ITI Overnight Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?
- September 16, 2026
- Posted by: Chaitanya Auti
- Category: Mutual Funds
ITI Overnight Fund Direct Growth Plan is at a NAV of ₹1,393.588 as of 15 September 2026, with scheme AUM of ₹14 Cr. Its 1-year, 3-year and 5-year returns are 5%, 5.83% and 5.51%, and the fund sits in the Low Risk category. Our view is that it suits conservative investors who want overnight exposure with very limited portfolio complexity, but the return profile is still modest and should be read as stability-first rather than growth-first.
The fund’s portfolio is almost entirely parked in cash-equivalent instruments, so it is designed for capital preservation and liquidity rather than equity-style upside. That makes the recent return pattern and the long-term track record more relevant for comparing consistency than for chasing outperformance.
Quick facts
| Particular | Details |
|---|---|
| NAV | ₹1,393.588 as of 15 Sep 2026 |
| AUM | ₹14 Cr |
| Expense Ratio | 0.08% |
| Launch Date | 24 Oct 2019 |
| Min SIP | ₹500 |
| Risk Category | Low Risk |
| Benchmark | Nifty 50 |
| Fund Category | Liquid |
| Exit Load | No exit load |
| Fund Managers | Laukik Bagwe |
The fund is managed by Laukik Bagwe.
Source data date: as of 15 Sep 2026
Performance
| Period | Fund return | Benchmark return |
|---|---|---|
| 1M | 0.37% | -4.81% |
| 3M | 1.18% | -3.63% |
| 1Y | 5% | -8.27% |
| 3Y | 5.83% | 5.59% |
| 5Y | 5.51% | 5.58% |
The short-term pattern is steady rather than dramatic. Over the latest month and quarter, the fund held small positive returns while the benchmark was negative, which tells us the strategy behaved defensively in a weak benchmark environment.
That same defensive profile is visible in the 1-year number, where the fund stayed positive while the benchmark was deeply negative. The gap is wide enough to show that the fund did not mirror the benchmark’s stress, although the fund itself still delivered only moderate gains.
Looking at the 3-year and 5-year periods, the picture becomes more balanced. The fund is slightly ahead on 3 years and slightly behind on 5 years versus the benchmark, so the longer-run result is broadly in line rather than clearly superior. For investors, that suggests the fund’s main value is consistency and liquidity management, not a lasting return advantage over its benchmark.
The multi-year movement also looks smooth, with gradual improvement rather than sharp swings. That supports the Low Risk label and fits an overnight fund structure where stability matters more than return acceleration.
Source data date: as of 15 Sep 2026
Should you BUY or HOLD ITI 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 ITI Overnight? Thinking of investing now?
Peer comparison
| Fund | 1Y return | 3Y return | 5Y return |
|---|---|---|---|
| ITI Overnight Fund Direct Growth Plan | 5% | 5.83% | 5.51% |
| 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 a 1-year view, the fund trails the stronger peer figures in this group, with most peers posting a slightly higher return. That tells us the recent run has been acceptable but not especially strong relative to the available comparisons.
Over 3 years and 5 years, the fund is close to the pack but still edges below several peers that have available longer-period figures. The gap is not extreme, yet the peer set does show a modest advantage for some alternatives on longer holding periods.
The short-term and long-term stories are therefore similar: the fund behaves steadily, but the available peer numbers indicate that steadiness has not translated into a clear return edge. For investors, the comparison is less about chasing the highest figure and more about deciding whether overnight-style stability is the main priority.
Source data date: as of 15 Sep 2026
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Portfolio: where your money goes
| Holding | Sector | Weight |
|---|---|---|
| TREPS 01-Sep-2026 | Cash & Cash Equivalents and Net Assets | 96.58% |
| Net Receivables / (Payables) | Cash & Cash Equivalents and Net Assets | 3.42% |
The largest holding, TREPS 01-Sep-2026, accounts for 96.58% of the portfolio, so it is likely to have the dominant influence on day-to-day portfolio behaviour. The second line is far smaller at 3.42%, which means the weight drops sharply after the main position.
Because there are only two disclosed holdings, the portfolio is highly concentrated in cash-equivalent exposure rather than spread across many securities. That concentration is consistent with the overnight category and may help explain the fund’s low-volatility profile.
Since the disclosed holdings account for 100% of the portfolio, there is no visible long tail in this snapshot. For investors, that means the fund’s outcome is tied mainly to a very small number of cash and receivable items rather than to a broad mix of market exposures.
Source data date: as of 15 Sep 2026
Who should invest
This fund fits investors with a conservative risk tolerance who want very low day-to-day volatility and a short parking horizon. The Low Risk label, the cash-equivalent portfolio and the smooth multi-period pattern all point in the same direction.
The trade-off is clear: the fund has stayed positive across the periods shown, but the return profile remains modest and does not try to compete with higher-risk categories. It can work for capital preservation needs, temporary liquidity management or very short holding periods where stability matters more than upside.
For investors who can accept only limited return potential in exchange for a steadier path, the fund is a reasonable fit. Those looking for faster growth or a strong benchmark-beating pattern may find the return profile too restrained.
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 ITI Overnight Fund Direct Growth Plan?
The current NAV is ₹1,393.588 as of 15 September 2026.
What are the fund’s 1-year, 3-year and 5-year returns?
The fund’s 1-year, 3-year and 5-year returns are 5%, 5.83% and 5.51%.
How does the fund compare with the benchmark?
It has stayed positive across the periods shown, while the benchmark was negative in 1M, 3M and 1Y and only slightly ahead on 5Y. On 3Y, the fund is just ahead of the benchmark.
How does it compare with peer funds on available return data?
Several peers show slightly higher 1-year and longer-period returns, although the differences are not large. The fund looks steady, but the peer set includes a few funds with a modest edge on the return figures shown.
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 Laukik Bagwe. The exit load is nil, so no exit load is charged if units are sold anytime.
Bottom line
ITI Overnight Fund Direct Growth Plan has delivered a steady, low-volatility return path, with recent numbers remaining positive even when the benchmark was weak. Over longer periods, the fund is broadly close to the benchmark rather than clearly ahead, and the peer comparison shows a similar story: stable, but not the strongest return profile in the group. Its portfolio is almost fully concentrated in cash-equivalent exposure, which suits investors who value liquidity and predictability more than upside.
Published on 16 September 2026 at 1:59 PM IST
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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.