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||1.78||0.11||0.16||0.35||1.22||2.09||4.36||--||--||--||--|
|Rank within category||6||9||6||8||10||5||2||--||--||--||--|
|Number of funds in category||28||30||30||30||30||27||18||3||3||3||0|
As on 22-May-2020
|Best (Period)||Worst (Period)|
|Week||0.57 (17-Apr-2019 - 24-Apr-2019)||0.02 (26-Mar-2020 - 02-Apr-2020)|
|Month||1.14 (28-Mar-2019 - 27-Apr-2019)||0.21 (25-Mar-2020 - 24-Apr-2020)|
|Quarter||2.13 (24-Mar-2019 - 23-Jun-2019)||0.89 (21-Feb-2020 - 22-May-2020)|
|Year||6.10 (24-Mar-2019 - 23-Mar-2020)||4.90 (23-May-2019 - 22-May-2020)|
|CCIL T Bill Liquidity Weight*||4.16||0.26||-5.00||-9.29||--||--|
|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 30-Apr-2020
|Fund||1Y High||1Y Low||Category|
|Number of Securities||--||1||1||1|
|Modified Duration (yrs)||--||--||--||0.01|
|Average Maturity (yrs)||--||--||--||0.01|
|Yield to Maturity (%)||0.75||6.04||0.75||1.14|
|The underlying data is unavailable.|
As on 30-Apr-2020
*As on 31-Mar-2020
Education: Mr. Agarwal is a B.Com (H) from University of Kota, Chartered Accountant and CS.
Experience: Prior to joining Sundaram Mutual Fund he has worked with Deutsche AMC.
Education: Mr. Chaudhary is a B.Com (H) and PGDM (Securities Markets).
Experience: Prior to joining Sundaram Mutual Fund he has worked with Indian Bank.
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The scheme seeks to generate income by investing in debt, money market instruments, cash and cash equivalents with overnight maturity /maturing in one business day.
|Minimum Investment (₹)||5,000|
|Minimum Addl Investment (₹)||1,000|
|Minimum SIP Investment (₹)||250|
|Minimum No of Cheques||20|
|Minimum Withdrawal (₹)||1,000|
|Minimum Balance (₹)||1|
|Fund House:||Sundaram Mutual Fund|
|Return Since Launch:||5.67%|
|Benchmark:||NIFTY 1D Rate TRI|
|Assets:||₹ 725 Cr (As on 30-Apr-2020)|
|Expense:||0.09% (As on 30-Apr-2020)|
|Plan||Record Date||Dividend (₹ / Unit)|
AMC: Sundaram Asset Management Company Ltd
Address: Sundaram Towers, 2nd Floor, 46, Whites Road, Royapettah Chennai - 600014
Email: [email protected]
Registrar & Transfer Agent: KFin Technologies Pvt Ltd.
Address: 303, Vamsee Estates, Opp. Big Bazaar, Ameerpet, Hyderabad - 500016
Email: [email protected]