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Mirae Asset 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 0.63 0.01 0.09 0.42 1.22 -- -- -- -- -- --
CCIL T Bill Liquidity Weight 0.48 0.03 0.06 0.31 0.87 -- -- -- -- -- --
Debt: Overnight 0.61 0.01 0.09 0.40 1.18 -- -- -- -- -- --
Rank within category 2 2 3 2 2 -- -- -- -- -- --
Number of funds in category 28 30 30 29 27 19 10 3 3 3 3

As on 17-Feb-2020

Best & Worst Performance

Best (Period) Worst (Period)
Week 0.11 (25-Oct-2019 - 03-Nov-2019) 0.08 (31-Dec-2019 - 07-Jan-2020)
Month 0.42 (25-Oct-2019 - 26-Nov-2019) 0.38 (10-Dec-2019 - 09-Jan-2020)
Quarter 1.22 (25-Oct-2019 - 26-Jan-2020) 1.19 (16-Oct-2019 - 15-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
Modified Duration (yrs) -- -- -- 0.01
Average Maturity (yrs) 0.01 1.00 0.01 0.01
Yield to Maturity (%) 5.06 5.06 4.87 4.93

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

— Mahendra Kumar Jajoo since 15-Oct-2019

Education: Mr. Jajoo is a B.Com (H), CS, Chartered Accountant and CFA.

Experience: Prior to joining Mirae Asset Mutual Fund he was Director with AUM Capital Markets Ltd. and also been associated with organisations like PGIM India Mutual Fund, Tata Asset Management Company, BNP Paribas Asset Management India Pvt. Ltd., ABN Amro Securities India Pvt. Ltd. and ICICI Group.

Funds Managed:


0.01%

Change from previous, NAV as on 17-Feb-2020

Growth: ₹ 1,016.4865

Dividend Weekly: ₹ 1,000.6622

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Dividend Monthly: ₹ 1,003.1885

Dividend Daily: ₹ 1,000.0000


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.

Investment Details

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

Basic Details

Fund House: Mirae Asset Mutual Fund
Launch Date: 15-Oct-2019
Return Since Launch: 1.65%
Benchmark: CRISIL Overnight Index
Riskometer: Low
Type: Open-ended
Assets: ₹ 155 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 Daily17-Feb-20200.0954

 16-Feb-20200.1905
 14-Feb-20200.0953
 13-Feb-20200.0955
 12-Feb-20200.0961
 11-Feb-20200.0988
 10-Feb-20200.0961
 09-Feb-20200.1921
 07-Feb-20200.0961
 06-Feb-20200.0962
 05-Feb-20200.0961
 04-Feb-20200.0952
 03-Feb-20200.0951
 02-Feb-20200.1919
 31-Jan-20200.0959
 30-Jan-20200.0959
 29-Jan-20200.0969
 28-Jan-20200.0973
 27-Jan-20200.0982
 26-Jan-20200.1949
 24-Jan-20200.0975
 23-Jan-20200.0974
 22-Jan-20200.0973
 21-Jan-20200.0967
 20-Jan-20200.0968
Dividend Weekly12-Feb-20200.6757

 05-Feb-20200.6705
 29-Jan-20200.6823
 22-Jan-20200.6702
 15-Jan-20200.6703
 08-Jan-20200.6131
 01-Jan-20200.5394
 26-Dec-20190.7548
 18-Dec-20190.6623
 11-Dec-20190.6595
 04-Dec-20190.5714
Dividend Monthly24-Jan-20202.8806

 24-Dec-20192.7530
 24-Nov-20191.0610

Contact Information

AMC: Mirae Asset Investment Managers (India) Pvt. Ltd.

Address: Unit No.606 - 6th Floor, Windsor Building - Off. CST Road, Kalina, Santacruz (East), Mumbai - 400098

Phone: 022-67800301 / 1800-2090-777

Email: [email protected]

Website: www.miraeassetmf.co.in

Registrar & Transfer Agent: KFin Technologies Pvt Ltd.

Address: Karvy House, No. 46, 8-2-609/K, Avenue 4, Street No.1 Banjara Hills, Hyderabad - 500034

Phone: 040-23312454

Email: [email protected]

Website: www.karvymfs.com

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