Axis Arbitrage Fund performance review analysis for December
Axis Arbitrage Fund performance review analysis for December: This detailed review of Axis Arbitrage Fund evaluates its recent performance, comparing it to the Nifty index, and analyzes key metrics such as Sharpe Ratio and sectoral allocation. The fund's strategy, top holdings, and recent portfolio moves are explored to provide insights for existing and potential investors.
Axis Arbitrage Direct Growth performance review analysis for December: Axis Arbitrage Direct Growth, managed by the seasoned fund managers Devang Shah,Sachin Jain,Ashish Naik,Karthik Kumar, remains a prominent player in the Arbitrage Fund. Axis Arbitrage Fund boasts an impressive AUM of ₹5515.20 crore. Under the guidance of Devang Shah,Sachin Jain,Ashish Naik,Karthik Kumar, the fund adheres to its objective of to generate income through low volatility absolute return strategies that take advantage of opportunities in the cash and the derivative segments of the equity markets including the arbitrage opportunities available within the derivative segment, by using other derivative based strategies and by investing the balance in debt and money market instruments. However, there is no assurance or guarantee that the investment objective of the Scheme will be achieved. The Scheme does not assure or guarantee any returns.
Performance Analysis:
Over the past week, Axis Arbitrage Fund returned 0.05%, showing a positive delta of 1.25%. The one-month performance shows a negative trend, with the fund delivering 0.49%.
The performance over the longer durations is mentioned below:
| Period | Mutual Fund Returns | Nifty 50 Performance | Performance Difference |
|---|---|---|---|
| 6 Months | 3.65% | 4.08% | -0.43% |
| 1 Year | 8.27% | 16.38% | -8.11% |
| 3 Years | 6.92% | 40.22% | -33.30% |
| 5 Years | 6.00% | 101.49% | -95.49% |
Top Holdings of the Fund
Below is the list of top holdings in the fund:
| Holding Name | Percentage of Portfolio |
|---|---|
| Reliance Industries | 4.74% |
| HDFC Bank | 4.37% |
| Bank Of Baroda | 3.85% |
| Infosys | 2.67% |
| Hindustan Aeronautics | 2.13% |
Sector Allocation of the Fund
| Sector Name | Weightage (%) |
|---|---|
| Regional Banks | 13.76% |
| Construction Services | 5.38% |
| Software & Programming | 5.2% |
| Oil & Gas Operations | 4.75% |
| Metal Mining | 4.52% |
| Electric Utilities | 3.94% |
| Consumer Financial Services | 3.24% |
| Biotechnology & Drugs | 2.79% |
| Aerospace & Defense | 2.48% |
| Misc. Transportation | 2.12% |
| Chemical Manufacturing | 2.04% |
| Construction - Raw Materials | 1.98% |
| Electronic Instr. & Controls | 1.74% |
| Constr. & Agric. Machinery | 1.67% |
| Communications Services | 1.61% |
| Iron & Steel | 1.56% |
| Investment Services | 1.5% |
| Insurance (Life) | 1.25% |
| Misc. Financial Services | 1.1% |
| Tobacco | 1.01% |
| Retail (Apparel) | 0.78% |
| Auto & Truck Manufacturers | 0.76% |
| Recreational Products | 0.74% |
| Jewelry & Silverware | 0.72% |
| Food Processing | 0.5% |
| Oil & Gas - Integrated | 0.44% |
| Hotels & Motels | 0.43% |
| Personal & Household Prods. | 0.41% |
| Personal Services | 0.32% |
| Railroads | 0.31% |
| Misc. Fabricated Products | 0.27% |
| Healthcare Facilities | 0.18% |
| Tires | 0.17% |
| Computer Services | 0.15% |
| Fabricated Plastic & Rubber | 0.11% |
| Beverages (Alcoholic) | 0.1% |
| Misc. Capital Goods | 0.09% |
| Airline | 0.09% |
| Major Drugs | 0.08% |
| Auto & Truck Parts | 0.03% |
| Natural Gas Utilities | 0.02% |
| Insurance (Accident & Health) | 0.02% |
| Motion Pictures | 0.02% |
| Coal | 0.01% |
| Audio & Video Equipment | 0.01% |
Risk Measurement
Understanding the risk associated with the fund is crucial for investors. The Sharpe Ratio, which measures risk-adjusted returns, is a key indicator of how well the fund compensates investors for the risk taken. Over the past year, the fund's Sharpe Ratio stands at 4.09, while the three-year and five-year ratios are 1.21 and 1.09, respectively. Sharpe ratio values above 1 are considered good, whereas values below 1 are considered bad.
In terms of volatility, the standard deviation over the same periods— 0.31% for one year, 0.61% for three years, and 0.72% for five years. Higher standard deviations indicate greater volatility, while lower ones suggest more stable returns.
Recent Portfolio Activity
In the last month, the fund acquired new positions in the following stocks:
| Stock Name | Holding (%) | No of shares | Holding Value |
|---|---|---|---|
| Power Grid Corporation Of India | 0.99% | 1702800 | 54.63 |
| Mphasis | 0.37% | 71775 | 20.67 |
| Godrej Consumer Products | 0.29% | 123500 | 15.85 |
| Trent | 0.28% | 22000 | 15.69 |
| Punjab National Bank | 0.16% | 912000 | 8.93 |
| Sun Pharmaceutical Industries | 0.15% | 43750 | 8.09 |
| Torrent Pharmaceuticals | 0.10% | 17250 | 5.53 |
| Bajaj Finserv | 0.07% | 22500 | 3.94 |
| Voltas | 0.06% | 21000 | 3.47 |
| Info Edge India | 0.06% | 4350 | 3.24 |
| United Spirits | 0.04% | 16800 | 2.44 |
| IPCA Laboratories | 0.03% | 9750 | 1.55 |
| Federal Bank | 0.03% | 75000 | 1.53 |
| Samvardhana Motherson International | 0.02% | 71000 | 1.29 |
| Hero Motocorp | 0.02% | 2550 | 1.28 |
| Marico | 0.02% | 18000 | 1.16 |
| PVR Inox | 0.02% | 5291 | 0.84 |
| Muthoot Finance | 0.01% | 3850 | 0.75 |
| Oracle Financial Services Softwa | 0.01% | 600 | 0.66 |
| Coal India | 0.01% | 6300 | 0.29 |
| Crompton Greaves Consumer Electricals | 0.00% | 3600 | 0.15 |
| Persistent Systems | 0.00% | 200 | 0.11 |
| Syngene International | 0.00% | 1000 | 0.09 |
| ACC | 0.00% | 300 | 0.07 |
The fund has increased its position in the following stocks:
| Stock Name | No of shares (Before purchase) | No of shares (After purchase) | Holding Value |
|---|---|---|---|
| Reliance Industries | 1985000.0 | 1962500.0 | 261.42 |
| HDFC Bank | 1845250.0 | 1389300.0 | 241.15 |
| Bank Of Baroda | 9190350.0 | 8456175.0 | 212.22 |
| Infosys | 1084400.0 | 839200.0 | 147.47 |
| Hindustan Aeronautics | 306900.0 | 276000.0 | 117.21 |
| Gmr Airports | 1.560375E7 | 1.472625E7 | 116.81 |
| Tata Consultancy Services | 368550.0 | 284200.0 | 112.79 |
| Tata Power | 2569050.0 | 2467800.0 | 108.60 |
| Indusind Bank | 946000.0 | 914000.0 | 96.49 |
| Mahindra & Mahindra | 382900.0 | 253050.0 | 69.05 |
| REC | 1352000.0 | 1166000.0 | 60.94 |
| DLF | 840675.0 | 729300.0 | 59.80 |
| Godrej Properties | 221625.0 | 205200.0 | 59.01 |
| Ultratech Cement | 72500.0 | 52600.0 | 58.21 |
| ITC | 1203200.0 | 1137600.0 | 55.61 |
| NTPC | 1414500.0 | 1327500.0 | 54.19 |
| LIC Housing Finance | 961000.0 | 841000.0 | 53.08 |
| National Aluminium Company | 2422500.0 | 2310000.0 | 52.52 |
| Jindal Steel & Power | 578750.0 | 565625.0 | 52.07 |
| Polycab India | 83750.0 | 79250.0 | 51.36 |
| Grasim Industries | 162500.0 | 158500.0 | 42.73 |
| Tata Motors | 708400.0 | 505450.0 | 42.16 |
| UPL | 763100.0 | 751400.0 | 41.61 |
| Titan Company | 144375.0 | 121975.0 | 39.85 |
| NMDC | 2412000.0 | 1782000.0 | 39.54 |
| HDFC Asset Management Company | 82200.0 | 73800.0 | 31.73 |
| Biocon | 1005000.0 | 892500.0 | 28.22 |
| Aditya Birla Fashion & Retail | 1027000.0 | 894400.0 | 27.57 |
| Bharti Airtel | 217550.0 | 148200.0 | 23.90 |
| Indian Hotels Company | 365000.0 | 350000.0 | 23.69 |
| Escorts Kubota | 63800.0 | 62150.0 | 23.28 |
| City Union Bank | 1630000.0 | 1270000.0 | 22.32 |
| Bharat Petroleum Corporation | 784800.0 | 716400.0 | 22.27 |
| Eicher Motors | 72275.0 | 43050.0 | 21.08 |
| Granules India | 552000.0 | 366000.0 | 20.85 |
| Exide Industries | 487800.0 | 435600.0 | 19.84 |
| Bharat Electronics | 837900.0 | 686850.0 | 19.57 |
| Tata Consumer | 207936.0 | 192888.0 | 19.34 |
| Shriram Finance | 63600.0 | 54000.0 | 16.96 |
| Container Corporation Of India | 308000.0 | 200000.0 | 16.95 |
| Pidilite Industries | 71500.0 | 46250.0 | 14.55 |
| SBI Life Insurance Company | 126000.0 | 87375.0 | 14.18 |
| Cipla | 115050.0 | 89050.0 | 13.82 |
| Aarti Industries | 455000.0 | 265000.0 | 13.54 |
| ABB India | 18000.0 | 17000.0 | 12.64 |
| Siemens | 22350.0 | 17400.0 | 12.14 |
| Havells India | 87500.0 | 71500.0 | 11.72 |
| Zydus Lifesciences | 144900.0 | 111600.0 | 11.18 |
| TVS Motor Co | 70350.0 | 39900.0 | 9.95 |
| Apollo Hospitals Enterprise | 20125.0 | 13875.0 | 9.75 |
| Ambuja Cements | 234900.0 | 139500.0 | 8.10 |
| Britannia Industries | 21400.0 | 14000.0 | 8.02 |
| Atul | 8400.0 | 8300.0 | 6.51 |
| Astral | 40370.0 | 35232.0 | 6.24 |
| JSW Steel | 101250.0 | 60750.0 | 5.86 |
| Aurobindo Pharma | 58300.0 | 30250.0 | 4.23 |
| Bharat Forge | 39000.0 | 23000.0 | 3.25 |
| HCL Technologies | 17150.0 | 11200.0 | 1.98 |
| Coforge | 4050.0 | 2400.0 | 1.83 |
| GAIL India | 86925.0 | 54900.0 | 1.10 |
| Colgate Palmolive India | 5950.0 | 3500.0 | 1.08 |
| Coromandel International | 7000.0 | 5600.0 | 0.94 |
| Max Financial Services | 11200.0 | 7200.0 | 0.93 |
| Dabur India | 16250.0 | 8750.0 | 0.48 |
The fund has reduced its holding in the following stocks:
| Stock Name | No of shares (Before reduction) | No of shares (After reduction) | Holding Value |
|---|---|---|---|
| Vedanta | 2576000.0 | 2323000.0 | 107.80 |
| Larsen & Toubro | 275400.0 | 252900.0 | 91.61 |
| Indus Towers | 2349400.0 | 2284800.0 | 77.81 |
| Bandhan Bank | 6073200.0 | 3808000.0 | 69.39 |
| Bajaj Finance | 97250.0 | 91375.0 | 62.96 |
| Vodafone Idea | 7.94E7 | 7.644E7 | 62.07 |
| Indian Energy Exchange | 3123750.0 | 2857500.0 | 50.80 |
| Aditya Birla Capital | 2538000.0 | 2494800.0 | 50.71 |
| Hindustan Copper | 1648300.0 | 1613850.0 | 47.48 |
| CANARA BANK | 4063500.0 | 4036500.0 | 41.44 |
| Laurus Labs | 1009800.0 | 799000.0 | 39.26 |
| Kotak Mahindra Bank | 366800.0 | 205600.0 | 35.60 |
| Steel Authority Of India | 2632000.0 | 2388000.0 | 27.65 |
| Manappuram Finance | 2094000.0 | 1728000.0 | 27.14 |
| SRF | 118125.0 | 89250.0 | 20.03 |
| Indian Railway Catering & Tourism Corporation | 242375.0 | 213500.0 | 17.54 |
| State Bank Of India | 173250.0 | 171750.0 | 14.09 |
| RBL Bank | 2012500.0 | 750000.0 | 12.74 |
| MRF | 855.0 | 785.0 | 9.62 |
| L&T FINANCE | 1878502.0 | 597908.0 | 8.73 |
| Oberoi Realty | 186900.0 | 44100.0 | 8.68 |
| Bajaj Auto | 12000.0 | 8625.0 | 8.49 |
| Power Finance Corp | 172900.0 | 170300.0 | 7.75 |
| Gujarat Narmada Valley Fertilisers & Chemicals | 153400.0 | 115700.0 | 7.24 |
| Navin Fluorine International | 19950.0 | 16450.0 | 5.48 |
| Interglobe Aviation | 15300.0 | 12600.0 | 5.11 |
| Wipro | 216000.0 | 88500.0 | 4.89 |
| Hindustan Unilever | 15600.0 | 15300.0 | 3.87 |
| Glenmark Pharmaceuticals | 24650.0 | 21750.0 | 3.69 |
| United Breweries | 18000.0 | 17200.0 | 3.31 |
| IDFC First Bank | 550250.0 | 465000.0 | 3.07 |
| Tata Communications | 16000.0 | 15000.0 | 2.67 |
| Divis Laboratories | 26200.0 | 4400.0 | 2.60 |
| Chambal Fertilisers & Chemical | 277400.0 | 47500.0 | 2.30 |
| Indian Oil Corporation | 390000.0 | 136500.0 | 1.95 |
| Hindalco Industries | 106400.0 | 28000.0 | 1.93 |
| Bharat Heavy Electricals | 76125.0 | 65625.0 | 1.57 |
| Cholamandalam Investment & Finance Company | 138750.0 | 11875.0 | 1.52 |
| LTI Mindtree | 8700.0 | 2250.0 | 1.29 |
| Hindustan Petroleum Corporation | 475875.0 | 16200.0 | 0.62 |
| Alkem Laboratories | 3600.0 | 1000.0 | 0.58 |
| Tata Steel | 137500.0 | 27500.0 | 0.41 |
| Dixon Technologies (India) | 8000.0 | 200.0 | 0.29 |
| Cummins India | 900.0 | 600.0 | 0.22 |
| Nestle India | 16200.0 | 600.0 | 0.14 |
| ICICI Prudential Life Insurance Company | 9000.0 | 1500.0 | 0.12 |
| Piramal Enterprises | 60750.0 | 750.0 | 0.08 |
| HDFC Life Insurance Company | 213400.0 | 1100.0 | 0.08 |
| Page Industries | 450.0 | 15.0 | 0.07 |
| Tata Chemicals | 31350.0 | 550.0 | 0.07 |
Disclaimer: This is an AI-generated live story and has not been edited by LiveMint staff.
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