Invesco India Income Plus Arbitrage Active FoF Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?
- September 17, 2026
- Posted by: Chaitanya Auti
- Category: Mutual Funds
Invesco India Income Plus Arbitrage Active FoF Direct Growth Plan is a hybrid fund with a current NAV of ₹1,062.4376 as of 16 Sep 2026 and scheme AUM of ₹188 Cr. Its 1-year, 3-year and 5-year returns are 5.65%, 0% and 0%, and it sits in the Medium Risk category. Our view is that this is better read as a conservative hybrid allocation fund than a long track-record return story, so it may appeal more to investors who want a relatively restrained risk profile than to those looking for a proven multi-year growth record.
The recent return pattern is modest, while the portfolio is heavily tilted toward other domestic mutual fund units, debt-oriented exposure and cash. That mix may help keep volatility in check, but it also means the fund’s return pattern needs more time before any long-run judgement becomes meaningful.
Quick facts
| Particular | Details |
|---|---|
| NAV | ₹1,062.4376 as of 16 Sep 2026 |
| AUM | ₹188 Cr |
| Expense Ratio | 0.04% |
| Launch Date | 21 Jul 2025 |
| Min SIP | ₹1,000 |
| Risk Category | Medium Risk |
| Benchmark | Nifty 50 |
| Fund Category | Hybrid |
| Exit Load | No exit load |
| Fund Managers | Vikas Garg, Deepak Gupta |
The fund is managed by Vikas Garg and Deepak Gupta.
Source data date: as of 16 Sep 2026
Performance
| Period | Fund return | Benchmark return |
|---|---|---|
| 1M | -0.03% | -4.41% |
| 3M | 1.25% | -3.6% |
| 1Y | 5.65% | -7.76% |
| 3Y | Data not available | Data not available |
| 5Y | Data not available | Data not available |
Recent performance is steady rather than strong. Over 1 month, the fund was slightly negative, but the benchmark was weaker, so the fund held up better in a difficult market. Over 3 months and 1 year, the fund stayed positive while the benchmark remained in negative territory, which tells us the structure has been more resilient than the equity benchmark in the recent period.
The longer view is still limited because the scheme launched only in July 2025, so there is no meaningful 3-year or 5-year record to judge. That makes the 1-year figure useful as an early signal, but not enough on its own to establish consistency across a full market cycle.
The daily pattern also looks more controlled than a pure equity fund. The fund’s path over the recent windows suggests relatively small moves compared with the benchmark’s wider swings, which is consistent with a hybrid structure built to dampen drawdowns rather than chase sharp upside.
Against the benchmark, the fund has been ahead in every reported window. The more important question for investors is whether that edge can persist once the fund builds a longer record. At present, the return profile looks measured, and that may suit investors who value steadier behaviour over aggressive short-term gains.
Source data date: as of 16 Sep 2026
Should you BUY or HOLD Invesco India Income Plus Arbitrage Active FoF?
A fund’s past returns alone don’t tell you whether you should buy it today or continue holding it.
The right decision depends on factors such as your current allocation, purchase price, risk profile, investment horizon and the role this fund plays in your overall portfolio.
Already holding Invesco India Income Plus Arbitrage Active FoF? Thinking of investing now?
Peer comparison
| Fund | 1Y return | 3Y return | 5Y return |
|---|---|---|---|
| Invesco India Income Plus Arbitrage Active FoF Direct Growth Plan | 5.65% | Data not available | Data not available |
| Quant Arbitrage Fund Direct Growth Plan | 7.61% | Data not available | Data not available |
| WOC Arbitrage Fund Direct Growth Plan | 7.17% | Data not available | Data not available |
| Franklin India Arbitrage Fund Direct Growth Plan | 7.03% | Data not available | Data not available |
| Motilal Oswal Arbitrage Fund Direct Growth Plan | 6.94% | Data not available | Data not available |
| Invesco India Arbitrage Fund Direct Growth Plan | 6.84% | 7.49% | 7.02% |
This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639.
The current fund’s 1-year return is below all four arbitrage peer funds listed here, while it is still positive and better than the benchmark. That puts it in a middle ground: not the strongest short-term outcome in this group, but still a steadier result than the equity benchmark.
The only peer with disclosed 3-year and 5-year figures is Invesco India Arbitrage Fund Direct Growth Plan, and those numbers are available only for the separate arbitrage fund, not this fund. On that longer view, the current scheme cannot yet be compared on equal footing because it is too new, so the peer set tells a fuller story about the strategy family than about this specific fund.
As a result, the short-term comparison looks weaker than the listed arbitrage peers, while the benchmark comparison remains favourable. That split matters: the fund has shown resilience versus equity markets, but it has not yet built the kind of multi-year record that would let us judge persistence against the peer universe.
Source data date: as of 16 Sep 2026
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Portfolio: where your money goes
| Holding | Sector | Weight |
|---|---|---|
| Invesco India Arbitrage Fund – Direct Plan – Growth Option | Domestic Mutual Funds Units | 38.43% |
| Invesco India Corporate Bond Fund – Direct Plan – Growth | Domestic Mutual Funds Units | 26.14% |
| Invesco India Short Term Fund – DR Growth | Domestic Mutual Funds Units | 23.67% |
| Invesco India Gilt Fund – Direct Plan – Growth | Domestic Mutual Funds Units | 8.19% |
| Invesco India Ultra Short to Short Term Fund-Direct Growth | Domestic Mutual Funds Units | 2.74% |
| Triparty Repo | Cash & Cash Equivalents and Net Assets | 0.90% |
The largest holding, Invesco India Arbitrage Fund – Direct Plan – Growth Option, accounts for 38.43% of the portfolio. The next three positions are also sizable, so the weight profile drops, but not in a cliff-like way. In our view, that makes the fund likely to be influenced mainly by a small set of underlying allocations rather than by many tiny positions.
The top five holdings together account for almost the entire disclosed portfolio, and all six disclosed holdings add up to 100%. That means the allocation is quite compact in visible terms, even though the underlying mix spans arbitrage, corporate bond, short-term debt, gilt, ultra-short debt and cash. The result may be a portfolio whose behaviour is driven more by the interaction of a few large building blocks than by broad diversification across many securities.
Because there are only six disclosed holdings, the tail is short. The smallest disclosed position is Triparty Repo at 0.90%, which is far below the leading allocations, so the portfolio may have greater influence from the largest fund exposures than from the cash sleeve.
Source data date: as of 16 Sep 2026
Who should invest
This fund may suit conservative investors who can accept Medium Risk and want a hybrid structure rather than a pure equity exposure. The recent return pattern is positive but still early, so a longer holding period would be more appropriate than a short tactical view.
The main trade-off is clear: the portfolio may help reduce market swings and has held up better than the benchmark in the recent windows, but it does not yet have a long public track record. Investors who want stable behaviour and are comfortable with an early-stage performance history may find that acceptable, while those seeking a deeper multi-year record may prefer to wait.
Tax and exit load
| Holding period | Tax rate | Description |
|---|---|---|
| Units held less than 1 year | 20% | Short-term capital gains tax |
| Units held more than 1 year | 12.5% | Long-term capital gains tax |
Exit load: No exit load.
Source data date: as of 16 Sep 2026
Frequently asked questions
What is the current NAV of Invesco India Income Plus Arbitrage Active FoF Direct Growth Plan?
The current NAV is ₹1,062.4376 as of 16 Sep 2026.
How has the fund performed over 1 year, 3 years and 5 years?
Its 1-year return is 5.65%, while 3-year and 5-year returns are Data not available because the fund does not yet have those full history periods.
How does the fund compare with the benchmark?
It has outperformed the benchmark in the available 1-month, 3-month and 1-year periods. The benchmark returns are negative in each of those windows, while the fund remains slightly negative only over 1 month and positive over 3 months and 1 year.
How does it compare with the listed peer funds on 1-year returns?
Its 1-year return of 5.65% is below the listed arbitrage peers in this comparison set, while still staying ahead of the benchmark.
What is the minimum SIP amount?
The minimum SIP amount is ₹1,000.
What is the fund’s risk category and exit load?
The fund is in the Medium Risk category and has no exit load. It is managed by Vikas Garg and Deepak Gupta.
Bottom line
This fund looks like a restrained hybrid solution with an early but modest return record. It has held up better than the benchmark in the recent windows, yet its 1-year result trails the listed arbitrage peers and its longer-term record is still too short for a full cycle judgement. The portfolio is concentrated in a small set of underlying funds, which may keep behaviour relatively contained. For investors who want a measured risk profile and can accept limited history, it is a relevant watchlist name rather than a mature long-record option.
Published on 17 September 2026 at 9:42 AM IST
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RIA disclosure
Mutual fund investments are subject to market risks. Read all scheme-related documents carefully before investing. This review is prepared by Uniapps Investment Adviser Pvt. Ltd. (earlier known as Uniapps Global Research Pvt. Ltd.) under SEBI Registered Investment Adviser registration INA000017639 for general informational purposes and is not personalized investment advice.