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Franklin India 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 0.57 0.01 0.09 0.41 1.18 2.44 -- -- -- -- --
CCIL T Bill Liquidity Weight 0.45 0.00 0.04 0.33 0.88 1.81 -- -- -- -- --
Debt: Overnight 0.59 0.01 0.09 0.41 1.21 2.50 -- -- -- -- --
Rank within category 28 29 29 28 26 23 -- -- -- -- --
Number of funds in category 28 30 30 29 27 23 10 3 3 3 0

As on 14-Feb-2020

Best & Worst Performance

Best (Period) Worst (Period)
Week 0.13 (09-Aug-2019 - 18-Aug-2019) 0.07 (01-Jan-2020 - 08-Jan-2020)
Month 0.48 (17-May-2019 - 17-Jun-2019) 0.36 (08-Dec-2019 - 07-Jan-2020)
Quarter 1.40 (08-May-2019 - 07-Aug-2019) 1.16 (09-Oct-2019 - 08-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 --
Average Maturity (yrs) -- 0.01 0.00 --
Yield to Maturity (%) 4.82 5.83 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-Jan-2020

*As on 31-Dec-2019

Fund Manager

— Pallab Roy since 07-May-2019

Education: Mr. Roy is a M.Com and MBA (Finance).

Experience: He has been associated with Franklin Templeton Investments since 2001.

Funds Managed:

— Umesh Sharma since 07-May-2019

Education: Mr. Sharma is a B.Com (H), CS and CA.

Experience: Prior to joining Franklin Templeton Mutual Fund he has worked with ICICI Bank Ltd., UTI Mutual Fund, Invesco Mutual Fund and JM Financials.

Funds Managed:


--

Change from previous, NAV as on 16-Feb-2020

Growth: ₹ 1,040.0592

Dividend Weekly: ₹ 1,000.0000

Dividend Daily: ₹ 1,000.0000


Investment Strategy

The Scheme seeks to provide reasonable income along with high liquidity by investing in overnight securities having maturity of 1 business day. There can be no assurance that the investment objective of the scheme will be realized.

Investment Details

Minimum Investment (₹) 5,000
Minimum Addl Investment (₹) 1,000
Minimum SIP Investment (₹) 500
Minimum No of Cheques 6
Minimum Withdrawal (₹) 1,000
Minimum Balance (₹) 1,000
Exit Load 0

Basic Details

Fund House: Franklin Templeton Mutual Fund
Launch Date: 08-May-2019
Return Since Launch: 3.98%
Benchmark: CRISIL Overnight Index
Riskometer: Low
Type: Open-ended
Assets: ₹ 334 Cr (As on 31-Jan-2020)
Expense: 0.10% (As on 31-Dec-2019)
Risk Grade: --
Return Grade: --

Most Recent Dividends

Plan Record Date Dividend (₹ / Unit)  
Dividend Daily16-Feb-20200.1889

 14-Feb-20200.0937
 13-Feb-20200.0914
 12-Feb-20200.0936
 11-Feb-20200.0939
 10-Feb-20200.0929
 09-Feb-20200.1882
 07-Feb-20200.0938
 06-Feb-20200.0943
 05-Feb-20200.0931
 04-Feb-20200.0938
 03-Feb-20200.0942
 02-Feb-20200.1911
 31-Jan-20200.0953
 30-Jan-20200.0935
 29-Jan-20200.0942
 28-Jan-20200.0952
 27-Jan-20200.0951
 26-Jan-20200.1894
 24-Jan-20200.0942
 23-Jan-20200.0947
 22-Jan-20200.0959
 21-Jan-20200.0956
 20-Jan-20200.0945
 19-Jan-20200.1908
Dividend Weekly14-Feb-20200.6549

 07-Feb-20200.6578
 31-Jan-20200.6648
 24-Jan-20200.6644
 17-Jan-20200.6625
 10-Jan-20200.6294
 03-Jan-20200.5489
 27-Dec-20190.6231
 20-Dec-20190.6534
 13-Dec-20190.6332
 06-Dec-20190.6420
 29-Nov-20190.6625
 22-Nov-20190.6685
 15-Nov-20190.6653
 08-Nov-20190.6627
 01-Nov-20190.5556
 25-Oct-20190.6570
 18-Oct-20190.7324
 11-Oct-20190.6261
 04-Oct-20190.6850
 27-Sep-20190.6965
 20-Sep-20190.7150
 13-Sep-20190.7038
 06-Sep-20190.5999
 30-Aug-20190.8104

Contact Information

AMC: Franklin Templeton Asset Management India Private Ltd

Address: Indiabulls Finance Center, Tower 2, 12th and 13th Floor, Senapati Bapat Marg, Elphinstone Road (West) Mumbai - 400013

Phone: 1800-425-4255 / 60004255

Email: [email protected]

Website: www.franklintempletonindia.com

Registrar & Transfer Agent: Franklin Templeton Asset Management (India) Pvt. Ltd.

Address: Unit 301, III Floor, Campus 4B, RMZ Millenia Business Park, 143 Dr. MGR Road, Kandanchavadi Chennai - 600096

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