HybridArbitrage FundDirectIDCWModerately High

Franklin India Arbitrage Fund

Q: What is the NAV of Franklin India Arbitrage Fund?

As of 01 Oct 2026, the NAV of Franklin India Arbitrage Fund is ₹11.35 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

Q: What returns has Franklin India Arbitrage Fund delivered?

Franklin India Arbitrage Fund has returned +7.05% over 1 year and +7.04% 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.

Q: What is the expense ratio of Franklin India Arbitrage Fund?

Franklin India Arbitrage Fund charges an expense ratio of 1.20% per year. This annual fee is already deducted from the NAV, so the returns you see are net of it.

Q: What are the top holdings of Franklin India Arbitrage Fund?

Franklin India Arbitrage Fund's largest holdings are Franklin India Money Market Fund Direct-Growth Plan (11.0%), HDFC Bank Ltd ! (6.3%), ICICI Bank Ltd !! (4.9%), Axis Bank Ltd (3.7%) and Reliance Industries Ltd (3.4%). Holdings are disclosed monthly and change over time.

Q: How risky is Franklin India Arbitrage Fund?

Franklin India 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 -0.4%. Higher volatility means the NAV swings more; the drawdown shows how far it has fallen from a peak historically.

Q: What is the benchmark of Franklin India Arbitrage Fund?

Franklin India Arbitrage Fund is benchmarked against the Nifty 50 Arbitrage Index. Its alpha and beta on this page are measured against that index.

Q: Who manages Franklin India Arbitrage Fund?

Franklin India Arbitrage Fund is managed by Mukesh Jain, Rajasa Kakulavarapu, Pallab Roy and Rohan Maru at Franklin Templeton.

Q: How is Franklin India Arbitrage Fund taxed?

Franklin India 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.

Franklin Templeton Mutual Fund · Best Arbitrage Mutual Funds

NAV

₹11.35

-0.04% 1D

as of 01 Oct 2026

This is the Direct plan of Franklin India Arbitrage Fund — bought from the fund house, with no distributor commission in its expense ratio. Income is distributed, which is why this NAV sits below the growth plan of the same fund.

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NAV history

+7.12%CAGR

52-week rangePrev NAV ₹11.36

Latest ₹11.35

Low ₹10.6099th percentile of its 52-week rangeHigh ₹11.36

Key Metrics

Annual fee charged by the fund, already deducted from NAV

1.20%

Category —

Portfolio-weighted harmonic mean P/E across the fund's equity holdings

16.27

Category —

Excess return per unit of total volatility (rf = 6.5%)

—

Category —

Scheme Info

Definitions

Plan

Direct · IDCW

Period before units can be redeemed — 3 years for ELSS, none for most open-ended funds

None

In respect of each purchase of Units – • NIL Exit load – for 10% of the units purchased or switched on or before 30 days from the date of allotment. o The “First In First Out (FIFO)” logic will be applied while selecting the units for redemption o Waiver of Exit load is calculated for each inflow transaction separately on FIFO basis and not on the total units through multiple inflows o The load free units from purchases made subsequent to the initial purchase will be available only after redeeming all units from the initial purchase • All units redeemed /switched-out in excess of the 10% load free units will be subject to the below mentioned exit load. o 0.25% - if Units are redeemed/switched-out on or before 30 days from the date of allotment o Nil - if redeemed after 30 days from the date of allotment *This no load redemption limit is applicable on a 30 day basis (from the date of allotment of such units) and the limit not availed during said period, this shall not be clubbed or carried forward.

Up to 10.00%

tiered — see the full terms

Statutory levy on every mutual-fund purchase since 1 Jul 2020 (SEBI / Govt of India) — the same for every scheme

0.005%

SIP Inv.

Allowed

Smallest recurring SIP instalment the scheme accepts

₹500

Smallest one-time (lumpsum) investment the scheme accepts

₹5,000

Nifty 50 Arbitrage Index

Start of our NAV history for this plan. Direct plans begin 1 Jan 2013, so this is the plan's inception — not necessarily the scheme's original launch date.

19 Nov 2024

Period returns (<1Y, absolute — not annualized)

Definitions

Absolute return over the last 1 month (not annualized)

+0.31%

Absolute return over the last 3 months (not annualized)

+1.60%

Absolute return over the last 6 months (not annualized)

+3.40%

Absolute return since 1 Jan of this year (not annualized)

+5.18%

Annualized returns (≥1Y — CAGR)

Definitions

1-year point-to-point return, annualized (CAGR)

+7.05%

3-year annualized return (CAGR)

—

5-year annualized return (CAGR)

—

10-year annualized return (CAGR)

—

Annualized return (CAGR) since the first NAV we hold for this plan — the Inception date under Key metrics. AMFI's history starts in April 2006, so an older scheme is measured from there.

+7.04%

Advanced metrics — risk

Risk (trailing 3Y)

Definitions

Annualized standard deviation of daily returns

1.14%

Excess return per unit of total volatility (rf = 6.5%)

—

Excess return per unit of downside deviation — upside swings aren't penalized (rf = 6.5%)

—

Largest peak-to-trough decline over full history

-0.44%

Benchmark ratios

Not shown for Arbitrage Fund — a debt, arbitrage or cash-like fund isn't measured against an equity index, so alpha/beta vs one would be noise rather than signal.

Fund vs category average (Arbitrage Fund)

Period	Fund	Category avg.	Diff
1M abs	+0.31%	—	—
3M abs	+1.60%	—	—
6M abs	+3.40%	—	—
1Y CAGR	+7.05%	—	—
3Y CAGR	—	—	—
5Y CAGR	—	—	—

Category average across peers in Arbitrage Fund, 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.

Backtest this fund

What a SIP or one-time investment would have grown to over this fund’s real NAV history.

Monthly investment (₹)

Period

Invested

₹1.20L

Current value

₹1.24L

Absolute

+3.12%

XIRR

+6.87%

Value vs. invested

ValueInvested

12 monthly installments of ₹10,000 into Franklin India 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	+5.18%
2025	+7.19%
2024part	+0.70%

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.

History points

462

Expense ratio

1.20%

AUM

₹1,275Cr

Portfolio turnover

943%

Exit load

Portfolio, AUM & scheme details shown from another plan of this scheme (same underlying portfolio).

P/E ratio

16.3

P/B ratio

3.6

Avg market cap

₹4,59,376Cr

P/E & P/B are portfolio-weighted harmonic means across 122 of 133 equity holdings (67% of the portfolio); loss-making companies are excluded.

Taxation

Taxed as equity

This 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.

Short-term (STCG)

20%

Held under 1 year

Flat, on the whole gain

Long-term (LTCG)

12.5%

Held 1 year or more

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.

Peer comparison · Arbitrage Fund

Compare all


Franklin India Arbitrage FundThis fund Franklin Templeton · Direct · IDCW	—	+7.05%	—	—	—	1.20%	₹1,275Cr
Tata Arbitrage Fund Tata · Direct · Monthly IDCW	—	+6.77%	+7.47%	+6.91%	—	1.57%	₹22,684Cr
Tata Arbitrage Fund Tata · Direct · Monthly IDCW	—	+6.77%	+7.47%	+6.91%	—	1.57%	₹22,684Cr
Invesco India Arbitrage Fund Invesco · Direct · IDCW	—	+6.88%	+7.46%	+7.08%	—	2.20%	₹27,818Cr
Edelweiss Arbitrage Fund Edelweiss · Direct · IDCW	—	+6.67%	+7.39%	+6.90%	—	1.58%	₹14,863Cr
Mirae Asset Arbitrage Fund Mirae Asset · Direct · IDCW	—	+6.76%	+7.37%	+6.74%	—	2.48%	₹3,657Cr

Market-cap allocation · AMFI bands, Jul 2026

Equity holdings by company size — 100% of the equity sleeve priced.

Large cap73.4%
Mid cap23.3%
Small cap3.3%

Asset allocation

As on 31 Aug 2026 · AMC disclosure

Equity70.16%
Debt17.11%
Other11.21%
Cash & Equivalents1.53%

Cash & cash-like: 11.21% — the 1.53% above plus treasury bills, certificates of deposit, commercial paper and TREPS, which the allocation files under Debt but the market counts as cash-equivalent.

which companies this fund invests in

As on 31 Aug 2026 · AMC disclosure

HDFC Bank Ltd !

6.27%

ICICI Bank Ltd !!

4.90%

Axis Bank Ltd

3.73%

Reliance Industries Ltd

3.35%

Vodafone Idea Ltd

2.83%

Bharti Airtel Ltd ## !!

2.78%

Canara Bank (30-Nov-2026)

2.58%

Bank of Baroda (04-Dec-2026)

2.58%

Union Bank of India (16-Mar-2027)

2.53%

National Bank For Agriculture & Rural Development (17-Mar-2027)

2.53%

Holds the same stocks as (by portfolio overlap, not by category)

Compare the top 3 →

Fund	Overlap	Rating	TER	3Y
Aditya Birla Sun Life Arbitrage Fund Aditya Birla Sun Life · Arbitrage Fund	63.4% of 71% equity	★★★☆☆	1.24%	+7.41%
Bajaj Finserv Arbitrage Fund Bajaj Finserv · Arbitrage Fund	63.3% of 69% equity	★★★☆☆	1.30%	+6.97%
HDFC Arbitrage Fund HDFC · Arbitrage Fund	63.0% of 75% equity	★★☆☆☆	1.50%	+7.28%
Nippon India Arbitrage Fund Nippon India · Arbitrage Fund	62.9% of 69% equity	★★★★☆	1.34%	+7.30%
DSP Arbitrage fund DSP · Arbitrage Fund	61.2% of 69% equity	★★★☆☆	1.17%	+7.20%
Invesco India Arbitrage Fund Invesco · Arbitrage Fund	59.9% of 78% equity	★★★★★	2.20%	+7.46%
JM Arbitrage Fund JM Financial · Arbitrage Fund	59.8% of 81% equity	★★☆☆☆	1.41%	+6.95%
SBI Arbitrage Fund SBI · Arbitrage Fund	59.7% of 77% equity	★★★☆☆	1.48%	+7.25%

Overlap is the share of each fund's equity book invested in the same stocks, by weight, across the Direct-plan universe — so a fund that is only part equity is labelled as such. ! marks a pair holding more in common than nine pairs in ten of its type, where that type has a measured distribution.

🚩Holdings under NSE surveillance (ASM)

1 holding — 0.31% of the portfolio — sit in stocks NSE currently lists under its Additional Surveillance Measure. ASM is an exchange response to unusual price or volume activity (higher margins, and trade-for-trade settlement at stage II), not a view on the company or on this fund.

PB Fintech LimitedShort-term · Stage I0.31%

Source: NSE ASM list, matched to holdings by company name — a holding whose name differs from NSE's spelling may not be matched. BSE's separate list is not covered.

Fund size over time

Quarterly average AUM · AMFI

₹1,275Cr

April - June 2026

+67%

since January - March 2026

At or near its largest, ₹1,275Cr 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.

AMC Profile

Franklin Templeton Mutual Fund is the Indian arm of Franklin Resources, the US manager, and has operated here since 1996. In April 2020 it wound up six of its Indian debt schemes — the largest such closure the industry has seen — and returned the money to unitholders over the following years.

Launched

18 Feb 1996

Total AUM

₹1,26,017Cr+2.0% QoQ

Avg AUM · April - June 2026

Website

franklintempletonindia.com

Fund Managers

MJMukesh JainManaging since 07 Jul 2025

Role

Senior Manager – Portfolio Manager/ Equity Trader

Education

Postgraduate in Finance B.Tech. (ECE) from NIT, Jaipur and MB

Experience

Senior Manager Portfolio Manager/ Equity Trader (based at Chennai). Prior Assignments (last 10 years): • EQUIRUS – AVP, Equity September 2018 - June 2025. • Anand Rathi Institutional Derivatives Dealer - January 2017 - August 2018. Religare Securities - Deputy Manager – August 2011 – December 2016. Vice President & Research Analyst

All schemes Mukesh Jain runs →

RKRajasa KakulavarapuStart date not disclosed

Role

Vice President & Portfolio Manager

Education

B.Tech. (ECE) from NIT, Jaipur and MBA from Indian Institute support and of Management, Ahmedabad

Experience

Vice President & Sr Research Analyst & Portfolio Manager She is responsible for equity research support and fund management. (based at Chennai) Prior Assignments: • Franklin Templeton Asset Management (India) Pvt. Ltd. (Since 2016 till date): AVP/Senior Research Analyst. • Jefferies India Pvt. Ltd. (June 2011 to March 2016) • Credit Suisse Securities (India) Pvt. Ltd. (May 2008 to June 2011) Vice President & Portfolio Manager, Fixed Income

Funds managed (12)

All schemes Rajasa Kakulavarapu runs →

PRPallab RoyManaging since 19 Nov 2024

Role

Assistant Vice President and Portfolio Manager Fixed Income

Education

MBA (Fin.), Assistant Vice President M.Com., DBF

Experience

Assistant Vice President and Portfolio Manager - Fixed Income (based at Mumbai). Prior assignments: • Franklin Templeton Asset Management (India) Pvt. Ltd. (June 2001 – till date). Responsible for Liquidity Management & Portfolio MIS – Fixed Income funds. Chief Investment Officer & Managing Director – Fixed Income (based at Mumbai).

Funds managed (8)

All schemes Pallab Roy runs →

RMRohan MaruManaging since 03 Dec 2024

Role

Vice President Portfolio Manager Fixed Income

Total experience

17.5 years

Education

PGeMBA – Mumbai Education Trust (Finance) Masters in Commerce – RA Podar College, Mumbai University Bachelors in management studies – VES College, Mumbai University.

Experience

Vice President- Portfolio Manager, Fixed Income (based in Mumbai). Prior Assignments (last 10 years): ICICI Prudential Asset Management Company Pvt Ltd (05 November 2012 till 27 September 2024) Vice President- Portfolio Manager, Fixed Income (based in Mumbai).

Funds managed (12)

All schemes Rohan Maru runs →

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

Fund managers

Rajasa Kakulavarapu Pallab Roy Rohan Maru

Top holdings

HDFC Bank Ltd !ICICI Bank Ltd !!Axis Bank Ltd Reliance Industries Ltd Vodafone Idea Ltd Bharti Airtel Ltd ## !!IDFC First Bank Ltd !State Bank of India HDFC Life Insurance Co Ltd FSN E-Commerce Ventures Ltd Hindalco Industries Ltd Maruti Suzuki India Ltd

Franklin Templeton 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 Franklin India Arbitrage Fund?

As of 01 Oct 2026, the NAV of Franklin India Arbitrage Fund is ₹11.35 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

What returns has Franklin India Arbitrage Fund delivered?

Franklin India Arbitrage Fund has returned +7.05% over 1 year and +7.04% 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 Franklin India Arbitrage Fund?

Franklin India Arbitrage Fund charges an expense ratio of 1.20% 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 Franklin India Arbitrage Fund?

Franklin India Arbitrage Fund's largest holdings are Franklin India Money Market Fund Direct-Growth Plan (11.0%), HDFC Bank Ltd ! (6.3%), ICICI Bank Ltd !! (4.9%), Axis Bank Ltd (3.7%) and Reliance Industries Ltd (3.4%). Holdings are disclosed monthly and change over time.

How risky is Franklin India Arbitrage Fund?

Franklin India 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 -0.4%. Higher volatility means the NAV swings more; the drawdown shows how far it has fallen from a peak historically.

What is the benchmark of Franklin India Arbitrage Fund?

Franklin India Arbitrage Fund is benchmarked against the Nifty 50 Arbitrage Index. Its alpha and beta on this page are measured against that index.

Who manages Franklin India Arbitrage Fund?

Franklin India Arbitrage Fund is managed by Mukesh Jain, Rajasa Kakulavarapu, Pallab Roy and Rohan Maru at Franklin Templeton.

How is Franklin India Arbitrage Fund taxed?

Franklin India 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.