Tata Overnight Fund Direct - Growth
(Scheme Rating)
NAV as of Aug 30, 2024
1,297.810.02%
(Earn upto 0.12% Extra Returns with Direct Plan)
Fund Category:
Debt: Overnight
Expense Ratio:
0.06%(0.08% Category
average)Fund Size:
Rs. 3,557.60 Cr(4.03% of Investment in Category)
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Tata Overnight Fund Direct - Growth
(Scheme Rating)
NAV as of Aug 30, 2024
1,297.810.02%
Expense Ratio:
0.06%
Fund Size:
Rs. 3,557.60 Cr
Fund Category:
Debt: Overnight
1. Current NAV: The Current Net Asset Value of the Tata Overnight Fund - Direct Plan as of Aug 30, 2024 is Rs 1,297.81 for Growth option of its Direct plan.
2. Returns: Its trailing returns over different time periods are: 6.84% (1yr), 5.65% (3yr), 4.83% (5yr) and 4.91% (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 Tata Overnight Fund - Direct Plan currently holds Assets under Management worth of Rs 3557.6 crore as on Jul 31, 2024.
4. Expense ratio: The expense ratio of the fund is 0.06% for Direct plan as on Aug 19, 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 500.
Tata Overnight Fund Direct - Growth Returns
Trailing Returns
Rolling Returns
Discrete Period
SIP Returns
1M 3M 6M 1Y 3Y 5Y Annualized Returns 0.54 1.64 3.32 6.84 5.66 4.83 Category Avg 0.53 1.60 3.24 6.69 5.55 4.72 Rank within Category 7 4 6 4 11 11 No. of funds within Category 36 36 36 35 27 22 - Loading...
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Return Comparison
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Tata Overnight Fund Direct - Growth Fund Details
Investment Objective - The scheme seeks 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.
Fund House | Tata Mutual Fund |
Launch Date | Mar 27, 2019 |
Benchmark | CRISIL Liquid Overnight AI Index |
Return Since Launch | 4.92% |
Riskometer | Low |
Type | Open-ended |
Risk Grade | - |
Return Grade | Above Average |
Tata Overnight Fund Direct - Growth Investment Details
Minimum Investment (Rs.) | 5,000.00 |
Minimum Additional Investment (Rs.) | 1,000.00 |
Minimum SIP Investment (Rs.) | 500.00 |
Minimum Withdrawal (Rs.) | 1,000.00 |
Exit Load | 0% |
Portfolio Allocation
Portfolio Aggregates
Fund | 1Y High | 1Y Low | Category | |
---|---|---|---|---|
Modified Duration(Yrs) | - | 0.0184 | 0.0003 | 0.0032 |
Average Maturity(Yrs) | - | 0.0184 | 0.0002 | 0.0037 |
Yield to Maturity(%) | 6.46 | 7.28 | 6.14 | 6.4529 |
Avg Credit Rating | Low | - | - | - |
Style Box
Investment / Portfolio Grades
Security Type | Weight(%) | Category Avg(%) |
---|---|---|
Government Backed | 5.04 | 3.10 |
Low Risk | - | - |
Moderate Risk | - | - |
High Risk | - | - |
Very High Risk | - | - |
Others | 94.96 | 96.90 |
Type of Holdings
Security Type | Weight(%) | Category Avg(%) |
---|---|---|
GOI | - | - |
CD | - | 0.00 |
T-Bills | 5.04 | 3.10 |
CP | - | - |
NCD & Bonds | - | - |
PTC | - | - |
Cash & Others | 94.96 | 96.78 |
Debt Holding In Portfolio
Instrument | Type | Sector | Rating | Value(Mn) | Total Holding(%) | Quantity |
---|---|---|---|---|---|---|
Reserve Bank of India | Short-term Debt | Financial | SOV | 896.62 | 2.52 | - |
Reserve Bank of India | Short-term Debt | Financial | SOV | 649.20 | 1.82 | 65,00,000 |
Reserve Bank of India | Short-term Debt | Financial | SOV | 249.69 | 0.70 | - |
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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 Tata Overnight Fund Direct - Growth 1,297.58 3,557.60 0.54 6.84 5.66 4.83 Axis Overnight Fund Direct-Growth 1,301.00 8,181.13 0.54 6.83 5.68 4.84 Bank of India Overnight Fund Direct-Growth 1,247.22 188.84 0.55 6.88 5.75 - Quant Overnight Fund Direct - Growth 11.26 238.56 0.54 7.25 - - Mirae Asset Overnight Fund Direct - Growth 1,261.13 1,214.67 0.54 6.84 5.69 -
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
-0.26VS-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
-0.14VS-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
1.43VS1.39Fund Vs Category Avg
Mean Return
Mean Return
Average return generated by the fund during a specified period.
Better average monthly returns
5.43VS5.41Fund Vs Category Avg
Risk Ratio Chart
- Risk Ratio
- Category Average
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Fund Manager
- A.S.Amit SomaniSince Mar 20197 schemes
Mr.Somani is a B.Com, PGDBM and CFA. Prior to joining Tata Asset Management Ltd in 2010 he has worked with Fidelity Investments Netscribes Pvt. ltd, SPA Capital and Khandwala Securities.
Scheme Name Category Nav(Rs./Unit) Scheme Rating Asset(Rs. Cr) 1Y Tata Money Market Fund Direct-Growth Money Market 4,505.31 26,884.76 7.85 Tata Liquid Fund Direct-Growth Liquid 3,924.78 22,261.95 7.43 Tata Nifty G-Sec Dec 2026 Index Fund Direct - Growth Target Maturity 11.26 Unrated 117.07 7.98 Tata Nifty G-Sec Dec 2029 Index Fund Direct - Growth Target Maturity 11.40 Unrated 175.66 8.72 Tata CRISIL-IBX Gilt Index - April 2026 Index Fund Direct - Growth Target Maturity 11.51 Unrated 1,107.82 7.74 Tata Nifty SDL Plus AAA PSU Bond Dec 2027 60:40 Index Fund Direct - Growth Target Maturity 11.64 Unrated 861.73 8.14 Tata Corporate Bond Fund Segregated Portfolio 1 Direct - Growth Corporate Bond 433.47 Unrated 12.13 -
More Tata Mutual Fund
Scheme Name | Rating | Asset Size(Cr) | 1M | 3M | 6M | 1Y | 3Y |
---|---|---|---|---|---|---|---|
Tata Liquid Fund Direct-Growth | 29,639.40 | 0.60 | 1.85 | 3.62 | 7.29 | 5.39 | |
Tata Money Market Fund Direct-Growth | 16,515.32 | 0.74 | 1.98 | 3.78 | 7.93 | 5.91 | |
Tata Arbitrage Fund Direct - Growth | 10,151.81 | 0.67 | 2.28 | 4.09 | 8.32 | 6.18 | |
Tata Digital India Fund Direct-Growth | 10,068.22 | -1.31 | 10.59 | 17.14 | 37.16 | 20.37 | |
Tata Balanced Advantage Fund Direct - Growth | 8,729.74 | 2.27 | 6.86 | 11.33 | 25.12 | 14.16 | |
Tata Equity PE Fund Direct-Growth | 7,255.96 | 1.41 | 9.94 | 21.11 | 48.31 | 22.92 | |
Tata Large & Mid Cap Fund Direct Plan-Growth | 6,619.55 | 1.35 | 7.10 | 10.66 | 33.68 | 18.40 | |
Tata Small Cap Fund Direct - Growth | 6,289.22 | -2.00 | 1.64 | 8.52 | 36.51 | 29.58 | |
Tata ELSS Tax Saver Fund Direct-Growth | 4,016.44 | 0.67 | 4.84 | 10.43 | 32.55 | 17.11 | |
Tata Hybrid Equity Fund Direct Plan-Growth | 3,693.58 | 1.86 | 6.74 | 10.33 | 24.74 | 14.69 |
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1. Tata Overnight Fund - Direct Plan is Open-ended Overnight Debt scheme which belongs to Tata Mutual Fund House.
2. The fund was launched on Mar 27, 2019.
Investment objective & Benchmark
1. The investment objective of the fund is that " The scheme seeks 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. "
2. It is benchmarked against CRISIL Liquid Overnight AI 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 Tata Overnight Fund - Direct Plan is 0.0 years and Duration is 0.00453606 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 Tata Overnight Fund Direct - Growth
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 Tata Overnight Fund Direct - Growth
- Is it safe to invest in Tata Overnight Fund - Direct Plan?As per SEBI’s latest guidelines to calculate risk grades, investment in the Tata Overnight Fund - Direct Plan comes under Low risk category.
- What is the category of Tata Overnight Fund - Direct Plan?Tata Overnight Fund - Direct Plan belongs to the Debt : Overnight category of funds.
- How Long should I Invest in Tata Overnight Fund - Direct Plan?The suggested investment horizon of investing into Tata 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 Tata Overnight Fund - Direct Plan?The Tata Overnight Fund - Direct Plan is managed by Amit Somani (Since Mar 25, 2019).
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