Sundaram Overnight Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?
- September 16, 2026
- Posted by: Chaitanya Auti
- Category: Mutual Funds
Sundaram Overnight Fund Direct Growth Plan currently has a NAV of ₹1464.102 as of 15 September 2026 and an AUM of ₹1,335 Cr. Its 1-year, 3-year and 5-year returns are 5.24%, 6.06% and 5.69%, respectively, and the scheme is tagged as Balanced Risk.
Our view is that this is a steady, liquidity-oriented allocation with returns that have stayed close to the benchmark over longer periods while holding up better than the benchmark in the recent periods shown. The portfolio is heavily parked in TREPS and short-dated debt instruments, so the fund may suit investors who want lower volatility and are comfortable with modest return potential rather than sharp market-linked upside.
Quick facts
| Particular | Details |
|---|---|
| NAV | ₹1,464.102 as of 15 Sep 2026 |
| AUM | ₹1,335 Cr |
| Expense Ratio | 0.06% |
| Launch Date | 20 Mar 2019 |
| Min SIP | ₹100 |
| Risk Category | Balanced Risk |
| Benchmark | Nifty 50 |
| Fund Category | Liquid |
| Exit Load | No exit load |
| Fund Managers | Sandeep Agarwal, Kumaresh Ramakrishnan |
The fund is managed by Sandeep Agarwal and Kumaresh Ramakrishnan.
Source data date: as of 15 Sep 2026
Performance
| Period | Fund return | Benchmark return |
|---|---|---|
| 1M | 0.4% | -4.81% |
| 3M | 1.26% | -3.63% |
| 1Y | 5.24% | -8.27% |
| 3Y | 6.06% | 5.59% |
| 5Y | 5.69% | 5.58% |
The recent pattern is firmer than the benchmark. Over 1 month and 3 months, the fund stayed positive while the benchmark was negative, which points to a comparatively stable near-term profile. That matters for an overnight-style fund because investors usually expect limited swings rather than dramatic jumps.
Over 1 year, the fund’s return remains positive at 5.24% while the benchmark is still negative at -8.27%, so the gap is large in favour of the scheme. Our view, however, is that the stronger near-term read should be balanced against the longer comparison, because the 3-year and 5-year numbers are much closer to the benchmark.
The 3-year return of 6.06% is only slightly above the benchmark’s 5.59%, and the 5-year return of 5.69% is also close to the benchmark’s 5.58%. That tells us the fund has generally tracked the benchmark’s overall compounding path, but with a smoother recent stretch. For a liquid-oriented fund, that sort of pattern is more relevant than chasing a short burst of performance.
When we look at the longer horizon, the fund does not appear to be taking large directional bets. The return path has been steady rather than explosive, which supports the idea that this is mainly an efficiency-and-stability proposition rather than a return-chasing one.
Source data date: as of 15 Sep 2026
Should you BUY or HOLD Sundaram Overnight?
A fund’s past returns alone don’t tell you whether you should buy it today or continue holding it.
The right decision depends on factors such as your current allocation, purchase price, risk profile, investment horizon and the role this fund plays in your overall portfolio.
Already holding Sundaram Overnight? Thinking of investing now?
Peer comparison
| Fund | 1Y return | 3Y return | 5Y return |
|---|---|---|---|
| Sundaram Overnight Fund Direct Growth Plan | 5.24% | 6.06% | 5.69% |
| Axis Liquid Fund Direct Growth Plan | 6.6% | 7.02% | 6.4% |
| Sundaram Liquid Fund Direct Growth Plan | 6.6% | 7.01% | 6.38% |
| Aditya Birla SL Liquid Fund Direct Growth Plan | 6.59% | 7.02% | 6.41% |
| JioBlackRock Liquid Fund Direct Growth Plan | 6.58% | Data not available | Data not available |
| Edelweiss Liquid Fund Direct Growth Plan | 6.57% | 7.02% | 6.39% |
This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639.
The current fund trails the peer group on 1-year return, with the available peer numbers clustered around 6.57% to 6.6% versus 5.24% here. Over 3 years and 5 years, the same pattern continues: the fund’s 6.06% and 5.69% are below the available peer figures, which mostly sit around 7% and about 6.4% on 5-year data.
That means the short-term and longer-term comparisons point in the same direction. The fund has been steadier than the benchmark in the recent periods shown, but on return magnitude it has generally lagged the peer set where comparable figures are available. For an investor, that trade-off may still be acceptable if the priority is smoother overnight-style parking rather than trying to match the most assertive liquid-fund outcomes.
Source data date: as of 15 Sep 2026
Want to know more? Log in to Univest for more mutual fund insights.
Portfolio: where your money goes
| Holding | Sector | Weight |
|---|---|---|
| TREPS | Cash & Cash Equivalents and Net Assets | 82.71% |
| Punjab National Bank – 01/09/2026 | Certificate of Deposit | 9.36% |
| 182 Days – T Bill – 10/09/2026 | Treasury Bills | 1.87% |
| 364 Days – T Bill – 03/09/2026 | Treasury Bills | 1.87% |
| 91 Days – T Bill – 24/09/2026 | Treasury Bills | 1.87% |
| Axis Bank Ltd – 01/09/2026 | Certificate of Deposit | 1.87% |
The largest holding, TREPS, is 82.71% of the portfolio, which is an exceptionally large weight and is likely to have the greatest influence on day-to-day stability. The next holding drops sharply to 9.36%, and the remaining positions are each below 2%, so the portfolio becomes much smaller very quickly after the first line item.
That steep fall from the largest position to the rest tells us the fund is highly concentrated in cash-equivalent exposure rather than spread across many active bets. With only six disclosed holdings, the tail is short and simple, and the overall structure may help explain why the fund has tracked as a low-volatility parking option.
The top disclosed holdings account for approximately 99.55% of the portfolio, so most of the portfolio is visible in a handful of instruments. That level of concentration may reduce complexity, but it also means changes in the short-term money-market and treasury mix could influence returns more than broad diversification would.
Source data date: as of 15 Sep 2026
Who should invest
This fund may suit investors who want a relatively conservative, short-horizon parking option and can accept modest return expectations in exchange for lower day-to-day movement. The Balanced Risk label, together with the portfolio’s heavy cash-equivalent and treasury exposure, suggests a profile that is more about capital stability than return acceleration.
It is most relevant for an investor whose holding period is short and whose main concern is keeping money accessible rather than seeking equity-like upside. The main trade-off is straightforward: the fund can be steadier than the benchmark in the recent periods shown, but its longer-term return profile is also close to benchmark-like money-market compounding rather than materially higher growth.
Tax and exit load
| Holding period | Tax rate | Description |
|---|---|---|
| Units held less than 1 year | 20% | Short-term capital gains tax |
| Units held more than 1 year | 12.5% | Long-term capital gains tax |
Exit load: No exit load.
Source data date: as of 15 Sep 2026
Frequently asked questions
What is the current NAV of Sundaram Overnight Fund Direct Growth Plan?
Its NAV is ₹1464.102 as of 15 September 2026.
What are the 1-year, 3-year and 5-year returns?
The fund’s returns are 5.24% over 1 year, 6.06% over 3 years and 5.69% over 5 years.
How does the fund compare with the benchmark?
It has beaten the benchmark in the recent periods shown, especially over 1 month, 3 months and 1 year. Over 3 years and 5 years, the gap is small.
How does it compare with peer funds on returns?
The fund trails the available peer return figures on 1-year, 3-year and 5-year numbers. The peer set shown has stronger return figures in each comparable period.
Is there a minimum SIP amount?
The scheme allows SIP investing, and the available facts do not specify a minimum SIP amount.
Who manages the fund and is there an exit load?
The fund is managed by Sandeep Agarwal and Kumaresh Ramakrishnan. There is no exit load.
Bottom line
This fund looks steadier in the recent periods than the benchmark, but its longer-term return pattern is much closer to broad liquid-fund compounding than to standout growth. Against the peer set shown, it sits behind the available return numbers, even though the portfolio structure is simple and heavily tilted to cash-equivalent exposure. That makes it a fit for investors who value stability, accessibility and a low-drama holding pattern more than return leadership.
Published on 16 September 2026 at 12:39 PM IST
Explore mutual funds with Univest
Review mutual fund data, compare performance and explore fund insights on Univest.
RIA disclosure
Mutual fund investments are subject to market risks. Read all scheme-related documents carefully before investing. This review is prepared by Uniapps Investment Adviser Pvt. Ltd. (earlier known as Uniapps Global Research Pvt. Ltd.) under SEBI Registered Investment Adviser registration INA000017639 for general informational purposes and is not personalized investment advice.