Union Arbitrage Fund
This is the Regular plan of Union Arbitrage Fund — bought through a distributor, whose commission is paid out of its expense ratio. Income is retained in the fund, so it shows up as NAV rather than as a payout.
NAV history
Scorecard
★★☆☆☆2/5 vs 26 of 38 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 38 Arbitrage Funds in this cohort carry the full record the stars need, so they are the ones ranked against.
3Y CAGR +6.57% · ranks 12 of 26 Arbitrage Funds
Volatility 1.1% vs 1.3% category avg
2.2% expense vs 2.2% 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%)
- Consistent — positive in 100% of rolling 3-year windows
Concerns
No significant concerns identified.
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 | +0.66% | +0.66% | 0.00% |
| 3M abs | +1.51% | +1.37% | +0.14% |
| 6M abs | +2.98% | +2.81% | +0.17% |
| 1Y CAGR | +6.02% | +5.91% | +0.11% |
| 3Y CAGR | +6.57% | +6.48% | +0.09% |
| 5Y CAGR | +5.95% | +5.96% | -0.01% |
Category average across peers in Arbitrage Fund (up to 38 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 38 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 Union 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 | +4.57% | |
| 2025 | +6.03% | |
| 2024 | +7.57% | |
| 2023 | +7.04% | |
| 2022 | +3.66% | |
| 2021 | +3.71% | |
| 2020 | +4.48% | |
| 2019part | +4.92% |
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 up: 2.17% → 2.23%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- Equity73.99%
- Other13.94%
- Debt6.71%
- Cash & Equivalents5.36%
Cash & cash-like: 13.94% — the 5.36% 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 +13% from its peak of ₹279.35Cr 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
Union Mutual Fund is sponsored by Union Bank of India, and was branded Union KBC until its Belgian joint-venture partner exited. It runs a small equity, hybrid and debt line-up.
Fund Managers
DTDevesh ThackerStart date not disclosed
Fund Manager - Fixed Income
B.Com (Bachelor of Commerce) & M.B.A (Masters of Business Administration)
Mr. Thacker has an overall work experience of over 18 years in Fund Management & Banking Industry. November 2010 till date with Union Asset Management Company Pvt. Ltd. (AMC) as Fund Manager - Fixed Income. June 2008 to November 2010 with Sahara Asset Management Co. Pvt. Ltd. as Fund Manager - Fixed Income. December 2004 to May 2008 with ICICI Bank Limited, Retail Operations and Branch Banking. October 2002 to December 2004 with Dolat Capital Markets Limited as a Dealer in Fixed Income, handling institutional client's deals and queries. January 2002 to September 2002 with Orbis Securities (India Bulls) Limited, as Dealer in Fixed Income. October 1999 to January 2002 with ASK Financial Services Ltd (NSE Broking Firm), Equity and Derivative Dealer.
VTVishal ThakkerStart date not disclosed
Dealer - Equity
Master Finance Management
Mr. Thakker is appointed as a Co-Fund Manager of this Advantage Scheme. Prior to his appointment as a Co-Fund Manager, he has been associated with Union Asset Management Company Private Limited as Dealer - Equity since March 2017. Prior to this, he was associated with Elara Capital as Sales Trader from February 2010 till February 2017. He has also been associated with Emkay Shares & Stock Broking as a Dealer from June 2009 - February 2010. He has over 14 years of experience in equity derivative dealing functions.
Fund manager, benchmark and dealing terms from 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
Union 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.
Union Mutual Fund Says: When It Comes to Investing, Don’t Just Take a ‘Tukka’
IMPACT Magazine · 4d ago
‘Tukka Nahi ,Tareeka Chahiye’ now has a tune: Union Mutual Fund adds a jingle to its investor awareness campaign
adgully.com · 4d ago
‘Tukka Nahi, Tareeka Chahiye’ now has a tune: Union Mutual Fund adds a jingle to its investor awareness campaign
Passionate In Marketing · 4d ago
Union Dynamic Term Fund - Regular Plan Portfolio
The Economic Times · 4d ago
Union Dynamic Term Fund - Regular Plan Fund info
The Economic Times · 4d ago
Union Short Term Fund(Ex)-IDCW Daily
The Economic Times · 24d ago
Union Short Term Fund(Ex)-IDCW Daily
The Economic Times · 24d ago
Union Short Term Fund(Ex)-IDCW Fortnightly
The Economic Times · 03 Sep 2026
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 Union Arbitrage Fund?
As of 05 Oct 2026, the NAV of Union Arbitrage Fund is ₹15.08 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.
What returns has Union Arbitrage Fund delivered?
Union Arbitrage Fund has returned +6.02% over 1 year, +6.57% per year over 3 years, +5.95% per year over 5 years and +5.52% 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 Union Arbitrage Fund?
Union Arbitrage Fund charges an expense ratio of 2.23% 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 Union Arbitrage Fund?
Union Arbitrage Fund's largest holdings are Union Money Market Fund - Direct Plan - (13.9%), Bank of Baroda (6.6%), Patanjali Foods Ltd. (4.5%), Reliance Industries Ltd. (3.4%) and Bharti Airtel Ltd. (2.8%). Holdings are disclosed monthly and change over time.
How risky is Union Arbitrage Fund?
Union 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 -0.6%. 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 0.06 mean?
The Sharpe ratio is return earned per unit of total risk, above a 6.5% risk-free rate. Union Arbitrage Fund's 0.06 means it has rewarded its volatility with excess return. Higher is better.
What is the benchmark of Union Arbitrage Fund?
Union Arbitrage Fund is benchmarked against the As per AMFI Tier I benchmark: $ NIFTY 50 Arbitrage Index (TRI). Its alpha and beta on this page are measured against that index.
Who manages Union Arbitrage Fund?
Union Arbitrage Fund is managed by Devesh Thacker and Vishal Thakker at Union.
How is Union Arbitrage Fund taxed?
Union 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.