TRUSTMF Arbitrage Fund
This is the Direct plan of TRUSTMF 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
★★☆☆☆2/5 vs 34 of 39 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 39 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 1.3% vs 1.3% category avg
1.4% expense vs 1.5% category avg
Not enough history for a rolling 3Y view
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 | +0.72% | +0.72% | 0.00% |
| 3M abs | +1.55% | +1.57% | -0.02% |
| 6M abs | +3.12% | +3.19% | -0.07% |
| 1Y CAGR | +6.52% | +6.65% | -0.13% |
| 3Y CAGR | — | +7.20% | — |
| 5Y CAGR | — | +6.66% | — |
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.
12 monthly installments of ₹10,000 into TRUSTMF 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 | +4.85% | |
| 2025part | +2.14% |
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- Equity77.39%
- Other17.51%
- Cash & Equivalents5.10%
Cash & cash-like: 17.51% — the 5.10% 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, ₹85.39Cr 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
TRUST Mutual Fund is run by TRUST Asset Management, part of the TRUST Group, a financial services firm with a fixed-income heritage. Its line-up leans heavily towards debt schemes.
Fund Managers
MVMihir VoraStart date not disclosed
Ms. Puja Trivedi Head - Compliance, Secretarial & Legal
CFA - CFA Institute, USA PGDM - IIM, Lucknow Bachelor of Engineering - Maharaja Sayajirao University, Vadodara
Over 30 years of experience in Fund Management across various verticals in financial services industry, viz. Mutual 2025 Funds, Insurance, Sovereign Funds. From October 2023 till date: Chief Investment Officer, TRUST Asset Management Private Limited Sept. 2014 - Sept. 2023: Chief Investment Officer, Max Life Insurance Company April 2012 - September 2014: Chief Investment Officer (Offshore), Birla Sunlife Asset Management
BHBhavin HemaniStart date not disclosed
CFA (ICFAI), Age
Mr. Bhavin Hemani has over 24 years of October 2019 - December 2021 experience mainly in the Financial Services Research Associate, Emkay Global Industry. July 2026 till Date Mr. Vipul 34 Yrs. Over 9 years of experience in the financial Totla, services industry with over 7 years experience Dealer – Equity, Trust Asset Management B.E. Research in Credit Analysis and Debt Capital Market. Private Limited (Computers), March 2006 till June 2026 Analyst - Debt Pune March 2025 to till date Dealer – Equity, JM Financial Asset University Research Analyst, Trust Asset Management Ltd. Private Limited MMS (Finance) - Sydenham May 2023 - March 2025 Institute of Senior Manager, HDFC Bank Limited Management December 2021 - May 2023 Studies, Analyst, India Ratings & Research Mumbai December 2019 - December 2021 University Analyst, BA Continuum India August 2018 - October 2019 Associate Vice President, Growthally Advisors June 2017 - July 2018 Wealth Manager, ICICI Securities (SAI) Brief experience III. SERVICE PROVIDERS 1. CUSTODIAN
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.
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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 TRUSTMF Arbitrage Fund?
As of 05 Oct 2026, the NAV of TRUSTMF Arbitrage Fund is ₹10.71 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.
What returns has TRUSTMF Arbitrage Fund delivered?
TRUSTMF Arbitrage Fund has returned +6.52% over 1 year and +6.47% 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 TRUSTMF Arbitrage Fund?
TRUSTMF Arbitrage Fund charges an expense ratio of 1.42% 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 TRUSTMF Arbitrage Fund?
TRUSTMF Arbitrage Fund's largest holdings are TRUSTMF Liquid Fund-Direct Plan-Growth (17.5%), Canara Bank (7.0%), HDFC Bank Limited (6.8%), Axis Bank Limited (6.1%) and Kalyan Jewellers India Limited (3.3%). Holdings are disclosed monthly and change over time.
How risky is TRUSTMF Arbitrage Fund?
TRUSTMF Arbitrage Fund is rated moderately high on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 1.3% 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 TRUSTMF Arbitrage Fund?
TRUSTMF Arbitrage Fund is benchmarked against the Nifty 50 Arbitrage Index. Its alpha and beta on this page are measured against that index.
Who manages TRUSTMF Arbitrage Fund?
TRUSTMF Arbitrage Fund is managed by Mihir Vora and Bhavin Hemani at Trust.
How is TRUSTMF Arbitrage Fund taxed?
TRUSTMF 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.