Overnight funds invest in bonds having maturity of just one day (hence the name 'Overnight'). They are suitable for institutional investors looking to park their surplus money for a few days or weeks to earn a bit extra on the sum which would otherwise lie idle in a bank account. The risk of incurring a loss in these funds is negligible but they do not guarantee returns or safety of capital.
Retail investors can avoid these funds altogether. Here's why. Debt funds are very finely classified depending upon the maturity of the bonds they invest in. For instance, there's a different category of funds that invests in bonds of up to 3 months maturity, from the one that invests in bonds maturing in 3-6 months, and so on. We believe that such a nuanced classification adds little value to retail investors. They can avoid this complexity and simply invest the money they don't need for up to the next one year in a Liquid fund.
Taxability of earnings:
|CCIL T Bill Liquidity Weight||0.53||0.01||0.02||0.29||0.84||1.78||4.06||--||--||--||--|
|Rank within category||23||20||22||9||23||16||7||--||--||--||--|
|Number of funds in category||28||30||30||29||27||23||10||3||3||3||3|
As on 25-Feb-2020
|Best (Period)||Worst (Period)|
|Week||0.15 (01-Mar-2019 - 10-Mar-2019)||0.07 (31-Dec-2019 - 07-Jan-2020)|
|Month||0.54 (01-Mar-2019 - 02-Apr-2019)||0.36 (09-Dec-2019 - 08-Jan-2020)|
|Quarter||1.58 (22-Nov-2018 - 22-Feb-2019)||1.15 (10-Oct-2019 - 09-Jan-2020)|
|Year||5.82 (16-Nov-2018 - 17-Nov-2019)||5.37 (20-Feb-2019 - 20-Feb-2020)|
|CCIL T Bill Liquidity Weight*||4.06||0.27||-6.06||-10.48||--||--|
|Rank within category||--||--||--||--||--||--|
|Number of funds in category||--||--||--||--||--||--|
The Risk Measures have been calculated using calendar month returns for the last three years.
* As on 31-Jan-2020
|Fund||1Y High||1Y Low||Category|
|Number of Securities||--||--||--||1|
|Modified Duration (yrs)||0.01||0.01||0.01||0.01|
|Average Maturity (yrs)||0.01||0.01||0.01||0.01|
|Yield to Maturity (%)||4.92||7.17||4.83||4.94|
|The underlying data is unavailable.|
As on 31-Jan-2020
Education: Mr. Kabra is a B.Com and Chartered Accountant.
Experience: Prior to joining ICICI Prudential AMC from September 25, 2013 he was associated with Sumedha Fiscal Services Limited from October 2012 to September 2013 and Haribhakti & Co. from September 2010 to October 2012.
Education: Mr. Goswami is a B. Sc (Mathematics and MBA (Finance)
Experience: Prior to joining ICICI Prudential AMC he has worked with UTI Bank Ltd. and Franklin Templeton Asset Management Pvt. Ltd.
Education: Mr. Maru is M.Com and MBA in Finance.
Experience: Prior to this, he worked with Kotak Mahindra AMC as Fixed Income Dealer and Integreon Managed Solutions as a Research Associate.
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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.
|Minimum Investment (₹)||100|
|Minimum Addl Investment (₹)||1|
|Minimum SIP Investment (₹)||500|
|Minimum No of Cheques||6|
|Minimum Withdrawal (₹)||1|
|Minimum Balance (₹)||--|
|Fund House:||ICICI Prudential Mutual Fund|
|Return Since Launch:||5.59%|
|Benchmark:||CRISIL Overnight Index|
|Assets:||₹ 5,198 Cr (As on 31-Jan-2020)|
|Expense:||0.20% (As on 31-Jan-2020)|
|Plan||Record Date||Dividend (₹ / Unit)|
AMC: ICICI Prudential Asset Management Company Ltd
Address: One BKC , A Wing , 13th Floor, Bandra Kurla Complex, Mumbai - 400051
Phone: 022-26525000 / 1800-222-999 / 1800-200-6666
Email: [email protected]
Registrar & Transfer Agent: Computer Age Management Services Ltd.
Address: 7th Floor, Tower II, Rayala Towers, 158, Anna Salai, Chennai - 600002
Phone: 1800-3010-6767 / 1800-419-7676
Email: [email protected]