October 9, 2023
mayank
LIC MF Overnight Fund details, NAV, Portfolio, Returns, Peer Comparison, Fund Managers & Guidance by Chanakyamfguidance.com
NAV Growth : Rs 1,202.1508
Weekly NAV IDCW: Rs 1,001.3108
NAV IDCW Periodic: Rs 1,201.8735
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/residual maturity of 1 business day.
Fund Manager:
1) Rahul Singh
Education : Mr. Singh is a B.Sc Economic Hons.and holds a PGDM from IIM-A.
Experience : Prior to joining LIC Nomura Mutual Fund , he has worked with BOI AXA Investment Managers(August 2009-August 2015) , ING Investment Management (May 2008- August 2009) Standard Chartered Bank (intern)( April 2007- May 2007) and Ashika Capital ( Jan 2004 – April 2006).
Investment Details
| Min. Investment (Rs) | 5,000 |
| Min. Addl Investment (Rs) | 500 |
| Min. SIP Investment (Rs) | 1,000 |
| Min. Withdrawal (Rs) | 500 |
| Min. No of Cheques | 12 |
| Min. Balance (Rs) | — |
| Lock-in Period | NA |
| Exit Load | 0 |
Basic Details of LIC MF Overnight Fund
| Fund House | LIC Mutual Fund |
| Launch Date | 18-Jul-19 |
| Return Since Launch | 4.45% |
| Benchmark | NIFTY 1D Rate Index |
| Riskometer | Low to Moderate |
| Type | Open-ended |
| Assets | Rs 770 Cr |
| (As on 30-Sep-2023) | |
| Expense | 0.07% |
| (As on 31-Aug-2023) | |
| Risk Grade | — |
| Return Grade | Above Average |
LIC MF Overnight Fund Trailing Returns (%)
| Fund name | YTD | 1D | 1M | 3M | 6M | 1Y | 3Y | 5Y | 7Y | 10Y |
| LIC MF Overnight Dir | 5.02 | 0.02 | 0.55 | 1.64 | 3.29 | 6.50 | 4.56 | — | — | — |
| CCIL T Bill Liquidity Weight | 3.27 | 0.03 | 0.35 | 1.02 | 2.20 | 4.26 | 2.83 | — | — | — |
| Debt: Overnight | 5.02 | 0.02 | 0.55 | 1.65 | 3.29 | 6.49 | 4.54 | — | — | — |
| Rank within category | 19 | 20 | 27 | 23 | 21 | 17 | 10 | — | — | — |
| Number of funds in category | 32 | 34 | 34 | 33 | 32 | 30 | 27 | 3 | 2 | 2 |
LIC MF Overnight Fund Peer Comparison
| Rating | 1 Year Returns | 3 Year Returns | 5 Year Returns | Expense Ratio (%) | Net Assets (Rs Cr) | Return Since Launch (%) | Exit Load (Days) | Fund Age | |
| LIC MF Overnight Dir | 4 star | 6.50 | 4.56 | — | 0.07 | 770 | 4.45 | — | 4Y 2M |
| ABSL Overnight Dir | 4 star | 6.52 | 4.56 | — | 0.08 | 7,671 | 4.70 | — | 4Y 11M |
| Axis Overnight Dir | 5 star | 6.54 | 4.57 | — | 0.05 | 7,148 | 4.57 | — | 4Y 6M |
| Nippon Ind Overnight Dir | 4 star | 6.53 | 4.56 | — | 0.08 | 6,074 | 4.67 | — | 4Y 9M |
| Kotak Overnight Dir | 4 star | 6.53 | 4.55 | — | 0.08 | 5,921 | 4.60 | — | 4Y 8M |
Portfolio Breakup
| Fund | Category | |
| Number of Securities | 4 | 3 |
| Macaulay Duration (yrs) | 0.00 | — |
| Average Maturity (yrs) | 0.00 | — |
| Yield to Maturity (%) | 6.67 | 6.63 |
| Avg Credit Rating | GOI/Cash | — |
Chanakya’s Mutual Fund Guidance For LIC MF Overnight Fund
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