October 3, 2022
mayank
Nippon India Overnight Fund
NAV Growth: Rs 116.7809
IDCW Weekly: Rs 100.0380
IDCW Quarterly: Rs 100.4601
IDCW Monthly: Rs 100.2169
IDCW Daily: Rs 100.0050
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 generate optimal returns with low risk and high liquidity by investing in debt and money market instruments with overnight maturity.
Fund Manager:
1) Anju Chhajer
Education: Ms. Chhajer is a B.Com (H) and a Chartered Accountant.
Experience: Prior to joining Nippon India Mutual Fund Ltd. as a fund manager, she has worked with National Insurance Company as a Money Maker Instruments and D.C Dharewa & Co.
2) Siddharth Deb
Education: Mr. Deb is a B.Sc and MMS (Finance).
Experience: Prior to joining Nippon India Mutual Fund he has worked with Benchmark Asset Management Co. Pvt. Ltd. and Fullerton India Credit Company Ltd.
Investment Details
| Min. Investment (Rs) | 100 |
| Min. Addl Investment (Rs) | 100 |
| Min. SIP Investment (Rs) | 1,000 |
| Min. Withdrawal (Rs) | 100 |
| Min. No of Cheques | 6 |
| Min. Balance (Rs) | 1 |
| Lock-in Period | NA |
| Exit Load | 0 |
Basic Details
| Fund House | Nippon India Mutual Fund |
| Launch Date | 18-Dec-18 |
| Return Since Launch | 4.17% |
| Benchmark | CRISIL Overnight Fund AI Index |
| Riskometer | Low |
| Type | Open-ended |
| Assets | Rs 10,604 Cr |
| (As on 31-Aug-2022) | |
| Expense Ratio | 0.07% |
| (As on 31-Aug-2022) | |
| Risk Grade | — |
| Return Grade | Average |
Nippon India Overnight Fund Trailing Returns (%)
| Fund name | YTD | 1D | 1M | 3M | 6M | 1Y | 3Y | 5Y | 7Y | 10Y |
| Nippon Ind Overnight Dir | 3.18 | 0.02 | 0.44 | 1.29 | 2.3 | 4.04 | 3.69 | — | — | — |
| CCIL T Bill Liquidity Weight | 1.6 | 0.06 | 0.24 | 0.73 | 1.03 | 2.13 | 2.56 | — | — | — |
| Debt: Overnight | 3.14 | 0.02 | 0.43 | 1.28 | 2.29 | 3.99 | 3.66 | — | — | — |
| Rank within category | 3 | 6 | 7 | 8 | 10 | 6 | 6 | — | — | — |
| Number of funds in category | 29 | 32 | 31 | 30 | 30 | 29 | 24 | 3 | 3 | 0 |
Nippon India Overnight Fund Peer Comparison
| Fund name | Rating | 1 Year Returns | 3 Year Returns | 5 Year Returns | Expense Ratio (%) | Net Assets (Rs Cr) | Return Since Launch (%) | Exit Load (Days) | Fund Age |
| Nippon Ind Overnight Dir | 3 star | 4.04 | 3.69 | — | 0.07 | 10,604 | 4.17 | — | 3yrs 9mo |
| Axis Overnight Dir | 4 star | 4.04 | 3.68 | — | 0.06 | 12,063 | 4.01 | — | 3yrs 6mo |
| ABSL Overnight Dir | 4 star | 4.01 | 3.67 | — | 0.08 | 11,825 | 4.23 | — | 3yrs 11mo |
| Mirae Asset Overnight Dir | 5 star | 4.04 | — | — | 0.11 | 700 | 3.73 | — | 2yrs 11mo |
| HSBC Overnight Dir | 5 star | 4.04 | 3.71 | — | 0.11 | 587 | 3.91 | — | 3yrs 4mo |
Portfolio Breakup
| Fund | Category | |
| Number of Securities | 4 | 2 |
| Modified Duration (yrs) | 0 | — |
| Average Maturity (yrs) | 0 | — |
| Yield to Maturity (%) | 5.52 | 5.43 |
| Avg Credit Rating | GOI/Cash | — |
Chanakya’s Mutual Fund Guidance For Nippon India Overnight Fund
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