This 2-Year Old Overnight Fund Has Delivered Good Returns Since Launch; Should You Invest?

Overnight funds are open-ended debt mutual funds that invest in one-day overnight securities. The fund management buys securities in these schemes on a daily basis. These securities mature in a day and the entire cash is deployed to buying new securities. This investment mandate makes these schemes highly liquid.

BOI AXA Overnight Fund - Direct Plan-Growth

This is a debt overnight fund and was launched on 28 January 2020 by the BOI AXA Mutual Fund. Under the fund's Direct Plan its Assets Under management are Rs 35.35 crore and the NAV as of 28th March 2022 is RS 1075.818. The fund has an expense ratio of 0.9%, which is equal to its category average. It is an open-ended small fund of its category. This is a low-risk fund and with no lock-in period mutual fund. For a lump-sum payment, a minimum investment of Rs 5000 is required in the fund. Investors who are seeking a short-term investment option to bank accounts or deposits. This fund is ideal for securing your funds. This fund has been rated 5 stars by Value Research. The fund is managed by Mithrarem Bharucha.

Absolute And Annualised Returns

On Lump-Sum Investment

Since its launch, it has delivered 3.43% average annual returns.

Investment Tenure	Absolute Returns	Annualised Returns
1 Year	3.38%	3.39%
2 Year	6.72%	3.30%
Since Inception	7.57%	3.43%

Disclaimer

Mutual fund investments are subject to market risk. Read all scheme-related documents, and Terms and Conditions carefully before investing. The above-mentioned information is purely informational and doesn't guarantee any return. The Greynium Information Technologies and the Author are not liable for any losses caused as a result of a decision based on the article.