February 12, 2025
mayank
JM Overnight Fund details, NAV, Portfolio, Returns, Peer Comparison, Fund Managers & Guidance by sahifund.com
NAV Growth: Rs 1,285.5021
Weekly NAV IDCW: Rs 1,000.0000
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) Killol Pandya
Education: Mr. Pandya is a B.Com (H) from N.M College of Commerce, DPCM from ICFAI and MMS (Finance) from K.J. Somaiya Institute of Management Studies and Research.
Experience: Prior to joining JM Financial Asset Management Limited he has worked with Barclays Securities India Private Ltd,Peerless Funds Management Co. Limited, LIC Nomura Mutual Fund AMC , Daiwa Asset Management (India) Pvt. Ltd., SBI Funds Management Pvt Ltd., IL&FS Investsmart Ltd. and Darashaw & Co. Pvt. Ltd.
2) Naghma Khoja
Education: She is B.Com, CA and CFA
Experience: Before joining JM Financial AMC, she was associated with Karvy Capital Limited.
3) Ruchi Fozdar
Education: Ms. Ruchi is a graduate in science and PGDBM in finance
Experience: Prior to joining JM Mutual Fund, she was associated with few brokers and institutions like Reliance Life Insurance Co. Ltd. and Mahindra Manulife Mutual Fund
Investment Details
| Min. Investment (Rs) | 1,000 |
| Min. Addl Investment (Rs) | 100 |
| Min. SIP Investment (Rs) | 100 |
| Min. Withdrawal (Rs) | — |
| Min. No of Cheques | 12 |
| Min. Balance (Rs) | — |
| Lock-in Period | NA |
| Exit Load | 0 |
Basic Details of JM Overnight Fund
| Fund House | JM Financial Mutual Fund |
| Launch Date | 03-Dec-19 |
| Return Since Launch | 4.95% |
| Benchmark | CRISIL Liquid Overnight Index |
| Riskometer | Low |
| Type | Open-ended |
| Assets | Rs 105 Cr |
| (As on 31-Jan-2025) | |
| Expense | 0.08% |
| (As on 31-Jan-2025) | |
| Risk Grade | — |
| Return Grade | Below Average |
Trailing Returns (%) of JM Overnight Fund
| Fund name | YTD | 1D | 1M | 3M | 6M | 1Y | 3Y | 5Y | 7Y | 10Y |
| JM Overnight Dir | 0.74 | 0.02 | 0.54 | 1.64 | 3.26 | 6.63 | 6.11 | 4.95 | — | — |
| CCIL T Bill Liquidity Weight | 0.63 | 0.02 | 0.45 | 1.17 | 2.33 | 4.79 | 4.04 | 3.42 | — | — |
| Debt: Overnight | 0.74 | 0.02 | 0.55 | 1.64 | 3.28 | 6.68 | 6.14 | 4.96 | — | — |
| Rank within category | 26 | 29 | 29 | 27 | 28 | 27 | 22 | 18 | — | — |
| Number of funds in category | 34 | 34 | 34 | 34 | 34 | 34 | 28 | 27 | 2 | 2 |
Peer Comparison of JM 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 | |
| JM Overnight Dir | 2 star | 6.63 | 6.11 | 4.95 | 0.08 | 105 | 4.95 | — | 5Y 2M |
| Axis Overnight Dir | 5 star | 6.74 | 6.19 | 5.00 | 0.05 | 8,869 | 5.07 | — | 5Y 10M |
| Nippon India Overnight Dir | 4 star | 6.72 | 6.18 | 4.99 | 0.08 | 6,970 | 5.12 | — | 6Y 1M |
| Tata Overnight Dir | 4 star | 6.73 | 6.16 | 4.98 | 0.06 | 3,299 | 5.05 | — | 5Y 10M |
| HSBC Overnight Dir | 4 star | 6.71 | 6.16 | 4.98 | 0.06 | 3,087 | 5.02 | — | 5Y 8M |
Portfolio Breakup
| Fund | Category | |
| Number of Securities | 1 | 4 |
| Macaulay Duration (yrs) | 0.00 | — |
| Average Maturity (yrs) | 0.00 | — |
| Yield to Maturity (%) | 6.73 | 6.65 |
| Avg Credit Rating | Cash | — |
Chanakya’s Mutual Fund Guidance For JM Overnight Fund
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