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||4.15||4.46||4.78||4.71|
|Rank within category||28||30||30||29||27||23||10||3||3||3||2|
|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||0.28 (30-Mar-2007 - 08-Apr-2007)||-0.10 (09-Jul-2013 - 16-Jul-2013)|
|Month||0.94 (03-Oct-2008 - 03-Nov-2008)||0.26 (30-Sep-2009 - 30-Oct-2009)|
|Quarter||2.59 (04-Apr-2012 - 06-Jul-2012)||0.80 (17-Sep-2009 - 17-Dec-2009)|
|Year||9.75 (12-Aug-2011 - 13-Aug-2012)||3.88 (14-Jun-2009 - 14-Jun-2010)|
|CCIL T Bill Liquidity Weight||4.06||0.27||-6.06||-10.48||--||--|
|Rank within category||4||1||4||4||2||4|
|Number of funds in category||4||4||4||4||4||4|
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||1||1||1|
|Modified Duration (yrs)||0.01||0.01||0.01||0.01|
|Average Maturity (yrs)||0.00||0.00||0.00||0.01|
|Yield to Maturity (%)||4.97||7.61||4.85||4.94|
|Company||Instrument||Credit Rating||1Y Range||% Assets|
|Chennai Petroleum Corp. 34-D 03/02/2020||Commercial Paper||A1+||0.00 - 5.86||5.86|
Indicates an increase or decrease or no change in holding since last portfolio
Indicates a new holding since last portfolio
As on 31-Jan-2020
Education: Mr. Shah is a B.E. (Mechanical) and holds a PGDM.
Experience: Prior to joining L&T, he was associated with FIL Fund Management Private Limited (Dec 2007-Nov 2012), Lotus India Asset Management Company Private Limited (Sep 2007-Nov 2007) as a Research Analyst, UTI Asset Management Company Private Limited (July 2006-Aug 2007) as a Research Analyst and UTI Asset Management Company Private Limited(May 2004-June 2006) as a Sales & Marketing Manager.
Education: Shriram is a B.E. (Electrical), PGDBM from XLRI Jamshedpur and CFA.
Experience: Prior to joining L&T Mutual Fund he has worked with FIL Fund Management Pvt. Ltd., ING Investment Management, Zurich Asset Management Co., ICICI Ltd., and L&T Ltd.
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The scheme aims to deliver reasonable returns with lower volatility and higher liquidity through a portfolio of debt and money market instruments. It may invest up to 100 per cent of its assets in derivatives for hedging and portfolio balancing purposes.
|Minimum Investment (₹)||10,000|
|Minimum Addl Investment (₹)||1,000|
|Minimum SIP Investment (₹)||1,000|
|Minimum No of Cheques||6|
|Minimum Withdrawal (₹)||1,000|
|Minimum Balance (₹)||1,000|
|Fund House:||L&T Mutual Fund|
|Return Since Launch:||7.06%|
|Benchmark:||CRISIL Overnight Index|
|Assets:||₹ 1,706 Cr (As on 31-Jan-2020)|
|Expense:||0.79% (As on 31-Jan-2020)|
|Plan||Record Date||Dividend (₹ / Unit)|
Fund News - 23-Jan-2020
AMC: L&T Investment Management Ltd
Address: Brindavan Plot No. 177, CST Road Kalina, Santacruz (East) Mumbai - 400098
Phone: 022-66554000 / 1800-2000-400
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]