Five Best Overnight Debt Funds to Invest in
Last Updated : June 29, 2020, 6:35 p.m.
Overnight funds are a type of open-ended debt funds that invest in debt securities for a day. These funds have a maturity profile of a day and basis the amount of money invested, and redeemed securities are bought and sold daily.
Top Mutual Funds to Invest in Now
Five Best Overnight Funds
DSP Overnight Fund
This fund is offered by DSP Mutual Fund . These are the key points to note about this fund:
- This fund was launched on 9th Jan 2019.
- The benchmark of the fund is the CRISIL Overnight Index.
- The fund has delivered 5.09% annualized returns since launch.
- DSP Overnight Fund manages an AUM of INR 2,696 crores.
Nippon India Overnight Fund
This fund is offered by Nippon Mutual Fund . These are the key points to note about this fund:
- This fund was launched on 18th Dec 2018
- The benchmark of the fund is the CRISIL Overnight Index.
- The fund has delivered 5.04% annualized returns since launch.
- Nippon India Overnight Fund manages an AUM of INR 4,597 crores.
Axis Overnight Fund
This fund is offered by Axis Mutual Fund . These are the key points to note about this fund:
- This fund was launched on 15th March 2019
- The benchmark of the fund is the Nifty 1 day rate index.
- The fund has delivered 4.80% annualized returns since launch.
- Axis Overnight Fund manages an AUM of INR 4,199 crores.
UTI Overnight Fund
This fund is offered by UTI Mutual Fund . These are the key points to note about this fund:
- This fund was launched on 9th Dec 2003
- The benchmark of the fund is CRISIL OVERNIGHT INDEX
- The fund has delivered 6.25% annualized returns since launch.
- UTI Overnight Fund manages an AUM of INR 4,900 crores.
Sundaram Overnight Fund
This fund is offered by Sundaram Mutual Fund. These are the key points to note about this fund:
- This fund was launched on 20th March 2019
- The benchmark of the fund is Nifty 1-day rate index
- The fund has delivered 5.34% annualized returns since launch.
- Sundaram Overnight Fund manages an AUM of INR 775 crores.
Returns of Overnight Funds
These are the returns delivered by these funds in % terms in a regular plan.
| Fund Name | Last 3 Months | Last 6 Months | Last 1 Year |
|---|---|---|---|
| DSP Overnight | 0.79 | 1.93 | 4.57 |
| Nippon Overnight | 0.75 | 1.93 | N.A.* |
| Axis Overnight | 0.72 | 1.86 | 4.46 |
| UTI Overnight | 0.72 | 1.85 | 4.45 |
| Sundaram Overnight | 0.71 | 1.86 | 4.50 |
*This fund has not completed a year; these returns are dated 28th June 2020.
To know more about overnight funds, their advantages and should you invest in them, please read another post of ours- Overnight debt funds-definition, advantages and should you invest?
