Mahindra Manulife Overnight Fund Direct Growth

Mahindra Manulife Overnight Fund Direct Growth is a hybrid fund. This fund was started on 24 July, 2019. The fund is managed by Rahul Pal, Amit Garg. This fund gives you the benefit of diversification.

1. Mahindra Manulife Overnight Fund Direct Growth has ₹97 Cr worth of assets under management (AUM) as on Oct 2025 and is more than category average.
2. The fund has an expense ratio 0.1.
   

Mahindra Manulife Overnight Fund Direct Growth has given a CAGR return of 5.08% since inception. Over the last 1, 3 and 5 years the fund has given a CAGR return of 6.02%, 6.45% and 5.36% respectively.

Mahindra Manulife Overnight Fund Direct Growth has allocated its funds majorly in Cash Equivalent, Government.

As it is a overnight mutual fund the taxation is as follows:
If the fund is equity oriented i.e. asset allocation of more than 65% in equity instruments:
For short term (less than a year) capital gains will be taxed at 20%
For long term (more than 1 year) capital gains will be taxed at 12.5% without indexation benefit
Long term gains up to Rs 1 lakh are exempt from taxation (more than 12 months).

The primary objective of the Scheme is to seek 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 including TREPS (Tri-Party Repo) and Reverse Repo. However, there is no assurance or guarantee that the investment objective of the scheme will be achieved.

Minimum investment for lump sum payment is INR 1000.00 and for SIP is INR 0.00. Mahindra Manulife Overnight Fund Direct Growth has no lock in period.