August 11, 2023
mayank
Sundaram Overnight Fund details, NAV, Portfolio, Returns, Peer Comparison, Fund Managers & Guidance by Chanakyamfguidance.com
NAV Growth: Rs 1,219.2502
Weekly NAV IDCW: Rs 1,049.3596
Monthly NAV IDCW: Rs 1,046.6400
NAV IDCW Fortnightly: Rs 1,065.9239
Daily NAV IDCW: Rs 1,000.0300
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 seeks to generate income by investing in debt, money market instruments, cash and cash equivalents with overnight maturity /maturing in one business day.
Fund Manager:
1) Dwijendra Srivastava
Education: Mr. Srivastava is B.Tech , PGDM (Finance) and CFA.
Experience: Prior to joining Sundaram Mutual Fund he has worked with PGIM India Mutual Fund, JM Financial AMC, Tata AMC Private Ltd., Tower Capital and Securities, Indo Swiss Financial and Gontermann Pipers.
2) Sandeep Agarwal
Education: Mr. Agarwal is a B.Com (H) from University of Kota, Chartered Accountant and CS.
Experience: Prior to joining Sundaram Mutual Fund he has worked with Deutsche AMC.
Investment Details
| Min. Investment (Rs) | 5,000 |
| Min. Addl Investment (Rs) | 1,000 |
| Min. SIP Investment (Rs) | 1,000 |
| Min. Withdrawal (Rs) | 1,000 |
| Min. No of Cheques | 6 |
| Min. Balance (Rs) | 1 |
| Lock-in Period | NA |
| Exit Load | 0 |
Basic Details of Sundaram Overnight Fund
| Fund House | Sundaram Mutual Fund |
| Launch Date | 20-Mar-19 |
| Return Since Launch | 4.61% |
| Benchmark | NIFTY 1D Rate Index |
| Riskometer | Low |
| Type | Open-ended |
| Assets | Rs 1,092 Cr |
| (As on 31-Jul-2023) | |
| Expense | 0.09% |
| (As on 30-Jun-2023) | |
| Risk Grade | — |
| Return Grade | Below Average |
Sundaram Overnight Fund Trailing Returns (%)
| Fund name | YTD | 1D | 1M | 3M | 6M | 1Y | 3Y | 5Y | 7Y | 10Y |
| Sundaram Overnight Dir | 3.94 | 0.02 | 0.54 | 1.62 | 3.23 | 6.28 | 4.32 | — | — | — |
| CCIL T Bill Liquidity Weight | 2.65 | 0.03 | 0.38 | 1.23 | 2.28 | 4.07 | 2.74 | — | — | — |
| Debt: Overnight | 3.94 | 0.02 | 0.54 | 1.62 | 3.23 | 6.27 | 4.34 | — | — | — |
| Rank within category | 17 | 22 | 20 | 21 | 14 | 17 | 22 | — | — | — |
| Number of funds in category | 32 | 34 | 33 | 32 | 32 | 29 | 27 | 3 | 2 | 2 |
Sundaram Overnight Fund Peer Comparison
| Rating | 1 Year Returns | 3 Year Returns | 5 Year Returns | Expense Ratio (%) | Net Assets (Rs Cr) | Return Since Launch (%) | Exit Load (Days) | Fund Age | |
| Sundaram Overnight Dir | 2 star | 6.28 | 4.32 | — | 0.09 | 1,092 | 4.61 | — | 4Y 4M |
| ABSL Overnight Dir | 4 star | 6.30 | 4.37 | — | 0.07 | 10,111 | 4.63 | — | 4Y 9M |
| Kotak Overnight Dir | 4 star | 6.31 | 4.35 | — | 0.08 | 10,004 | 4.52 | — | 4Y 6M |
| Axis Overnight Dir | 5 star | 6.33 | 4.38 | — | 0.05 | 8,018 | 4.49 | — | 4Y 4M |
| Nippon Ind Overnight Dir | 4 star | 6.32 | 4.37 | — | 0.08 | 7,415 | 4.59 | — | 4Y 7M |
Portfolio Breakup
| Fund | Category | |
| Number of Securities | 5 | 3 |
| Macaulay Duration (yrs) | 0.00 | 0.01 |
| Average Maturity (yrs) | 0.00 | 0.01 |
| Yield to Maturity (%) | 6.77 | 6.76 |
| Avg Credit Rating | GOI/Cash | — |
Chanakya’s Mutual Fund Guidance For Sundaram Overnight Fund
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