Capitalmind Arbitrage Fund Review: Plans, NAV, Returns and Portfolio Analysis 2026

August 4, 2026
Posted by: Ankit Jaiswal
Category: Mutual Funds

Capitalmind Arbitrage Fund has 4 plan/option variants. Representative NAV Rs 10.2057 (20-Jul-2026). Category Arbitrage Fund. Risk Low to Moderate.

Capitalmind Arbitrage Fund is a arbitrage fund offered by Capitalmind Mutual Fund, available in Direct and Regular Plans across IDCW, Growth. The scheme aims to generate returns by exploiting price differentials between the cash and derivatives segments of equity markets, with at least 65% invested in equity and equity related instruments via arbitrage positions, and the remainder in debt and money market instruments. With multiple variants, Capitalmind Arbitrage Fund lets investors choose between different cost structures and payout approaches within the same base scheme.

This article reviews Capitalmind Arbitrage Fund across all its available plans and options, covering the latest NAV, expense ratio, portfolio approach, performance, exit load and investor suitability, based on publicly available data as of August 2026.

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Table of Contents

Capitalmind Arbitrage Fund Plans and Options Available

Capitalmind Arbitrage Fund is offered across 4 scheme codes. The table below lists all available variants with ISIN codes and latest NAV figures.

Scheme Code	Plan	Option	ISIN (Growth / Payout)	ISIN (Reinvestment)	NAV (Rs)	NAV Date
154236	Direct Plan	Growth	INF226401117	–	10.2057	20-Jul-2026
154234	Direct Plan	IDCW	INF226401125	INF226401133	10.2058	20-Jul-2026
154235	Regular Plan	IDCW	INF226401158	INF226401166	10.178	20-Jul-2026
154233	Regular Plan	Growth	INF226401141	–	10.1778	20-Jul-2026

Investment Objective and Portfolio Approach

Capitalmind Arbitrage Fund seeks to generate returns by exploiting price differentials between the cash and derivatives segments of equity markets, with at least 65% invested in equity and equity related instruments via arbitrage positions, and the remainder in debt and money market instruments.

In terms of portfolio construction, the scheme holds primarily market-neutral arbitrage positions simultaneously buying in the cash market and selling in the futures market, with the rest in high quality debt and money market instruments.

Capitalmind Arbitrage Fund Performance and Returns

Capitalmind Arbitrage Fund has delivered returns that are dependent on the fund manager’s portfolio decisions, market conditions and the expense ratio differential between plans; investors should check the latest factsheet for current figures. Performance across individual plans and options may vary slightly due to differing expense ratios and whether gains are paid out under the IDCW option or reinvested under the Growth option.

The Direct Plan of any mutual fund typically delivers a slightly higher return than the Regular Plan of the same scheme over time, since it charges a lower expense ratio by excluding distributor commission. Investors should review the latest scheme factsheet from the AMC for current performance figures.

Direct Plan vs Regular Plan: Key Differences in Capitalmind Arbitrage Fund

The Direct Plan of Capitalmind Arbitrage Fund is available for investors transacting directly with the AMC or through a registered investment advisor, and carries lower than the Regular Plan of the same scheme, since it excludes distributor commission. The Regular Plan carries not independently verified; investors should check the latest expense ratio on the AMC website or Univest Screener.

Over longer holding periods, the compounding effect of this cost difference can be meaningful, which is why cost conscious investors often prefer the Direct Plan when they are comfortable transacting without distributor support.

Growth Option vs IDCW Option in Capitalmind Arbitrage Fund

The Growth option of Capitalmind Arbitrage Fund reinvests any gains back into the scheme NAV, supporting long term wealth compounding for investors who do not need periodic payouts.

The IDCW option of Capitalmind Arbitrage Fund distributes available surplus to unit holders according to the chosen frequency, subject to the fund house declaring a distribution. Payouts under any IDCW option are not guaranteed and depend on distributable surplus.

Expense Ratio and Exit Load

The expense ratio for the Regular Plan of the scheme is not independently verified; investors should check the latest expense ratio on the AMC website or Univest Screener, while the Direct Plan carries lower than the Regular Plan of the same scheme, since it excludes distributor commission. This is the annual fee deducted from the scheme’s assets.

The exit load on the scheme is typically a small exit load for very short holding periods; arbitrage funds are designed for investors with a minimum horizon of at least 1 to 3 months.

Who Should Consider the scheme

Investors researching the category. The scheme suits investors whose goals align with the arbitrage fund category’s risk and return profile.

Long term investors. The arbitrage fund category is generally suited to investors whose time horizon and risk appetite align with a Low to Moderate risk profile.

Diversified portfolio builders. The scheme can complement other asset class holdings in a balanced portfolio.

Key Risks in the scheme

Market risk. The scheme is subject to market risk like any mutual fund investment, and returns are not guaranteed.

Category concentration risk. Investing heavily in a single category like arbitrage fund can add concentration to a portfolio.

How to Invest in Capitalmind Arbitrage Fund

Investors evaluating Capitalmind Arbitrage Fund should begin by deciding between the Direct and Regular Plan, and between the Growth option for long term compounding and the IDCW option for periodic payouts.

Completing KYC through a SEBI registered intermediary or the AMC portal is mandatory before investing for the first time. Investors who have existing KYC registration can proceed directly.

Investment in Capitalmind Arbitrage Fund can be made as a lump sum or through a Systematic Investment Plan of at least Rs 5,000 lump sum for most arbitrage funds; SIP minimum varies by AMC, followed by regular monitoring of NAV and portfolio composition at least quarterly.

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Conclusion

Capitalmind Arbitrage Fund is a arbitrage fund scheme from Capitalmind Mutual Fund available across 4 plan and option variants, giving investors flexibility in cost structure and payout approach. The representative NAV of Rs 10.2057 for the Direct Plan Growth option as on 20-Jul-2026 reflects the scheme’s performance since launch. Investors should review the latest scheme information document and consult a SEBI registered advisor before investing.

Disclaimer: Data and figures in this article are sourced from publicly available information. These may or may not be accurate. Please verify all data with the official NSE (nseindia.com) and BSE (bseindia.com) websites before making any investment decision. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).

Frequently Asked Questions on Capitalmind Arbitrage Fund

What plans and options are available in Capitalmind Arbitrage Fund?

Ans. Capitalmind Arbitrage Fund is available in Direct and Regular Plans and IDCW, Growth, giving investors 4 scheme codes to choose from depending on cost preference and payout requirements.

What is the latest NAV of Capitalmind Arbitrage Fund?

Ans. The latest NAV of the Direct Plan Growth option of Capitalmind Arbitrage Fund is Rs 10.2057 as on 20-Jul-2026. NAVs for all plan and option variants are updated at the end of every business day.

What is the investment objective of Capitalmind Arbitrage Fund?

Ans. The primary objective of Capitalmind Arbitrage Fund is to generate returns by exploiting price differentials between the cash and derivatives segments of equity markets, with at least 65% invested in equity and equity related instruments via arbitrage positions, and the remainder in debt and money market instruments.

What is the difference between the Direct and Regular Plan in Capitalmind Arbitrage Fund?

Ans. The Direct Plan of Capitalmind Arbitrage Fund carries lower than the Regular Plan of the same scheme, since it excludes distributor commission, excluding distributor commission. The Regular Plan carries not independently verified; investors should check the latest expense ratio on the AMC website or Univest Screener. The lower cost of the Direct Plan can improve long term compounding.

What is the expense ratio of Capitalmind Arbitrage Fund?

Ans. The Regular Plan of Capitalmind Arbitrage Fund carries an expense ratio of not independently verified; investors should check the latest expense ratio on the AMC website or Univest Screener, and the Direct Plan carries lower than the Regular Plan of the same scheme, since it excludes distributor commission. The exact current figure can be confirmed in the latest AMC factsheet.

What is the exit load on Capitalmind Arbitrage Fund?

Ans. The exit load on Capitalmind Arbitrage Fund is typically a small exit load for very short holding periods; arbitrage funds are designed for investors with a minimum horizon of at least 1 to 3 months. Investors should confirm this in the current scheme information document before redeeming.

Who should invest in Capitalmind Arbitrage Fund?

Ans. Capitalmind Arbitrage Fund can suit investors whose financial goals, risk appetite and investment horizon align with the arbitrage fund category. Consult a SEBI registered advisor to assess personal suitability.

Is Capitalmind Arbitrage Fund a good investment?

Ans. Capitalmind Arbitrage Fund can be appropriate for investors who understand the arbitrage fund category mandate and are comfortable with the associated risk. Past performance does not guarantee future returns.

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Author: Ankit Jaiswal

Ankit Jaiswal is the Senior Research Analyst at Univest, leading the platform's in-house equity research desk and serving as the editorial reviewer for all research and blog content published at univest.in. With 11+ years of experience in Indian equity markets, he oversees stock recommendations, earnings analysis, sector coverage, and ensures every published article meets SEBI Research Analyst Regulations. He holds a Bachelor of Commerce (B.Com) from St. Xavier's College, Kolkata — one of India's most prestigious commerce institutions — and has cleared CMT Level 2 from the CMT Association, a globally recognised certification in technical analysis and market research. His research methodology combines fundamental analysis (earnings quality, balance sheet strength, management commentary) with advanced technical analysis (chart patterns, momentum indicators, market structure) — giving Univest's retail investors a dual-lens approach that most Indian research platforms lack. Ankit is among the most comprehensively certified analysts in Indian financial media, holding five NISM certifications: Series-XV (Research Analyst), Series-VIII (Equity Derivatives), Series-VII (SORM), Series-VI (Depository Operations), and Series-V-A (Mutual Fund Distributors). At Univest — India's SEBI-registered research and advisory platform — Ankit's responsibilities include leading the research team, finalising stock recommendations published across Pro Lite, Pro Super, and Pro Gold advisory services, and maintaining editorial oversight of all YMYL financial content published on the blog.