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||1.77||-0.01||0.01||0.24||1.17||1.99||4.13||--||--||--||--|
|Rank within category||15||7||4||7||14||14||10||--||--||--||--|
|Number of funds in category||28||30||30||30||30||27||18||3||3||3||0|
As on 03-Jun-2020
|Best (Period)||Worst (Period)|
|Week||0.12 (27-Mar-2019 - 03-Apr-2019)||0.01 (26-Mar-2020 - 02-Apr-2020)|
|Month||0.51 (17-Mar-2019 - 16-Apr-2019)||0.18 (23-Mar-2020 - 22-Apr-2020)|
|Quarter||1.49 (17-Mar-2019 - 16-Jun-2019)||0.81 (28-Feb-2020 - 29-May-2020)|
|Year||5.39 (17-Mar-2019 - 16-Mar-2020)||4.72 (30-May-2019 - 29-May-2020)|
|CCIL T Bill Liquidity Weight*||4.15||0.27||-4.64||-8.65||--||--|
|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-May-2020
|Fund||1Y High||1Y Low||Category|
|Number of Securities||--||--||--||1|
|Modified Duration (yrs)||0.01||0.01||0.00||--|
|Average Maturity (yrs)||0.01||0.01||0.00||--|
|Yield to Maturity (%)||3.89||6.25||0.55||--|
|The underlying data is unavailable.|
As on 30-Apr-2020
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.
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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.
|Minimum Investment (₹)||500|
|Minimum Addl Investment (₹)||500|
|Minimum SIP Investment (₹)||--|
|Minimum No of Cheques||--|
|Minimum Withdrawal (₹)||--|
|Minimum Balance (₹)||1|
|Fund House:||Axis Mutual Fund|
|Return Since Launch:||4.97%|
|Benchmark:||NIFTY 1D Rate TRI|
|Assets:||₹ 2,810 Cr (As on 30-Apr-2020)|
|Expense:||0.05% (As on 30-Apr-2020)|
|Plan||Record Date||Dividend (₹ / Unit)|
Registrar & Transfer Agent: KFin Technologies Pvt Ltd.
Address: 303, Vamsee Estates, Opp. Big Bazaar, Ameerpet, Hyderabad - 500016
Email: [email protected]