Investment Objective and Approach

The investment objective of the scheme is to generate income commensurate with low risk and high liquidity by investing in overnight securities having residual maturity of 1 business day. An open ended debt scheme investing in overnight securities. Ideal investment option for the Investors seeking high liquidity and low volatility.

The fund follows a conservative investment approach by investing exclusively in overnight securities that mature within one business day. This strategy provides investors with:

- High Liquidity: Fund stands to provides highest liquidity within the Fixed Income mutual Fund Product segment with redemption on T+1 basis.

- Low Risk: This Fund category has lowest mark to market risk and lowest credit default risk.

- Stable Returns: Fund is positioned to deliver consistent returns compared to other Fixed Income instrument

- No Lock-in Period: It offers overnight liquidity without any exit load.

The fund is particularly suitable for investors looking for short-term parking of surplus funds, emergency fund allocation, or as an alternative to bank savings accounts with potentially higher returns.

Fund Managers

Amit Modani is the Current Fund Manager of Bank of India Overnight Fund Direct Growth fund. Prior to his current role, he has worked with YES Asset Management (India) Limited and BNP Paribas Asset Management India Pvt. Ltd.

The fund management team brings extensive experience in fixed income markets, with over 13 years of experience in Fixed Income market domain, Investment strategy development, Trade idea generation, Trade execution, Cash Management, Fixed Income portfolio monitoring, Cash flow verification.

About the Fund House (AMC)

Bank of India Investment Managers (formerly BOI AXA Investment Managers) is a wholly owned subsidiary of Bank of India, which was founded in 1906 as a banking services company and later nationalised in 1969. The AMC BOI brings 14 years of rich experience in fund management catering to the needs of investors across various investment objectives. The fund house currently manages 17 varied mutual fund schemes across 2 lakh+ investors and 2700+ Cr. in AUM.

Key Highlights of the AMC:

- Experience: With an experience of around 15 years in fund management, Bank of India Investment Managers Private Limited has consistently prioritised meeting the investment objectives of its investors.

- Product Range: Through Bank of India Mutual Fund (BOIMF), the company provides approximately 17 diverse Mutual Fund Schemes that span various sectors.

- Total AUM: As of the most recent financial data available, BOIMF boasts Assets Under Management (AUM) exceeding Rs. 5788 crores, as of December 2023.

- Leadership: The leading squad of the Bank of India Mutual Fund includes Mr Mohit Bhatia as CEO/MD, Mr Alok Singh as CIO, and Ms Roshni Pawar as Investor Service Officer.

Should I Invest in Bank of India Overnight Fund?

The Bank of India Overnight Fund can be suitable for specific investor profiles and financial objectives:

Ideal For:

- Investors seeking ultra-short-term investment options (few days to few weeks)

- Emergency fund parking with better returns than savings accounts

- Corporate treasury management for surplus cash

- Conservative investors prioritizing capital preservation over high returns

- Those requiring immediate liquidity access without exit loads

Key Considerations:

- The Bank of India Overnight Fund Direct Growth is rated Low risk.

- Over the past five years, Bank of India Overnight Fund - Direct Plan has delivered an annualised return of 5.23% as of 07-Jun-2025.

- The fund has delivered a CAGR of 5.16 since inception.

- Very low volatility with standard deviation for the Bank of India Overnight Fund is 0.01

Investment Minimums:

- Minimum Lumpsum Investment is ₹5,000.

- The minimum SIP for Bank of India Overnight Fund is ₹0.

The fund is not suitable for investors seeking high returns or long-term wealth creation, as it focuses on capital preservation and liquidity rather than aggressive growth.

FAQs

What is today's NAV of Bank of India Overnight Fund?

The NAV of Bank of India Overnight Fund changes daily. You can check the current NAV on the Allvest platform or the fund house's official website for real-time updates.

What is the AUM of Bank of India Overnight Fund?

The AUM (i.e. assets under management) of Bank of India Overnight Fund is ₹64.83 Cr as of 21st March 2025. Please check Allvest for the most current AUM figures.

What is the expense ratio of Bank of India Overnight Fund?

The expense ratio of Bank of India Overnight Fund Plan is 0.08 as of 21st March 2025. This is among the lowest expense ratios in the overnight fund category.

What are the returns of Bank of India Overnight Fund since inception?

The fund has delivered a CAGR of 5.16 since inception. The fund was launched on Jan 27 2020.

What is the minimum SIP amount to invest in Bank of India Overnight Fund?

The minimum SIP for Bank of India Overnight Fund is ₹0. However, practical minimum amounts may apply based on the investment platform.

How do I invest in Bank of India Overnight Fund?

You can invest in Bank of India Overnight Fund through the Allvest platform by selecting the fund, choosing between SIP or lump sum investment, and completing the KYC process online.

How to start a SIP in Bank of India Overnight Fund?

Log in to your Allvest account, search for Bank of India Overnight Fund, select SIP option, choose your investment amount and frequency, set up auto-debit, and confirm your investment.

How do I automate an SIP in Bank of India Overnight Fund?

After creating your SIP through Allvest, set up an auto-debit mandate through your bank account or UPI to ensure automatic monthly deductions for your SIP investments.

How can I withdraw/redeem my investment in Bank of India Overnight Fund?

You can redeem your investment through the Allvest platform by selecting the fund, choosing partial or full redemption, and the amount will be credited to your registered bank account within T+1 working days.