd. 0.42%

•Yes Bank Ltd. Futures -0.42%

•Union Bank Of India 0.16%

(These are the top holding from the sector)

9.55%
Auto

•Maruti Suzuki India Ltd. 3.23%

•Maruti Suzuki India Ltd. - Futures -3.24%

•Mahindra & Mahindra Ltd. 2.71%

•Mahindra & Mahindra Ltd. - Futures -2.69%

•Hero Motocorp Ltd. 0.74%

•Hero Motocorp Ltd. - Futures -0.74%

•Bajaj Auto Ltd. 0.59%

•Bajaj Auto Ltd. - Futures -0.58%

•Eicher Motors Ltd. 0.36%

(These are the top holdings form this sector)

7.82%
Finance

•HDFC Ltd. 3.28%

•HDFC Ltd. - Futures -3.27%

•IDFC Ltd. 2.18%

•IDFC Ltd. - Futures -2.14%

•Reliance Capital Ltd. 1.15%

•Reliance Capital Ltd. - Futures -1.16%

•LIC Housing Finance Ltd. 0.65%

•LIC Housing Finance Ltd. - Futures -0.66%

(These are the top holdings form this sector)

7.38%
Pharmaceuticals

•Sun Pharmaceutical Industries Ltd. 2.20%

•Sun Pharmaceutical Industries Ltd. - Futures -2.21%

•Lupin Ltd. 2.00%

•Lupin Ltd. - Futures -2.00%

•Strides Arcolab Ltd. 1.37%

•Strides Arcolab Ltd. - Futures -1.37%

•Aurobindo Pharma Ltd. 0.72%

(These are the top holdings form this sector)

7.30%
Software

•Infosys Ltd. 2.36%

•Infosys Ltd. - Futures -2.37%

•HCL Technologies Ltd. 1.47%

•HCL Technologies Ltd. - Futures -1.47%

•Wipro Ltd. 1.36%

•Wipro Ltd. - Futures -1.34%

•Tata Consultancy Services Ltd. 0.38%

•Tata Consultancy Services Ltd. - Futures -0.38%

•Hexaware Technologies Ltd. 0.12%

•Hexaware Technologies Ltd. - Futures -0.12%

•Oracle Financial Services Software Ltd. 0.01%

•Oracle Financial Services Software Ltd. - Futures -0.01%

5.69%
Oil

•Oil & Natural Gas Corporation Ltd. 2.19%

•Oil & Natural Gas Corporation Ltd. - Futures -2.20%

•Cairn India Ltd. 1.64%

•Cairn India Ltd. - Futures -1.61%

3.83%
Petroleum Products

•Reliance Industries Ltd. 2.91%

•Reliance Industries Ltd. - Futures -2.92%

•Indian Oil Corporation Ltd. 0.46%

•Indian Oil Corporation Ltd. - Futures -0.46%

•Hindustan Petroleum Corporation Ltd. 0.07%

•Hindustan Petroleum Corporation Ltd. - Futures -0.07%

3.44%

Risk measures

Sharpe ratio 2.28
Alpha  
Portfolio beta 0.17
Std deviation 0.54% (annual)

Performance

AUM Rs. 2245.67 crores (As of June 30, 2015)
NAV (As of June 30, 2015)

•Regular Plan Growth Option: Rs. 19.5263

•Regular Plan Dividend Option: Rs. 13.8437

•Direct Plan Growth Option: Rs. 19.7613

•Direct Plan Dividend Option: Rs. 14.617

Expense ratio

•ICICI Prudential Equity Arbitrage Fund Direct Plan - 0.6

•ICICI Prudential Equity Arbitrage Fund Regular Plan - 0.73

Returns

  2014-2015 (Absolute Returns) 2013-2014 (Absolute Returns) 2012-2013 (Absolute Returns) Compound Annual Growth Rate (Since Inception)
Scheme 8.49% 9.54% 9.83% 8.19%
NIFTY 9.95% 30.28% 10.67% 9.18%
NAV (in Rs.) 17.9976 16.43 14.96 -

If Rs. 10, 000 had been invested in this fund when it was first introduces, it would have grown to Rs. 19,526.3 in the scheme as compared to the growth to Rs. 21,098.48 in it benchmark, assuming that the NAV is Rs. 10.

Expert view of the fund

The Equity Arbitrage fund is a mutual fund that presents investors with moderate risk to their investments. It provides returns through investments in debt and equity markets while providing the fund managers with the freedom to decide on the exposure of the capital to each market. Its performance has been consistent but slightly under that of its benchmark except in 2014-14 when it underperformed its benchmark by about 20%.

How to apply

There are two options available for investment in this fund. The first is the offline option where investors can approach ICICI Mutual Fund distributors or the ICICI Prudential branch to seek help with understanding the fund and investing in it. They can also get help with the forms that need to be filled and the documents that are needed to initiate the investment.

The other option for investment is the online one where both new and existing investors can log into their accounts on the ICICI Prudential website and pick this fund to initiate investments. The investments can either be done in lump sums or as SIPs and the payments can be made via NEFT/RTGS transfers, demand drafts, cheques or debit cards.

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