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Unrated

L&T Overnight Fund


1 Lakh

Investment Grown to
₹ 1.05 Lakh

₹ 10000

Monthly SIP Grown to
₹ 1.23 Lakh

Analyst's Choice?

Suitability:

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:

Capital gains

  • If the mutual fund units are sold after 3 years from the date of investment, gains are taxed at the rate of 20% after providing the benefit of inflation indexation.
  • If the mutual fund units are sold within 3 years from the date of investment, entire amount of gain is added to the investors' income and taxed according to the applicable slab rate.
  • No tax is to be paid as long as you continue to hold the units.

Dividends

  • Dividends paid by the mutual fund scheme are taxed at the rate of 25% (effectively 29.12%, including surcharge and cess). This is known as Dividend Distribution Tax (DDT).Though the investor does not pay this tax directly, it is deducted from the dividend income before passing on to the investor.

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Trailing Returns (%)

YTD 1-Day 1-W 1-M 3-M 6-M 1-Y 3-Y 5-Y 7-Y 10-Y
Fund 0.57 0.01 0.08 0.36 1.03 2.13 4.73 5.22 5.85 6.57 7.04
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
Debt: Overnight 0.65 0.01 0.09 0.40 1.18 2.43 5.32 5.61 6.11 6.78 7.07
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 & Worst Performance

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)

Risk Measures (%)

Mean Std Dev Sharpe Sortino Beta Alpha
Fund 5.11 0.15 -3.77 -5.15 0.16 -0.30
CCIL T Bill Liquidity Weight 4.06 0.27 -6.06 -10.48 -- --
Debt: Overnight 5.43 0.27 -1.11 -1.47 0.36 0.35
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

Portfolio Aggregates

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

Value Research Fund Style

Credit Rating vis-à-vis Category

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Top Holdings

Company Instrument Credit Rating 1Y Range % Assets
new Chennai Petroleum Corp. 34-D 03/02/2020 Commercial Paper A1+ 0.00 - 5.86 5.86

up down equal Indicates an increase or decrease or no change in holding since last portfolio
new Indicates a new holding since last portfolio

As on 31-Jan-2020

Fund Manager

— Jalpan Shah since 30-May-2016

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.

Funds Managed:

— Shriram Ramanathan since 03-Apr-2017

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.

Funds Managed:


0.01%

Change from previous, NAV as on 20-Feb-2020

Growth: ₹ 1,480.3959

Dividend Weekly: ₹ 1,000.3730

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Dividend Monthly: ₹ 1,009.8284

Dividend Daily: ₹ 1,023.3000


Investment Strategy

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.

Investment Details

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
Exit Load 0

Basic Details

Fund House: L&T Mutual Fund
Launch Date: 27-Nov-2006
Return Since Launch: 7.06%
Benchmark: CRISIL Overnight Index
Riskometer: Low
Type: Open-ended
Assets: ₹ 1,706 Cr (As on 31-Jan-2020)
Expense: 0.79% (As on 31-Jan-2020)
Risk Grade: --
Return Grade: --

Most Recent Dividends

Plan Record Date Dividend (₹ / Unit)  
Dividend Daily20-Feb-20200.0858

 19-Feb-20200.0828
 18-Feb-20200.0828
 17-Feb-20200.0825
 16-Feb-20200.1672
 14-Feb-20200.0836
 13-Feb-20200.0821
 12-Feb-20200.0824
 11-Feb-20200.0824
 10-Feb-20200.0827
 09-Feb-20200.1686
 07-Feb-20200.0843
 06-Feb-20200.0836
 05-Feb-20200.1039
 04-Feb-20200.0836
 03-Feb-20200.0825
 02-Feb-20200.1688
 31-Jan-20200.0836
 30-Jan-20200.0835
 29-Jan-20200.0847
 28-Jan-20200.0847
 27-Jan-20200.0850
 26-Jan-20200.1706
 24-Jan-20200.0853
 23-Jan-20200.0851
Dividend Weekly17-Feb-20200.5673

 10-Feb-20200.5932
 03-Feb-20200.5747
 27-Jan-20200.5805
 20-Jan-20200.5702
 13-Jan-20200.5615
 06-Jan-20200.4903
 30-Dec-20190.5337
 23-Dec-20190.5642
 16-Dec-20190.5517
 09-Dec-20190.5616
 02-Dec-20190.5754
 25-Nov-20190.5812
 18-Nov-20190.5732
 11-Nov-20190.5776
 04-Nov-20190.5665
 28-Oct-20190.5676
 21-Oct-20190.5636
 14-Oct-20190.5502
 07-Oct-20190.6087
 30-Sep-20190.6173
 23-Sep-20190.6235
 16-Sep-20190.6126
 09-Sep-20190.6042
 02-Sep-20190.6154
Dividend Monthly27-Jan-20203.6016

 26-Dec-20193.6016
 25-Nov-20193.6016
 25-Oct-20193.6016
 25-Sep-20193.6016
 26-Aug-20193.6016
 25-Jul-20193.6016
 25-Jun-20193.6016
 27-May-20193.6016
 25-Apr-20193.6016
 25-Mar-20193.6016
 25-Feb-20193.6016
 25-Jan-20193.6016
 26-Dec-20183.6016
 26-Nov-20183.6016
 25-Oct-20183.6016
 25-Sep-20183.6016
 27-Aug-20183.6016
 25-Jul-20183.6016
 25-Jun-20183.6016
 25-May-20183.6016
 25-Apr-20183.6016
 26-Mar-20183.6113
 26-Feb-20183.6113
 25-Jan-20183.6113

Contact Information

AMC: L&T Investment Management Ltd

Address: Brindavan Plot No. 177, CST Road Kalina, Santacruz (East) Mumbai - 400098

Phone: 022-66554000 / 1800-2000-400

Fax: 022-66554002

Email: [email protected]

Website: www.lntmf.com

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

Fax: 044-30407101

Email: [email protected]

Website: www.camsonline.com

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