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Mahindra 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 0.56 0.01 0.09 0.40 1.16 2.40 -- -- -- -- --
CCIL T Bill Liquidity Weight 0.45 0.00 0.04 0.33 0.88 1.81 -- -- -- -- --
Debt: Overnight 0.57 0.01 0.09 0.40 1.18 2.43 -- -- -- -- --
Rank within category 27 27 29 28 26 21 -- -- -- -- --
Number of funds in category 28 30 30 29 27 23 10 3 3 3 3

As on 14-Feb-2020

Best & Worst Performance

Best (Period) Worst (Period)
Week 0.11 (03-Oct-2019 - 10-Oct-2019) 0.07 (31-Dec-2019 - 07-Jan-2020)
Month 0.42 (10-Sep-2019 - 10-Oct-2019) 0.35 (09-Dec-2019 - 08-Jan-2020)
Quarter 1.25 (24-Jul-2019 - 23-Oct-2019) 1.13 (10-Oct-2019 - 09-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* 5.43 0.27 -1.11 -1.47 0.36 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-Jan-2020

Portfolio Aggregates

Fund 1Y High 1Y Low Category
Number of Securities -- 1 1 1
Modified Duration (yrs) 0.00 0.01 0.00 0.01
Average Maturity (yrs) 0.01 0.01 0.00 0.01
Yield to Maturity (%) 4.58 5.28 4.58 4.92

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

— Rahul Pal since 22-Jul-2019

Education: Mr. Pal is a B.Com (H) and Chartered Accountant.

Experience: Prior to joining Mahindra Mutual Fund, he has worked with Taurus AMC, Sundaram Mutual Fund and IDBI Mutual Fund.

Funds Managed:


--

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

Growth: ₹ 1,027.6385

Dividend Daily: ₹ 1,000.2100


Investment Strategy

The scheme seeks to generate returns commensurate with low risk and providing high level of liquidity, through investments made primarily in overnight securities having maturity of 1 business day including TREPS (Tri-Party Repo) and Reverse Repo.

Investment Details

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

Basic Details

Fund House: Mahindra Mutual Fund
Launch Date: 23-Jul-2019
Return Since Launch: 2.74%
Benchmark: CRISIL Overnight Index
Riskometer: Low
Type: Open-ended
Assets: ₹ 122 Cr (As on 31-Jan-2020)
Expense: 0.20% (As on 31-Jan-2020)
Risk Grade: --
Return Grade: --

Most Recent Dividends

Plan Record Date Dividend (₹ / Unit)  
Dividend Daily15-Feb-20200.0912

 14-Feb-20200.0912
 13-Feb-20200.0912
 12-Feb-20200.0888
 11-Feb-20200.0888
 10-Feb-20200.0912
 09-Feb-20200.0912
 08-Feb-20200.0912
 07-Feb-20200.0912
 06-Feb-20200.0912
 05-Feb-20200.0912
 04-Feb-20200.0912
 03-Feb-20200.0888
 02-Feb-20200.0912
 01-Feb-20200.0912
 31-Jan-20200.0912
 30-Jan-20200.0912
 29-Jan-20200.0912
 28-Jan-20200.0912
 27-Jan-20200.0912
 26-Jan-20200.0936
 25-Jan-20200.0936
 24-Jan-20200.0936
 23-Jan-20200.0912
 22-Jan-20200.0912

Contact Information

AMC: Mahindra Asset Management Company Private Limited

Address: 1st Floor - Sadhana House, Behind Mahindra Towers, 570 - P.B. Marg, Worli, Mumbai - 400018

Phone: 022-66327900

Email: [email protected]

Website: www.mahindramutualfund.com

Registrar & Transfer Agent: Computer Age Management Services Ltd.

Address: 7th Floor, Tower II, Rayala Towers, 158, Anna Salai, Chennai - 600002

Phone: 1800-3010-6767 / 1800-419-7676

Fax: 044-30407101

Email: [email protected]

Website: www.camsonline.com

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