Parag Parikh Arbitrage Fund
This is the Regular plan of Parag Parikh 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
★★★☆☆3/5 vs 34 of 38 Arbitrage Fund peers1Y- 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). Based on a 1-year record — this fund is too young for a 3-year CAGR, so its performance is ranked on 1Y against the same peers. 34 of the 38 Arbitrage Funds in this cohort carry the full record the stars need, so they are the ones ranked against.
Not enough Arbitrage Fund peers to rank yet
Volatility 1.1% vs 1.3% category avg
1.4% expense vs 2.2% category avg
Not enough history for a rolling 3Y view
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 (1.39%) vs the Arbitrage Fund average of 2.21%
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 | +0.70% | +0.66% | +0.04% |
| 3M abs | +1.43% | +1.37% | +0.06% |
| 6M abs | +2.92% | +2.81% | +0.11% |
| 1Y CAGR | +6.10% | +5.91% | +0.19% |
| 3Y CAGR | — | +6.49% | — |
| 5Y CAGR | — | +5.96% | — |
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.
12 monthly installments of ₹10,000 into Parag Parikh 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 | +4.58% | |
| 2025 | +6.24% | |
| 2024 | +7.39% | |
| 2023part | +0.94% |
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.
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- Equity70.81%
- Debt15.96%
- Other10.47%
- Cash & Equivalents2.76%
Cash & cash-like: 10.82% — the 2.76% 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 · AMFIAt or near its largest, ₹2,418Cr in April - June 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
PPFAS Mutual Fund is run by PPFAS Asset Management, part of Parag Parikh Financial Advisory Services, and launched its first scheme in 2013. It is known for a value-oriented, low-churn approach, a deliberately small number of schemes, and holding overseas equities alongside Indian ones.
Fund Managers
RTRajeev ThakkarManaging since 02 Nov 2023
Chief Investment Officer and Equity Fund Manager
B. Com. (Bombay University) Chartered Accountant CFA Charter Holder Grad ICWA
Till March 2012 he was acting as a Chief Executive Officer of PPFAS (Sponsor Company). He joined the company in 2001. He started his career in the year Parag 1994 and he has experience of working in areas like; merchant banking, managing fixed income portfolio, broking operations, PMS operations for over two decades. He was functioning as a Fund Manager for PMS service of PPFAS managing a portfolio of around Rs. 300 crores. He is acting as a Chief Investment Officer and Equity Fund Manager to the Company. He has more than 10 years of experience in the capital market. ELSS Tax Saver He started his career with Parag Parikh Financial Advisory Services Limited, following his internship, in the year 2009. He joined PPFAS as a research analyst. He was appointed as Head- research in the year 2011. He is working with the company as an Dedicated Fund Manager for the Overseas Investment.
RORaunak OnkarManaging since 02 Nov 2023
Dedicated Fund Manager for Overseas Investments and Head - Research
Bsc. IT (Bombay University) MMS- Finance (Bombay University)
He has more than 10 years of experience in the capital market. He started his career with Parag Parikh Financial Advisory Services Limited, following his internship, in the year 2009. He joined PPFAS as a research analyst. He was appointed as Head- research in the year 2011. He is working with the company as an Dedicated Fund Manager for the Overseas Investment.
RTRukun TarachandaniManaging since 02 Nov 2023
Executive Vice President & Fund Manager - Equity
10 Years
Post Graduate Diploma in Management (Specialization: Finance)
He is appointed as an Additional Fund Manager - Equity with effect from May 16, 2022. Mr. Rukun Tarachandani
RMRaj MehtaManaging since 01 Sep 2025
Executive Vice President & Fund Manager - Debt
B.Com (Mumbai University), M.Com (Mumbai University), Chartered Accountant, CFA Level III Pass. Post Graduate Diploma in Management (Specialization: Finance)
He is appointed as a Debt Fund Manager of the Parag Parikh Flexi Cap Fund w.e.f 27th January 2016. He has collectively over 8 years of Parikh Conservative Hybrid experience in investment research. He started his career with PPFAS Asset Management Pvt Ltd as an intern in 2012. Following which, he joined the company as a Research Analyst in 2013. He is appointed as an Additional Fund Manager - Equity with effect from May 16, 2022.
TSTejas SomanManaging since 01 Sep 2025
Chief Investm ent Officer - Debt & Fund Manage r - Debt
Mr. Tejas Soman has spent over a decade in the fixed income markets. Prior to PPFAS, He worked with SBI Funds Management Ltd. as a Fund Manager, where he managed a range of fixed income portfolios. He has also worked with Yes Bank in its primary dealership unit, STCI Primary Dealership, and PricewaterhouseCoopers in tax and regulatory advisory. He holds his post-graduation in securities markets from National Institute of Securities Markets (NISM).
ADAishwarya DharManaging since 01 Sep 2025
Senior Manager Debt Dealer & Fund Manager Debt)
Ms. Aishwarya has started her career with Tata AIA Life Insurance Co. Ltd as Executive Finance from September 2012 till May 2015 and handled Accounts Payable & Procurement. She had further joined the Debt Dealing team in Manipal Cigna Health Insurance Co. Ltd. as Deputy Manager - Dealer Portfolio from June 2015 till March 2021. She had a total experience of 8 Years and 6 months in the Financial Service Industry. Ms. Aishwarya Dhar was appointed as a Debt Dealer for the Schemes of the PPFAS Mutual Fund in March 2021. She was appointed as Fund Manager - Debt with effect from September 1, 2025
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
PPFAS 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.
PPFAS AMC announces addition of new branch office
Investment Guru India · 10d ago
PPFAS and SBI MF among 6 mutual funds with over Rs 10,000 crore cash in August
The Economic Times · 17d ago
PPFAS Tax Saver vs Flexi Cap Fund: Same stocks but different returns. Which one performed better and why
Livemint · 25d ago
PPFAS Flexi Cap, Large Cap funds can now invest in gold, silver ETFs: What changes for investors
Business Today · 01 Sep 2026
Overlapping 39 stocks: How Rajeev Thakkar’s two PPFAS equity schemes stand apart
Business Today · 31 Aug 2026
PPFAS Mutual Fund announces feature changes across 5 funds, including flexicap, largecap
Livemint · 29 Aug 2026
PPFAS Mutual Fund announces feature changes across 5 funds, including flexicap, largecap
The Economic Times · 28 Aug 2026
PPFAS GIFT reduces minimum investment in its two outbound passive funds to $500
The Economic Times · 25 Aug 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 Parag Parikh Arbitrage Fund?
As of 05 Oct 2026, the NAV of Parag Parikh Arbitrage Fund is ₹12.06 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.
What returns has Parag Parikh Arbitrage Fund delivered?
Parag Parikh Arbitrage Fund has returned +6.10% over 1 year and +6.58% 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 Parag Parikh Arbitrage Fund?
Parag Parikh Arbitrage Fund charges an expense ratio of 1.39% 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 Parag Parikh Arbitrage Fund?
Parag Parikh Arbitrage Fund's largest holdings are Parag Parikh Liquid Fund- Direct Plan- Growth (10.5%), ICICI Bank Limited (6.0%), HDFC Bank Limited (5.8%), Canara Bank (5.5%) and Axis Bank Limited (4.7%). Holdings are disclosed monthly and change over time.
How risky is Parag Parikh Arbitrage Fund?
Parag Parikh 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 is the benchmark of Parag Parikh Arbitrage Fund?
Parag Parikh Arbitrage Fund is benchmarked against the NIFTY 50 Arbitrage Total Return Index (TRI). Its alpha and beta on this page are measured against that index.
Who manages Parag Parikh Arbitrage Fund?
Parag Parikh Arbitrage Fund is managed by Rajeev Thakkar, Raunak Onkar, Rukun Tarachandani, Raj Mehta, Tejas Soman and Aishwarya Dhar at PPFAS.
How is Parag Parikh Arbitrage Fund taxed?
Parag Parikh 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.