August 22, 2023
mayank
Tata Overnight Fund details, NAV, Portfolio, Returns, Peer Comparison, Fund Managers & Guidance by Chanakyamfguidance.com
NAV Growth: Rs 1,212.7822
NAV IDCW Daily: 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 generate returns commensurate with low risk and providing high level of liquidity, through investments made primarily in overnight securities having maturity of 1 business day.
Fund Manager:
1) Amit Somani
Education: Mr.Somani is a B.Com, PGDBM and CFA.
Experience: Prior to joining Tata Asset Management Ltd in 2010 he has worked with Fidelity Investments Netscribes Pvt. ltd, SPA Capital and Khandwala Securities.
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) | 5,000 |
| Lock-in Period | NA |
| Exit Load | 0 |
Basic Details of Tata Overnight Fund
| Fund House | Tata Mutual Fund |
| Launch Date | 27-Mar-19 |
| Return Since Launch | 4.48% |
| Benchmark | CRISIL Liquid Overnight Index |
| Riskometer | Low |
| Type | Open-ended |
| Assets | Rs 2,203 Cr |
| (As on 31-Jul-2023) | |
| Expense | 0.06% |
| (As on 31-Jul-2023) | |
| Risk Grade | — |
| Return Grade | Average |
Tata Overnight Fund Trailing Returns (%)
| Fund name | YTD | 1D | 1M | 3M | 6M | 1Y | 3Y | 5Y | 7Y | 10Y |
| Tata Overnight Dir | 4.15 | 0.02 | 0.54 | 1.62 | 3.24 | 6.33 | 4.39 | — | — | — |
| CCIL T Bill Liquidity Weight | 2.65 | -0.05 | 0.20 | 1.02 | 2.20 | 3.94 | 2.70 | — | — | — |
| Debt: Overnight | 4.14 | 0.02 | 0.54 | 1.62 | 3.23 | 6.31 | 4.38 | — | — | — |
| Rank within category | 14 | 6 | 13 | 13 | 13 | 12 | 12 | — | — | — |
| Number of funds in category | 32 | 34 | 34 | 32 | 32 | 29 | 27 | 3 | 2 | 2 |
Tata 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 | |
| Tata Overnight Dir | 3 star | 6.33 | 4.39 | — | 0.06 | 2,203 | 4.48 | — | 4Y 4M |
| ABSL Overnight Dir | 4 star | 6.35 | 4.40 | — | 0.07 | 10,111 | 4.64 | — | 4Y 9M |
| Kotak Overnight Dir | 4 star | 6.35 | 4.39 | — | 0.08 | 10,004 | 4.54 | — | 4Y 7M |
| Axis Overnight Dir | 5 star | 6.37 | 4.42 | — | 0.05 | 8,018 | 4.50 | — | 4Y 5M |
| Nippon Ind Overnight Dir | 4 star | 6.36 | 4.41 | — | 0.08 | 7,415 | 4.61 | — | 4Y 8M |
Portfolio Breakup
| Fund | Category | |
| Number of Securities | — | 3 |
| Macaulay Duration (yrs) | 0.00 | — |
| Average Maturity (yrs) | 0.00 | — |
| Yield to Maturity (%) | 6.48 | 6.43 |
| Avg Credit Rating | Cash | — |
Chanakya’s Mutual Fund Guidance For Tata Overnight Fund
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