Axis Overnight Fund Direct-IDCW Monthly
(Scheme Rating)
NAV as of Aug 29, 2024
1,001.380.02%
- IDCW Monthly - Direct
(Earn upto 0.06% Extra Returns with Direct Plan)
Fund Category:
Debt: Overnight
Expense Ratio:
0.05%(0.08% Category
average)Fund Size:
Rs. 8,181.13 Cr(9.27% of Investment in Category)
- Invest in MFADD TO PORTFOLIO
Axis Overnight Fund Direct-IDCW Monthly
(Scheme Rating)
NAV as of Aug 29, 2024
1,001.380.02%
Expense Ratio:
0.05%
Fund Size:
Rs. 8,181.13 Cr
Fund Category:
Debt: Overnight
1. Current NAV: The Current Net Asset Value of the Axis Overnight Fund - Direct Plan as of Aug 29, 2024 is Rs 1,001.38 for IDCW Monthly option of its Direct plan.
2. Returns: Its trailing returns over different time periods are: 6.84% (1yr), 5.68% (3yr), 4.84% (5yr) and 4.93% (since launch). Whereas, Category returns for the same time duration are: 6.69% (1yr), 5.54% (3yr) and 4.72% (5yr).
3. Fund Size: The Axis Overnight Fund - Direct Plan currently holds Assets under Management worth of Rs 8181.13 crore as on Jul 31, 2024.
4. Expense ratio: The expense ratio of the fund is 0.05% for Direct plan as on Aug 23, 2024.
5. Exit Load: The given fund doesn't attract any Exit Load.
6. Minimum Investment: Minimum investment required is Rs 5000 and minimum additional investment is Rs 1000. Minimum SIP investment is Rs 0.
Axis Overnight Fund Direct-IDCW Monthly Returns
Trailing Returns
Rolling Returns
Discrete Period
SIP Returns
1M 3M 6M 1Y 3Y 5Y Annualized Returns 0.54 1.64 3.30 6.83 5.68 4.84 Category Avg 0.53 1.60 3.22 6.69 5.55 4.72 Rank within Category 6 8 4 5 3 3 No. of funds within Category 36 36 36 35 27 22 - Loading...
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Return Comparison
- This Fund
- BenchmarkMirae Asset Overnight Direct-IDCWM
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- S&P BSE Sensex
- Nifty 50
- 1M
- 3M
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- 1Y
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Axis Overnight Fund Direct-IDCW Monthly Fund Details
Investment Objective - The Scheme seeks to provide reasonable returns commensurate with very low interest rate risk and providing a high level of liquidity, through investments made primarily in overnight securities having maturity/residual maturity of 1 business day.
Fund House | Axis Mutual Fund |
Launch Date | Mar 15, 2019 |
Benchmark | NIFTY 1D Rate Index |
Return Since Launch | 4.93% |
Riskometer | Low |
Type | Open-ended |
Risk Grade | - |
Return Grade | High |
Axis Overnight Fund Direct-IDCW Monthly Investment Details
Minimum Investment (Rs.) | 5,000.00 |
Minimum Additional Investment (Rs.) | 1,000.00 |
Minimum SIP Investment (Rs.) | - |
Minimum Withdrawal (Rs.) | - |
Exit Load | 0% |
Portfolio Allocation
Portfolio Aggregates
Fund | 1Y High | 1Y Low | Category | |
---|---|---|---|---|
Modified Duration(Yrs) | - | 0.0137 | 0.0003 | 0.0029 |
Average Maturity(Yrs) | 0.01 | 0.0137 | 0.0002 | 0.0033 |
Yield to Maturity(%) | 6.45 | 7.28 | 6.38 | 6.461 |
Avg Credit Rating | Low | - | - | - |
Style Box
Investment / Portfolio Grades
Security Type | Weight(%) | Category Avg(%) |
---|---|---|
Government Backed | 4.82 | 2.99 |
Low Risk | - | - |
Moderate Risk | - | - |
High Risk | - | - |
Very High Risk | - | - |
Others | 95.17 | 97.01 |
Type of Holdings
Security Type | Weight(%) | Category Avg(%) |
---|---|---|
GOI | - | - |
CD | - | - |
T-Bills | 4.82 | 2.99 |
CP | - | - |
NCD & Bonds | - | - |
PTC | - | - |
Cash & Others | 95.17 | 96.76 |
Debt Holding In Portfolio
Instrument | Type | Sector | Rating | Value(Mn) | Total Holding(%) | Quantity |
---|---|---|---|---|---|---|
Reserve Bank of India | Short-term Debt | Financial | SOV | 2,194.85 | 2.68 | 2,20,00,000 |
Reserve Bank of India | Short-term Debt | Financial | SOV | 1,249.77 | 1.53 | - |
Reserve Bank of India | Short-term Debt | Financial | SOV | 498.12 | 0.61 | - |
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Peer Comparison
Cumulative Returns
SIP returns
Discrete Returns
Quant Measures
Asset Allocation
Scheme Name NAV(Rs./Unit) Scheme Rating AUM(Rs. Cr) 1M 1Y 3Y 5Y Axis Overnight Fund Direct-IDCW Monthly 1,001.38 8,181.13 0.54 6.83 5.68 4.84 Mirae Asset Overnight Fund Direct-IDCW Monthly 1,000.53 1,214.67 0.54 6.84 5.69 - Bank of India Overnight Fund Direct-IDCW Monthly 1,000.53 188.84 0.55 6.88 5.75 - Aditya Birla Sun Life Overnight Fund Direct-IDCW Monthly 1,005.96 7,080.32 0.54 6.81 5.66 4.83 Nippon India Overnight Fund Direct-IDCW Monthly 100.17 9,114.13 0.54 6.83 5.67 4.84
Risk Ratios
Ratios are calculated using the calendar month returns for the last 3 years
Standard Deviation
Standard Deviation
Standard deviation is the deviation of the fund's return around mean.
Moderate Volatility
0.41VS0.41Fund Vs Category Avg
Beta
Beta
Beta shows the portfolio risk in relation to the market. A beta of less than 1 means that the fund returns are less volatile compared to the broader market. A beta of more than 1 means that the fund returns are more volatile than the broader markets. A beta equal to 1 means that fund's volatility is in line with the broader market.
High Volatality
0.75VS0.74Fund Vs Category Avg
Sharpe Ratio
Sharpe Ratio
Sharpe ratio is a risk adjusted performance measure. A fund with a higher Sharpe ratio is considered better than a fund with a lower Sharpe ratio.
Better risk-adjusted returns
-0.20VS-0.31Fund Vs Category Avg
Treynor's Ratio
Treynor's Ratio
Treynor is a risk adjusted performance measure. A fund with a higher Treynor ratio is considered better than a fund with a lower Treynor ratio.
Better risk-adjusted returns
-0.11VS-0.17Fund Vs Category Avg
Jensen's Alpha
Jensen's Alpha
Alpha shows the ability of the fund manager to outperform the market. A higher Alpha is preferred.
Better risk-adjusted returns
1.45VS1.39Fund Vs Category Avg
Mean Return
Mean Return
Average return generated by the fund during a specified period.
Better average monthly returns
5.45VS5.41Fund Vs Category Avg
Risk Ratio Chart
- Risk Ratio
- Category Average
Axis Mutual Fund News
Fund Manager
- A.P.Aditya PagariaSince Mar 20198 schemes
- S.J.Sachin JainSince Nov 20214 schemes
Mr. Pagaria is a Bachelor in Management Studies and holds a Post Graduate Diploma in Business Management from Institute Of Technology And Management, SK Somaiya College. Prior to joining Axis AMC he was associated with ICICI Prudential AMC (Nov 2011-Jul 2016) as Fund Manager - Fixed Income Operations.
Scheme Name Category Nav(Rs./Unit) Scheme Rating Asset(Rs. Cr) 1Y Axis Short Term Direct Fund-IDCW Monthly Short Duration 10.05 8,413.57 8.13 Axis Money Market Fund Direct-IDCW Monthly Money Market 1,007.93 12,947.57 7.75 Axis Liquid Direct Fund-IDCW Monthly Liquid 1,001.24 27,339.16 7.45 Axis Treasury Advantage Fund Direct-IDCW Monthly Low Duration 1,010.11 4,961.63 7.70 Axis Banking & PSU Debt Direct Plan-IDCW Monthly Banking and PSU 1,033.75 13,679.12 7.47 Axis Multi Asset Allocation Direct Plan-IDCW Monthly Multi Asset Allocation 26.62 1,288.70 27.65 Axis Equity Hybrid Fund Direct-IDCW Monthly Aggressive Hybrid 17.34 1,682.75 28.63 Axis Floater Fund Direct-IDCW Monthly Floater 1,018.06 255.01 9.56 Mr. Jain is a B.Tech, AGMP (Management) Prior to joining Axis Asset Management Company Ltd., he has worked with Sundaram Mutual Fund, I- Cap, Sunidhi securities and Finance Ltd.
Scheme Name Category Nav(Rs./Unit) Scheme Rating Asset(Rs. Cr) 1Y Axis Liquid Direct Fund-IDCW Monthly Liquid 1,001.24 27,339.16 7.45 Axis Arbitrage Fund Direct-IDCW Monthly Arbitrage 11.92 5,605.02 8.24 Axis Money Market Fund Direct-IDCW Monthly Money Market 1,007.93 12,947.57 7.75 Axis Ultra Short Term Fund Direct-IDCW Monthly Ultra Short Duration 10.03 4,958.63 7.71
More Axis Mutual Fund
Scheme Name | Rating | Asset Size(Cr) | 1M | 3M | 6M | 1Y | 3Y |
---|---|---|---|---|---|---|---|
Axis ELSS Tax Saver Direct Plan-Growth | 34,025.16 | 2.52 | 5.75 | 12.28 | 34.02 | 9.79 | |
Axis Liquid Direct Fund -Growth | 33,841.39 | 0.60 | 1.85 | 3.62 | 7.32 | 5.42 | |
Axis Bluechip Fund Direct Plan-Growth | 32,645.86 | 3.88 | 7.89 | 14.04 | 30.20 | 11.36 | |
Axis Midcap Direct Plan-Growth | 25,264.05 | 2.01 | 6.97 | 11.16 | 38.28 | 18.30 | |
Axis Small Cap Fund Direct-Growth | 19,606.42 | -2.97 | 3.61 | 8.96 | 38.67 | 27.19 | |
Axis Banking & PSU Debt Direct Plan -Growth | 13,930.05 | 0.72 | 2.08 | 3.49 | 7.66 | 5.40 | |
Axis Focused 25 Direct Plan-Growth | 13,538.39 | 2.04 | 5.56 | 10.99 | 30.09 | 7.71 | |
Axis Flexi Cap Fund Direct - Growth | 11,490.97 | 2.19 | 5.72 | 11.30 | 31.23 | 12.13 | |
Axis Growth Opportunities Fund Direct - Growth | 11,310.89 | 2.47 | 9.21 | 14.89 | 44.82 | 19.85 | |
Axis Overnight Fund Direct - Growth | 10,498.82 | 0.52 | 1.67 | 3.39 | 6.83 | 5.13 |
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1. Axis Overnight Fund - Direct Plan is Open-ended Overnight Debt scheme which belongs to Axis Mutual Fund House.
2. The fund was launched on Mar 15, 2019.
Investment objective & Benchmark
1. The investment objective of the fund is that " The Scheme seeks to provide reasonable returns commensurate with very low interest rate risk and providing a high level of liquidity, through investments made primarily in overnight securities having maturity/residual maturity of 1 business day. "
2. It is benchmarked against NIFTY 1D Rate Index.
Asset Allocation & Portfolio Composition
1. The portfolio allocation of debt securities primarily have 2 kinds of risks: interest rate risk & credit risk. While the interest rate movements are driven by the fund's duration, credit quality of debt securities are based on the weighted average credit ratings of a fund. Generally, funds with high credit quality will have the weighted average credit rating of AA- and higher rated securities, funds with medium credit quality will hold securities having credit rating lying between A- to BBB- and funds with low credit quality will hold securities having average credit rating of less than BBB-. Credit rating is a qualitative tool that basically assesses the creditworthiness and financial soundness of a company and takes into consideration several factors including the default rate and solvency of the concerned business entity.
2. The portfolio of the fund has securities with varying levels of maturities. Duration takes into consideration the sensitivity of the average maturity of these securities with respect to the interest rate changes. The Average Maturity of Axis Overnight Fund - Direct Plan is 0.01 years and Duration is 0.00273973 years. Generally, securities with high maturity are more sensitive to interest rate changes. So, an investor with a low risk appetite may look to invest in a fund with low maturity and duration vis-a-vis category levels.
3. All these parameters - average maturity, duration, interest rate changes, credit quality, credit rating, liquidity etc. need to be looked at in conjunction with each other to determine the quality of portfolio of a fund.
Tax Implications on Axis Overnight Fund Direct-IDCW Monthly
Capital Gains Tax Implications:
If the investment is made after Apr 1, 2023:
1. The entire amount of gain will be added to the investor's income (irrespective of the period of investment) and will be taxed as per his/her applicable slab rate.
If the investment is made before Apr 1, 2023:
1. If units are redeemed within 3 years of investment, the whole gain will be added to the investor's income and taxed as per his/her applicable slab rate.
2. For units redeemed after 3 years of investment, gains will be taxed at a rate of 20% post-indexation benefits. Indexation is a process of recalculating the purchase price after accounting for inflation into it. The benefit of indexation lies in lowering one's capital gains which brings down the taxable income and thereby reduces taxes on it.
Dividend Tax Implications:
1. For Dividend Distribution Tax, the dividend income from this fund will get added to an investor’s income and taxed according to his/her respective tax slabs.
2. Also, for dividend income more than Rs 5,000 in a financial year; the fund house shall deduct a TDS of 10% on such income.
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FAQs about Axis Overnight Fund Direct-IDCW Monthly
- Is it safe to invest in Axis Overnight Fund - Direct Plan?As per SEBI’s latest guidelines to calculate risk grades, investment in the Axis Overnight Fund - Direct Plan comes under Low risk category.
- What is the category of Axis Overnight Fund - Direct Plan?Axis Overnight Fund - Direct Plan belongs to the Debt : Overnight category of funds.
- How Long should I Invest in Axis Overnight Fund - Direct Plan?The suggested investment horizon of investing into Axis Overnight Fund - Direct Plan is <1 month. The suggested investment horizon is the minimum time required for holding investments in the fund to reduce its downside risk and ensure that the returns become more predictable.
- Who manages the Axis Overnight Fund - Direct Plan?The Axis Overnight Fund - Direct Plan is managed by Aditya Pagaria (Since Mar 07, 2019) and Sachin Jain (Since Nov 09, 2021).
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