Best Overnight Fund

Best Overnight Fund

The table below shows the Best Overnight Fund based on AUM, NAV, and minimum SIP. 

NameAUMMinimum Lump SumNAV
SBI Overnight Fund14,332.175,000.003,912.34
Axis Overnight Fund10,498.825001,272.00
Kotak Overnight Fund7,189.011001,282.71
ICICI Pru Overnight Fund7,030.251001,296.03
HDFC Overnight Fund6,753.591003,568.38
Nippon India Overnight Fund5,745.24100129.13
Aditya Birla SL Overnight Fund5,357.215001,300.60
UTI Overnight Fund2,978.1520,000.003,291.47
Tata Overnight Fund2,884.265,000.001,268.62
HSBC Overnight Fund1,863.155,000.001,258.31

Content :

Top Overnight Funds

The table below shows the Top Overnight Funds based on the lowest to highest expense ratio. 

NameExpense Ratio
ICICI Pru Overnight fund-Direct Plan-Unclaimed IDCW Transitory Scheme
ICICI Pru Overnight fund-Direct Plan-Unclaimed IDCW Stable Scheme
ICICI Pru Overnight fund-Direct Plan-Unclaimed Redemption Stable Scheme
ICICI Pru Overnight fund-Direct Plan-Unclaimed Redemption IDCW Transitory Scheme
Mirae Asset Overnight Fund0.04
Aditya Birla SL Overnight Fund0.04
Axis Overnight Fund0.05
Bandhan Overnight Fund0.05
UTI Overnight Fund0.05
NJ Overnight Fund0.05

Best Overnight Fund

The table below shows the Best Overnight Fund In India based on the Highest 3Y CAGR. 

NameCAGR 3Y
ICICI Pru Overnight Fund126.73
Bank of India Overnight Fund5.34
Mirae Asset Overnight Fund5.29
HSBC Overnight Fund5.28
Axis Overnight Fund5.28
Nippon India Overnight Fund5.27
Mahindra Manulife Overnight Fund5.27
DSP Overnight Fund5.26
LIC MF Overnight Fund5.26
Aditya Birla SL Overnight Fund5.26

Overnight Mutual Funds

The table below shows Overnight Mutual Funds based on exit load i.e., the fee that the AMC charges investors when exiting or redeeming their fund units.

NameExit LoadAMC
ICICI Pru Overnight fund-Direct Plan-Unclaimed IDCW Transitory Scheme0ICICI Prudential Asset Management Company Limited
ICICI Pru Overnight fund-Direct Plan-Unclaimed IDCW Stable Scheme0ICICI Prudential Asset Management Company Limited
ICICI Pru Overnight fund-Direct Plan-Unclaimed Redemption Stable Scheme0ICICI Prudential Asset Management Company Limited
ICICI Pru Overnight fund-Direct Plan-Unclaimed Redemption IDCW Transitory Scheme0ICICI Prudential Asset Management Company Limited
Bank of India Overnight Fund0Bank of India Investment Managers Private Limited
Invesco India Overnight Fund0Invesco Asset Management Company Pvt Ltd.
JM Overnight Fund0JM Financial Asset Management Private Limited
Mirae Asset Overnight Fund0Mirae Asset Investment Managers (India) Private Limited
ITI Overnight Fund0ITI Asset Management Limited
PGIM India Overnight Fund0PGIM India Asset Management Private Limited

Best Overnight Mutual Funds

The table below shows the Best Overnight Mutual Funds based on Absolute Return 1 Year and AMC. 

NameAbsolute Returns – 1YAMC
Quant Overnight Fund7.35Quant Money Managers Limited
Bank of India Overnight Fund6.88Bank of India Investment Managers Private Limited
Axis Overnight Fund6.83Axis Asset Management Company Ltd.
Mirae Asset Overnight Fund6.83Mirae Asset Investment Managers (India) Private Limited
DSP Overnight Fund6.82DSP Investment Managers Private Limited
Nippon India Overnight Fund6.82Nippon Life India Asset Management Limited
Invesco India Overnight Fund6.82Invesco Asset Management Company Pvt Ltd.
Tata Overnight Fund6.82Tata Asset Management Private Limited
HSBC Overnight Fund6.82HSBC Global Asset Management (India) Private Limited
Aditya Birla SL Overnight Fund6.81Aditya Birla Sun Life AMC Limited

Best Overnight Fund – FAQs  

1. What are the Best Overnight Mutual Funds?

Best Overnight Mutual Funds #1: SBI Overnight Fund

Best Overnight Mutual Funds #2: Kotak Overnight Fund

Best Overnight Mutual Funds #3: ICICI Pru Overnight fund-Direct Plan-Unclaimed Redemption IDCW Transitory Scheme

Best Overnight Mutual Funds #4: ICICI Pru Overnight Fund

Best Overnight Mutual Funds #5: ICICI Pru Overnight fund-Direct Plan-Unclaimed IDCW Transitory Scheme

These funds are listed based on the Highest AUM.

2. Is it good to invest in overnight funds?

Overnight funds are comparatively safer within the realm of debt funds, offering minimal credit risk and no interest rate risk. Securities maturing in a day rarely default on interest payments, ensuring enhanced safety.

3. Are overnight funds profitable?

Overnight funds prioritize safety and liquidity over high returns. They are ideal for investors seeking low-risk and easy access to their funds due to their focus on stability and liquidity.

4. What are the returns in overnight mutual funds?

Overnight funds have, on average, provided an annual return of 6.52% over the past year.

5. Who should invest in overnight fund?

An overnight fund is ideal for investors seeking short-term investments. These funds remain unaffected by interest rate changes and security defaults, making them a secure choice in the realm of debt mutual funds.

6. Are overnight funds better than FD?

Overnight funds are deemed safer compared to liquid funds and other debt funds. They generate returns from the interest earned on their overnight investments, making them a secure investment option.

Introduction to Best Overnight Fund

Best Overnight Fund – AUM, NAV

SBI Overnight Fund

SBI Overnight Fund Direct-Growth, managed by SBI Mutual Fund, is an overnight mutual fund scheme with a tenure of 10 years and 9 months. The fund currently manages assets worth ₹14,772 Crores. 

Kotak Overnight Fund

Kotak Overnight Fund Direct – Growth, offered by Kotak Mahindra Mutual Fund, is an overnight mutual fund scheme with a history of 4 years and 9 months. The fund currently manages assets worth ₹9,806 Crores.

ICICI Pru Overnight fund-Direct Plan-Unclaimed Redemption IDCW Transitory Scheme

ICICI Prudential Overnight Fund – Direct Plan – Unclaimed IDCW Stable Scheme, a debt fund managed by Rohan Maru, was initiated on December 1, 2021. With ₹9447 Crores in assets under management (AUM) as of December 1969, it surpasses the category average. This fund provides a secure option for your investments.

Top Overnight Funds – Expense Ratio

ICICI Pru Overnight fund-Direct Plan-Unclaimed Redemption IDCW Transitory Scheme

ICICI Prudential Asset Management Company Ltd., a prominent AMC in India, is a joint venture between ICICI Bank and Prudential Plc, a major player in the UK’s financial services sector. The AMC operates with an expense ratio of 0, indicating low management costs.

ICICI Pru Overnight fund-Direct Plan-Unclaimed IDCW Stable Scheme

ICICI Prudential Overnight Fund – Direct Plan – Unclaimed IDCW Stable Scheme, a debt fund managed by Rohan Maru, started on December 1, 2021. With an expense ratio of 0, it offers a safe investment option. 

ICICI Pru Overnight fund-Direct Plan-Unclaimed Redemption Stable Scheme

ICICI Prudential Asset Management Company Ltd. is a leading AMC in the country, established through a joint venture between ICICI Bank and Prudential Plc, a major player in the UK’s financial services sector. The AMC operates with an expense ratio of 0, reflecting low management costs.

Best Overnight Fund- CAGR 3Y

ICICI Pru Overnight Fund

ICICI Prudential Overnight Fund Direct – Growth, offered by ICICI Prudential Mutual Fund, is an overnight mutual fund scheme with a tenure of 4 years and 11 months. The fund has achieved a remarkable Compound Annual Growth Rate (CAGR) of 125.32% over the past 3 years.

Bank of India Overnight Fund

Bank of India Overnight Fund Direct – Growth, managed by Bank of India Mutual Fund, is an overnight mutual fund scheme with a tenure of 3 years and 8 months. The fund has achieved a Compound Annual Growth Rate (CAGR) of 4.69% over the past 3 years.

Mirae Asset Overnight Fund

Mirae Asset Overnight Fund Direct – Growth, offered by Mirae Asset Mutual Fund, is an overnight mutual fund scheme with a 4-year tenure. The fund has achieved a Compound Annual Growth Rate (CAGR) of 4.64% over the past 3 years.

Overnight Mutual Funds – Exit Load 

Invesco India Overnight Fund

Invesco India Overnight Fund Direct – Growth, managed by Invesco Mutual Fund, offers a secure and liquid investment option aimed at minimal risk exposure. This overnight mutual fund scheme allows for quick and easy redemptions without an exit load, catering to investors seeking stability and immediate access to their funds.

JM Overnight Fund

JM Overnight Fund Direct – Growth, managed by JM Financial Mutual Fund, is an overnight mutual fund scheme. Since its inception, it provides investors a low-risk option with liquidity, allowing them to redeem their investments easily without any exit load. The fund focuses on security and minimal interest rate risk.

ITI Overnight Fund

ITI Overnight Fund Direct – Growth, managed by ITI Mutual Fund, is an overnight mutual fund scheme that has been operating for 4 years and 6 months. With ₹200 crores in assets, this fund offers an expense ratio of 0.08%, providing investors with a straightforward and accessible investment option with no exit load.

Best Overnight Mutual Funds  – Absolute Returns – 1Y

DSP Overnight Fund

DSP Overnight Fund Direct – Growth, offered by DSP Mutual Fund, is an overnight mutual fund scheme with a tenure of 4 years and 9 months. It has delivered absolute returns of 6.58% over the past year.

HSBC Overnight Fund

HSBC Overnight Fund Direct – Growth, managed by HSBC Mutual Fund, is an overnight mutual fund scheme with a history of 4 years and 5 months. It has delivered absolute returns of 6.58% over the past year.

Axis Overnight Fund

Axis Overnight Fund Direct – Growth, offered by Axis Mutual Fund, is an overnight mutual fund scheme with a tenure of 4 years and 7 months. It has delivered absolute returns of 6.58% over the past year.

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Disclaimer: The above article is written for educational purposes, and the companies’ data mentioned in the article may change over time.

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