Mahindra Manulife Overnight Fund Direct Growth

Mahindra Manulife Overnight Fund Direct Growth is a debt fund. This fund was started on 24 July, 2019. The fund is managed by Amit Garg, Rahul Pal. This fund is suitable to keep your money safe.

1. Mahindra Manulife Overnight Fund Direct Growth has ₹247 Cr worth of assets under management (AUM) as on Jun 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 5.05% since inception. Over the last 1, 3 and 5 years the fund has given a CAGR return of 6.41%, 6.44% and 5.19% respectively.

Mahindra Manulife Overnight Fund Direct Growth has allocated its funds majorly in Cash Equivalent. Its top holdings are 364 Days Tbill (Md 19/06/2025), 182 DTB 27062025, 364 DTB 10072025

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 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.