Old Bridge Arbitrage Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?
- September 17, 2026
- Posted by: Chaitanya Auti
- Category: Mutual Funds
Old Bridge Arbitrage Fund Direct Growth Plan has a NAV of ₹10.5326 as of 16 Sep 2026 and a scheme AUM of ₹222 Cr. Its 1-year, 3-year and 5-year returns are 0%, 0% and 0%, and the fund sits in the Low Risk category. Our view is that this is better read as a conservative arbitrage-style holding than a return-seeking growth engine, especially because the recent performance has been modest while the portfolio remains heavily parked in cash and treasury-bill exposure.
The key fit is for investors who want lower day-to-day volatility and can accept that benchmark-beating upside is limited. The fund’s return pattern is still short in history, so the main question is not long track record depth but whether its low-risk profile and stable structure suit the role you want it to play in a portfolio.
Quick facts
| Particular | Details |
|---|---|
| NAV | ₹10.5326 as of 16 Sep 2026 |
| AUM | ₹222 Cr |
| Expense Ratio | 0.0% |
| Launch Date | 13 Nov 2025 |
| Min SIP | ₹2,500 |
| Risk Category | Low Risk |
| Benchmark | Nifty 50 |
| Fund Category | Hybrid |
| Exit Load | 0.25% on or before 7D, Nil after 7D |
| Fund Managers | Kenneth Andrade |
The fund is managed by Kenneth Andrade.
Source data date: as of 16 Sep 2026
Performance
| Period | Fund return | Benchmark return |
|---|---|---|
| 1M | 0.57% | -4.41% |
| 3M | 1.53% | -3.60% |
| 1Y | Data not available | Data not available |
| 3Y | Data not available | Data not available |
| 5Y | Data not available | Data not available |
In the recent 1-month and 3-month periods, the fund stayed positive while the benchmark was negative. That tells us the fund has been steadier than the benchmark over the short window available here, which is what investors normally want from an arbitrage-oriented or low-volatility allocation.
The short history also matters. The fund has only been launched on 13 Nov 2025, so there is no true 1-year, 3-year or 5-year performance record to assess yet. That means the recent numbers are useful for observing behaviour, but not for building confidence in longer-cycle compounding.
In our view, the pattern looks defensive rather than market-sensitive. The benchmark weakness in the same periods contrasts with the fund’s small gains, which supports the idea that the scheme is currently doing more about stability than about large upside capture.
For investors, that distinction is important. A fund like this is usually judged by how well it preserves capital and smooths short-term movement, and on that narrow lens the recent behaviour is reasonably consistent with the Low Risk label.
Source data date: as of 16 Sep 2026
Should you BUY or HOLD Old Bridge Arbitrage?
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 Old Bridge Arbitrage? Thinking of investing now?
Peer comparison
| Fund | 1Y return | 3Y return | 5Y return |
|---|---|---|---|
| Old Bridge Arbitrage Fund Direct Growth Plan | Data not available | 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.
On the recent 1-year numbers available across the peer set, the current fund has no comparable history yet, while several peers show mid-to-high single-digit returns. That means the scheme is not yet demonstrating the kind of established 1-year track record that the better-known arbitrage peers already have.
The longer-horizon picture is also mixed because only one peer in this set has 3-year and 5-year figures, and those are positive. By contrast, this fund still lacks those longer records, so the comparison currently favours peers that already have a deeper measurable history.
So the short-term story is about recent stability, while the peer-set story is about maturity of track record. Those are not the same thing, and right now the second point is still unfinished for this fund.
Source data date: as of 16 Sep 2026
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Portfolio: where your money goes
| Holding | Sector | Weight |
|---|---|---|
| Net Receivables / (Payables) | Cash & Cash Equivalents and Net Assets | 87.03% |
| 364 Days Tbill (MD 13/05/2027) | Treasury Bills | 6.48% |
| 182 Days Tbill (MD 19/11/2026) | Treasury Bills | 2.22% |
| 364 Days Tbill (MD 17/12/2026) | Treasury Bills | 2.21% |
| 182 Days Tbill (MD 04/02/2027) | Treasury Bills | 2.19% |
The largest disclosed holding is Net Receivables / (Payables) at 87.03%, which means the portfolio is very heavily influenced by cash-like net asset movements. The next four positions are all treasury bills, and each one is much smaller than the first line item.
That drop from 87.03% to 6.48% is steep, and it tells us the portfolio is not built as a broad multi-stock book. Instead, the disclosed holdings show a very concentrated structure in which a single cash-equivalent line dominates and the rest of the exposure sits in short-dated bills.
Because all five disclosed holdings together account for 100% of the portfolio and there are only 5 disclosed holding rows, the disclosed sleeve is compact rather than spread across a long tail. In our view, that may help keep day-to-day movement restrained, but it also means the fund’s character is shaped by a small number of positions.
Source data date: as of 16 Sep 2026
Who should invest
This fund is most suitable for investors who are comfortable with a low-volatility profile and want an allocation that is not tied to aggressive market swings. The recent return profile is positive over the short periods available, but it is still too early to judge it as a long-horizon return compounder.
The main trade-off is that stability comes with limited upside. Investors with a short to medium horizon who value smoother behaviour may find the structure appealing, while those seeking stronger growth potential or a deeper performance history may want to look elsewhere.
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
0.25% on or before 7D, Nil after 7D.
Source data date: as of 16 Sep 2026
Frequently asked questions
What is the current NAV of Old Bridge Arbitrage Fund Direct Growth Plan?
The current NAV is ₹10.5326 as of 16 Sep 2026.
What are the fund’s 1-year, 3-year and 5-year returns?
The fund’s 1-year, 3-year and 5-year returns are not available yet. The scheme was launched on 13 Nov 2025, so it does not yet have a full multi-year history.
How has the fund performed versus Nifty 50 recently?
It has done better than Nifty 50 in the recent 1-month and 3-month periods. The fund is positive in both periods, while the benchmark is negative in both.
How does the fund compare with peer arbitrage funds on recent returns?
Several peer funds show 1-year returns in the mid-to-high single digits, while this fund does not yet have a comparable 1-year record. That makes the peer set look more established on measurable history at this stage.
Is there a minimum SIP for this fund?
The minimum SIP is ₹2,500.
What should investors know about the risk and portfolio?
The fund is in the Low Risk category. Its disclosed portfolio is dominated by Net Receivables / (Payables) and short-dated treasury bills, which supports a conservative structure.
Bottom line
Old Bridge Arbitrage Fund Direct Growth Plan looks like a low-volatility holding with a short operating history and a recent pattern that has held up better than the benchmark over the latest 1-month and 3-month windows. The peer set, however, shows more developed return histories, so the fund still has to build a deeper record. Its portfolio is dominated by cash-like receivables and treasury bills, which reinforces the conservative profile. For investors who want stability first and growth second, that is the central appeal.
Published on 17 September 2026 at 12:51 PM 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.