August 21, 2024
mayank
ITI Overnight Fund details, NAV, Portfolio, Returns, Peer Comparison, Fund Managers & Guidance by Chanakyamfguidance.com
NAV Growth: Rs 1,247.1456
Monthly NAV IDCW: Rs 1,005.2263
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) Vikrant Mehta
Education: Mr. Mehta is CFA and M.S.
Experience: Prior to joining ITI Mutual Fund, he has worked with Indiabulls AMC, Kotak Mahindra Mutual Fund, AIG India Liaison Office, NVS Brokerage Pvt. Ltd., JM Morgan Stanley Fixed Income Securities Pvt. Ltd. and Mata Securities India Pvt. Ltd.
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) | — |
| Lock-in Period | NA |
| Exit Load | 0 |
Basic Details of ITI Overnight Fund
| Fund House | ITI Mutual Fund |
| Launch Date | 25-Oct-19 |
| Return Since Launch | 4.68% |
| Benchmark | CRISIL Liquid Overnight Index |
| Riskometer | Low |
| Type | Open-ended |
| Assets | Rs 53 Cr |
| (As on 31-Jul-2024) | |
| Expense | 0.08% |
| (As on 31-Jul-2024) | |
| Risk Grade | — |
| Return Grade | Low |
Trailing Returns (%) of ITI Overnight Fund
| Fund name | YTD | 1D | 1M | 3M | 6M | 1Y | 3Y | 5Y | 7Y | 10Y |
| ITI Overnight Dir | 4.11 | 0.02 | 0.52 | 1.59 | 3.18 | 6.59 | 5.46 | — | — | — |
| CCIL T Bill Liquidity Weight | 3.05 | -0.01 | 0.42 | 1.29 | 2.42 | 4.72 | 3.59 | — | — | — |
| Debt: Overnight | 4.23 | 0.02 | 0.54 | 1.63 | 3.27 | 6.80 | 5.60 | — | — | — |
| Rank within category | 34 | 33 | 33 | 33 | 34 | 33 | 26 | — | — | — |
| Number of funds in category | 35 | 35 | 35 | 35 | 35 | 34 | 27 | 21 | 2 | 2 |
Peer Comparison of ITI 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 | |
| ITI Overnight Dir | 1 star | 6.59 | 5.46 | — | 0.08 | 53 | 4.68 | — | 4Y 9M |
| Nippon India Overnight Dir | 4 star | 6.83 | 5.64 | 4.83 | 0.08 | 9,114 | 4.99 | — | 5Y 8M |
| Axis Overnight Dir | 5 star | 6.84 | 5.65 | 4.84 | 0.05 | 8,181 | 4.93 | — | 5Y 5M |
| ABSL Overnight Dir | 4 star | 6.82 | 5.63 | 4.82 | 0.08 | 7,080 | 5.01 | — | 5Y 9M |
| Kotak Overnight Dir | 4 star | 6.82 | 5.63 | 4.81 | 0.08 | 5,475 | 4.94 | — | 5Y 7M |
Portfolio Breakup
| Fund | Category | |
| Number of Securities | — | 3 |
| Macaulay Duration (yrs) | 0.00 | — |
| Average Maturity (yrs) | 0.00 | — |
| Yield to Maturity (%) | 6.40 | 6.45 |
| Avg Credit Rating | Cash | — |
Chanakya’s Mutual Fund Guidance For ITI Overnight Fund
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