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Axis Overnight Fund - Regular Plan


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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(₹)
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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 0.31 0.01 0.09 0.39 1.19 2.50 -- -- -- -- --
CCIL T Bill Liquidity Weight 0.24 0.00 0.07 0.28 0.84 1.91 -- -- -- -- --
Debt: Overnight 0.30 0.01 0.09 0.39 1.18 2.47 -- -- -- -- --
Rank within category 9 5 7 9 9 7 -- -- -- -- --
Number of funds in category 28 29 29 28 26 23 10 3 3 3 3

As on 24-Jan-2020

Best & Worst Performance

Best (Period) Worst (Period)
Week 0.12 (26-Mar-2019 - 02-Apr-2019) 0.08 (31-Dec-2019 - 07-Jan-2020)
Month 0.49 (09-Apr-2019 - 09-May-2019) 0.38 (08-Dec-2019 - 07-Jan-2020)
Quarter 1.46 (17-Mar-2019 - 16-Jun-2019) 1.17 (08-Oct-2019 - 07-Jan-2020)
Year -- ( - ) -- ( - )

Risk Measures (%)

Mean Std Dev Sharpe Sortino Beta Alpha
Fund -- -- -- -- -- --
CCIL T Bill Liquidity Weight* 4.08 0.26 -6.21 -10.52 -- --
Debt: Overnight* 5.49 0.27 -1.15 -1.57 0.35 0.35
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

* As on 31-Dec-2019

Portfolio Aggregates

Fund 1Y High 1Y Low Category
Number of Securities -- -- -- --
Modified Duration (yrs) 0.00 0.01 0.00 --
Average Maturity (yrs) 0.00 0.01 0.00 --
Yield to Maturity (%) 4.91 6.25 4.82 --

Value Research Fund Style

Credit Rating vis-à-vis Category

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Top Holdings

The underlying data is unavailable.

As on 31-Dec-2019

Fund Manager

— Aditya Pagaria since 07-Mar-2019

Education: Mr. Pagaria is a Bachelor in Management Studies and holds a Post Graduate Diploma in Business Management from Institute Of Technology And Management, SK Somaiya College.

Experience: Prior to joining Axis AMC he was associated with ICICI Prudential AMC (Nov 2011-Jul 2016) as Fund Manager - Fixed Income Operations.

Funds Managed:


0.01%

Change from previous, NAV as on 24-Jan-2020

Growth: ₹ 1,046.5609

Dividend Weekly: ₹ 1,001.2029

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Dividend Monthly: ₹ 1,004.5096

Dividend Daily: ₹ 1,000.5032


Investment Strategy

The Scheme seeks to provide reasonable returns commensurate with very low interest rate risk and providing a high level of liquidity, through investments made primarily in overnight securities having maturity/residual maturity of 1 business day.

Investment Details

Minimum Investment (₹) 500
Minimum Addl Investment (₹) 500
Minimum SIP Investment (₹) --
Minimum No of Cheques --
Minimum Withdrawal (₹) --
Minimum Balance (₹) 1
Exit Load 0

Basic Details

Fund House: Axis Mutual Fund
Launch Date: 15-Mar-2019
Return Since Launch: 4.66%
Benchmark: NIFTY 1D Rate TRI
Riskometer: Low
Type: Open-ended
Assets: ₹ 1,863 Cr (As on 31-Dec-2019)
Expense: 0.14% (As on 31-Dec-2019)
Risk Grade: --
Return Grade: --

Most Recent Dividends

Plan Record Date Dividend (₹ / Unit)  
Dividend Daily24-Jan-20200.0959

 23-Jan-20200.0956
 22-Jan-20200.0956
 21-Jan-20200.0958
 20-Jan-20200.0952
 19-Jan-20200.0957
 18-Jan-20200.0957
 17-Jan-20200.0957
 16-Jan-20200.0942
 15-Jan-20200.0958
 14-Jan-20200.0943
 13-Jan-20200.0937
 12-Jan-20200.0942
 11-Jan-20200.0942
 10-Jan-20200.0893
 09-Jan-20200.0938
 08-Jan-20200.0946
 07-Jan-20200.0877
 06-Jan-20200.0823
 05-Jan-20200.0826
 04-Jan-20200.0827
 03-Jan-20200.0794
 02-Jan-20200.0817
 01-Jan-20200.0901
 31-Dec-20190.0949
Dividend Weekly20-Jan-20200.6672

 13-Jan-20200.6482
 06-Jan-20200.5944
 30-Dec-20190.6278
 23-Dec-20190.6555
 16-Dec-20190.6403
 09-Dec-20190.6501
 02-Dec-20190.6658
 25-Nov-20190.6753
 18-Nov-20190.6683
 11-Nov-20190.6679
 04-Nov-20190.5516
 29-Oct-20190.6500
 22-Oct-20190.7521
 14-Oct-20190.6329
 07-Oct-20190.6808
 30-Sep-20190.7102
 23-Sep-20190.7310
 16-Sep-20190.7127
 09-Sep-20190.5998
 03-Sep-20190.8133
 26-Aug-20190.6946
 19-Aug-20190.6138
 13-Aug-20190.8334
 05-Aug-20190.7595
Dividend Monthly26-Dec-20192.8968

 25-Nov-20192.9370
 25-Oct-20192.8503
 25-Sep-20193.0660
 26-Aug-20193.3422
 25-Jul-20193.3159
 25-Jun-20193.2175
 27-May-20193.6572
 25-Apr-20194.4852

Contact Information

AMC: Axis Asset Management Company Ltd.

Address: "Axis House" - 1st Floor, C-2 - Wadia International Centre, Pandurang Budhkar Marg , Worli, Mumbai - 400025

Phone: 022-24255161

Fax: 022-43255199

Email: [email protected] / [email protected]

Website: www.axismf.com

Registrar & Transfer Agent: KFin Technologies Pvt Ltd.

Address: Karvy House, No. 46, 8-2-609/K, Avenue 4, Street No.1 Banjara Hills, Hyderabad - 500034

Phone: 040-23312454

Email: [email protected]

Website: www.karvymfs.com

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