March 21, 2024
mayank
Franklin India Overnight Fund details, NAV, Portfolio, Returns, Peer Comparison, Fund Managers & Guidance by Chanakyamfguidance.com
NAV Growth: Rs 1,246.5349
Weekly NAV IDCW: Rs 1,000.5213
Daily NAV IDCW: Rs 1,000.0008
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 income along with high liquidity by investing in overnight securities having maturity of 1 business day. There can be no assurance that the investment objective of the scheme will be realized.
Fund Manager:
1) Pallab Roy
Education: Mr. Roy is a M.Com and MBA (Finance).
Experience: He has been associated with Franklin Templeton Investments since 2001.
2) Umesh Sharma
Education: Mr. Sharma is a B.Com (H), CS and CA.
Experience: Prior to joining Franklin Templeton Mutual Fund he has worked with ICICI Bank Ltd., UTI Mutual Fund, Invesco Mutual Fund and JM Financials.
Investment Details
| Min. Investment (Rs) | 5,000 |
| Min. Addl Investment (Rs) | 1,000 |
| Min. SIP Investment (Rs) | 500 |
| Min. Withdrawal (Rs) | 1,000 |
| Min. No of Cheques | 12 |
| Min. Balance (Rs) | 1,000 |
| Lock-in Period | NA |
| Exit Load | 0 |
Basic Details
| Fund House | Franklin Templeton Mutual Fund |
| Launch Date | 08-May-19 |
| Return Since Launch | 4.63% |
| Benchmark | CRISIL Liquid Overnight Index |
| Riskometer | Low |
| Type | Open-ended |
| Assets | Rs 385 Cr |
| (As on 29-Feb-2024) | |
| Expense | 0.11% |
| (As on 29-Feb-2024) | |
| Risk Grade | — |
| Return Grade | Low |
Trailing Returns (%) of Franklin India Overnight Fund
| Fund name | YTD | 1D | 1M | 3M | 6M | 1Y | 3Y | 5Y | 7Y | 10Y |
| Franklin India Overnight Dir | 1.44 | 0.02 | 0.51 | 1.64 | 3.34 | 6.74 | 5.07 | — | — | — |
| CCIL T Bill Liquidity Weight | 1.00 | 0.02 | 0.38 | 1.14 | 2.30 | 4.71 | 3.21 | — | — | — |
| Debt: Overnight | 1.45 | 0.02 | 0.51 | 1.65 | 3.37 | 6.79 | 5.11 | — | — | — |
| Rank within category | 27 | 6 | 29 | 28 | 27 | 28 | 25 | — | — | — |
| Number of funds in category | 35 | 35 | 35 | 35 | 34 | 32 | 27 | 10 | 2 | 2 |
Peer Comparison of Franklin India 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 | |
| Franklin India Overnight Dir | 1 star | 6.74 | 5.07 | — | 0.11 | 385 | 4.63 | — | 4Y 10M |
| Axis Overnight Dir | 5 star | 6.83 | 5.16 | 4.77 | 0.05 | 10,499 | 4.78 | — | 5Y |
| Kotak Overnight Dir | 4 star | 6.81 | 5.13 | 4.74 | 0.08 | 7,189 | 4.79 | — | 5Y 2M |
| ABSL Overnight Dir | 4 star | 6.81 | 5.14 | 4.75 | 0.08 | 6,474 | 4.88 | — | 5Y 4M |
| Nippon India Overnight Dir | 4 star | 6.82 | 5.14 | 4.77 | 0.08 | 5,745 | 4.86 | — | 5Y 3M |
Portfolio Breakup
| Fund | Category | |
| Number of Securities | 3 | 3 |
| Macaulay Duration (yrs) | 0.00 | — |
| Average Maturity (yrs) | 0.00 | — |
| Yield to Maturity (%) | 6.70 | 6.68 |
| Avg Credit Rating | — |
How to Invest in Franklin India Overnight Fund?
Chanakya’s Mutual Fund Guidance For Franklin India Overnight Fund
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