Publish Date:
Navi Mutual Fund introduces – Navi Overnight Fund
It is open-ended debt scheme investing in securities with overnight securities. A relatively low interest rate risk and relatively low credit risk.
Accordingly, the investment objective is to generate returns by investing in debt and money market instruments with overnight securities having maturity of 1 day. However, there can be no assurance or guarantee that the investment objective of the Scheme will be achieved. The Scheme does not assure or guarantee any returns.
Under normal circumstances, Navi Overnight Fund will hold an allocation of 0% to 100% of its assets in Debt and Money Market instruments with overnight maturity.
As per the Scheme Information Document, Navi Overnight Fund aims to generate reasonable returns commensurate with the low risk of the portfolio. This scheme is positioned to meet the needs of those investors who want to deploy their funds for a short period of time with the least amount of risk. The returns would match the levels of risk taken in the portfolio. The primary investment objective of the scheme is to generate regular returns in line with the overnight rates. In line with this objective the scheme would be investing in debt and money market instruments with overnight maturity.
Navi Overnight Fund’s performance will be benchmarked against CRISIL Liquid Overnight Index
The scheme will be managed by Ms Surbhi Sharma
The NFO opens for subscription on July 11, 2023 and closes on July 14, 2023. The schemes will reopen for continuous sale and repurchase within 5 business days from the date of allotment.
The fund's face value is Rs 10/- per unit. The minimum subscription amount is Rs 10/- and in multiples of Re. 1/- thereof.
The scheme offers Regular Plan and Direct Plan each plan offers Growth and Income Distribution cum capital withdrawal option (IDCW) option.