Mirae Asset Overnight Fund Direct Growth

Mirae Asset Overnight Fund Direct Growth

Debt

Direct

Overnight

NAV as on 03-11-2024

₹ 1275.78

Inception Returns

4.9%

/yr

About Mirae Asset Overnight Fund Direct Growth

Mirae Asset Overnight Fund Direct Growth is a debt fund. This fund was started on 15 October, 2019. The fund is managed by Abhishek Iyer. This fund is suitable to keep your money safe.

Key Parameters

  1. Mirae Asset Overnight Fund Direct Growth has ₹989 Cr worth of assets under management (AUM) as on Dec 1969 and is less than category average.
  2. The fund has an expense ratio 0.1.

Returns

Mirae Asset Overnight Fund Direct Growth has given a CAGR return of 4.94% since inception. Over the last 1, 3 and 5 years the fund has given a CAGR return of 6.79%, 5.89% and 4.94% respectively.

Holdings

Mirae Asset Overnight Fund Direct Growth has allocated its funds majorly in Cash Equivalent. Its top holdings are 182 DTB 18102024, 182 DTB 18102024, 91 Day T-Bill 31.10.24, 91 DTB 07112024

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 Mirae Asset Overnight Fund Direct Growth

The investment objective of the scheme is 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. However, there is no assurance or guarantee that the investment objective of the Scheme will be achieved. The scheme does not assure or guarantee any returns.

Minimum Investment and lockin period

Minimum investment for lump sum payment is INR 5000.00 and for SIP is INR 99.00. Mirae Asset Overnight Fund Direct Growth has no lock in period.

Historical NAV & Returns

Annualised

zero opening, trading, fund transfer fee
25 people have invested ₹ 49.9L in Mirae Asset Overnight Fund Direct Growth in the last three months

Mirae Asset Overnight Fund Direct Growth Overview

Expense ratio0.07%
Benchmark
CRISIL Liquid Fund TR INR
AUM₹989 Cr
Inception Date15 October, 2019
Min Lumpsum/SIP₹5000/₹99
Exit Load0%
Lock InNo Lock-in
TurnOver
15269.71%
STCGSelling within 36 months, gains taxed at slab rates.
LTCGHolding over 3 years, gains taxed at slab rates without indexation.
Risk
Risk meter
pointer
Low to Moderate Risk

Trailing Returns

as on (03-Nov-24)

Period
Mirae Asset Overnight Fund Direct Growth
Overnight Index
1M
0.5%
-
3M
1.6%
-
6M
3.3%
-
1Y
6.8%
-
3Y
5.9%
-
5Y
4.9%
-

Fund Distribution

as on (31-Dec-69)

  • Debt & Cash 100%

AAA
100%

Sector Allocation

Sep'24

Aug'24

Jul'24

Cash Equivalent
92.1%
Corporate
7.9%
All changes are between Oct'69 and Dec'69
Parameters
Sep'24
Aug'24
Jul'24
AUM
₹ 498 Cr
₹ 1.2K Cr
₹ 1.2K Cr
  • AUM of the fund stands at 498 Cr as of Sep'24
  • AUM decreased by 749.2 Cr between Sep'24 and Aug'24

Top Sector in September was Government

Sep'24
Corporate
8%
Aug'24
Government
2%
  • Debt & Cash

Holdings
Weight%
1M Change
91 Day T-Bill 31.10.24
91 Day T-Bill 31.10.24
1.01%
0%
182 DTB 18102024
182 DTB 18102024
1.01%
0%
182 DTB 18102024
182 DTB 18102024
1.01%
0%
91 DTB 07112024
91 DTB 07112024
0.5%
0%
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Abhishek Iyer
Abhishek Iyer
Fund Manager of Mirae Asset Overnight Fund Direct Growth, since 28 December 2020
Fund House
Mirae Asset Investment Managers (India) Private Limited
Total Schemes
Total AUM
₹1.88L Cr
as on 30-Sep-2024
Address
Mirae Asset Investment Managers (India) Private Limited.,Unit No. 606, 6th Floor,,Windsor Bldg, Off CST Road,,Kalina, Santacruz (East), Mumbai - 400 098
Phone
91-22-22-6780300
Website
customercare@miraeasset.com

Mutual Fund Insights

Insights icon
In the last 3 years, Axis Overnight Fund Direct Growth has given 5.89% return, outperforming this fund by 0% per annum.
Insights icon
In the last 1 year, Axis Overnight Fund Direct Growth has given 6.79% return, outperforming this fund by 0%.
Insights icon
Over the last 1 month, this fund has experienced a 98.6% growth in AUM moving from 498.04 Cr to 989.35 Cr.
Insights icon
In the last 5 years, this fund has outperformed all funds in its category.
Insights icon
This fund has one of the lowest expense ratio in the category (overnight). Its expense ratio is 0.07% which is lower than the category average expense ratio of 0.12%.

Mirae Asset Overnight Fund Direct Growth Highlights

Risk meter
pointer

Low to Moderate Risk

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

About the fund

This fund has delivered an average annual returns of 4.94% since inception which is more than its category average return of 3.88%
AUM size ₹989 Cr

AUM size ₹989 Cr

This fund has AUM of ₹989 Cr which is less than its category average of ₹ 2843 Cr
Expense Ratio 0.07%

Expense Ratio 0.07%

This fund has an expense ratio of 0.07% which is less than its category average expense ratio of 0.14%

Frequently Asked Questions for Mirae Asset Overnight Fund Direct Growth

The current NAV of Mirae Asset Overnight Fund Direct Growth is ₹1275.78 as on 03-Nov-2024.
Existing (Absolute + CAGR) as on 03-Nov-2024.
Mirae Asset Overnight Fund Direct Growth
Absolute Returns
CAGR Returns
1 Month Returns
0.54%
0.54%
6 Month Returns
3.3%
3.3%
1 Year Returns
6.79%
6.79%
3 Years Returns
18.74%
5.89%
5 Years Returns
27.26%
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.
0.07% as on October 2024
₹989 Cr as on October 2024
Yield to Maturity is 6.67 as on October 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.
AAA
100
Abhishek Iyer is the fund manager of Mirae Asset Overnight Fund Direct Growth
The Exit load of Mirae Asset Overnight Fund Direct Growth is 0%