July 12, 2022
mayank
ICICI Prudential Overnight Fund Guidance
NAV Growth : Rs 115.9123
NAV IDCW Yearly : Rs 102.4131
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 :
— Nikhil Kabra
Education : Mr. Kabra is a B.Com and Chartered Accountant.
Experience : Prior to joining ICICI Prudential AMC from September 25, 2013 he was associated with Sumedha Fiscal Services Limited from October 2012 to September 2013 and Haribhakti & Co. from September 2010 to October 2012.
— Rahul Goswami
Education : Mr. Goswami is a B. Sc (Mathematics and MBA (Finance)
Experience : Prior to joining ICICI Prudential AMC he has worked with UTI Bank Ltd. and Franklin Templeton Asset Management Pvt. Ltd.
— Rohan Maru
Education : Mr. Maru is M.Com and MBA in Finance.
Experience : Prior to joining ICICI Prudential Mutual Fund, he has worked with Kotak Mahindra AMC as Fixed Income Dealer and Integreon Managed Solutions as a Research Associate.
Investment Details
| Min. Investment (Rs) | 100 |
| Min. Addl Investment (Rs) | 1 |
| Min. SIP Investment (Rs) | 500 |
| Min. No of Cheques | 6 |
| Min. Withdrawal (Rs) | 1 |
| Min. Balance (Rs) | — |
| Lock-in Period | Not Applicable |
| Exit Load | 0 |
Basic Details
| Fund House: | ICICI Prudential Mutual Fund |
| Launch Date: | 15-Nov-18 |
| Return Since Launch: | 4.12% |
| Benchmark: | CRISIL Overnight Fund AI Index |
| Riskometer: | Low |
| Type: | Open-ended |
| % Assets: | Rs 13,781 Cr |
| (As on 30-Jun-2022) | |
| Expense: | 0.10% |
| (As on 31-May-2022) | |
| Risk Grade: | — |
| Return Grade: | Average |
ICICI Prudential Overnight Fund Guidance Trailing Returns (%)
| YTD | 1-Day | 1-W | 1-M | 3-M | 6-M | 1-Y | 3-Y | 5-Y | 7-Y | 10-Y | |
| ICICI Pru Overnight Fund Direct-G | 1.98 | 0.01 | 0.09 | 0.39 | 1.03 | 1.88 | 3.53 | 3.66 | — | — | — |
| CCIL T Bill Liquidity Weight | 0.96 | -0.03 | 0.06 | 0.23 | 0.42 | 0.93 | 1.96 | 2.66 | — | — | — |
| Debt: Overnight | 1.98 | 0.01 | 0.09 | 0.38 | 1.04 | 1.88 | 3.53 | 3.67 | — | — | — |
| Rank within category | 18 | 24 | 19 | 6 | 17 | 18 | 20 | 14 | — | — | — |
| Number of funds in category | 29 | 30 | 30 | 30 | 30 | 29 | 29 | 18 | 3 | 3 | 0 |
ICICI Prudential Overnight Fund Guidance Peer Comparison
| Fund name | Rating | Launch Date | 1-Year Return | 3-Year Return | 5-Year Return | Expense Ratio | Assets (Cr) |
| ICICI Prudential Overnight Fund | 3 star | Nov-18 | 3.53 | 3.66 | — | 0.10% | 13,781 |
| Aditya Birla Sun Life Overnight Fund | 4 star | Nov-18 | 3.55 | 3.69 | — | 0.06% | 12,067 |
| Axis Overnight Fund | 4 star | Mar-19 | 3.57 | 3.7 | — | 0.04% | 11,357 |
| HSBC Overnight Fund | 5 star | May-19 | 3.59 | 3.72 | — | 0.11% | 912 |
| Mirae Asset Overnight Fund | 5 star | Oct-19 | 3.58 | — | — | 0.11% | 712 |
Portfolio Breakup
| Fund | 1Y High | 1Y Low | Category | |
| Number of Securities | 4 | 5 | 1 | 2 |
| Modified Duration (yrs) | 0 | 0.01 | 0 | — |
| Average Maturity (yrs) | 0 | 0.01 | 0 | — |
| Yield to Maturity (%) | 4.18 | 4.18 | 3.11 | — |
| Avg Credit Rating | — | — | — |
ICICI Prudential Overnight Fund Guidance by Chanakya :
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