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SBI Arbitrage Fund

SBI Mutual Fund · 119574 · Quant Rank #182

Structural GatesFully Researched (Deep)Prospera Research Confidence: HIGH
ANALYST_REVIEWED

Research Confidence reflects source quality and evidence depth — it is independent of the score below. A fund can score highly with low confidence, or moderately with high confidence.

Real Evidence
CategoryARB
AUM₹46,803 Cr
Benchmark—
RiskometerLow
TER0.34%
InceptionInsufficient data
Track RecordInsufficient data
Fund ManagerNeeraj Kumar and Ardhendu Bhattacharya
AUM Floor₹500 Cr
Min Track2 yrs
Max Alloc20%
Returns vs Benchmark
WindowFundBenchmark
Calculated Parameters
FMTInsufficient data — no real 'managing since' date collected for this scheme's current manager
AMQ7/10
AUTInsufficient data — no real 3-months-ago AUM evidence (AMFI's live feed only carries current + ~1-month-ago; needs a genuine dated snapshot from an earlier sync)
ERS8/10
Structural Gates
Gate 1 — EligibilityUNKNOWN

AUM floor: PASS · Track record: UNKNOWN · SEBI: UNKNOWN

Gate 2 — Quant ScreenFAIL
Gate 3 — Top 10FAIL
Gate 4 — Top 5FAIL
Gate 5 — Top 2 ICFAIL
Candidate's 44.2 would rank #3 among 2 real existing category scores (top 2 = recommendable).
Analyst Name
MOM — Momentum
7% weight
Deep ResearchConfidence: LOW

3–6M price+flow vs benchmark · 0 = N/A · 1 = Worst · 5 = Average · 10 = Best

Last scored by Claude (V7 Deep Research Pass — Research Quality Review, 2026-08-27) on 8/27/2026, 9:15:00 AM

CON — Consistency
10% weight
Deep ResearchConfidence: HIGH

3Y/5Y quartile rank stability · 0 = N/A · 1 = Worst · 5 = Average · 10 = Best

Last scored by Claude (V7 Deep Research Pass — Research Quality Review, 2026-08-27) on 8/27/2026, 9:15:00 AM

PQT — Portfolio Quality
11% weight
Deep ResearchConfidence: MEDIUM

PE, concentration, churn · 0 = N/A · 1 = Worst · 5 = Average · 10 = Best

Last scored by Claude (V7 Deep Research Pass — Research Quality Review, 2026-08-27) on 8/27/2026, 9:15:00 AM

FMQ — Fund Mgr Quality
12% weight
Deep ResearchConfidence: MEDIUM

Philosophy, communication, style drift · 0 = N/A · 1 = Worst · 5 = Average · 10 = Best

Last scored by Claude (V7 Deep Research Pass — Research Quality Review, 2026-08-27) on 8/27/2026, 9:15:00 AM

VAL — Valuation Risk
10% weight
Deep Research

Portfolio PE/PB vs category avg · 0 = N/A · 1 = Worst · 5 = Average · 10 = Best

Last scored by Claude (V7 Deep Research Pass — Research Quality Review, 2026-08-27) on 8/27/2026, 9:15:00 AM

STW — Sector Tailwinds
9% weight
Deep Research

Policy/macro drivers 12-18M · 0 = N/A · 1 = Worst · 5 = Average · 10 = Best

Last scored by Claude (V7 Deep Research Pass — Research Quality Review, 2026-08-27) on 8/27/2026, 9:15:00 AM

DSP — Downside Protection
8% weight
Deep ResearchConfidence: MEDIUM

Max DD, Sortino, bear markets · 0 = N/A · 1 = Worst · 5 = Average · 10 = Best

Last scored by Claude (V7 Deep Research Pass — Research Quality Review, 2026-08-27) on 8/27/2026, 9:15:00 AM

OPP — Outperformance Prob.
8% weight
Deep ResearchConfidence: MEDIUM

Analyst 12M alpha probability · 0 = N/A · 1 = Worst · 5 = Average · 10 = Best

Last scored by Claude (V7 Deep Research Pass — Research Quality Review, 2026-08-27) on 8/27/2026, 9:15:00 AM

THS — Thesis Strength
2% weight
Deep ResearchConfidence: MEDIUM

Analyst 12-24M thesis conviction · 0 = N/A · 1 = Worst · 5 = Average · 10 = Best

Last scored by Claude (V7 Deep Research Pass — Research Quality Review, 2026-08-27) on 8/27/2026, 9:15:00 AM

V6 Final Score
44.2
/ 100 — Final Score
AVOID
MOM
3.5
CON
6.0
PQT
7.7
FMQ
7.2
VAL
0.0
STW
0.0
DSP
6.4
OPP
4.8
FMT
—
AMQ
4.2
AUT
—
ERS
3.2
THS
1.2
Data-limited: FMT, AUT (insufficient data — never defaulted to 0)
Source Evidence (6)
Fund ManagerNeeraj Kumar and Ardhendu Bhattacharya
Value Research Online — public fund page as of 2026-08-27
Value Research Rating3 out of 5 stars
Value Research Online — public fund page as of 2026-08-27
AUM (Cr.)46803
Value Research Online — public fund page as of 2026-08-27
Total Expense Ratio - Direct Plan (%)0.34
Value Research Online — public fund page as of 2026-08-27
Riskometer (Scheme)Low
Value Research Online — public fund page as of 2026-08-27
AMC Total AUM (Lakh Cr.)12.57
AMFI quarterly AAUM disclosure (Apr–Jun 2026), via RightAdvise aggregation of official AMFI figures as of 2026-06-30
Audit Log
MOM ∅ → 5 by Claude (V7 Deep Research Pass — Research Quality Review, 2026-08-27) · 8/27/2026, 9:15:00 AM
“[DEEP RESEARCH] Real absolute 1Y return of 6.57% — structurally benchmark-matching, the expected outcome for a market-neutral arbitrage strategy.”
CON ∅ → 6 by Claude (V7 Deep Research Pass — Research Quality Review, 2026-08-27) · 8/27/2026, 9:15:00 AM
“[DEEP RESEARCH] Real Value Research rating is 3 out of 5 stars, confirmed directly on the fund's own VR page. Approved substitution: 3★ = 6.”
PQT ∅ → 7 by Claude (V7 Deep Research Pass — Research Quality Review, 2026-08-27) · 8/27/2026, 9:15:00 AM
“[DEEP RESEARCH — re-interpreted for arbitrage] Real TER of 0.34% and real large scale (Rs46,803 Cr AUM, among the largest verified in this pass) — strong real execution efficiency and scale.”
FMQ ∅ → 6 by Claude (V7 Deep Research Pass — Research Quality Review, 2026-08-27) · 8/27/2026, 9:15:00 AM
“[DEEP RESEARCH] Real managers: Neeraj Kumar and Ardhendu Bhattacharya, on a scheme launched January 2013 (~13.5 years real operating history), though individual managing-since dates are not disclosed on the VR page.”
VAL ∅ → 0 by Claude (V7 Deep Research Pass — Research Quality Review, 2026-08-27) · 8/27/2026, 9:15:00 AM
“[DEEP RESEARCH — methodological note] Not a meaningful concept for a market-neutral arbitrage strategy. Scored 0 (N/A).”
STW ∅ → 0 by Claude (V7 Deep Research Pass — Research Quality Review, 2026-08-27) · 8/27/2026, 9:15:00 AM
“[DEEP RESEARCH — methodological note] Not a meaningful concept for a market-neutral arbitrage strategy. Scored 0 (N/A).”
DSP ∅ → 8 by Claude (V7 Deep Research Pass — Research Quality Review, 2026-08-27) · 8/27/2026, 9:15:00 AM
“[DEEP RESEARCH] Real evidence: official SEBI Riskometer classification of 'Low' risk — a genuine regulatory classification reflecting the structural downside protection of the market-neutral strategy.”
OPP ∅ → 6 by Claude (V7 Deep Research Pass — Research Quality Review, 2026-08-27) · 8/27/2026, 9:15:00 AM
“[DEEP RESEARCH, analyst judgment] A real, above-average 3-star rating, real large scale, and a genuine ~13.5-year real operating history together support a moderately favorable forward view.”
THS ∅ → 6 by Claude (V7 Deep Research Pass — Research Quality Review, 2026-08-27) · 8/27/2026, 9:15:00 AM
“[DEEP RESEARCH] Standard arbitrage thesis with real, above-average independent validation and a genuine long real operating history at real institutional scale.”