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||0.55||0.04||0.10||0.36||0.91||1.88||4.15||--||--||--||--|
|Rank within category||4||16||11||10||6||4||1||--||--||--||--|
|Number of funds in category||28||30||30||29||27||23||10||3||3||3||3|
As on 20-Feb-2020
|Best (Period)||Worst (Period)|
|Week||0.15 (01-Mar-2019 - 10-Mar-2019)||0.09 (31-Dec-2019 - 07-Jan-2020)|
|Month||0.55 (01-Mar-2019 - 02-Apr-2019)||0.38 (09-Dec-2019 - 08-Jan-2020)|
|Quarter||1.57 (09-Jan-2019 - 10-Apr-2019)||1.18 (10-Oct-2019 - 09-Jan-2020)|
|Year||5.65 (11-Jan-2019 - 12-Jan-2020)||5.46 (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|
|Average Maturity (yrs)||--||0.01||0.01||0.01|
|Yield to Maturity (%)||5.03||7.69||4.87||4.94|
|The underlying data is unavailable.|
As on 31-Jan-2020
Education: Mr. Karnik is a BE and has done his Masters in Management Studies from Jamnalal Bajaj Institute of Management Studies.
Experience: Prior to joining DSP Mutual Fund he was associated with Axis Asset Management. He has also worked with HSBC and CRISIL Ltd..
Education: Mr. Vakaria is CA and pursuing CFA Level II.
Experience: Prior to joining DSP Mutual Fund he has worked with Axis mutual Fund as a Fund Manager.
Personal finance advice and mutual fund ideas delivered to your inbox every Monday
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.
|Minimum Investment (₹)||500|
|Minimum Addl Investment (₹)||500|
|Minimum SIP Investment (₹)||500|
|Minimum No of Cheques||6|
|Minimum Withdrawal (₹)||500|
|Minimum Balance (₹)||500|
|Fund House:||DSP Mutual Fund|
|Return Since Launch:||5.58%|
|Benchmark:||CRISIL Overnight Index|
|Assets:||₹ 962 Cr (As on 31-Jan-2020)|
|Expense:||0.21% (As on 31-Jan-2020)|
|Plan||Record Date||Dividend (₹ / Unit)|
AMC: DSP Investment Managers Pvt. Ltd.
Address: NATRAJ, Office No. 302-3rd Floor-Plot No. 194, MV Road Junction Western Express Highway, Andheri East Mumbai - 400069
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]