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JM 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 0.26 0.01 0.09 0.38 -- -- -- -- -- -- --
Debt: Overnight 0.26 0.01 0.09 0.39 -- -- -- -- -- -- --
Rank within category 20 13 15 25 -- -- -- -- -- -- --
Number of funds in category 28 29 29 28 26 20 10 3 3 3 3

As on 21-Jan-2020

Best & Worst Performance

Best (Period) Worst (Period)
Week -- ( - ) -- ( - )
Month 0.37 (04-Dec-2019 - 03-Jan-2020) 0.36 (10-Dec-2019 - 09-Jan-2020)
Quarter -- ( - ) -- ( - )
Year -- ( - ) -- ( - )

Risk Measures (%)

Mean Std Dev Sharpe Sortino Beta Alpha
Fund -- -- -- -- -- --
Debt: Overnight* 5.49 0.27 -1.15 -1.57 0.35 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-Dec-2019

Portfolio Aggregates

Fund 1Y High 1Y Low Category
Number of Securities -- -- -- --
Modified Duration (yrs) -- -- -- --
Average Maturity (yrs) 0.00 0.00 0.00 --
Yield to Maturity (%) 4.73 4.73 4.73 --

Value Research Fund Style

Credit Rating vis-à-vis Category

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Top Holdings

The underlying data is unavailable.

As on 31-Dec-2019

Fund Manager

— Shalini Tibrewala since 03-Dec-2019

Education: Ms. Tibrewala is a B.Com (H), ACA and CS.

Experience: She has been associated with JM Financials since 2003.

Funds Managed:


0.01%

Change from previous, NAV as on 21-Jan-2020

Growth: ₹ 1,006.2260

Dividend Weekly: ₹ 1,000.0000

Dividend Daily: ₹ 1,000.0000


Investment Strategy

The Scheme seeks to provide reasonable returns commensurate with low risk and providing a 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 (₹) 500
Minimum No of Cheques 10
Minimum Withdrawal (₹) --
Minimum Balance (₹) --
Exit Load 0

Basic Details

Fund House: JM Financial Mutual Fund
Launch Date: 03-Dec-2019
Return Since Launch: 0.62%
Benchmark: CRISIL Overnight Index
Riskometer: Low
Type: Open-ended
Assets: ₹ 73 Cr (As on 31-Dec-2019)
Expense: -- (As on )
Risk Grade: --
Return Grade: --

Most Recent Dividends

Plan Record Date Dividend (₹ / Unit)  
Dividend Daily20-Jan-20200.0904

 19-Jan-20200.0974
 18-Jan-20200.0944
 17-Jan-20200.0969
 16-Jan-20200.0938
 15-Jan-20200.0966
 14-Jan-20200.0941
 13-Jan-20200.0927
 12-Jan-20200.0914
 11-Jan-20200.0913
 10-Jan-20200.0912
 09-Jan-20200.0911
 08-Jan-20200.0924
 07-Jan-20200.0929
 06-Jan-20200.0924
 05-Jan-20200.0721
 04-Jan-20200.0761
 03-Jan-20200.0717
 02-Jan-20200.0533
 01-Jan-20200.0878
 31-Dec-20190.0896
 30-Dec-20190.0870
 29-Dec-20190.0870
 28-Dec-20190.0872
 27-Dec-20190.0875
Dividend Weekly14-Jan-20200.6417

 07-Jan-20200.5392
 31-Dec-20190.6165
 24-Dec-20190.6534
 17-Dec-20190.6968
 10-Dec-20190.0073

Contact Information

AMC: JM Financial Asset Management Ltd.

Address: Office B-8th Floor-Cnergy, Appasaheb Marathe Marg, Prabhadevi, Mumbai - 400025

Phone: 022-33797777 / 1800-103-8345

Fax: 022-26528388

Email: [email protected]

Website: www.JMFinancialmf.com

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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Value Investing

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