December 18, 2023
mayank
Axis Overnight Fund details, NAV, Portfolio, Returns, Peer Comparison, Fund Managers & Guidance by Chanakyamfguidance.com
Current NAV:
NAV Growth: Rs 1,242.5554
Weekly NAV IDCW: Rs 1,001.7977
NAV IDCW Monthly: Rs 1,004.3319
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 provide reasonable returns commensurate with very low interest rate risk and providing a high level of liquidity, through investments made primarily in overnight securities having maturity/residual maturity of 1 business day.
Fund Manager:
1) Aditya Pagaria
Education: Mr. Pagaria is a Bachelor in Management Studies and holds a Post Graduate Diploma in Business Management from Institute Of Technology And Management, SK Somaiya College.
Experience: Prior to joining Axis AMC he was associated with ICICI Prudential AMC (Nov 2011-Jul 2016) as Fund Manager – Fixed Income Operations.
2) Sachin Jain
Education: Mr. Jain is a B.Tech, AGMP (Management)
Experience: Prior to joining Axis Asset Management Company Ltd., he has worked with Sundaram Mutual Fund, I- Cap, Sunidhi securities and Finance Ltd.
Investment Details
| Min. Investment (Rs) | 500 |
| Min. Addl Investment (Rs) | 500 |
| Min. SIP Investment (Rs) | — |
| Min. Withdrawal (Rs) | — |
| Min. No of Cheques | — |
| Min. Balance (Rs) | 1 |
| Lock-in Period | NA |
| Exit Load | 0 |
Basic Details of Axis Overnight Fund
| Fund House | Axis Mutual Fund |
| Launch Date | 15-Mar-19 |
| Return Since Launch | 4.67% |
| Benchmark | NIFTY 1D Rate Index |
| Riskometer | Low |
| Type | Open-ended |
| Assets | Rs 9,846 Cr |
| (As on 30-Nov-2023) | |
| Expense | 0.05% |
| (As on 30-Nov-2023) | |
| Risk Grade | — |
| Return Grade | High |
Axis Overnight Fund Trailing Returns (%)
| Fund name | YTD | 1D | 1M | 3M | 6M | 1Y | 3Y | 5Y | 7Y | 10Y |
| Axis Overnight Dir | 6.45 | 0.02 | 0.55 | 1.69 | 3.36 | 6.71 | 4.84 | — | — | — |
| CCIL T Bill Liquidity Weight* | 4.23 | 0.07 | 0.44 | 1.11 | 2.24 | 4.47 | 2.99 | — | — | — |
| Debt: Overnight* | 6.38 | 0.02 | 0.55 | 1.68 | 3.35 | 6.67 | 4.79 | — | — | — |
| Rank within category | 4 | 14 | 15 | 6 | 9 | 6 | 3 | — | — | — |
| Number of funds in category | 32 | 35 | 35 | 34 | 32 | 32 | 27 | 5 | 2 | 2 |
Peer Comparison of Axis Overnight Fund
| Rating | 1 Year Returns | 3 Year Returns | 5 Year Returns | Expense Ratio (%) | Net Assets (Rs Cr) | Return Since Launch (%) | Exit Load (Days) | Fund Age | |
| Axis Overnight Dir | 5 star | 6.71 | 4.84 | — | 0.05 | 9,846 | 4.67 | — | 4Y 9M |
| Nippon Ind Overnight Dir | 4 star | 6.70 | 4.82 | — | 0.08 | 8,534 | 4.75 | — | 5Y |
| ABSL Overnight Dir | 4 star | 6.69 | 4.82 | 4.73 | 0.08 | 8,144 | 4.78 | — | 5Y 1M |
| Kotak Overnight Dir | 4 star | 6.71 | 4.81 | — | 0.08 | 6,399 | 4.69 | — | 4Y 11M |
| HSBC Overnight Dir | 4 star | 6.71 | 4.82 | — | 0.06 | 3,275 | 4.59 | — | 4Y 6M |
Portfolio Breakup
| Fund | Category | |
| Number of Securities | 4 | 3 |
| Macaulay Duration (yrs) | 0.00 | — |
| Average Maturity (yrs) | 0.00 | — |
| Yield to Maturity (%) | 6.76 | 6.78 |
| Avg Credit Rating | GOI/Cash | — |
How to Invest in Axis Overnight Fund?
Chanakya’s Mutual Fund Guidance For Axis Overnight Fund
Apply Online: https://www.axismf.com/mutual-funds
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