Axis Overnight Fund

Debt

India Debt Liquid Market

Liquid

Others

Aggressive growth Investor Profile

Investor Profile

1–3 yearsInvestment Horizon

HNI, UHNI, Retail Investor, Mass AffluentTarget Segments

SEBI registered equity mutual fund suitable for all investor categoriesRegulatory Fit

Axis Overnight Fund Growth invests in short-term debt, offering safety and easy access to your money.

What This Strategy Does

Axis Overnight Fund Regular Growth is an overnight fund which captures India's ₹10 trillion money market opportunity through cash and cash equivalent investments, deploying capital across government and corporate debt to achieve benchmark-aligned compounding.

CW Expert Research Notes

Overnight Liquidity Anchor

With a 100% allocation to cash and cash equivalents, the fund offers a liquid, low-risk overnight investment option, outperforming its benchmark in 2 out of 12 years.

Sovereign-Focused Construction

The fund's portfolio is concentrated in government securities (3.47%) and cash equivalents (96.52%), reflecting a conservative, sovereign-centric investment process.

Defensive Portfolio Role

Exhibiting low volatility (0.461) and negative Sharpe ratio (-4.134), the fund could serve as a defensive, capital preservation allocation within a broader portfolio.

Performance and Risk Analysis

Historical returns, volatility patterns, and how this fund has performed relative to its benchmark.

Fund Performance

-0.0% AnnuallyAlpha

+94.1% vs +10.7% benchmarkSince Inception

+6.1% vs +6.3% benchmark3Y Annualized

+5.7% vs +6.5% benchmark5Y Annualized

Axis Overnight Fund

Benchmark Index

Benchmark Performance Comparison

Axis Overnight Fund

FD Returns

Risk Profile

Standard Deviation0.1%

Sharpe Ratio-7.28

Beta0.79

Upside Capture100%

Detailed Risks

Market Risk

Potential economic slowdown could reduce overnight borrowing demand, impacting yields.

Liquidity Risk

Overnight fund may face liquidity stress during market dislocations.

Concentration Risk

Concentrated in overnight lending, vulnerable to regulatory changes impacting collateral.

Specific Strategy Risk

Counterparty risks if borrowers face solvency issues or credit downgrades.

Strategy Details

A closer look at the investment thesis, portfolio construction, and current holdings.

Core Investment Theme

Provides liquidity and capital preservation for short-term cash holdings. This fund invests in overnight money market instruments, offering a low-risk parking spot for idle cash with returns slightly higher than a savings account.

Broader Market View

Market Outlook

Equity markets appear to be entering a recovery phase following the recent valuation correction. Consumption and earnings normalization, coupled with a revival in capital expenditure and credit growth, are aligning favorably with the strategy's tilt towards consumer, financial services, and technology sectors. While competitive pressures and margin cyclicality pose risks, the present environment offers an attractive entry point.

Why This Strategy is Attractive Now

The strategy seems well-positioned to capitalize on the current environment through its balanced exposure across consumer cyclicals, defensives, financials, and technology. The portfolio's diversification across approximately 70 holdings, including market leaders, offers a blend of growth and stability. With a moderate beta and risk-adjusted positioning, the strategy appears differentiated from index-like approaches, poised to benefit from the unfolding recovery.

Investment Style & Process

Investment Style

The portfolio exhibits characteristics of a Quality Growth strategy, emphasizing companies with durable competitive advantages, consistent earnings growth, and reasonable valuations.

Why it Makes Sense

In the current environment of moderating economic growth and elevated uncertainty, a Quality Growth approach focused on resilient business models and prudent valuations appears well-positioned.

High-Level Investment Process

Sourcing: The strategy appears to source investment candidates from across the market capitalization spectrum, with a tilt towards large and mid-cap companies exhibiting sustainable competitive advantages and attractive growth prospects. Selection: The selection process suggests an emphasis on companies with strong fundamentals, including consistent profitability, healthy balance sheets, and capable management teams, balanced against reasonable valuations relative to growth potential. Construction: Portfolio construction is consistent with a diversified, conviction-weighted approach that seeks to maximize exposure to the strategy's highest-conviction ideas while managing overall risk.

Portfolio Holdings Overview

SectoralAllocation

Financial Services100%

Top Stock Holdings

CompanySectorAllocation

Clearing Corporation Of India LtdUtilities94.55%

14/05/2026 Maturing 364 DTBUtilities1.71%

TbillUtilities1.31%

TbillUtilities0.92%

TbillUtilities0.66%

21/05/2026 Maturing 364 DTBUtilities0.44%

21/05/2026 Maturing 182 DTBUtilities0.22%

Net Receivables / (Payables)Utilities0.14%

Day TbillUtilities0.04%

TbillUtilities0.00%

Fund House Management

The asset management company’s track record, AUM scale, and fund manager credentials.

Fund Manager Track Record

Sachin Jain

Mr. Sachin Jain has experience of 17 years. Manages 134 funds at Axis Asset Management Company Limited with an AUM of approximately ₹15,551 Cr Holds a B.Tech degree.

22 years

Combined Team Experience

₹ 25,745 Cr

Assets Under Management

Hardik Satra

Co-Portfolio Manager

Hardik Satra has experience of 4 years. Manages 18 funds at Axis Asset Management Company Limited with an AUM of approximately ₹10,195 Cr

CW Expert Take

Axis operates with entrepreneurial agility despite institutional backing. Their investment philosophy emphasizes quality compounding in equities and prudent credit selection in debt. The fund house has built focused expertise rather than chasing asset gathering, resulting in concentrated portfolios with high-conviction ideas.

Firm Overview

Total AUM₹3,61,984.16 Cr

Investment Philosophy & Approach

Liquidity Focus

Axis AMC emphasizes liquidity preservation and capital protection.

Risk Management

Robust risk management framework with stringent credit evaluation.

Disciplined Approach

Disciplined investment process adhering to predefined risk parameters.

Operational & Regulatory Details

What it costs to invest, transaction mechanics, and regulatory disclosures you should know.

Costs and Fees

Total Expense Ratio (TER)0.14%

Regulatory & Tax Information

INF846K01O23

ISIN

DailyDealing Frequency

CRISIL Liquid Overnight TR INRBenchmark

Capital Gain Tax | Taxed as per Income Tax Slab

Tax Implications (India)