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5 star

Mirae Asset Overnight Fund - Direct Plan


Debt: Overnight

1 Lakh

Investment Grown to
₹ 1.03 Lakh

₹ 10000

Monthly SIP Grown to
₹ 1.22 Lakh

Suitability:

Overnight funds invest in bonds having a maturity of just one day. They are suitable to earn a little extra on idle money lying in the bank. You may invest in these funds the money that you have set aside to meet any emergency needs or any surplus money that you don't need for a few days up to a year.

The risk of incurring a loss in these funds is negligible but they do not guarantee returns or safety of capital.

Remember, these funds are geared to deliver only marginally higher returns than your bank account. They deliver steady, but low returns and are not suitable to build wealth in the long run.

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 are added to the income of the investors and taxed according to their respective tax slabs. Further, if an investor's dividend income exceeds Rs. 5,000 in a financial year, the fund house also deducts a TDS of 10% before distributing the dividend.

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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 1.45 0.01 0.06 0.29 0.82 1.59 3.16 -- -- -- --
CCIL T Bill Liquidity Weight 0.86 0.00 0.06 0.17 0.51 0.97 2.13 -- -- -- --
Debt: Overnight 1.42 0.01 0.06 0.27 0.80 1.55 3.09 -- -- -- --
Rank within category 1 5 4 2 1 1 2 -- -- -- --
Number of funds in category 30 30 30 30 30 30 30 4 3 3 0

As on 15-Jun-2021

Peer Comparison

Fund name Rating Launch Date 1-Year Return 3-Year Return 5-Year Return Expense Ratio Assets (Cr)
Mirae Asset Overnight Fund - Direct Plan  | Invest Online
5 star
Oct-19 3.16 -- -- 0.11 311
Nippon India Overnight Fund - Direct Plan  | Invest Online
4 star
Dec-18 3.08 -- -- 0.10 5,552
DSP Overnight Fund - Direct Plan  | Invest Online
5 star
Jan-19 3.10 -- -- 0.10 920
Sundaram Overnight Fund - Direct Plan
4 star
Mar-19 3.04 -- -- 0.10 539
HSBC Overnight Fund - Direct Plan  | Invest Online
4 star
May-19 3.14 -- -- 0.11 455

Best & Worst Performance

Best Performance Worst Performance
Return (%) Period Return (%) Period
Week 0.12 25-Oct-2019 - 03-Nov-2019 0.02 26-Mar-2020 - 02-Apr-2020
Month 0.43 25-Oct-2019 - 26-Nov-2019 0.22 25-Mar-2020 - 24-Apr-2020
Quarter 1.25 25-Oct-2019 - 26-Jan-2020 0.75 15-Oct-2020 - 14-Jan-2021
Year 3.96 18-Oct-2019 - 19-Oct-2020 3.11 25-Mar-2020 - 25-Mar-2021

Risk Measures (%)

Mean Std Dev Sharpe Sortino Beta Alpha
Fund -- -- -- -- -- --
CCIL T Bill Liquidity Weight* 3.52 0.39 -2.00 -4.76 -- --
Debt: Overnight* 4.59 0.41 0.73 3.42 0.68 0.82
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-May-2021

Portfolio Aggregates

Fund 1Y High 1Y Low Category
Number of Securities -- -- -- --
Modified Duration (yrs) -- 0.01 0.01 --
Average Maturity (yrs) 0.00 0.01 0.00 --
Yield to Maturity (%) 3.34 3.48 3.06 --
Avg Credit Rating Cash -- -- --

Value Research Fund Style

Credit Rating vis-à-vis Category

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Top Holdings

The underlying data is unavailable.

As on 31-May-2021

Fund Manager

— Abhishek Iyer since 28-Dec-2020

Education: Mr. Iyer is a B. Com, Master in Finance management, Master of Arts (MA) Economics

Experience: Prior to joining Mirae Asset Mutual Fund, he has worked with IDBI Mutual Fund, IIFL Mutual Fund, L&T Mutual Fund and Sahara Mutual Fund.

Funds Managed:


0.01%

Change from previous, NAV as on 15-Jun-2021

Growth: ₹ 1,061.3625

IDCW Weekly: ₹ 1,000.5312

More

IDCW Monthly: ₹ 1,001.9472

IDCW Daily: ₹ 1,000.0004


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 (₹) --
Lock-in Period Not Applicable
Exit Load 0

Basic Details

Fund House: Mirae Asset Mutual Fund
Launch Date: 15-Oct-2019
Return Since Launch: 3.63%
Benchmark: CRISIL Overnight Index
Riskometer: Low
Type: Open-ended
Assets: ₹ 311 Cr (As on 31-May-2021)
Expense: 0.11% (As on 30-Apr-2021)
Risk Grade: --
Return Grade: High

Most Recent Dividends

Plan Record Date Dividend (₹ / Unit)  
IDCW Daily14-Jun-20210.0879

 13-Jun-20210.1764
 11-Jun-20210.0882
 10-Jun-20210.0884
 09-Jun-20210.0869
 08-Jun-20210.0878
 07-Jun-20210.0883
 06-Jun-20210.1769
 04-Jun-20210.0884
 03-Jun-20210.0882
 02-Jun-20210.0878
 01-Jun-20210.0883
 31-May-20210.0924
 30-May-20210.1747
 28-May-20210.0874
 27-May-20210.0900
 26-May-20210.0905
 25-May-20210.0906
 24-May-20210.0901
 23-May-20210.1797
 21-May-20210.0898
 20-May-20210.0900
 19-May-20210.0899
 18-May-20210.0900
 17-May-20210.0899
IDCW Weekly09-Jun-20210.6167

 02-Jun-20210.5307
 27-May-20210.7209
 19-May-20210.6279
 12-May-20210.6340
 05-May-20210.6168
 28-Apr-20210.5206
 22-Apr-20210.6114
 15-Apr-20210.6706
 07-Apr-20210.6184
 31-Mar-20210.6261
 24-Mar-20210.6219
 17-Mar-20210.6167
 10-Mar-20210.6051
 03-Mar-20210.5920
 24-Feb-20210.5054
 17-Feb-20210.5874
 10-Feb-20210.6097
 03-Feb-20210.6131
 27-Jan-20210.6162
 20-Jan-20210.6071
 13-Jan-20210.6134
 06-Jan-20210.5465
 30-Dec-20200.6048
 23-Dec-20200.6173
IDCW Monthly24-May-20212.5072

 26-Apr-20212.8755
 24-Mar-20212.4397
 24-Feb-20212.4958
 25-Jan-20212.7308
 24-Dec-20202.4846
 24-Nov-20202.2967
 26-Oct-20202.7906
 24-Sep-20202.6590
 24-Aug-20202.6847
 24-Jul-20202.5173
 24-Jun-20202.4964
 26-May-20202.8309
 24-Apr-20202.3318
 24-Mar-20202.7630
 24-Feb-20203.0526
 24-Jan-20202.9560
 24-Dec-20192.7106

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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