Shriram
Overnight Fund

(An open ended debt scheme investing in overnight securities)

Terms and conditions

What is
Shriram Overnight Fund ?

Shriram Overnight Fund is an open ended debt scheme investing in overnight securities. A relatively Low Interest Rate Risk and relatively Low Credit Risk.

Returns With Low Risk + Convenience Of Liquidity Over Short Term = Shriram Overnight Fund

This product is suitable for investors who are seeking:

-
Returns commensurate with low risk and convenience of liquidity over short term
-
Investment in debt and money market instruments with overnight maturity.
-
Low Risk

Note : Risk is represented as :

-
Low - Principal at low risk
-
Low to Moderate- Principal at low to moderate risk
-
Moderate - Principal at moderate risk
-
Moderately High - Principal at moderately high risk
-
High - Principal at high risk
-
Very High - Principal at very high risk

*Investors should consult their financial advisers if in doubt about whether the product is suitable for them.

Scheme Riskometer

Benchmark Riskometer

Why Overnight?

-
Ideal for parking funds for short term – Highly liquid
-
Credit risk, duration risk and interest rate risk – almost Nil
-
Open-ended fund – No entry or exit loads
-
Same Day Returns – Invest at previous day NAV and capture the return for the day of investment
-
Low probability of capital risk – Quality assets

Advantages of Overnight Fund

-
Low Duration - Fund that invests in instruments with residual maturity of 1 Day
-
Highly Liquid - Provides highest liquidity and highly recommended for short term investments
-
Low risk - Invests in high quality debt instruments with Minimal credit and interest rate risk
-
Low Volatility - Have negligible MTM impact making these investment returns less volatile

How does Shriram Overnight Fund construct its portfolio?

-
Tri Party Repos
-
Treasury Bills (T-Bills)
-
Certificate of Deposits
-
Floating Rate Debt Instruments
-
Bills of Exchange
-
Commercial Papers
-
Cash Management Bills
-
Repos

As per SEBI Circular dated, June, 07, 2021, the potential risk class matrix based on interest rate risk and credit risk, is as below:

Potential Risk Class
Credit Risk →	Relatively Low (Class A)	Moderate (Class B)	Relatively High (Class C)
Interest Rate Risk ↓	Relatively Low (Class A)	Moderate (Class B)	Relatively High (Class C)
Relatively Low (Class I)	A-I
Moderate (Class II)
Relatively High (Class III)

Returns of
Regular Plan

Returns of Regular Plan - Growth Option as on September 25, 2023
Date of inception: 26-August-2022
AUM Rs.(in crore) 15.95 NAV Rs. 10.6925

Date

Period

NAV (Rs.) Per Unit

Scheme Returns (%)

Scheme Benchmark Returns (%)

Additional Benchmark (CRISIL
1 Yr T-Bill Index) Returns (%)

Value of Investment of Rs.10000
Scheme	Scheme Benchmark	Additional Benchmark (CRISIL 1 Yr T-Bill Index)

September 18, 2023

Last 7 Days

10.6792

0.12

0.13

0.09

10,012

10,013

10,009

Last 15 Days

August 25, 2023

Last 1 Month

10.6333

0.56

0.57

0.52

10,056

10,057

10,052

Last 3 Months

Last 6 Months

Last 1 Year

Last 3 Year

Last 5 Year

Last 10 Year

August 26, 2022

Since Inception

10.0000

6.38

6.46

6.32

10,693

10,700

10,686

Returns of
Direct Plan

Returns of Direct Plan - Growth Option as on September 25, 2023
Date of inception: 26-August-2022
AUM Rs.(in crore) 48.45NAV Rs. 10.7039

Date

Period

NAV (Rs.) Per Unit

Scheme Returns (%)

Scheme Benchmark Returns (%)

Additional Benchmark (CRISIL
1 Yr T-Bill Index) Returns (%)

Value of Investment of Rs.10000
Scheme	Scheme Benchmark	Additional Benchmark (CRISIL 1 Yr T-Bill Index)

September 18, 2023

Last 7 Days

10.6904

0.13

0.09

10,013

10,009

Last 15 Days

August 25, 2023

Last 1 Month

10.6437

0.57

0.52

10,057

10,052

Last 3 Months

Last 6 Months

Last 1 Year

Last 3 Year

Last 5 Year

Last 10 Year

August 26, 2022

Since Inception

10.0000

6.49

6.46

6.32

10,704

10,700

10,686

CRISIL Liquid Overnight Index is the scheme benchmark.

The returns are simple annualized returns for less than 1 year. Different plans shall have a different expense structure. The performance details provided herein are of Regular Plan-Growth Option & Direct Plan-Growth Option.

Performance of Income Distribution cum Capital Withdrawal (IDCW) option would be Net of Dividend distribution tax, if any. For computation of return since inception (%) the allotment NAV has been taken as Rs. 10.00. Point-to-point returns on a standard investment of Rs. 10,000/- are in addition to CAGR for the Scheme.

Past performance may or may not be sustained in future. Load is not considered for computation of returns. In case, the start/end date of the concerned period is a non business date (NBD), the NAV of the previous date is considered for computation of returns. The NAV per unit shown in the table is as on the start date of the said period.

The scheme is being currently managed by Mr. Deepak Ramaraju along with Ms. Gargi Bhattacharyya Banerjee with effect from August 20, 2022

Why should you choose
Shriram Overnight Fund?

Shriram overnight fund is designed to generate reasonable risk adjusted return in the short term. The fund selectively invests only in low risk, quality assets which have almost zero risk from interest rate movements and credit defaults. The residual maturity of the investment instruments of this fund is just one day and the Investors can plan their investments seamlessly without any entry or exit loads. It is a relatively safer way of investing funds without undue risk of interest rate and credit risk.The fund generates a relatively stable returns to ensure there is minimal MTM risk or almost nil repricing risk

Frequently Asked Questions

What is Shriram Overnight Fund?

An open ended debt scheme investing in overnight securities. A Relatively Low Interest Rate Risk and Relatively Low Credit Risk.

What is the Investment Objective?

The primary objective of the scheme is to generate returns commensurate with low risk and providing high level of liquidity, through investments made in debt and money market instruments with overnight maturity. However, there is no assurance or guarantee that the investment objective of the Scheme will be achieved. The Scheme does not assure or guarantee any returns.

What is the suitability of this scheme?

The scheme is suitable for investors who have the objective of getting returns commensurate with low risk and convenience of liquidity over short term.

What is the asset allocation?

The scheme shall invest 0 to 100% in Debt & Money Market Instruments with residual maturity not greater than 1 business day.

What is the Fund management process & investment style?

The funds will be invested in Debt & Money Market Instruments (with residual maturity not greater than 1 business day,) offering reasonable liquidity and returns, with risk perceived by the Investment Manager. Investments under the Scheme would be made predominantly in TREPS (Tri party Repo Dealing and Settlement), overnight reverse repos and fixed income securities/instruments with overnight maturity. The portfolio will be constructed and managed to generate returns to match the investment objective and to maintain adequate liquidity to accommodate funds movement.

Who is the Fund Manager of the scheme?

The scheme is being currently managed by Mr. Deepak Ramaraju along with Ms. Gargi Bhattacharyya Banerjee

How has the fund performed?

Shriram Overnight Fund is a new scheme and does not have any performance track record.

What is the minimum investment amount?

Minimum investment amount is Rs. 5,000/- and in multiples of Re. 1/- thereafter. Under Systematic Investment Plan, the minimum amount is Rs. 1,000/- monthly and Rs. 3,000/- quarterly.

Is there any entry – exit load?

There is no entry load or exit load.

What is the tax treatment of investment of Shriram Overnight Fund?

Long-term capital gains exceeding Rs. 1 lakh shall be taxed at the rate of 10% without allowing the benefit of any indexation.

Disclaimer: MUTUAL FUND INVESTMENTS ARE SUBJECT TO MARKET RISKS, READ ALL SCHEME RELATED DOCUMENTS CAREFULLY. With regard to taxation, investors are advised to consult their tax consultants to know the consequences of tax, if any. Income Tax benefits to the mutual fund & to the unit-holder are in accordance with prevailing tax law. The investor shall be solely responsible for any action taken based on this document. Shriram Mutual Fund, Shriram Asset Management Company Limited, Board of Trustees-Shriram Mutual Fund and their associates shall not be liable in any manner for the consequences of such action taken by the investor.
Risk Factors: All investments in mutual funds and securities are subject to market risks and the NAV of the Scheme may go up or down depending upon the factors and forces affecting the securities market. There can be no assurance that the Scheme's investment objective will be achieved. The past performance of the Mutual Fund is not indicative of the future performance of the Scheme. The scheme inception date was August 26, 2022. The Sponsor is not responsible or liable for any loss resulting out of the operation of the Scheme beyond the initial contribution of Rs.1 Lakh made towards setting up the Mutual Fund. Shriram Overnight Fund is only the name of the Scheme and does not in any manner indicate the quality of the Scheme or its future prospects or returns. There is no guarantee or assurance as to any return on investment of the unit holders. The investments made by the Scheme are subject to external risks on transfer, pricing, trading volumes, settlement risks, etc. of securities. Please refer to the Offer Document/Statement of Additional Information/Key Information Memorandum of the scheme before investing.

Our
Fund Managers

Mr. Deepak Ramaraju
Senior Fund Manager

Mr. Deepak Ramaraju serves as the Senior Fund Manager of Shriram Asset Management Company Ltd. Mr. Deepak comes with a diverse experience of over 20 years. He is a chemical engineer by academic background. Prior to joining Shriram Asset Management Company, Mr. Deepak was advising Sanlam Group of South Africa on their India focused fund and was part of their global equity research team. He has been associated with equity markets for the past 16 years and prior to that Mr. Deepak was a researcher and co inventor at GE India Technology Center, Bangalore with 10 patents as co-inventor to his credit.

Ms. Gargi Bhattacharyya Banerjee
Fund Manager

Ms. Gargi Bhattacharyya Banerjee serves as the Fund Manager of Shriram Mutual Fund having an experience of more than 19 years in her professional career. Ms. Gargi Bhattacharyya Banerjee received her Bachelor of Science with Economics (H) and Master of Business Management with specialization in Finance from the University of Calcutta. She joined as Research Manager in Shriram Asset Management Company Limited in November 2012 and before that, she has held a key position in the Research team with Zacks Research Private Limited and Shriram Insight Share Brokers Limited.