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Axis Overnight Fund - Direct 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 0.72 0.01 0.09 0.41 1.21 2.49 -- -- -- -- --
CCIL T Bill Liquidity Weight 0.52 -0.03 0.04 0.28 0.83 1.77 -- -- -- -- --
Debt: Overnight 0.72 0.01 0.09 0.41 1.21 2.49 -- -- -- -- --
Rank within category 14 9 18 17 15 13 -- -- -- -- --
Number of funds in category 28 30 30 29 27 18 10 3 3 3 0

As on 24-Feb-2020

Best & Worst Performance

Best (Period) Worst (Period)
Week 0.12 (27-Mar-2019 - 03-Apr-2019) 0.08 (31-Dec-2019 - 07-Jan-2020)
Month 0.51 (17-Mar-2019 - 16-Apr-2019) 0.38 (08-Dec-2019 - 07-Jan-2020)
Quarter 1.49 (17-Mar-2019 - 16-Jun-2019) 1.19 (08-Oct-2019 - 07-Jan-2020)
Year -- ( - ) -- ( - )

Risk Measures (%)

Mean Std Dev Sharpe Sortino Beta Alpha
Fund -- -- -- -- -- --
CCIL T Bill Liquidity Weight* 4.06 0.27 -6.06 -10.48 -- --
Debt: Overnight* 5.69 0.27 0.48 0.76 0.36 0.60
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-Jan-2020

Portfolio Aggregates

Fund 1Y High 1Y Low Category
Number of Securities -- -- -- 1
Modified Duration (yrs) 0.01 0.01 0.00 0.01
Average Maturity (yrs) 0.01 0.01 0.00 0.01
Yield to Maturity (%) 4.95 6.25 4.82 4.94

Value Research Fund Style

Credit Rating vis-à-vis Category

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Top Holdings

The underlying data is unavailable.

As on 31-Jan-2020

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-Feb-2020

Growth: ₹ 1,051.5309

Dividend Weekly: ₹ 1,000.7022

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Dividend Monthly: ₹ 1,004.5876

Dividend Daily: ₹ 1,000.5073


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: 5.15%
Benchmark: NIFTY 1D Rate TRI
Riskometer: Low
Type: Open-ended
Assets: ₹ 2,885 Cr (As on 31-Jan-2020)
Expense: 0.09% (As on 31-Jan-2020)
Risk Grade: --
Return Grade: --

Most Recent Dividends

Plan Record Date Dividend (₹ / Unit)  
Dividend Daily23-Feb-20200.0972

 22-Feb-20200.0972
 21-Feb-20200.0972
 20-Feb-20200.0972
 19-Feb-20200.0946
 18-Feb-20200.0947
 17-Feb-20200.0935
 16-Feb-20200.0957
 15-Feb-20200.0957
 14-Feb-20200.0957
 13-Feb-20200.0945
 12-Feb-20200.0947
 11-Feb-20200.0962
 10-Feb-20200.0963
 09-Feb-20200.0968
 08-Feb-20200.0968
 07-Feb-20200.0968
 06-Feb-20200.0964
 05-Feb-20200.0955
 04-Feb-20200.0951
 03-Feb-20200.0947
 02-Feb-20200.0961
 01-Feb-20200.0960
 31-Jan-20200.0960
 30-Jan-20200.0951
Dividend Weekly17-Feb-20200.2754

 06-Jan-20202.5000
 30-Dec-20190.6328
 23-Dec-20190.6728
 16-Dec-20190.6482
 09-Dec-20190.7236
 02-Dec-20190.7336
 25-Nov-20190.7476
 18-Nov-20190.6361
 11-Nov-20190.6411
 04-Nov-20190.5791
 29-Oct-20190.6691
 22-Oct-20190.7840
 14-Oct-20190.4292
 30-Sep-20190.7462
 23-Sep-20190.7624
 16-Sep-20190.7347
 09-Sep-20190.6216
 03-Sep-20190.8236
 26-Aug-20190.7237
 19-Aug-20190.6262
 13-Aug-20190.8599
 05-Aug-20190.7721
 29-Jul-20190.7725
 22-Jul-20190.7847
Dividend Monthly27-Jan-20202.9655

 26-Dec-20192.9271
 25-Nov-20192.9700
 25-Oct-20192.8883
 25-Sep-20193.1031
 26-Aug-20193.3870
 25-Jul-20193.3529
 25-Jun-20193.2554
 27-May-20193.6925
 25-Apr-20194.5372

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: 303, Vamsee Estates, Opp. Big Bazaar, Ameerpet, Hyderabad - 500016

Phone: 040-44857874

Email: [email protected]

Website: www.karvymfs.com

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