Axis Overnight Fund Direct Growth

Axis Overnight Fund Direct Growth

Debt

Direct

Overnight

NAV as on 11-12-2024

₹ 1325.08

Inception Returns

5%

/yr

About Axis Overnight Fund Direct Growth

Axis Overnight Fund Direct Growth is a debt fund. This fund was started on 6 March, 2019. The fund is managed by Sachin Jain. This fund is suitable to keep your money safe.

Key Parameters

  1. Axis Overnight Fund Direct Growth has ₹9263 Cr worth of assets under management (AUM) as on Dec 1969 and is more than category average.
  2. The fund has an expense ratio 0.1.

Returns

Axis Overnight Fund Direct Growth has given a CAGR return of 5.00% since inception. Over the last 1, 3 and 5 years the fund has given a CAGR return of 6.76%, 6.01% and 4.94% respectively.

Holdings

Axis Overnight Fund Direct Growth has allocated its funds majorly in Cash Equivalent, Government. Its top holdings are 91 DTB 21112024, 364 DTB 28112024, 364 DTB 05122024, 182 DTB 12122024

Taxation

As it is a overnight mutual fund the taxation is as follows:
If the fund is debt oriented i.e. asset allocation of more than 65% in debt instruments:
For short term (less than 3 years) capital gains will be taxed at your income slab rate.
For long term (more than 3 years) capital gains will be taxed at 20% with indexation benefit.
Dividends will always be taxed at slab rate.

Investment objective of Axis Overnight Fund Direct Growth

The investment objective of the Scheme is to provide reasonable returns commensurate with very low interest rate risk and providing a high level of liquidity, through investments made primarily in overnight securities having maturity/residual maturity of 1 business day. However, there can be no assurance or guarantee that the investment objective of the scheme would be achieved.

Minimum Investment and lockin period

Minimum investment for lump sum payment is INR 500.00 and for SIP is INR 0.00. Axis Overnight Fund Direct Growth has no lock in period.

Historical NAV & Returns

Annualised

zero opening, trading, fund transfer fee
164 people have invested ₹ 1.4Cr in Axis Overnight Fund Direct Growth in the last three months

Axis Overnight Fund Direct Growth Overview

Expense ratio0.06%
Benchmark
CRISIL Liquid Fund TR INR
AUM₹9263 Cr
Inception Date6 March, 2019
Min Lumpsum/SIP₹500/--
Exit Load0%
Lock InNo Lock-in
TurnOver
611.22%
STCGSelling mutual fund within 36 months, gains taxed at slab rates.
LTCGHolding over 3 years, gains taxed at slab rates without indexation.
Risk
Risk meter
pointer
Low Risk

Trailing Returns

as on (11-Dec-24)

Period
Axis Overnight Fund Direct Growth
Overnight Index
1M
0.5%
-
3M
1.6%
-
6M
3.3%
-
1Y
6.8%
-
3Y
6%
-
5Y
4.9%
-

Fund Distribution

as on (31-Dec-69)

  • Debt & Cash 100%

AAA
100%

Sector Allocation

Oct'24

Sep'24

Aug'24

Cash Equivalent
100%
All changes are between Oct'69 and Dec'69
Parameters
Oct'24
Sep'24
Aug'24
AUM
₹ 10.3K Cr
₹ 8.1K Cr
₹ 7.9K Cr
  • AUM of the fund stands at 10.3K Cr as of Oct'24
  • AUM increased by 2.1K Cr between Oct'24 and Sep'24
  • Debt & Cash

Holdings
Weight%
1M Change
91 DTB 21112024
91 DTB 21112024
1.89%
0%
364 DTB 28112024
364 DTB 28112024
1.02%
0%
182 DTB 12122024
182 DTB 12122024
0.54%
0%
364 DTB 05122024
364 DTB 05122024
0.54%
0%
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Sachin Jain
Sachin Jain
Fund Manager of Axis Overnight Fund Direct Growth, since 9 November 2021
Fund House
Axis Asset Management Company Limited
Total Schemes
Total AUM
₹3.35L Cr
as on 31-Oct-2024
Address
Axis Asset Management Company Ltd.,Axis House, 1st Floor, C-2, Wadia International Centre,,Pandurang Budhkar Marg, Worli,
Phone
+912243255161
Website
customerservice@axismf.com

Mutual Fund Insights

Insights icon
This fund has one of the lowest expense ratio in the category (overnight). Its expense ratio is 0.06% which is lower than the category average expense ratio of 0.12%.
Insights icon
In the last 3 years, this fund has outperformed all funds in its category.
Insights icon
In the last 5 years, Mirae Asset Overnight Fund Direct Growth has given 4.97% return, outperforming this fund by 0.03% per annum.
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Over the last 1 month, this fund has increased expense ratio by 20.0% moving from 0.05 to 0.06.
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In the last 1 year, this fund has outperformed all funds in its category.
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Over the last 1 month, this fund has experienced a 9.7% drop in AUM moving from 10.25K Cr to 9.26K Cr.

Axis Overnight Fund Direct Growth Highlights

Risk meter
pointer

Low Risk

Investors understand that their principal will be at Low Risk
About the fund

About the fund

This fund has delivered an average annual returns of 5% since inception which is more than its category average return of 3.99%
AUM size ₹9263 Cr

AUM size ₹9263 Cr

This fund has AUM of ₹9263 Cr which is more than its category average of ₹ 2708 Cr
Expense Ratio 0.06%

Expense Ratio 0.06%

This fund has an expense ratio of 0.06% which is less than its category average expense ratio of 0.13%

Frequently Asked Questions for Axis Overnight Fund Direct Growth

The current NAV of Axis Overnight Fund Direct Growth is ₹1325.08 as on 11-Dec-2024.
Existing (Absolute + CAGR) as on 11-Dec-2024.
Axis Overnight Fund Direct Growth
Absolute Returns
CAGR Returns
1 Month Returns
0.53%
0.53%
6 Month Returns
3.28%
3.28%
1 Year Returns
6.76%
6.76%
3 Years Returns
19.14%
6.01%
5 Years Returns
27.25%
4.94%
With INDmoney, the process of investing is very simple and involves zero commission.
  • Click Buy on the fund name.
  • Input the amount you are looking to invest.
  • Select Lump Sum or SIP (Weekly, Monthly or Quarterly).
  • Select your bank account and proceed with Payment.
0.06% as on November 2024
₹9263 Cr as on November 2024
Yield to Maturity is 6.32 as on November 2024. Yield to Maturity is the total return earned on your bond investments if you hold the bond investments till maturity & all bonds' proceeds are reinvested in it.
Modified Duration is 0.01 as on November 2024. Modified Duration tells the sensitivity of the price of a bond to a change in interest rate.
AAA
100
Sachin Jain is the fund manager of Axis Overnight Fund Direct Growth
The Exit load of Axis Overnight Fund Direct Growth is 0%