LIC MF Overnight Fund Direct Growth

LIC MF Overnight Fund Direct Growth is a debt fund. This fund was started on 18 July, 2019. The fund is managed by Rahul Singh. This fund is suitable to keep your money safe.

1. LIC MF Overnight Fund Direct Growth has ₹1032 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.
   

LIC MF Overnight Fund Direct Growth has given a CAGR return of 5.06% since inception. Over the last 1, 3 and 5 years the fund has given a CAGR return of 6.56%, 6.40% and 5.12% respectively.

LIC MF Overnight Fund Direct Growth has allocated its funds majorly in Cash Equivalent, Corporate. Its top holdings are Reliance Jio Infocomm Ltd., Barclays Investments & Loans (India) Limited, Kotak Securities Limited, 91 Days Tbill

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:
Invested before 1 April 2023 and held for less than 24 months, STCG will be taxed at your income slab rate.
Invested before 1 April 2023 and held for more than 24 months, LTCG will be taxed at 12.5%.
Invested after 1 April 2023, capital gains will be taxed at your income slab rate.
Dividends will always be taxed at slab rate.

The investment objective of the Scheme is to provide reasonable returns commensurate with low 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 that the investment objective of the scheme will be achieved.

Minimum investment for lump sum payment is INR 5000.00 and for SIP is INR 200.00. LIC MF Overnight Fund Direct Growth has no lock in period.