August 20, 2022
mayank
L&T Overnight Fund Guidance
NAV Growth : Rs 1,686.0131
NAV IDCW Weekly : Rs 1,001.8400
Suitable For Which Investors ?
“Overnight funds invest in bonds having a maturity of just one day. They are suitable to earn a little extra on idle money lying in the bank. You may invest in these funds the money that you have set aside to meet any emergency needs or any surplus money that you don’t need for a few days up to a year.
The risk of incurring a loss in these funds is negligible but they do not guarantee returns or safety of capital.
Remember, these funds are geared to deliver only marginally higher returns than your bank account. They deliver steady, but low returns and are not suitable to build wealth in the long run.”
Fund’s Investment Strategy :
The scheme aims to deliver reasonable returns with lower volatility and higher liquidity through a portfolio of debt and money market instruments. It may invest up to 100 per cent of its assets in derivatives for hedging and portfolio balancing purposes.
Fund Manager :
— Mahesh A Chhabria
Education : Mr. Chhabria is a Commerce Graduate and has also pursued FCA and CFA.
Experience : He comes to L&T AMC from Fidelity where he has been for the last 3 years, was previously associated with Birla Sun Life AMCwith RSM & Co.
— Shriram Ramanathan
Education : Shriram is a B.E. (Electrical), PGDBM from XLRI Jamshedpur and CFA.
Experience : Prior to joining L&T Mutual Fund he has worked with FIL Fund Management Pvt. Ltd., ING Investment Management, Zurich Asset Management Co., ICICI Ltd., and L&T Ltd.
Investment Details
| Min. Investment (Rs) | 10,000 |
| Min. Addl Investment (Rs) | 1,000 |
| Min. SIP Investment (Rs) | 1,000 |
| Min. No of Cheques | 6 |
| Min. Withdrawal (Rs) | 1,000 |
| Min. Balance (Rs) | 1,000 |
| Lock-in Period | Not Applicable |
| Exit Load | 0 |
Basic Details
| Fund House: | L&T Mutual Fund |
| Launch Date: | 01-Jan-13 |
| Return Since Launch: | 6.28% |
| Benchmark: | NIFTY 1D Rate Index |
| Riskometer: | Low |
| Type: | Open-ended |
| Assets: | Rs 2,294 Cr |
| (As on 31-Jul-2022) | |
| Expense Ratio: | 0.10% |
| (As on 31-Jul-2022) | |
| Risk Grade: | — |
| Return Grade: | Average |
L&T Overnight Fund Guidance Trailing Returns (%)
| YTD | 1-Day | 1-W | 1-M | 3-M | 6-M | 1-Y | 3-Y | 5-Y | 7-Y | 10-Y | |
| L&T Overnight Direct-G | 2.52 | 0.01 | 0.1 | 0.42 | 1.16 | 2.03 | 3.73 | 3.66 | 4.69 | 5.36 | — |
| CCIL T Bill Liquidity Weight | 1.29 | 0.04 | 0.01 | 0.27 | 0.74 | 1 | 2.03 | 2.61 | 3.26 | 3.63 | — |
| Debt: Overnight | 2.52 | 0.01 | 0.1 | 0.42 | 1.17 | 2.04 | 3.74 | 3.66 | 4.64 | 5.22 | — |
| Rank within category | 20 | 31 | 21 | 18 | 24 | 22 | 19 | 13 | 1 | 1 | — |
| Number of funds in category | 29 | 31 | 31 | 30 | 30 | 30 | 29 | 22 | 3 | 3 | 0 |
L&T Overnight Fund Guidance Peer Comparison
| Fund name | Rating | Launch Date | 1-Year Return | 3-Year Return | 5-Year Return | Expense Ratio | Assets (Cr) |
| L&T Overnight Fund | 3 star | Jan-13 | 3.73 | 3.66 | 4.69 | 0.1 | 2,294 |
| Aditya Birla Sun Life Overnight Fund | 4 star | Nov-18 | 3.75 | 3.67 | — | 0.08 | 15,421 |
| Axis Overnight Fund | 4 star | Mar-19 | 3.77 | 3.68 | — | 0.04 | 10,814 |
| HSBC Overnight Fund | 5 star | May-19 | 3.79 | 3.71 | — | 0.11 | 735 |
| LIC MF Overnight Fund | 4 star | Jul-19 | 3.78 | 3.68 | — | 0.07 | 616 |
Portfolio Breakup
| Fund | 1Y High | 1Y Low | Category | |
| Number of Securities | 2 | 3 | 1 | 2 |
| Modified Duration (yrs) | 0 | 0.01 | 0 | — |
| Average Maturity (yrs) | 0 | 0.01 | 0 | — |
| Yield to Maturity (%) | 5.08 | 5.08 | 3.17 | 5.03 |
| Avg Credit Rating | — | — | — |
L&T Overnight Fund Guidance by Chanakya :
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