REITERATION OF OUR RECOMMENDATION OF ARBITRAGE SCHEMES
As discussed with you, these days when equity markets are going up, it is an ideal time to invest in Arbitrage schemes for following reasons:
1. Fund Managers get good opportunities to lock in decent arbitrage returns
2. Fund Managers are of the view that this is a bear market rally which will last till this month end & then correct once again in the month of April. This will give an opportunity to unwind when future goes into discount; thereby enhancing overall returns
3. There is negative correlation between Sensex & NAV of the arbitrage schemes i.e. when markets go up, NAV of arbitrage schemes go down & vice versa. This will be seen clearly from the following table of SENSEX movement v/s J M Arbitrage Advantage Scheme NAV movements:
|
DATE
|
NAV
|
CHANGE
|
SENSEX
|
CHANGE
|
|
02-Mar-09
|
12.4016
|
|
8607
|
|
|
03-Mar-09
|
12.3948
|
-0.055%
|
8427
|
-2.09%
|
|
04-Mar-09
|
12.3794
|
-0.124%
|
8446
|
0.23%
|
|
05-Mar-09
|
12.3937
|
0.116%
|
8198
|
-2.94%
|
|
06-Mar-09
|
12.3826
|
-0.090%
|
8326
|
1.56%
|
|
09-Mar-09
|
12.4035
|
0.169%
|
8160
|
-1.99%
|
|
12-Mar-09
|
12.3994
|
-0.033%
|
8344
|
2.25%
|
|
13-Mar-09
|
12.3950
|
-0.035%
|
8757
|
4.95%
|
|
16-Mar-09
|
12.3963
|
0.010%
|
8944
|
2.13%
|
|
17-Mar-09
|
12.4039
|
0.061%
|
8864
|
-0.89%
|
4. Returns in these schemes as on last F & O Settlement Date: 26-02-09:
|
Derivative Schemes (Growth Option)
|
Annualized Returns for period less than 1 year, CAGR for 1 year & above
|
|||||
|
Report As On: 26 Feb, 2009
|
AUM
|
NAV
|
1M
|
3M
|
6M
|
1Y
|
|
ARBRITRAGE SCHEMES
|
|
|
|
|
|
|
|
HDFC Arbitrage Fund – Retail – Growth
|
237.43
|
11.12
|
7.48
|
8.38
|
9.14
|
7.73
|
|
ICICI Prudential Blended Plan – Option A – Growth
|
91.28
|
13.47
|
6.21
|
8.72
|
9.26
|
7.70
|
|
ICICI Prudential Blended Plan – Option B – Growth
|
10.80
|
13.16
|
6.69
|
6.55
|
7.32
|
7.01
|
|
ICICI Prudential Equity & Derivatives Fund – I O – Retail – Growth
|
327.52
|
12.04
|
9.16
|
6.36
|
7.70
|
6.81
|
|
IDFC Arbitrage Fund – Plan A (Regular) – Growth
|
302.33
|
11.82
|
4.90
|
6.08
|
7.63
|
6.37
|
|
IDFC Arbitrage Plus Fund – Plan A – Growth
|
212.57
|
10.68
|
5.51
|
8.96
|
10.95
|
–
|
|
JM Arbitrage Advantage Fund – Growth
|
253.91
|
12.38
|
11.08
|
7.20
|
8.67
|
7.76
|
|
JM Equity & Derivative Fund – Growth
|
N.A.
|
13.0471 (29-Jan-09)
|
3.78
|
3.91
|
6.47
|
6.09
|
|
Kotak Equity Arbitrage Fund – Growth
|
173.19
|
13.03
|
10.25
|
9.18
|
9.09
|
7.43
|
|
Religare Arbitrage Fund – Growth
|
68.02
|
11.60
|
7.39
|
6.55
|
7.99
|
7.18
|
|
SBI Arbitrage Opportunities Fund - Growth
|
317.31
|
12.12
|
4.97
|
7.11
|
8.36
|
6.90
|
|
|
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|
** The Returns for Derivative Schemes are Absolute Returns for period less than 1 year, CAGR for 1 year and above.
|
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|
AUM and Maturity Data as on 31st Jan 2009
|
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Comments
Hi Sunil ,
You have also put JM equity & derivative fund in the comparision . The fund has been discontinued from the past 2 months . Its been converted into an index plus category as JM nifty plus fund.
you can remove it from your comparision .
regards
Biren
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