{"id":241366,"date":"2026-09-10T14:20:09","date_gmt":"2026-09-10T08:50:09","guid":{"rendered":"https:\/\/univest.in\/blogs-2\/jm-arbitrage-fund-direct-growth-review-2026\/"},"modified":"2026-09-10T14:20:09","modified_gmt":"2026-09-10T08:50:09","slug":"jm-arbitrage-fund-direct-growth-review-2026","status":"publish","type":"post","link":"https:\/\/univest.in\/blogs-2\/jm-arbitrage-fund-direct-growth-review-2026\/","title":{"rendered":"JM Arbitrage Fund Direct Growth Review 2026: NAV, Returns, Portfolio &#038; Should You Invest?"},"content":{"rendered":"<p><a href=\"https:\/\/univest.in\/mutual-funds\/jm-arbitrage-fund-g-direct-plan\">JM Arbitrage Fund Direct Growth Plan<\/a> is an arbitrage-oriented hybrid fund with a NAV of \u20b937.3438 as of 09 Sep 2026 and scheme AUM of \u20b9482 Cr. Its 1-year, 3-year and 5-year returns are 6.24%, 6.97% and 6.34%, and the fund sits in the Low Risk category. Our view is that it can suit conservative investors who want relatively steady equity-market-linked participation, but the return pattern remains modest rather than aggressive.<\/p>\n<p>The fund\u2019s recent return trend is stable, and its portfolio is built around a diversified set of holdings rather than a single dominant position. That combination may appeal to investors who prioritise lower volatility and a measured compounding profile over sharp upside.<\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_65 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/univest.in\/blogs-2\/jm-arbitrage-fund-direct-growth-review-2026\/#Quick_facts\" title=\"Quick facts\">Quick facts<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/univest.in\/blogs-2\/jm-arbitrage-fund-direct-growth-review-2026\/#Performance\" title=\"Performance\">Performance<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/univest.in\/blogs-2\/jm-arbitrage-fund-direct-growth-review-2026\/#Should_you_BUY_or_HOLD_JM_Arbitrage\" title=\"Should you BUY or HOLD JM Arbitrage?\">Should you BUY or HOLD JM Arbitrage?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/univest.in\/blogs-2\/jm-arbitrage-fund-direct-growth-review-2026\/#Peer_comparison\" title=\"Peer comparison\">Peer comparison<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/univest.in\/blogs-2\/jm-arbitrage-fund-direct-growth-review-2026\/#Portfolio_where_your_money_goes\" title=\"Portfolio: where your money goes\">Portfolio: where your money goes<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/univest.in\/blogs-2\/jm-arbitrage-fund-direct-growth-review-2026\/#Who_should_invest\" title=\"Who should invest\">Who should invest<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/univest.in\/blogs-2\/jm-arbitrage-fund-direct-growth-review-2026\/#Tax_and_exit_load\" title=\"Tax and exit load\">Tax and exit load<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/univest.in\/blogs-2\/jm-arbitrage-fund-direct-growth-review-2026\/#Frequently_asked_questions\" title=\"Frequently asked questions\">Frequently asked questions<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/univest.in\/blogs-2\/jm-arbitrage-fund-direct-growth-review-2026\/#What_is_the_current_NAV_of_JM_Arbitrage_Fund_Direct_Growth_Plan\" title=\"What is the current NAV of JM Arbitrage Fund Direct Growth Plan?\">What is the current NAV of JM Arbitrage Fund Direct Growth Plan?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/univest.in\/blogs-2\/jm-arbitrage-fund-direct-growth-review-2026\/#What_are_the_funds_1-year_3-year_and_5-year_returns\" title=\"What are the fund\u2019s 1-year, 3-year and 5-year returns?\">What are the fund\u2019s 1-year, 3-year and 5-year returns?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/univest.in\/blogs-2\/jm-arbitrage-fund-direct-growth-review-2026\/#How_does_it_compare_with_the_benchmark\" title=\"How does it compare with the benchmark?\">How does it compare with the benchmark?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/univest.in\/blogs-2\/jm-arbitrage-fund-direct-growth-review-2026\/#How_does_it_compare_with_the_peer_funds_shown_here\" title=\"How does it compare with the peer funds shown here?\">How does it compare with the peer funds shown here?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/univest.in\/blogs-2\/jm-arbitrage-fund-direct-growth-review-2026\/#What_is_the_minimum_SIP_amount\" title=\"What is the minimum SIP amount?\">What is the minimum SIP amount?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/univest.in\/blogs-2\/jm-arbitrage-fund-direct-growth-review-2026\/#What_is_the_funds_risk_profile_and_who_manages_it\" title=\"What is the fund\u2019s risk profile and who manages it?\">What is the fund\u2019s risk profile and who manages it?<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/univest.in\/blogs-2\/jm-arbitrage-fund-direct-growth-review-2026\/#Bottom_line\" title=\"Bottom line\">Bottom line<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/univest.in\/blogs-2\/jm-arbitrage-fund-direct-growth-review-2026\/#Explore_mutual_funds_with_Univest\" title=\"Explore mutual funds with Univest\">Explore mutual funds with Univest<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/univest.in\/blogs-2\/jm-arbitrage-fund-direct-growth-review-2026\/#RIA_disclosure\" title=\"RIA disclosure\">RIA disclosure<\/a><\/li><\/ul><\/nav><\/div>\n<h2 style=\"font-weight:700\"><span class=\"ez-toc-section\" id=\"Quick_facts\"><\/span>Quick facts<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table>\n<thead>\n<tr>\n<th>Particular<\/th>\n<th>Details<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>NAV<\/td>\n<td>\u20b937.3438 as of 09 Sep 2026<\/td>\n<\/tr>\n<tr>\n<td>AUM<\/td>\n<td>\u20b9482 Cr<\/td>\n<\/tr>\n<tr>\n<td>Expense Ratio<\/td>\n<td>0.41%<\/td>\n<\/tr>\n<tr>\n<td>Launch Date<\/td>\n<td>01 Jan 2013<\/td>\n<\/tr>\n<tr>\n<td>Min SIP<\/td>\n<td>\u20b91,000<\/td>\n<\/tr>\n<tr>\n<td>Risk Category<\/td>\n<td>Low Risk<\/td>\n<\/tr>\n<tr>\n<td>Benchmark<\/td>\n<td>Nifty 50<\/td>\n<\/tr>\n<tr>\n<td>Fund Category<\/td>\n<td>Hybrid<\/td>\n<\/tr>\n<tr>\n<td>Exit Load<\/td>\n<td>No exit load after holding period<\/td>\n<\/tr>\n<tr>\n<td>Fund Managers<\/td>\n<td>Asit Bhandarkar, Satish Ramanathan, Deepak Gupta., Ruchi Fozdar<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>The fund is managed by Asit Bhandarkar, Satish Ramanathan, Deepak Gupta. and Ruchi Fozdar.<\/p>\n<p class=\"mf-source-date\"><small>Source data date: as of 09 Sep 2026<\/small><\/p>\n<h2 style=\"font-weight:700\"><span class=\"ez-toc-section\" id=\"Performance\"><\/span>Performance<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table>\n<thead>\n<tr>\n<th>Period<\/th>\n<th>Fund return<\/th>\n<th>Benchmark return<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>1M<\/td>\n<td>0.37%<\/td>\n<td>-4.69%<\/td>\n<\/tr>\n<tr>\n<td>3M<\/td>\n<td>1.41%<\/td>\n<td>0.93%<\/td>\n<\/tr>\n<tr>\n<td>1Y<\/td>\n<td>6.24%<\/td>\n<td>-7.16%<\/td>\n<\/tr>\n<tr>\n<td>3Y<\/td>\n<td>6.97%<\/td>\n<td>6.00%<\/td>\n<\/tr>\n<tr>\n<td>5Y<\/td>\n<td>6.34%<\/td>\n<td>5.87%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>JM Arbitrage Fund Direct Growth Plan has held up better than the benchmark over the most recent periods, especially over 1 month and 1 year. The 1-year figure is particularly notable because the benchmark is negative, which shows that the fund has protected better than the Nifty 50 over that stretch.<\/p>\n<p>Over longer horizons, the fund\u2019s returns remain steady rather than spectacular. The 3-year and 5-year numbers are both in the mid-6% range, which points to a fairly consistent compounding pattern rather than a sharp spike in performance.<\/p>\n<p>The recent pattern is slightly better than the benchmark, but not dramatically different from the fund\u2019s longer-term track record. The 3-month return also suggests that the fund has kept its gains modest and controlled, which is consistent with an arbitrage-style approach.<\/p>\n<p>Compared with the benchmark, the fund is ahead across all the displayed periods. The gap is widest in the 1-year period, while the 3-year and 5-year comparisons are closer, so the main edge has come from relative stability rather than from aggressive outperformance.<\/p>\n<p class=\"mf-source-date\"><small>Source data date: as of 09 Sep 2026<\/small><\/p>\n<section class=\"univest-mf-premium-cta\" style=\"margin:28px 0;padding:24px;border-radius:10px;border:1px solid #d8e3f0;background:#f7faff\">\n<h2 style=\"font-weight:700\"><span class=\"ez-toc-section\" id=\"Should_you_BUY_or_HOLD_JM_Arbitrage\"><\/span>Should you BUY or HOLD JM Arbitrage?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>A fund&#8217;s past returns alone don&#8217;t tell you whether you should buy it today or continue holding it.<\/p>\n<p>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.<\/p>\n<p><strong>Already holding JM Arbitrage? Thinking of investing now?<\/strong><\/p>\n<p><a href=\"https:\/\/univest.in\/mutual-funds\" style=\"font-weight:700;text-decoration:none\">Get your portfolio analysed for FREE by SEBI-registered Investment Adviser (RIA) through Univest MF Premium<\/a><\/p>\n<\/section>\n<h2 style=\"font-weight:700\"><span class=\"ez-toc-section\" id=\"Peer_comparison\"><\/span>Peer comparison<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table>\n<thead>\n<tr>\n<th>Fund<\/th>\n<th>1Y return<\/th>\n<th>3Y return<\/th>\n<th>5Y return<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td><a href=\"https:\/\/univest.in\/mutual-funds\/jm-arbitrage-fund-g-direct-plan\">JM Arbitrage Fund Direct Growth Plan<\/a><\/td>\n<td>6.24%<\/td>\n<td>6.97%<\/td>\n<td>6.34%<\/td>\n<\/tr>\n<tr>\n<td><a href=\"https:\/\/univest.in\/mutual-funds\/quant-arbitrage-fund-g-direct-plan\">Quant Arbitrage Fund Direct Growth Plan<\/a><\/td>\n<td>7.62%<\/td>\n<td>Data not available<\/td>\n<td>Data not available<\/td>\n<\/tr>\n<tr>\n<td><a href=\"https:\/\/univest.in\/mutual-funds\/woc-arbitrage-fund-g-direct-plan\">WOC Arbitrage Fund Direct Growth Plan<\/a><\/td>\n<td>7.16%<\/td>\n<td>Data not available<\/td>\n<td>Data not available<\/td>\n<\/tr>\n<tr>\n<td><a href=\"https:\/\/univest.in\/mutual-funds\/franklin-india-arbitrage-fund-g-direct-plan\">Franklin India Arbitrage Fund Direct Growth Plan<\/a><\/td>\n<td>6.91%<\/td>\n<td>Data not available<\/td>\n<td>Data not available<\/td>\n<\/tr>\n<tr>\n<td><a href=\"https:\/\/univest.in\/mutual-funds\/motilal-oswal-arbitrage-fund-g-direct-plan\">Motilal Oswal Arbitrage Fund Direct Growth Plan<\/a><\/td>\n<td>6.86%<\/td>\n<td>Data not available<\/td>\n<td>Data not available<\/td>\n<\/tr>\n<tr>\n<td><a href=\"https:\/\/univest.in\/mutual-funds\/tata-arbitrage-fund-g-direct-plan\">Tata Arbitrage Fund Direct Growth Plan<\/a><\/td>\n<td>6.77%<\/td>\n<td>7.51%<\/td>\n<td>6.80%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639.<\/p>\n<p>On the 1-year measure, the fund trails the stronger peer readings shown here, with Quant, WOC, Franklin India, Motilal Oswal and Tata all above it on that period. That said, the gap is not extreme, and the fund still stays comfortably above the benchmark on a 1-year basis.<\/p>\n<p>For longer horizons, Tata Arbitrage Fund Direct Growth Plan shows slightly better available 3-year and 5-year figures, while the current fund\u2019s own 3-year and 5-year returns remain steady in the mid-6% range. The short-term comparison therefore looks weaker than the longer-term picture, which suggests this fund is more about consistency than about stretching ahead in every window.<\/p>\n<p class=\"mf-source-date\"><small>Source data date: as of 09 Sep 2026<\/small><\/p>\n<div class=\"univest-peer-login-cta\" style=\"margin:20px 0;padding:16px 18px;border:1px solid #d8e3f0;border-radius:8px;background:#f7faff\">\n<p style=\"margin:0\"><strong>Want to know more?<\/strong> <a href=\"https:\/\/univest.in\/user\/log-in\" style=\"font-weight:700;text-decoration:none\">Log in to Univest<\/a> for more mutual fund insights.<\/p>\n<\/div>\n<h2 style=\"font-weight:700\"><span class=\"ez-toc-section\" id=\"Portfolio_where_your_money_goes\"><\/span>Portfolio: where your money goes<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table>\n<thead>\n<tr>\n<th>Holding<\/th>\n<th>Sector<\/th>\n<th>Weight<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>JM Financial Mutual Fund<\/td>\n<td>Domestic Mutual Funds Units<\/td>\n<td>6.53%<\/td>\n<\/tr>\n<tr>\n<td>Ccil<\/td>\n<td>Cash &#038; Cash Equivalents and Net Assets<\/td>\n<td>5.14%<\/td>\n<\/tr>\n<tr>\n<td>HDFC Bank Limited<\/td>\n<td>Bank<\/td>\n<td>3.65%<\/td>\n<\/tr>\n<tr>\n<td>Kotak Mahindra Bank Limited<\/td>\n<td>Bank<\/td>\n<td>3.65%<\/td>\n<\/tr>\n<tr>\n<td>ICICI Bank Limited<\/td>\n<td>Bank<\/td>\n<td>3.38%<\/td>\n<\/tr>\n<tr>\n<td>Reliance Industries Limited<\/td>\n<td>Crude Oil<\/td>\n<td>3.14%<\/td>\n<\/tr>\n<tr>\n<td>Axis Bank Limited<\/td>\n<td>Bank<\/td>\n<td>2.95%<\/td>\n<\/tr>\n<tr>\n<td>Tata Steel Limited<\/td>\n<td>Iron &#038; Steel<\/td>\n<td>2.73%<\/td>\n<\/tr>\n<tr>\n<td>Vodafone Idea Limited<\/td>\n<td>Telecom<\/td>\n<td>2.72%<\/td>\n<\/tr>\n<tr>\n<td>Bharti Airtel Limited<\/td>\n<td>Telecom<\/td>\n<td>2.55%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>The largest holding is JM Financial Mutual Fund at 6.53%, which is not an oversized single-position concentration by itself. The next few positions are close enough to matter, but the fall from the top holding to the tenth holding is still gradual, with Bharti Airtel Limited at 2.55%.<\/p>\n<p>The top 10 holdings account for approximately 36.44% of the portfolio, so the disclosed book is spread across a fairly long tail of holdings. With 60 total holdings disclosed, the fund may avoid leaning too heavily on only a few names, even though the top positions are still likely to have greater influence than the smaller ones.<\/p>\n<p>That structure may support the fund\u2019s steadier return profile, because it combines cash-like and equity-linked exposures across several large positions instead of a sharply concentrated portfolio. The mix is broad enough to suggest balance, while the visible weights still point to a meaningful core set of holdings.<\/p>\n<p>To see all holdings, visit the <a href=\"https:\/\/univest.in\/mutual-funds\/jm-arbitrage-fund-g-direct-plan\">JM Arbitrage Fund Direct Growth Plan<\/a> page<\/p>\n<p class=\"mf-source-date\"><small>Source data date: as of 09 Sep 2026<\/small><\/p>\n<h2 style=\"font-weight:700\"><span class=\"ez-toc-section\" id=\"Who_should_invest\"><\/span>Who should invest<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>This fund may suit investors who want low-risk equity-oriented exposure and can accept modest but steadier returns rather than fast growth. The return pattern across 1 year, 3 years and 5 years suggests consistency, and the benchmark comparison shows that it has been more resilient than the Nifty 50 in the recent past.<\/p>\n<p>A longer investment horizon can make sense here, but the trade-off is clear: the fund is built more for stability and incremental compounding than for standout upside. The holding mix also suggests a diversified, measured structure, which may appeal to conservative investors who want to limit sharp swings.<\/p>\n<h2 style=\"font-weight:700\"><span class=\"ez-toc-section\" id=\"Tax_and_exit_load\"><\/span>Tax and exit load<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table>\n<thead>\n<tr>\n<th>Holding period<\/th>\n<th>Tax rate<\/th>\n<th>Description<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>Units held less than 1 year<\/td>\n<td>20%<\/td>\n<td>Short-term capital gains tax<\/td>\n<\/tr>\n<tr>\n<td>Units held more than 1 year<\/td>\n<td>12.5%<\/td>\n<td>Long-term capital gains tax<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><strong>Exit load:<\/strong> No exit load after the holding period.<\/p>\n<p class=\"mf-source-date\"><small>Source data date: as of 09 Sep 2026<\/small><\/p>\n<h2 style=\"font-weight:700\"><span class=\"ez-toc-section\" id=\"Frequently_asked_questions\"><\/span>Frequently asked questions<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3 style=\"font-weight:700\"><span class=\"ez-toc-section\" id=\"What_is_the_current_NAV_of_JM_Arbitrage_Fund_Direct_Growth_Plan\"><\/span>What is the current NAV of JM Arbitrage Fund Direct Growth Plan?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>The current NAV is \u20b937.3438 as of 09 Sep 2026.<\/p>\n<h3 style=\"font-weight:700\"><span class=\"ez-toc-section\" id=\"What_are_the_funds_1-year_3-year_and_5-year_returns\"><\/span>What are the fund\u2019s 1-year, 3-year and 5-year returns?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>The fund\u2019s 1-year, 3-year and 5-year returns are 6.24%, 6.97% and 6.34%.<\/p>\n<h3 style=\"font-weight:700\"><span class=\"ez-toc-section\" id=\"How_does_it_compare_with_the_benchmark\"><\/span>How does it compare with the benchmark?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>It has outperformed the Nifty 50 across the displayed 1-month, 3-month, 1-year, 3-year and 5-year periods. The biggest gap is in the 1-year period, where the benchmark is negative.<\/p>\n<h3 style=\"font-weight:700\"><span class=\"ez-toc-section\" id=\"How_does_it_compare_with_the_peer_funds_shown_here\"><\/span>How does it compare with the peer funds shown here?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Its 1-year return sits below the peer funds listed here, while its available 3-year and 5-year numbers are steady. Tata Arbitrage Fund Direct Growth Plan has the stronger available longer-term peer figures among the funds shown with 3-year and 5-year data.<\/p>\n<h3 style=\"font-weight:700\"><span class=\"ez-toc-section\" id=\"What_is_the_minimum_SIP_amount\"><\/span>What is the minimum SIP amount?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>The minimum SIP amount is \u20b91,000.<\/p>\n<h3 style=\"font-weight:700\"><span class=\"ez-toc-section\" id=\"What_is_the_funds_risk_profile_and_who_manages_it\"><\/span>What is the fund\u2019s risk profile and who manages it?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>The fund is classified as Low Risk. It is managed by Asit Bhandarkar, Satish Ramanathan, Deepak Gupta. and Ruchi Fozdar, and it has no exit load after the holding period.<\/p>\n<h2 style=\"font-weight:700\"><span class=\"ez-toc-section\" id=\"Bottom_line\"><\/span>Bottom line<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>JM Arbitrage Fund Direct Growth Plan looks steadier than spectacular. Its recent return pattern is consistent with its longer-term record, and it has stayed ahead of the benchmark over the displayed periods, while peer comparison shows a weaker 1-year reading than several peers but a still-reasonable longer-term profile. The Low Risk tag, diversified holdings and 36.44% top-10 weight make it feel measured rather than concentrated. It may fit conservative investors who want equity-linked participation with a controlled profile and can live with moderate returns.<\/p>\n<p class=\"univest-posted-at\" style=\"font-size:14px;color:#666;margin:20px 0 8px\">Published on 10 September 2026 at 2:19 PM IST<\/p>\n<section class=\"univest-login-cta\" style=\"margin:28px 0;padding:24px;border-radius:10px;background:#eef5ff;border:1px solid #cddff7;text-align:center\">\n<h2 style=\"font-weight:700\"><span class=\"ez-toc-section\" id=\"Explore_mutual_funds_with_Univest\"><\/span>Explore mutual funds with Univest<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Review mutual fund data, compare performance and explore fund insights on Univest.<\/p>\n<p><a href=\"https:\/\/univest.in\/user\/log-in\" style=\"display:inline-block;padding:11px 20px;border-radius:6px;background:#1f4e79;color:#fff !important;text-decoration:none;font-weight:700\">Explore Univest<\/a><\/p>\n<\/section>\n<section class=\"univest-disclaimer\">\n<h2 style=\"font-weight:700\"><span class=\"ez-toc-section\" id=\"RIA_disclosure\"><\/span>RIA disclosure<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>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.<\/p>\n<\/section>\n<p><script type=\"application\/ld+json\">{\"@context\":\"https:\/\/schema.org\",\"@type\":\"InvestmentFund\",\"name\":\"JM Arbitrage Fund Direct Growth Plan\",\"identifier\":\"jm-arbitrage-fund-g-direct-plan\",\"category\":\"Hybrid\",\"dateCreated\":\"01 Jan 2013\",\"isAccessibleForFree\":true,\"additionalProperty\":[{\"@type\":\"PropertyValue\",\"name\":\"NAV\",\"value\":37.3438,\"valueReference\":\"as of 09 Sep 2026\"},{\"@type\":\"PropertyValue\",\"name\":\"AUM\",\"value\":\"482 Cr\"},{\"@type\":\"PropertyValue\",\"name\":\"Expense Ratio\",\"value\":\"0.41\"},{\"@type\":\"PropertyValue\",\"name\":\"Benchmark\",\"value\":\"Nifty 50\"},{\"@type\":\"PropertyValue\",\"name\":\"1Y Return\",\"value\":6.24},{\"@type\":\"PropertyValue\",\"name\":\"3Y Return\",\"value\":6.97},{\"@type\":\"PropertyValue\",\"name\":\"5Y Return\",\"value\":6.34},{\"@type\":\"PropertyValue\",\"name\":\"Fund Managers\",\"value\":\"Asit Bhandarkar, Satish Ramanathan, Deepak Gupta., Ruchi Fozdar\"}]}<\/script><script type=\"application\/ld+json\">{\"@context\":\"https:\/\/schema.org\",\"@type\":\"FAQPage\",\"mainEntity\":[{\"@type\":\"Question\",\"name\":\"What is the current NAV of JM Arbitrage Fund Direct Growth Plan?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"The current NAV is \u20b937.3438 as of 09 Sep 2026.\"}},{\"@type\":\"Question\",\"name\":\"What are the fund\u2019s 1-year, 3-year and 5-year returns?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"The fund\u2019s 1-year, 3-year and 5-year returns are 6.24%, 6.97% and 6.34%.\"}},{\"@type\":\"Question\",\"name\":\"How does it compare with the benchmark?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"It has outperformed the Nifty 50 across the displayed 1-month, 3-month, 1-year, 3-year and 5-year periods. The biggest gap is in the 1-year period, where the benchmark is negative.\"}},{\"@type\":\"Question\",\"name\":\"How does it compare with the peer funds shown here?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Its 1-year return sits below the peer funds listed here, while its available 3-year and 5-year numbers are steady. Tata Arbitrage Fund Direct Growth Plan has the stronger available longer-term peer figures among the funds shown with 3-year and 5-year data.\"}},{\"@type\":\"Question\",\"name\":\"What is the minimum SIP amount?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"The minimum SIP amount is \u20b91,000.\"}},{\"@type\":\"Question\",\"name\":\"What is the fund\u2019s risk profile and who manages it?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"The fund is classified as Low Risk. It is managed by Asit Bhandarkar, Satish Ramanathan, Deepak Gupta. and Ruchi Fozdar, and it has no exit load after the holding period.\"}}]}<\/script><script type=\"application\/ld+json\">{\"@context\":\"https:\/\/schema.org\",\"@type\":\"Organization\",\"name\":\"Uniapps Investment Adviser Pvt. Ltd.\",\"description\":\"SEBI Registered Investment Adviser INA000017639\"}<\/script><\/p>\n","protected":false},"excerpt":{"rendered":"<p>JM Arbitrage Fund Direct Growth Plan has a \u20b937.3438 NAV, \u20b9482 Cr AUM and Low Risk profile. Its 1Y, 3Y and 5Y returns are 6.24%, 6.97% and 6.34% as of 09 Sep 2026.<\/p>\n","protected":false},"author":38,"featured_media":241364,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3841],"tags":[],"class_list":["post-241366","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-mutual-funds"],"metadata":{"rank_math_internal_links_processed":["1"],"_thumbnail_id":["241364"],"rank_math_title":["JM Arbitrage Fund Direct Growth Review 2026 | NAV &amp; Returns"],"rank_math_description":["JM Arbitrage Fund Direct Growth Plan review: \u20b937.3438 NAV, 6.24% 1Y return and Low Risk profile as of 09 Sep 2026."],"rank_math_focus_keyword":["JM Arbitrage Fund Direct Growth Plan review"],"rank_math_robots":["a:2:{i:0;s:7:\"noindex\";i:1;s:8:\"nofollow\";}"]},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2026\/09\/JM_Arbitrage_Fund_Direct_Growth_Review_2026_NAV_Returns_Portfolio_Should_You_Invest_neutral.png","_links":{"self":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts\/241366","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/users\/38"}],"replies":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/comments?post=241366"}],"version-history":[{"count":0,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts\/241366\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/media\/241364"}],"wp:attachment":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/media?parent=241366"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/categories?post=241366"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/tags?post=241366"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}