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Unrated

Mirae Asset Overnight Fund - Regular Plan


Debt: Overnight

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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Trailing Returns (%)

YTD 1-Day 1-W 1-M 3-M 6-M 1-Y 3-Y 5-Y 7-Y 10-Y
Fund 2.02 0.01 0.06 0.24 0.77 1.84 -- -- -- -- --
CCIL T Bill Liquidity Weight 2.06 0.00 0.04 0.22 0.84 1.94 -- -- -- -- --
Debt: Overnight 1.92 0.01 0.06 0.23 0.73 1.75 -- -- -- -- --
Rank within category 5 3 3 7 6 5 -- -- -- -- --
Number of funds in category 28 30 30 30 30 29 19 3 3 3 3

As on 14-Jul-2020

Peer Comparison

Fund name Rating Launch Date 1-Year Return 3-Year Return 5-Year Return Expense Ratio Assets (Cr)
Mirae Asset Overnight Fund - Regular Plan  | Invest Online
Unrated
Oct-19 -- -- -- 0.20 952
HDFC Overnight Fund  | Invest Online
Unrated
Feb-02 4.23 5.42 5.81 0.20 13,989
SBI Overnight Fund  | Invest Online
Unrated
Oct-02 4.29 5.47 5.91 0.18 13,825
ICICI Prudential Overnight Fund  | Invest Now
Unrated
Nov-18 4.24 -- -- 0.20 10,011
Aditya Birla Sun Life Overnight Fund - Regular Plan  | Invest Online
Unrated
Nov-18 4.26 -- -- 0.22 7,621

Best & Worst Performance

Best (Period) Worst (Period)
Week 0.11 (25-Oct-2019 - 03-Nov-2019) 0.02 (26-Mar-2020 - 02-Apr-2020)
Month 0.42 (25-Oct-2019 - 26-Nov-2019) 0.21 (25-Mar-2020 - 24-Apr-2020)
Quarter 1.22 (25-Oct-2019 - 26-Jan-2020) 0.73 (25-Mar-2020 - 24-Jun-2020)
Year -- ( - ) -- ( - )

Risk Measures (%)

Mean Std Dev Sharpe Sortino Beta Alpha
Fund -- -- -- -- -- --
CCIL T Bill Liquidity Weight* 4.07 0.28 -4.34 -7.86 -- --
Debt: Overnight* 5.16 0.32 -0.48 -0.60 0.24 0.16
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 30-Jun-2020

Portfolio Aggregates

Fund 1Y High 1Y Low Category
Number of Securities -- -- -- --
Modified Duration (yrs) -- 0.01 0.01 --
Average Maturity (yrs) 0.00 1.00 0.00 --
Yield to Maturity (%) 3.25 5.06 1.90 --

Value Research Fund Style

Credit Rating vis-à-vis Category

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Top Holdings

The underlying data is unavailable.

As on 30-Jun-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 14-Jul-2020

Growth: ₹ 1,030.4853

Dividend Weekly: ₹ 1,000.5015

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Dividend Monthly: ₹ 1,001.5950

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: 3.05%
Benchmark: CRISIL Overnight Index
Riskometer: Low
Type: Open-ended
Assets: ₹ 952 Cr (As on 30-Jun-2020)
Expense: 0.20% (As on 30-Jun-2020)
Risk Grade: --
Return Grade: --

Most Recent Dividends

Plan Record Date Dividend (₹ / Unit)  
Dividend Daily14-Jul-20200.0835

 13-Jul-20200.0836
 12-Jul-20200.1671
 10-Jul-20200.0836
 09-Jul-20200.0836
 08-Jul-20200.0850
 07-Jul-20200.0863
 06-Jul-20200.0836
 05-Jul-20200.1671
 03-Jul-20200.0836
 02-Jul-20200.0767
 01-Jul-20200.0808
 30-Jun-20200.0836
 29-Jun-20200.0767
 28-Jun-20200.1371
 26-Jun-20200.0685
 25-Jun-20200.0618
 24-Jun-20200.0767
 23-Jun-20200.0836
 22-Jun-20200.0809
 21-Jun-20200.1561
 19-Jun-20200.0781
 18-Jun-20200.0767
 17-Jun-20200.0781
 16-Jun-20200.0781
Dividend Weekly08-Jul-20200.5824

 01-Jul-20200.5084
 24-Jun-20200.5522
 17-Jun-20200.6374
 10-Jun-20200.5934
 03-Jun-20200.5868
 27-May-20200.5174
 20-May-20200.5742
 13-May-20200.6322
 06-May-20200.6703
 29-Apr-20200.6100
 22-Apr-20200.6587
 15-Apr-20200.6464
 08-Apr-20200.3747
 02-Apr-20200.2570
 25-Mar-20200.6325
 18-Mar-20200.6678
 11-Mar-20200.6664
 04-Mar-20200.6491
 26-Feb-20200.6754
 19-Feb-20200.6672
 12-Feb-20200.6757
 05-Feb-20200.6705
 29-Jan-20200.6823
 22-Jan-20200.6702
Dividend Monthly24-Jun-20202.4308

 26-May-20202.7424
 24-Apr-20202.2501
 24-Mar-20202.7225
 24-Feb-20202.9726
 24-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: http://www.miraeassetmf.co.in

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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