Groww Overnight Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?
- September 16, 2026
- Posted by: Chaitanya Auti
- Category: Mutual Funds
Groww Overnight Fund Direct Growth Plan has a NAV of ₹1,419.6986 as of 15 Sep 2026 and a scheme AUM of ₹11 Cr. Its 1-year, 3-year and 5-year returns are 5.17%, 6% and 5.57%, and the fund sits in the Low Risk category.
Our view is that this is a conservative cash-management style fund with return behaviour that has stayed close to steady accrual rather than aggressive upside. The portfolio is almost entirely parked in reverse repo, TREPS and net receivable/payable, so the return profile is shaped more by short-term money-market conditions than by market swings.
Quick facts
| Particular | Details |
|---|---|
| NAV | ₹1,419.6986 as of 15 Sep 2026 |
| AUM | ₹11 Cr |
| Expense Ratio | 0.14% |
| Launch Date | 08 Jul 2019 |
| Min SIP | ₹500 |
| Risk Category | Low Risk |
| Benchmark | Nifty 50 |
| Fund Category | Liquid |
| Exit Load | No exit load |
| Fund Managers | Kaustubh Sule, Ameya Sakpal |
The fund is managed by Kaustubh Sule and Ameya Sakpal.
Source data date: as of 15 Sep 2026
Performance
| Period | Fund return | Benchmark return |
|---|---|---|
| 1M | 0.38% | -4.81% |
| 3M | 1.23% | -3.63% |
| 1Y | 5.17% | -8.27% |
| 3Y | 6% | 5.59% |
| 5Y | 5.57% | 5.58% |
The recent numbers are modest in absolute terms, which is normal for a liquid-style fund, but they still show a cleaner pattern than the benchmark. Over the last month and three months, the fund has stayed positive while the benchmark has been negative, so the fund has offered better short-horizon stability.
The 1-year return also stands well above the benchmark’s negative 1-year result, which tells us the fund has been steadier through a difficult stretch for the index. That matters more here than a large absolute gain, because the role of this kind of fund is usually preservation of capital with limited day-to-day movement.
At the longer end, the picture becomes tighter. The 3-year return is only slightly above the benchmark, and the 5-year return is almost identical. Our view is that the fund has not tried to outpace the benchmark aggressively; instead, it has tracked a low-volatility path with small but persistent gains.
The time pattern also looks consistent with that role. The fund’s short-term series is calm, and the longer series shows gradual compounding rather than sharp jumps. That supports the idea that the fund may be useful for investors who care more about short-term parking and liquidity than about beating a growth benchmark over long periods.
Source data date: as of 15 Sep 2026
Should you BUY or HOLD Groww 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 Groww Overnight? Thinking of investing now?
Peer comparison
| Fund | 1Y return | 3Y return | 5Y return |
|---|---|---|---|
| Groww Overnight Fund Direct Growth Plan | 5.17% | 6% | 5.57% |
| Bank of India Overnight Fund Direct Growth Plan | 5.51% | 6.21% | 5.83% |
| 360 ONE Overnight Fund Direct Growth Plan | 5.32% | Data not available | Data not available |
| Baroda BNP Paribas Overnight Fund Direct Growth Plan | 5.3% | 6.08% | 5.72% |
| Nippon India Overnight Fund Direct Growth Plan | 5.29% | 6.09% | 5.73% |
| DSP Overnight Fund Direct Growth Plan | 5.28% | 6.08% | 5.72% |
This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639.
On the 1-year measure, this fund trails several peers that are marginally higher, with Bank of India Overnight Fund Direct Growth Plan at 5.51% and 360 ONE Overnight Fund Direct Growth Plan at 5.32%. The gap is not large, but it does show that the fund has been a touch softer than the strongest peer results in the near term.
The longer view is more balanced. Its 3-year return is close to the peer cluster and its 5-year return is also near the middle of the group, with a number of peers sitting in a narrow band around the same level. That suggests the fund has been competitive over time even if it has not led the pack on the latest 1-year number.
So the short-term and longer-term comparisons tell slightly different stories. The recent one-year result is somewhat lighter than the best peers, while the 3-year and 5-year figures point to a broadly comparable longer-run track record.
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 |
|---|---|---|
| Reverse Repo 01-Sep-26 | Cash & Cash Equivalents and Net Assets | 95.05% |
| TREPS 01-Sep-2026 | Cash & Cash Equivalents and Net Assets | 3.24% |
| Net Receivable/Payable | Cash & Cash Equivalents and Net Assets | 1.71% |
The largest holding, Reverse Repo 01-Sep-26, accounts for 95.05% of the portfolio, so it is likely to have the strongest influence on day-to-day performance. The next two positions are much smaller, and the gap from the first holding to the rest is very wide.
That steep drop from 95.05% to 3.24% and then to 1.71% shows a very concentrated cash-like structure. Because all three disclosed holdings fall under cash and cash equivalents or net assets, the portfolio looks designed for short-duration parking rather than broad diversification across securities.
Since the full disclosed holding list contains only three rows and they together add to 100%, there is no long tail here. Our view is that the fund’s behaviour will continue to be driven mainly by the top holding, with the smaller positions serving a supporting role in liquidity and settlement management.
Source data date: as of 15 Sep 2026
Who should invest
This fund suits investors who are comfortable with very low volatility and want short-term parking rather than equity-style growth. The Low Risk label and the almost entirely cash-equivalent portfolio fit a conservative profile.
The 1-year return has held up better than the benchmark, while the 3-year and 5-year numbers are broadly steady rather than exciting. That makes the fund more suitable for a short to medium holding horizon where capital stability matters more than return maximisation.
The main trade-off is clear: you give up the possibility of higher upside in exchange for a more predictable return path and liquid-style exposure. Investors who want smoother money-market behaviour and limited portfolio churn may find that trade-off acceptable.
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 Groww Overnight Fund Direct Growth Plan?
The current NAV is ₹1,419.6986 as of 15 Sep 2026.
What are the fund’s 1-year, 3-year and 5-year returns?
The 1-year, 3-year and 5-year returns are 5.17%, 6% and 5.57%.
How does the fund compare with the benchmark?
It has outpaced the benchmark over 1 year, while the 3-year and 5-year numbers are close to the benchmark’s figures.
How does it compare with peer liquid funds?
Its 1-year return is a little lower than some peers, but its 3-year and 5-year returns sit in a similar band to the peer group.
What is the minimum SIP amount?
The minimum SIP amount is ₹500.
Who manages the fund and what is the exit load?
The fund is managed by Kaustubh Sule and Ameya Sakpal. There is no exit load.
Bottom line
Groww Overnight Fund Direct Growth Plan has shown steadier recent performance than the benchmark, while its longer-term returns stay close to the benchmark and nearby peers. That pattern fits a low-risk, cash-management style fund rather than a return-chasing one. The portfolio is extremely concentrated in reverse repo and other cash-like positions, so the fund’s behaviour is likely to remain stable and short-duration in nature. It is best viewed as a conservative liquidity tool for investors who value predictability over upside.
Published on 16 September 2026 at 1:11 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.