Canara Rob Overnight Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?
- September 18, 2026
- Posted by: Chaitanya Auti
- Category: Mutual Funds
Canara Rob Overnight Fund Direct Growth Plan is an overnight fund with a NAV of ₹1423.4012 as of 17 Sep 2026 and a scheme AUM of ₹736 Cr. Its 1-year, 3-year and 5-year returns are 5.22%, 5.99% and 5.65%, and its risk category is Low Risk.
Our view is that this is a conservative liquidity-oriented option rather than a return-seeking fund. The portfolio is dominated by TREPS, with small allocations to net receivables and treasury bills, so the fund’s behaviour should stay close to cash-like overnight deployment rather than equity-style volatility.
Quick facts
| Particular | Details |
|---|---|
| NAV | ₹1,423.4012 as of 17 Sep 2026 |
| AUM | ₹736 Cr |
| Expense Ratio | 0.07% |
| Launch Date | 24 Jul 2019 |
| Risk Category | Low Risk |
| Benchmark | Nifty 50 |
| Fund Category | Liquid |
| Exit Load | No exit load |
| Fund Managers | Suman Prasad, Avnish Jain |
The fund is managed by Suman Prasad and Avnish Jain.
Source data date: as of 17 Sep 2026
Performance
| Period | Fund return | Benchmark return |
|---|---|---|
| 1M | 0.39% | -3.66% |
| 3M | 1.27% | -3.71% |
| 1Y | 5.22% | -7.13% |
| 3Y | 5.99% | 5.82% |
| 5Y | 5.65% | 5.72% |
The recent picture is steadier than the benchmark. Over 1M and 3M, the fund remained positive while the benchmark was negative, which points to a much calmer short-term path. That is consistent with an overnight mandate, where capital preservation and daily liquidity matter more than chasing visible swings in performance.
On a 1-year view, the fund’s 5.22% return is far better than the benchmark’s -7.13%, which also shows that the fund has not been dragged into broader market volatility. The gap narrows over longer periods. At 3Y, the fund is slightly ahead of the benchmark, while at 5Y it trails by a small margin. That mix suggests the fund has been broadly steady, but its longer-run edge is modest rather than pronounced.
The time pattern is also important. The fund’s path looks smooth with only small changes in direction, while the benchmark’s trajectory has been much more uneven. For an overnight fund, that is a useful signal: the main role here is not outperformance in every window, but consistency. Our view is that the returns line up with a low-drama cash-management profile.
Source data date: as of 17 Sep 2026
Should you BUY or HOLD Canara Rob 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 Canara Rob Overnight? Thinking of investing now?
Peer comparison
| Fund | 1Y return | 3Y return | 5Y return |
|---|---|---|---|
| Canara Rob Overnight Fund Direct Growth Plan | 5.22% | 5.99% | 5.65% |
| Bank of India Overnight Fund Direct Growth Plan | 5.51% | 6.21% | 5.83% |
| 360 ONE Overnight Fund Direct Growth Plan | 5.31% | Data not available | Data not available |
| Baroda BNP Paribas Overnight Fund Direct Growth Plan | 5.29% | 6.08% | 5.72% |
| Nippon India Overnight Fund Direct Growth Plan | 5.29% | 6.09% | 5.73% |
| JioBlackRock Overnight Fund Direct Growth Plan | 5.28% | Data not available | Data not available |
This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639.
Against peers with available 1Y data, the fund’s 5.22% return is a touch below the stronger recent results in this group, where the better one-year readings are 5.51% and 5.31%. The difference is not large, but it does show that the fund has not been the fastest mover in the shorter window.
The longer-term picture is more mixed. Its 3Y return of 5.99% is behind the higher available 3Y readings of 6.21%, 6.09% and 6.08%, while its 5Y return of 5.65% is also slightly below the available peer figures around 5.72% to 5.83%. That suggests the fund has been competitive, but not the strongest on trailing compounding where data is available.
The short-term and longer-term peer comparison point in the same direction: the fund is reasonably steady, but a little lighter on returns than some peers with available histories. For an overnight fund, that may still be acceptable if the investor values predictability and cash-like behaviour over trying to squeeze out the last basis point.
Source data date: as of 17 Sep 2026
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Portfolio: where your money goes
| Holding | Sector | Weight |
|---|---|---|
| TREPS | Cash & Cash Equivalents and Net Assets | 95.58% |
| Net Receivables / (Payables) | Cash & Cash Equivalents and Net Assets | 1.71% |
| 182 DTB (10-Sep-2026) | Treasury Bills | 1.36% |
| 182 DTB (18-Sep-2026) | Treasury Bills | 0.68% |
| 91 DTB (17-Sep-2026) | Treasury Bills | 0.68% |
The largest holding, TREPS, carries a weight of 95.58%, so the fund is overwhelmingly anchored in overnight cash-style deployment. That level of dominance means the largest position is likely to have the greatest influence on the fund’s day-to-day behaviour, while the smaller positions mainly add marginal diversification and operational flexibility.
The weight drops sharply after the first holding. The next disclosed position is only 1.71%, and the treasury-bill lines are all below 1.5%. With only five disclosed holdings in total, the fund looks tightly concentrated rather than spread across a long tail of positions.
The top disclosed holdings account for 100% of the portfolio, which tells us there is no hidden tail in the visible holding set. For investors, that usually supports the idea of a straightforward overnight structure: the portfolio is simple, highly liquid and unlikely to carry meaningful stock-style concentration risk.
Source data date: as of 17 Sep 2026
Who should invest
This fund suits investors with a very low risk tolerance who want short holding periods and high liquidity. The Low Risk tag, the smooth recent return pattern and the cash-heavy portfolio all point to a defensive parking place rather than a growth engine.
It is most appropriate when the goal is to keep money accessible while avoiding the volatility seen in the benchmark. The trade-off is that the return profile stays modest: the fund has held up well versus the benchmark in recent windows, but its longer-term returns remain close to overnight-fund territory rather than meaningfully above it.
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 17 Sep 2026
Frequently asked questions
What is the current NAV of Canara Rob Overnight Fund Direct Growth Plan?
The current NAV is ₹1423.4012 as of 17 Sep 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 5.22%, 5.99% and 5.65%.
How has the fund performed versus the benchmark?
It has stayed ahead of the benchmark in the 1M, 3M and 1Y windows, while the 3Y and 5Y comparisons are close.
How does it compare with peer funds?
Its trailing returns are competitive, but some peers have slightly stronger 1Y, 3Y and 5Y readings where data is available.
Is there a minimum SIP amount?
A minimum SIP amount is not stated here, so we are not treating one as available.
Who manages the fund and what is the exit load?
The fund is managed by Suman Prasad and Avnish Jain. There is no exit load.
Bottom line
Canara Rob Overnight Fund Direct Growth Plan has delivered a steadier short-term path than the benchmark, and its 3Y and 5Y numbers remain close to the broader overnight-fund range seen among peers. The recent return pattern is calmer than the benchmark, while the longer-term profile stays modest rather than aggressive.
The portfolio is the clearest signal: TREPS dominates, and the disclosed holding set is compact and highly liquid. That makes the fund suitable for conservative investors who want a simple overnight allocation and can accept that the return trade-off is limited upside in exchange for low volatility and easy liquidity.
Published on 18 September 2026 at 4:25 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.