February 23, 2024
mayank
Groww Overnight Fund details, NAV, Portfolio, Returns, Peer Comparison, Fund Managers & Guidance by Chanakyamfguidance.com
NAV Growth: Rs 1,227.0131
NAV IDCW Weekly: Rs 1,001.1952
Monthly NAV IDCW: Rs 1,005.5949
NAV IDCW Fortnightly: Rs 1,217.2072
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 low risk and providing a high level of liquidity, through investments made primarily in overnight securities having maturity of 1 business day.
Fund Manager:
1) Karan Singh
Education: Mr. Singh is B.A (Honours) in Economics, PGDBF & CFA – Level 1
Experience: Prior to joining Groww Mutual Fund (formerly Indiabulls Mutual Fund) he has worked with Taurus Corporate Advisory Services Ltd., DIOS Capital, Invesco Asset Management Company Ltd., Fidelity Investments and ICRA Ltd.
2) Kaustubh Sule
Education: Mr. Sule is a B.E. (Computer Engineering) & MBA (Finance)
Experience: Prior to joining Groww Mutual Fund (formerly, Indiabulls Mutual Fund), he has worked with Axis Asset Management Company Ltd. HDFC Standard Life Insurance Company Ltd., Reliance Life Insurance Company Ltd., Union Bank of India, Hexaware Technologies Ltd.
Investment Details
| Min. Investment (Rs) | 100 |
| Min. Addl Investment (Rs) | 100 |
| Min. SIP Investment (Rs) | 100 |
| Min. Withdrawal (Rs) | 100 |
| Min. No of Cheques | 12 |
| Min. Balance (Rs) | 500 |
| Lock-in Period | NA |
| Exit Load | 0 |
Basic Details
| Fund House | Groww Mutual Fund |
| Launch Date | 08-Jul-19 |
| Return Since Launch | 4.52% |
| Benchmark | CRISIL Liquid Overnight Index |
| Riskometer | Low |
| Type | Open-ended |
| Assets | Rs 75 Cr |
| (As on 31-Jan-2024) | |
| Expense | 0.08% |
| (As on 31-Jan-2024) | |
| Risk Grade | — |
| Return Grade | Low |
Trailing Returns (%) of Groww Overnight Fund
| Fund name | YTD | 1D | 1M | 3M | 6M | 1Y | 3Y | 5Y | 7Y | 10Y |
| Groww Overnight Dir | 0.96 | 0.02 | 0.56 | 1.68 | 3.39 | 6.51 | 4.87 | — | — | — |
| CCIL T Bill Liquidity Weight | 0.66 | 0.03 | 0.38 | 1.18 | 2.31 | 4.69 | 3.15 | — | — | — |
| Debt: Overnight | 0.96 | 0.02 | 0.56 | 1.69 | 3.41 | 6.76 | 5.03 | — | — | — |
| Rank within category | 28 | 29 | 24 | 29 | 26 | 32 | 27 | — | — | — |
| Number of funds in category | 35 | 35 | 35 | 35 | 34 | 32 | 27 | 9 | 2 | 2 |
Peer Comparison of Groww 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 | |
| Groww Overnight Dir | 1 star | 6.51 | 4.87 | — | 0.08 | 75 | 4.52 | — | 4Y 7M |
| Nippon India Overnight Dir | 4 star | 6.79 | 5.06 | 4.76 | 0.08 | 10,780 | 4.83 | — | 5Y 2M |
| Axis Overnight Dir | 5 star | 6.80 | 5.07 | — | 0.05 | 10,433 | 4.75 | — | 4Y 11M |
| ABSL Overnight Dir | 4 star | 6.78 | 5.05 | 4.75 | 0.08 | 8,689 | 4.85 | — | 5Y 3M |
| Kotak Overnight Dir | 4 star | 6.78 | 5.04 | 4.73 | 0.08 | 8,387 | 4.77 | — | 5Y 1M |
Portfolio Breakup
| Fund | Category | |
| Number of Securities | 2 | 3 |
| Macaulay Duration (yrs) | 0.00 | — |
| Average Maturity (yrs) | 0.00 | — |
| Yield to Maturity (%) | 6.76 | 6.75 |
| Avg Credit Rating | GOI/Cash | — |
How to Invest in Groww Overnight Fund?
Chanakya’s Mutual Fund Guidance For Groww Overnight Fund
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