UTI Overnight Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?
- September 11, 2026
- Posted by: Chaitanya Auti
- Category: Mutual Funds
UTI Overnight Fund Direct Growth Plan currently has a NAV of ₹3771.1868 as of 10 Sep 2026 and scheme AUM of ₹5,647 Cr. Its 1-year, 3-year and 5-year returns are 5.29%, 6.09% and 5.7% respectively, and the fund sits in the Balanced Risk category.
Our view is that this is a conservative liquid-style allocation for investors who want overnight-style stability with modest compounding rather than aggressive upside. The portfolio is dominated by cash and cash equivalents and short-dated money-market paper, so the return profile is closely tied to very short-duration credit and treasury instruments.
Quick facts
| Particular | Details |
|---|---|
| NAV | ₹3,771.1868 as of 10 Sep 2026 |
| AUM | ₹5,647 Cr |
| Expense Ratio | 0.06% |
| Launch Date | 01 Jan 2013 |
| Min SIP | ₹500 |
| Risk Category | Balanced Risk |
| Benchmark | Nifty 50 |
| Fund Category | Liquid |
| Exit Load | No exit load after holding period |
| Fund Managers | Jaydeep Bhowal |
The fund is managed by Jaydeep Bhowal.
Source data date: as of 10 Sep 2026
Performance
| Period | Fund return | Benchmark return |
|---|---|---|
| 1M | 0.4% | -4.06% |
| 3M | 1.27% | 1.37% |
| 1Y | 5.29% | -7.31% |
| 3Y | 6.09% | 6.07% |
| 5Y | 5.7% | 5.91% |
The recent pattern is steady rather than dramatic. Over 1 month and 3 months, the fund has moved in a narrow band, which is what we would expect from an overnight-oriented portfolio with very short maturity exposure. That kind of behaviour usually matters more to investors who care about capital preservation and liquidity than to those chasing sharp price movement.
On a 1-year view, the fund has held up well versus the benchmark, while the benchmark itself has been weak over the same period. That gap matters because it suggests the fund’s defensive profile has helped it avoid the kind of drawdown that can affect broader market reference points. At the same time, its 3-year return is only marginally above the benchmark, so the recent advantage is not a simple long-term outperformance story.
Over 5 years, the fund remains close to the benchmark but trails slightly. That tells us the long-run compounding path has been consistent, yet not materially ahead of the chosen market reference. The pattern across 1Y, 3Y and 5Y is therefore mixed: better recent resilience, but only a small long-horizon edge relative to the benchmark.
For an investor, the key takeaway is that this is a low-drama return stream. The fund’s short-term steadiness and tight movement pattern make sense for parking money rather than trying to outrun equity-linked benchmarks.
Source data date: as of 10 Sep 2026
Should you BUY or HOLD UTI 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 UTI Overnight? Thinking of investing now?
Peer comparison
| Fund | 1Y return | 3Y return | 5Y return |
|---|---|---|---|
| UTI Overnight Fund Direct Growth Plan | 5.29% | 6.09% | 5.7% |
| Bank of India Overnight Fund Direct Growth Plan | 5.51% | 6.22% | 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% | 6.09% | 5.71% |
| Nippon India Overnight Fund Direct Growth Plan | 5.3% | 6.1% | 5.73% |
| DSP Overnight Fund Direct Growth Plan | 5.29% | 6.08% | 5.71% |
This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639.
Against the peer set, the fund’s 1-year return is in the middle of the cluster and sits close to the strongest short-term figures. The difference is small, which tells us that the whole overnight space has been delivering a fairly tight band of returns rather than clear separation.
On 3-year and 5-year numbers, the fund is again very close to the group, but a few peers are modestly ahead on the available figures. That means the long-term comparison is more mixed than the recent one-year picture, where the fund looks more competitive.
Put differently, the short-term story and the long-term story are not identical. Recent resilience has been solid, but the multi-year view shows that several peers have compounded a little better over the same horizon.
Source data date: as of 10 Sep 2026
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Portfolio: where your money goes
| Holding | Sector | Weight |
|---|---|---|
| Net Current Assets | Cash & Cash Equivalents and Net Assets | 84.41% |
| CD – Canara Bank – 01/09/2026 | Certificate of Deposit | 8.85% |
| CP HDFC Securities Ltd | Commercial Paper | 2.66% |
| 182 Days T-Bill – 10/09/2026 | Treasury Bills | 1.33% |
| 182 Days T-Bill – 03/09/2026 | Treasury Bills | 1.15% |
| 91 Days T-Bill – 17/09/2026 | Treasury Bills | 0.62% |
The largest disclosed holding is Net Current Assets at 84.41%, which is extremely dominant relative to the rest of the visible portfolio. After that, the weights fall sharply into a single-digit certificate of deposit and then into smaller money-market instruments.
The gap from the largest position to the sixth disclosed holding is very wide, and that tells us the allocation is structured more like a liquidity sleeve than a diversified multi-asset book. The smaller positions may add incremental yield, but none appears large enough to change the overall profile by itself.
Because the table covers every disclosed holding and the disclosed set contains only six rows, the visible portfolio is highly concentrated in a few very short-duration instruments. The overall mix should therefore be expected to move in a restrained way, with the cash-like base likely to dominate day-to-day behaviour.
Source data date: as of 10 Sep 2026
Who should invest
This fund suits investors who want low volatility and short holding periods, and who are comfortable with modest returns rather than equity-style growth. The Balanced Risk label and the short-duration portfolio both point to an approach that is more about capital stability and liquidity than about aggressive compounding.
It fits best when the investment horizon is short to medium and the objective is to park surplus money while keeping risk contained. The main trade-off is straightforward: you may get steadier behaviour and easier access to cash, but the return profile will usually remain close to money-market and benchmark-like outcomes rather than meaningfully above them.
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 |
No exit load after holding period.
Source data date: as of 10 Sep 2026
Frequently asked questions
What is the current NAV of UTI Overnight Fund Direct Growth Plan?
The current NAV is ₹3771.1868 as of 10 Sep 2026.
What are the fund’s 1-year, 3-year and 5-year returns?
The fund’s returns are 5.29% over 1 year, 6.09% over 3 years and 5.7% over 5 years.
How has the fund performed against its benchmark?
It has been close to the benchmark over 3 years and 5 years, and it has been ahead over 1 year. The benchmark was weaker over the 1-year period, while the 5-year gap remains small.
How does it compare with peer overnight funds?
Its recent return is broadly in line with the peer group, while a few peers are modestly ahead on 3-year and 5-year figures. The differences are small, which is typical for this segment.
Is there a minimum SIP amount?
The minimum SIP amount is ₹500.
What are the risk and portfolio characteristics, and who manages the fund?
The fund is in the Balanced Risk category and its portfolio is dominated by cash-like and short-dated holdings. It is managed by Jaydeep Bhowal, and the exit-load rule says there is no exit load after the holding period.
Bottom line
UTI Overnight Fund Direct Growth Plan shows a steadier recent pattern than its benchmark, but the longer-term picture is more mixed, with 3-year and 5-year returns staying close to the benchmark rather than clearly ahead. Compared with peer overnight funds, it remains in the same narrow return band, although a few peers are slightly stronger on the longer horizons. The portfolio is heavily concentrated in cash and short-dated paper, which supports a low-volatility profile suited to investors seeking liquidity and restraint over high growth.
Published on 11 September 2026 at 10:23 AM 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.