March 11, 2024
mayank
Edelweiss Overnight Fund details, NAV, Portfolio, Returns, Peer Comparison, Fund Managers & Guidance by Chanakyamfguidance.com
NAV Growth: Rs 1,235.4213
Yearly NAV IDCW: Rs 1,235.8542
Monthly NAV IDCW: Rs 1,060.1110
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 returns commensurate with risk of investments in overnight instruments.
Fund Manager:
1) Pranavi Kulkarni
Education: Ms. Kulkarni is a BE Computer Science, MBA Finance
Experience: Prior to joining Edelweiss Mutual Fund, she has worked with CRISIL Ltd. and Yes Bank.
2) Rahul Dedhia
Education: Mr. Dedhia is a B.E. (Electronics) and also holds a PGeMBA – Finance.
Experience: Prior to joining Edelweiss Mutual Fund, he has worked with PGIM India Mutual Fund as Assistant Fund Manager.
Investment Details
| Min. Investment (Rs) | 100 |
| Min. Addl Investment (Rs) | 100 |
| Min. SIP Investment (Rs) | 100 |
| Min. Withdrawal (Rs) | 1 |
| Min. No of Cheques | 6 |
| Min. Balance (Rs) | 500 |
| Lock-in Period | NA |
| Exit Load | 0 |
Basic Details
| Fund House | Edelweiss Mutual Fund |
| Launch Date | 23-Jul-19 |
| Return Since Launch | 4.66% |
| Benchmark | NIFTY 1D Rate Index |
| Riskometer | Low |
| Type | Open-ended |
| Assets | Rs 220 Cr |
| (As on 29-Feb-2024) | |
| Expense | 0.09% |
| (As on 31-Jan-2024) | |
| Risk Grade | — |
| Return Grade | Below Average |
Trailing Returns (%) of Edelweiss Overnight Fund
| Fund name | YTD | 1D | 1M | 3M | 6M | 1Y | 3Y | 5Y | 7Y | 10Y |
| Edelweiss Overnight Dir | 1.21 | 0.02 | 0.52 | 1.66 | 3.37 | 6.77 | 5.03 | — | — | — |
| CCIL T Bill Liquidity Weight | 0.90 | 0.06 | 0.44 | 1.32 | 2.35 | 4.81 | 3.20 | — | — | — |
| Debt: Overnight | 1.21 | 0.02 | 0.52 | 1.66 | 3.37 | 6.78 | 5.07 | — | — | — |
| Rank within category | 22 | 28 | 21 | 23 | 21 | 23 | 24 | — | — | — |
| Number of funds in category | 35 | 35 | 35 | 35 | 34 | 32 | 27 | 9 | 2 | 2 |
Peer Comparison of Edelweiss 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 | |
| Edelweiss Overnight Dir | 2 star | 6.77 | 5.03 | — | 0.09 | 220 | 4.66 | — | 4Y 7M |
| Axis Overnight Dir | 5 star | 6.82 | 5.11 | — | 0.05 | 10,499 | 4.76 | — | 4Y 11M |
| Kotak Overnight Dir | 4 star | 6.80 | 5.09 | 4.73 | 0.08 | 7,189 | 4.78 | — | 5Y 1M |
| ABSL Overnight Dir | 4 star | 6.80 | 5.10 | 4.75 | 0.08 | 6,474 | 4.86 | — | 5Y 4M |
| Nippon India Overnight Dir | 4 star | 6.81 | 5.10 | 4.77 | 0.08 | 5,745 | 4.84 | — | 5Y 2M |
Portfolio Breakup
| Fund | Category | |
| Number of Securities | — | 2 |
| Macaulay Duration (yrs) | 0.00 | — |
| Average Maturity (yrs) | 0.00 | — |
| Yield to Maturity (%) | 6.75 | 6.75 |
| Avg Credit Rating | Cash | — |
How to Invest in Edelweiss Overnight Fund?
Chanakya’s Mutual Fund Guidance For Edelweiss Overnight Fund
Apply Online: https://invest.edelweissmf.com/home?distributoruuid=b9111455-759f-4eb8-bc2a-13927f656230
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