LIC MF Arbitrage Fund
This is the Direct plan of LIC MF Arbitrage Fund — bought from the fund house, with no distributor commission in its expense ratio. Income is retained in the fund, so it shows up as NAV rather than as a payout.
NAV history
Scorecard
★★★☆☆3/5 vs 26 of 39 Arbitrage Fund peers- Performance 60%
- Risk 15%
- Cost 10%
- Downside 15%
How this is computed
Each verdict is computed from this fund's own metrics against its sub-category — the number behind it is shown, not a black-box rating. The stars weight the same ground 60/15/10/15 (performance/risk/cost/downside) across every fund in the peer group. Ranked within Arbitrage Fund (same plan and option). 26 of the 39 Arbitrage Funds in this cohort carry the full record the stars need, so they are the ones ranked against.
3Y CAGR +7.08% · ranks 20 of 26 Arbitrage Funds
Volatility 1.1% vs 1.3% category avg
1.0% expense vs 1.5% category avg
100% of rolling 3Y windows were positive
Strengths & concerns
Generated from this fund's own numbers against its sub-category — each point names the figure behind it.
Strengths
- Less volatile than its Arbitrage Fund peers (1.1% vs 1.3%)
- Low expense ratio (1.04%) vs the Arbitrage Fund average of 1.51%
- Consistent — positive in 100% of rolling 3-year windows
Concerns
- Weaker risk-adjusted returns — Sharpe 0.54 below the Arbitrage Fund average of 0.64
Key Metrics
Scheme Info
DefinitionsPeriod returns (<1Y, absolute — not annualized)
DefinitionsAnnualized returns (≥1Y — CAGR)
DefinitionsAdvanced metrics — risk
Fund vs category average (Arbitrage Fund)
| Period | Fund | Category avg. | Diff |
|---|---|---|---|
| 1M abs | +0.76% | +0.72% | +0.04% |
| 3M abs | +1.54% | +1.57% | -0.03% |
| 6M abs | +3.25% | +3.18% | +0.07% |
| 1Y CAGR | +6.72% | +6.65% | +0.07% |
| 3Y CAGR | +7.08% | +7.20% | -0.12% |
| 5Y CAGR | +6.62% | +6.66% | -0.04% |
Category average across peers in Arbitrage Fund (up to 39 funds with data), same plan and option, excluding this fund. Under-1-year figures are absolute; 1Y and beyond are annualised (CAGR).
Not sure what a figure means? The glossary explains every metric, and the methodology shows the formulas.
Category rank
Vs 39 peers in Arbitrage Fund
Backtest this fund
What a SIP or one-time investment would have grown to over this fund’s real NAV history.
60 monthly installments of ₹10,000 into LIC MF Arbitrage Fund, valued at the latest NAV. XIRR annualizes for each installment’s timing.
Calendar-year returns
What the fund actually returned in each year, not the smoothed average.
| Year | Fund | |
|---|---|---|
| 2026part | +5.09% | |
| 2025 | +6.82% | |
| 2024 | +7.81% | |
| 2023 | +7.41% | |
| 2022 | +4.96% | |
| 2021 | +3.93% | |
| 2020 | +4.20% | |
| 2019part | +5.71% |
January–December, from this fund's NAV history. Absolute return, not annualised. “part” marks a year the fund didn't run end to end — its first year, the current year so far, or one it stopped reporting in.
Recent changes
Expense-ratio, fund-manager, exit-load and minimum-investment changes we've picked up in the last 30 days.
- Expense ratio down: 1.09% → 1.04%02 Oct 2026
Taxation
Taxed as equityThis is an equity-oriented fund (≥65% in Indian equities), so gains get the concessional capital-gains rates below — they do not add to your income-tax slab.
Flat, on the whole gain
On gains above ₹1.25 L per financial year
Applies to capital gains on redemption. Excludes IDCW/dividend tax, STT, surcharge and cess, and pre-2018 equity grandfathering. For research only — consult a tax advisor before filing.
Asset allocation
As on 31 Aug 2026 · AMC disclosure- Equity67.98%
- Other28.21%
- Cash & Equivalents3.81%
Cash & cash-like: 12.94% — the 3.81% above plus treasury bills, certificates of deposit, commercial paper and TREPS, which the allocation files under Debt but the market counts as cash-equivalent.
Fund size over time
Quarterly average AUM · AMFIDown +6% from its peak of ₹264.53Cr in January - March 2026. Size matters most where the mandate is narrow — a large small-cap or a very large flexi-cap book is harder to move without moving the price.
Net flow is an estimate: AMFI publishes a quarterly average AUM, not a closing balance, and it covers every plan and option of this scheme together, so it is a read on direction and rough size rather than a cash-flow statement.
AMC Profile
LIC Mutual Fund is sponsored by the Life Insurance Corporation of India and has been in business since 1989. It absorbed IDBI Mutual Fund's schemes in 2023 and runs a mix of equity, debt and index funds.
Fund Managers
SBSumit BhatnagarManaging since 03 Oct 2023
Fund Manager - Equity
• MBA (Finance) – Rotman School of Management, university of Toronto • CFA – CFA Institute, USA • MBA (Finance) – I.M.S., Devi Ahilya University, Indore • BBA – P.I.M.R, Devi Ahilya University, Indore
Mr. Sumit Bhatnagar has an overall experience of 25 years in financial markets. – • Fund Manager of (Equity) – LIC Mutual Fund Asset Management Limited (With – rd effect from 3 October 2023) • Fund Manager (Equity) – Indiabulls Asset – Management Co. Ltd. (May 2021 – June 2023) • Head – Equity - Indiabulls Asset Management Co. Ltd. (February 2009 – January 2019)
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SASasikant AravamuthanManaging since 01 Jul 2026
PSPratik Harish ShroffManaging since 26 Sep 2023
Fund Manager – Fixed Income
Over 18 years of experience in the Banking and Financial Services Industry. • Fund Manager (Fixed Income)- LIC Mutual Fund Asset Management Ltd. (with effect from 18th September 2023) • Senior Associate Director Treasury – CTBC Bank LTD (February 2023 to September 2023) • Deputy Vice president GMG – IndusInd Bank Limited (August 2021 to February 2023) • Vice President Treasury – Industrial and Commercial Bank of China (November 2018 to August 2021) • Dealer Fixed Income – Tata Mutual Fund (October 2012 to November 2018) • Associate Vice President – LKP Securities (May 2007 – October 2012)
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Fund managers from the AMC's filed Scheme Summary — its most recent filing for this scheme. Benchmark and dealing terms from it and this scheme's SEBI-filed Scheme Information Document on AMFI. Each manager's qualifications and role are reconciled across every filing this fund house makes for them, including its Statement of Additional Information. Total AUM via AMFI.
Explore from here
LIC in the news
Headlines about the fund house, not this scheme in particular — highlights only; tap through to read the full story at the source.
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Returns and risk are computed from NAV history and may differ slightly from other portals due to methodology (rolling vs point-to-point, dividend treatment). For research only — not investment advice.
About Arbitrage funds
Arbitrage funds profit from small price gaps between the cash and futures markets rather than from market direction. Returns are usually modest and cash-like, but they are taxed as equity.
Frequently asked questions
What is the NAV of LIC MF Arbitrage Fund?
As of 05 Oct 2026, the NAV of LIC MF Arbitrage Fund is ₹15.64 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.
What returns has LIC MF Arbitrage Fund delivered?
LIC MF Arbitrage Fund has returned +6.72% over 1 year, +7.08% per year over 3 years, +6.62% per year over 5 years and +5.97% per year since inception. Figures beyond one year are annualised (CAGR) and are computed from AMFI NAV history, so they may differ slightly from other portals.
What is the expense ratio of LIC MF Arbitrage Fund?
LIC MF Arbitrage Fund charges an expense ratio of 1.04% per year. This annual fee is already deducted from the NAV, so the returns you see are net of it.
What are the top holdings of LIC MF Arbitrage Fund?
LIC MF Arbitrage Fund's largest holdings are LIC MF ULTRA SHRT DUR FD -DIRECT PLAN (15.3%), LIC MF MONEY MARKET FUND-DIRECT PLAN-GR (12.9%), HDFC Bank Ltd. (8.7%), Hindalco Industries Ltd. (7.1%) and State Bank of India (6.9%). Holdings are disclosed monthly and change over time.
How risky is LIC MF Arbitrage Fund?
LIC MF Arbitrage Fund is rated moderately high on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 1.1% and its worst peak-to-trough fall in our sample was -0.7%. Higher volatility means the NAV swings more; the drawdown shows how far it has fallen from a peak historically.
What does the Sharpe ratio of 0.54 mean?
The Sharpe ratio is return earned per unit of total risk, above a 6.5% risk-free rate. LIC MF Arbitrage Fund's 0.54 means it has rewarded its volatility with excess return. Higher is better.
What is the benchmark of LIC MF Arbitrage Fund?
LIC MF Arbitrage Fund is benchmarked against the Nifty 50 Arbitrage Index. Its alpha and beta on this page are measured against that index.
Who manages LIC MF Arbitrage Fund?
LIC MF Arbitrage Fund is managed by Sumit Bhatnagar, Sasikant Aravamuthan and Pratik Harish Shroff at LIC.
How is LIC MF Arbitrage Fund taxed?
LIC MF Arbitrage Fund is an equity-oriented fund, so its capital gains get concessional rates: short-term gains (units held under 1 year) are taxed at 20%, and long-term gains (held 1 year or more) at 12.5% above a ₹1.25 lakh per-year exemption. These rates apply on redemption and don't add to your income-tax slab.