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

Sundaram Income Plus Arbitrage Active FoF Direct Growth Plan is at ₹10.4007 as of 16 September 2026, with scheme AUM of ₹70 Cr. Its 1-year, 3-year and 5-year returns are 0%, 0%, and 0%, and the risk category is Balanced Risk. Our view is that the fund currently suits investors who want a stability-oriented allocation mix rather than a return record that is already established, because the scheme was launched only on 12 Jan 2026.

The benchmark is Nifty 50, but the fund’s recent movement has been steadier than the index, which has been weaker over the same windows. That makes this a fund to understand as a short-history, diversified FoF built around arbitrage, short-duration debt, and cash-like exposure, rather than as a fund with a long live performance track record.

Quick facts

Particular	Details
NAV	₹10.4007 as of 16 Sep 2026
AUM	₹70 Cr
Expense Ratio	0.0%
Launch Date	12 Jan 2026
Min SIP	₹250
Risk Category	Balanced Risk
Benchmark	Nifty 50
Fund Category	Equity
Exit Load	No exit load
Fund Managers	S. Bharath, Sandeep Agarwal, Kumaresh Ramakrishnan

The fund is managed by S. Bharath, Sandeep Agarwal, and Kumaresh Ramakrishnan.

Source data date: as of 16 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	0.23%	-4.41%
3M	1.37%	-3.6%
1Y	0%	Data not available
3Y	Data not available	Data not available
5Y	Data not available	Data not available

The short-window picture is better than the benchmark. Over 1 month and 3 months, the fund stayed slightly positive while the Nifty 50 was negative, so the scheme has held up more steadily in a weak market patch. That is consistent with its structure, which leans heavily into arbitrage and debt-oriented holdings rather than pure equity exposure.

The live history is very short because the scheme launched in January 2026, so there is not yet a meaningful long cycle to judge. The reported 1-year return is 0%, which simply reflects the absence of a long performance history rather than a mature track record. For now, the main read-through is defensive behaviour, not compounding depth.

In our view, the contrast between the fund and the benchmark is important. The benchmark has been softer across the same short windows, while the fund has remained close to flat-to-slightly positive. That points to lower day-to-day sensitivity, but it does not yet tell us how the portfolio will behave through a full market cycle.

Source data date: as of 16 Sep 2026

Should you BUY or HOLD Sundaram 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
Sundaram Income Plus Arbitrage Active FoF Direct Growth Plan	0%	Data not available	Data not available
Axis Gold and Silver Passive FoF Direct Growth Plan	Data not available	Data not available	Data not available
HSBC Gold ETF FOF Direct Growth Plan	Data not available	Data not available	Data not available
Bandhan Silver ETF FOF Direct Growth Plan	Data not available	Data not available	Data not available
The Wealth Company Gold ETF FOF Direct Growth Plan	Data not available	Data not available	Data not available
Mirae Asset BSE Midcap 150 Momentum 30 ETF FOF Direct Growth Plan	Data not available	Data not available	Data not available

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

The current fund’s short-term return profile is steadier than the benchmark, but the peer set does not provide usable return histories for comparison. That means the most important comparison point here is not a peer ladder, but the fund’s own pattern of modest stability in weak markets. On the limited figures available, the scheme has looked more defensive than the benchmark, while its longer-term return record remains too short to judge.

Source data date: as of 16 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
Sundaram Arbitrage Fund – Direct Growth	Domestic Mutual Funds Units	22.96%
Nippon India Corporate Bond Fund – Direct Plan Growth Plan	Domestic Mutual Funds Units	14.24%
Sundaram Short Duration Fund – Direct Growth	Domestic Mutual Funds Units	12.58%
Sundaram Money Market Fund-Direct Plan – Growth	Domestic Mutual Funds Units	10.73%
Bandhan Short Duration Fund – Direct Growth	Domestic Mutual Funds Units	10.18%
Axis Corporate Bond Fund – Direct Plan – Growth	Domestic Mutual Funds Units	9.96%
Invesco India Arbitrage Fund – Direct Growth	Domestic Mutual Funds Units	7.37%
Tata Arbitrage Fund – Direct Growth	Domestic Mutual Funds Units	6.66%
TREPS	Cash & Cash Equivalents and Net Assets	3.53%
Bandhan Dynamic Bond Fund – Direct Plan – Growth	Domestic Mutual Funds Units	1.4%

The largest holding is Sundaram Arbitrage Fund – Direct Growth at 22.96%, which is a meaningful single position but not an outsized one for a fund-of-funds structure. Weight then declines fairly steadily into the mid-teens, low teens, and high single digits, so the portfolio does not rely on just one or two positions.

The tenth disclosed holding still carries 1.4%, which tells us the allocation stretches beyond the top few names. At the same time, the top 10 holdings together account for approximately 99.61% of the portfolio, so the disclosed book is highly concentrated within the set of holdings shown and leaves little visible room for a broad tail.

Because the table includes 10 disclosed holdings and the combined weight is so high, each of the larger positions is likely to have greater influence on the fund’s behaviour. That may help explain why the scheme can track more steadily than a pure equity benchmark, while still retaining some movement from its underlying fund mix.

Source data date: as of 16 Sep 2026

Who should invest

This fund fits investors who are comfortable with a Balanced Risk profile and want a portfolio that has, so far, behaved more steadily than the benchmark in short, weak market windows. The main limitation is that the scheme is very new, so the 1-year, 3-year and 5-year history does not yet give a full cycle view. That makes it more suitable for investors with a moderate horizon and a preference for a diversified, stability-oriented allocation rather than for someone seeking an established long-term return record.

The trade-off is clear: the mix may reduce day-to-day volatility, but it also leaves the long-term compounding story largely unproven at this stage.

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 Sundaram Income Plus Arbitrage Active FoF Direct Growth Plan?

The current NAV is ₹10.4007 as of 16 September 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 0%, 0% and 0%. The scheme launched on 12 Jan 2026, so the longer figures do not yet reflect a mature track record.

How has the fund performed against the benchmark?

It has been steadier than the Nifty 50 in the short windows available. The fund is slightly positive over 1 month and 3 months, while the benchmark is negative in both periods.

How does it compare with the peer funds listed here?

The peer table does not provide usable return histories for the peer funds, so a direct return-based comparison is not possible. The current fund’s short-term figures remain the main comparison point.

What is the minimum SIP amount?

The minimum SIP amount is ₹250.

What are the risk label, fund managers and exit load?

The risk category is Balanced Risk. The fund is managed by S. Bharath, Sandeep Agarwal and Kumaresh Ramakrishnan, and there is no exit load.

Bottom line

This is a newly launched fund with a very short live history, so its longer-term return story is not yet developed. What it does show so far is steadier short-term behaviour than the benchmark, alongside a portfolio built mainly from arbitrage, short-duration debt and money-market style exposures. The peer set does not add a useful return comparison because the listed peer figures are unavailable. That leaves the fund best suited to investors who want a Balanced Risk allocation and can accept that the compounding record is still in its early stage.

Published on 17 September 2026 at 2:18 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.