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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 2.91 0.01 0.07 0.28 0.81 1.62 3.22 -- -- -- --
CCIL T Bill Liquidity Weight 1.84 0.03 0.05 0.20 0.47 1.08 2.01 -- -- -- --
Debt: Overnight 2.86 0.01 0.07 0.28 0.80 1.60 3.16 -- -- -- --
Rank within category 3 2 8 12 6 5 3 -- -- -- --
Number of funds in category 30 30 30 30 30 30 30 6 3 3 0

As on 26-Nov-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 3.22 -- -- 0.12% 508
DSP Overnight Fund - Direct Plan  | Invest Online
4 star
Jan-19 3.16 -- -- 0.06% 3,147
Edelweiss Overnight Fund - Direct Plan  | Invest Online
4 star
Jul-19 3.14 -- -- 0.11% 757
HSBC Overnight Fund - Direct Plan  | Invest Online
4 star
May-19 3.22 -- -- 0.11% 756
Baroda Overnight Fund - Direct Plan
4 star
Apr-19 3.17 -- -- 0.09% 490

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* 3.25 0.40 -1.53 -4.22 -- --
Debt: Overnight* 4.17 0.38 0.81 4.39 0.65 0.71
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-Oct-2021

Portfolio Aggregates

Fund 1Y High 1Y Low Category
Number of Securities -- -- -- 1
Modified Duration (yrs) 0.01 0.01 0.01 --
Average Maturity (yrs) 0.01 0.01 0.00 --
Yield to Maturity (%) 3.39 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-Oct-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:


--

Change from previous, NAV as on 28-Nov-2021

Growth: ₹ 1,076.8941

IDCW Weekly: ₹ 1,000.3570

More

IDCW Monthly: ₹ 1,000.3559

IDCW Daily: ₹ 1,000.0006


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: 3.55%
Benchmark: CRISIL Overnight Index
Riskometer: Low
Type: Open-ended
Assets: ₹ 508 Cr (As on 31-Oct-2021)
Expense: 0.12% (As on 31-Oct-2021)
Risk Grade: --
Return Grade: High

Most Recent Dividends

Plan Record Date Dividend (₹ / Unit)  
IDCW Daily26-Nov-20210.0887

 25-Nov-20210.0897
 24-Nov-20210.0905
 23-Nov-20210.1048
 22-Nov-20210.0966
 21-Nov-20210.2735
 18-Nov-20210.0911
 17-Nov-20210.0895
 16-Nov-20210.0889
 15-Nov-20210.0885
 14-Nov-20210.1738
 12-Nov-20210.0869
 11-Nov-20210.0882
 10-Nov-20210.0887
 09-Nov-20210.0897
 08-Nov-20210.0912
 07-Nov-20210.3694
 03-Nov-20210.0924
 02-Nov-20210.0899
 01-Nov-20210.0889
 31-Oct-20210.1785
 29-Oct-20210.0893
 28-Oct-20210.0894
 27-Oct-20210.0907
 26-Oct-20210.0923
IDCW Monthly24-Nov-20212.7250

 25-Oct-20212.7171
 24-Sep-20212.6485
 24-Aug-20212.4787
 26-Jul-20212.8172
 24-Jun-20212.7500
 24-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
IDCW Weekly24-Nov-20210.6567

 17-Nov-20210.6158
 10-Nov-20210.6372
 03-Nov-20210.6257
 27-Oct-20210.6328
 20-Oct-20210.6020
 13-Oct-20210.5938
 06-Oct-20210.6197
 29-Sep-20210.6227
 22-Sep-20210.6174
 15-Sep-20210.5964
 08-Sep-20210.5777
 01-Sep-20210.5904
 25-Aug-20210.5877
 18-Aug-20210.5908
 11-Aug-20210.6005
 04-Aug-20210.6138
 28-Jul-20210.5266
 22-Jul-20210.7011
 14-Jul-20210.6164
 07-Jul-20210.6134
 30-Jun-20210.6177
 23-Jun-20210.6239
 16-Jun-20210.6177
 09-Jun-20210.6167

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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