Baroda BNP Paribas Income Plus Arbitrage Active FoF Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?

Baroda BNP Paribas Income Plus Arbitrage Active FoF Direct Growth Plan has a NAV of ₹10.7837 as of 18 Sep 2026 and a scheme AUM of ₹80 Cr. Its 1-year, 3-year and 5-year returns are 6.18%, 0% and 0%, and the fund sits in the Balanced Risk category. Our view is that this is a relatively cautious hybrid-style option with modest recent gains, but the short history means the longer-term return picture is still very limited.

The benchmark comparison is mixed: the fund is ahead over 1 year, while the benchmark is still negative over 1M and 3M. The portfolio is heavily concentrated in two underlying mutual fund sleeves, so the experience will depend more on those holdings than on a wide basket of direct securities.

Quick facts

Particular	Details
NAV	₹10.7837 as of 18 Sep 2026
AUM	₹80 Cr
Expense Ratio	0.05%
Launch Date	23 May 2025
Min SIP	₹500
Risk Category	Balanced Risk
Benchmark	Nifty 50
Fund Category	Hybrid
Exit Load	No exit load
Fund Managers	Vikram Pamnani

The fund is managed by Vikram Pamnani.

Source data date: as of 18 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	0.33%	-3.73%
3M	1.45%	-3.14%
1Y	6.18%	-5.31%
3Y	Data not available	Data not available
5Y	Data not available	Data not available

Over the last month and quarter, the fund has stayed in positive territory while the benchmark remained under pressure. That tells us the structure has held up better than the benchmark in the most recent stretch, even if the gains have been moderate rather than sharp.

The 1-year number is more important here because the scheme has only been live since May 2025. At 6.18%, the fund has delivered a positive year, while the benchmark is still negative over the same period. That gap matters because it shows the fund has behaved defensively relative to a falling benchmark rather than simply moving with the broader market.

We would still be careful about reading too much into the 3-year and 5-year rows, since the fund history does not extend that far. The current profile suggests a short operating record with steady but limited upside so far, which fits a lower-volatility style better than a strong return-chasing story.

The time pattern also looks smoother than the benchmark’s recent weakness. That is consistent with a fund built around income and arbitrage elements, where the objective is usually to reduce sharp swings rather than to maximise equity-like growth. In simple terms, recent behaviour has been more stable than exciting.

Source data date: as of 18 Sep 2026

Should you BUY or HOLD Baroda BNP Paribas 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.

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Peer comparison

Fund	1Y return	3Y return	5Y return
Baroda BNP Paribas Income Plus Arbitrage Active FoF Direct Growth Plan	6.18%	Data not available	Data not available
Quant Arbitrage Fund Direct Growth Plan	7.6%	Data not available	Data not available
WOC Arbitrage Fund Direct Growth Plan	7.3%	Data not available	Data not available
Franklin India Arbitrage Fund Direct Growth Plan	7.27%	Data not available	Data not available
Motilal Oswal Arbitrage Fund Direct Growth Plan	7.25%	Data not available	Data not available
ITI Arbitrage Fund Direct Growth Plan	7.02%	7.45%	6.27%

This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639.

The fund’s 1-year return is below the leading peer figures in this set, with several arbitrage funds showing returns in the 7% range. That suggests the recent outcome has been positive, but not as strong as the better-performing peers over the same period.

For longer periods, the comparison is harder to use because most peers here do not show 3-year or 5-year history. ITI Arbitrage Fund Direct Growth Plan is the only peer with both measures available, and it has higher 3-year and 5-year returns than this fund can show today because this scheme does not yet have comparable history. So the short-term comparison is live, while the long-term comparison is mostly incomplete.

That mix matters: the current fund looks steadier than the benchmark, but its return profile is not yet as established as several peer options. So the peer set points to a fund that is still building a track record rather than one with a long, proven cycle across multiple time horizons.

Source data date: as of 18 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
Baroda BNP Paribas Corporate Bond Fund- DR GR	Domestic Mutual Funds Units	61.51%
Baroda BNP Paribas Arbitrage Fund- DR GR	Domestic Mutual Funds Units	36.57%
Clearing Corporation of India Ltd	Cash & Cash Equivalents and Net Assets	1.89%

The largest holding is Baroda BNP Paribas Corporate Bond Fund- DR GR at 61.51%, which is a very large single position for a fund with only three disclosed holdings. That scale means the fund’s outcome may be influenced materially by how that underlying sleeve behaves.

Weight then drops to 36.57% in Baroda BNP Paribas Arbitrage Fund- DR GR, and the remaining cash and net assets line is just 1.89%. The fall from the first holding to the third is steep, which suggests this is not a broadly spread portfolio at the disclosed holding level.

Because the three disclosed holdings together account for 99.97% of the portfolio, the structure looks highly concentrated rather than layered across a long tail. That concentration may support a more targeted return profile, but it can also leave the fund more dependent on a narrow set of underlying exposures.

Source data date: as of 18 Sep 2026

Who should invest

This fund fits investors who can accept a Balanced Risk profile and who are comfortable with a hybrid-style structure rather than a pure equity or pure debt outcome. The 1-year return has been positive, while the benchmark has been negative over the same broad period, which points to a relatively steadier recent run.

The short history is the main limitation. Investors with a medium to long horizon may find the current track record useful, but they should also recognise that the 3-year and 5-year rows are not yet available, so the fund still lacks a deep cycle of evidence.

The trade-off is clear: the portfolio structure may help reduce volatility, but the return ambition looks more measured than aggressive. This is more suitable for someone seeking a cautious hybrid allocation than for someone looking for fast growth.

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 18 Sep 2026

Frequently asked questions

What is the current NAV of Baroda BNP Paribas Income Plus Arbitrage Active FoF Direct Growth Plan?

The current NAV is ₹10.7837 as of 18 Sep 2026.

What are the fund’s 1-year, 3-year and 5-year returns?

The fund’s 1-year return is 6.18%, while the 3-year and 5-year returns are Data not available because the scheme does not yet have those full histories.

How has it performed against the benchmark?

It has done better than the benchmark over 1 year, 3 months and 1 month. The benchmark remains negative across those same periods.

How does it compare with peers on recent returns?

Its 1-year return is below several peer arbitrage funds in this set, including Quant Arbitrage Fund Direct Growth Plan, WOC Arbitrage Fund Direct Growth Plan and Franklin India Arbitrage Fund Direct Growth Plan.

What is the minimum SIP amount?

The minimum SIP amount is ₹500.

What is the fund’s risk category and exit load?

The risk category is Balanced Risk. There is no exit load.

Bottom line

This fund has shown a steadier recent pattern than its benchmark, but its return record is still short and its 3-year and 5-year figures are not yet available. Compared with peer arbitrage funds, the 1-year result is respectable but not as strong as several visible peers. The portfolio is concentrated in two large underlying mutual fund sleeves, so the fund’s path may be shaped by a narrow set of exposures rather than a broad spread. That makes it more suitable for investors looking for a measured hybrid style than for those seeking a long, fully established track record.

Published on 21 September 2026 at 9:38 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.