{"id":249367,"date":"2026-09-16T13:27:34","date_gmt":"2026-09-16T07:57:34","guid":{"rendered":"https:\/\/univest.in\/blogs-2\/mahindra-manulife-overnight-fund-direct-growth-review-2026\/"},"modified":"2026-09-16T13:27:34","modified_gmt":"2026-09-16T07:57:34","slug":"mahindra-manulife-overnight-fund-direct-growth-review-2026","status":"publish","type":"post","link":"https:\/\/univest.in\/blogs-2\/mahindra-manulife-overnight-fund-direct-growth-review-2026\/","title":{"rendered":"Mahindra Manulife Overnight Fund Direct Growth Review 2026: NAV, Returns, Portfolio &#038; Should You Invest?"},"content":{"rendered":"<p><a href=\"https:\/\/univest.in\/mutual-funds\/mahindra-manulife-overnight-fund-g-direct-plan\">Mahindra Manulife Overnight Fund Direct Growth Plan<\/a> has a NAV of \u20b91,426.7364 as of 15 Sep 2026 and a scheme AUM of \u20b976 Cr. Its 1-year, 3-year and 5-year returns are 5.26%, 6.07% and 5.71%, and it sits in the Low Risk category.<\/p>\n<p>Our view is that this is a conservative overnight fund built for capital preservation first, with return behaviour that has stayed close to the benchmark over longer periods while the portfolio remains overwhelmingly in cash-like instruments. The trade-off is straightforward: the return profile is steady rather than exciting, but the structure is aligned with investors who want very limited market exposure.<\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_65 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/univest.in\/blogs-2\/mahindra-manulife-overnight-fund-direct-growth-review-2026\/#Quick_facts\" title=\"Quick facts\">Quick facts<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/univest.in\/blogs-2\/mahindra-manulife-overnight-fund-direct-growth-review-2026\/#Performance\" title=\"Performance\">Performance<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/univest.in\/blogs-2\/mahindra-manulife-overnight-fund-direct-growth-review-2026\/#Should_you_BUY_or_HOLD_Mahindra_Manulife_Overnight\" title=\"Should you BUY or HOLD Mahindra Manulife Overnight?\">Should you BUY or HOLD Mahindra Manulife Overnight?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/univest.in\/blogs-2\/mahindra-manulife-overnight-fund-direct-growth-review-2026\/#Peer_comparison\" title=\"Peer comparison\">Peer comparison<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/univest.in\/blogs-2\/mahindra-manulife-overnight-fund-direct-growth-review-2026\/#Portfolio_where_your_money_goes\" title=\"Portfolio: where your money goes\">Portfolio: where your money goes<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/univest.in\/blogs-2\/mahindra-manulife-overnight-fund-direct-growth-review-2026\/#Who_should_invest\" title=\"Who should invest\">Who should invest<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/univest.in\/blogs-2\/mahindra-manulife-overnight-fund-direct-growth-review-2026\/#Tax_and_exit_load\" title=\"Tax and exit load\">Tax and exit load<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/univest.in\/blogs-2\/mahindra-manulife-overnight-fund-direct-growth-review-2026\/#Frequently_asked_questions\" title=\"Frequently asked questions\">Frequently asked questions<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/univest.in\/blogs-2\/mahindra-manulife-overnight-fund-direct-growth-review-2026\/#What_is_the_current_NAV_of_Mahindra_Manulife_Overnight_Fund_Direct_Growth_Plan\" title=\"What is the current NAV of Mahindra Manulife Overnight Fund Direct Growth Plan?\">What is the current NAV of Mahindra Manulife Overnight Fund Direct Growth Plan?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/univest.in\/blogs-2\/mahindra-manulife-overnight-fund-direct-growth-review-2026\/#What_are_the_1-year_3-year_and_5-year_returns\" title=\"What are the 1-year, 3-year and 5-year returns?\">What are the 1-year, 3-year and 5-year returns?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/univest.in\/blogs-2\/mahindra-manulife-overnight-fund-direct-growth-review-2026\/#How_does_the_fund_compare_with_its_benchmark\" title=\"How does the fund compare with its benchmark?\">How does the fund compare with its benchmark?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/univest.in\/blogs-2\/mahindra-manulife-overnight-fund-direct-growth-review-2026\/#How_does_it_compare_with_other_overnight_funds\" title=\"How does it compare with other overnight funds?\">How does it compare with other overnight funds?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/univest.in\/blogs-2\/mahindra-manulife-overnight-fund-direct-growth-review-2026\/#Is_there_a_minimum_SIP_amount\" title=\"Is there a minimum SIP amount?\">Is there a minimum SIP amount?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/univest.in\/blogs-2\/mahindra-manulife-overnight-fund-direct-growth-review-2026\/#Who_manages_the_fund_and_what_is_the_exit_load\" title=\"Who manages the fund and what is the exit load?\">Who manages the fund and what is the exit load?<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/univest.in\/blogs-2\/mahindra-manulife-overnight-fund-direct-growth-review-2026\/#Bottom_line\" title=\"Bottom line\">Bottom line<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/univest.in\/blogs-2\/mahindra-manulife-overnight-fund-direct-growth-review-2026\/#Explore_mutual_funds_with_Univest\" title=\"Explore mutual funds with Univest\">Explore mutual funds with Univest<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/univest.in\/blogs-2\/mahindra-manulife-overnight-fund-direct-growth-review-2026\/#RIA_disclosure\" title=\"RIA disclosure\">RIA disclosure<\/a><\/li><\/ul><\/nav><\/div>\n<h2 style=\"font-weight:700\"><span class=\"ez-toc-section\" id=\"Quick_facts\"><\/span>Quick facts<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table>\n<thead>\n<tr>\n<th>Particular<\/th>\n<th>Details<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>NAV<\/td>\n<td>\u20b91,426.7364 as of 15 Sep 2026<\/td>\n<\/tr>\n<tr>\n<td>AUM<\/td>\n<td>\u20b976 Cr<\/td>\n<\/tr>\n<tr>\n<td>Expense Ratio<\/td>\n<td>0.09%<\/td>\n<\/tr>\n<tr>\n<td>Launch Date<\/td>\n<td>23 Jul 2019<\/td>\n<\/tr>\n<tr>\n<td>Risk Category<\/td>\n<td>Low Risk<\/td>\n<\/tr>\n<tr>\n<td>Benchmark<\/td>\n<td>Nifty 50<\/td>\n<\/tr>\n<tr>\n<td>Fund Category<\/td>\n<td>Liquid<\/td>\n<\/tr>\n<tr>\n<td>Exit Load<\/td>\n<td>No exit load<\/td>\n<\/tr>\n<tr>\n<td>Fund Managers<\/td>\n<td>Rahul Pal, Amit Garg<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>The fund is managed by Rahul Pal and Amit Garg.<\/p>\n<p class=\"mf-source-date\"><small>Source data date: as of 15 Sep 2026<\/small><\/p>\n<h2 style=\"font-weight:700\"><span class=\"ez-toc-section\" id=\"Performance\"><\/span>Performance<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table>\n<thead>\n<tr>\n<th>Period<\/th>\n<th>Fund return<\/th>\n<th>Benchmark return<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>1M<\/td>\n<td>0.4%<\/td>\n<td>-4.81%<\/td>\n<\/tr>\n<tr>\n<td>3M<\/td>\n<td>1.26%<\/td>\n<td>-3.63%<\/td>\n<\/tr>\n<tr>\n<td>1Y<\/td>\n<td>5.26%<\/td>\n<td>-8.27%<\/td>\n<\/tr>\n<tr>\n<td>3Y<\/td>\n<td>6.07%<\/td>\n<td>5.59%<\/td>\n<\/tr>\n<tr>\n<td>5Y<\/td>\n<td>5.71%<\/td>\n<td>5.58%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>The recent numbers are better read as stability rather than strong outperformance. Over 1 month and 3 months, the fund stayed positive while the benchmark was negative, which shows a much calmer path through a weak market stretch. That is exactly what we would expect from an overnight fund and it matters for investors who care more about parking money than chasing upside.<\/p>\n<p>The 1-year return of 5.26% is also materially better than the benchmark\u2019s -8.27%, but the comparison is not a direct like-for-like test of risk because the benchmark is equity-linked and the fund is not. Even so, the gap reinforces that this scheme has behaved as a defensive cash-management vehicle, not as a market tracker.<\/p>\n<p>Looking at 3 years and 5 years, the fund\u2019s 6.07% and 5.71% returns are close to the benchmark\u2019s 5.59% and 5.58%. That narrow spread tells us the longer-term compounding has been steady, with no dramatic swings in either direction. The daily pattern over those horizons also suggests a very smooth trajectory, with only small changes in value from period to period.<\/p>\n<p>For investors, the useful point is that recent resilience and longer-term steadiness point in the same direction. This is not a return-led product; it is a low-volatility parking option whose main appeal is consistency.<\/p>\n<p class=\"mf-source-date\"><small>Source data date: as of 15 Sep 2026<\/small><\/p>\n<section class=\"univest-mf-premium-cta\" style=\"margin:28px 0;padding:24px;border-radius:10px;border:1px solid #d8e3f0;background:#f7faff\">\n<h2 style=\"font-weight:700\"><span class=\"ez-toc-section\" id=\"Should_you_BUY_or_HOLD_Mahindra_Manulife_Overnight\"><\/span>Should you BUY or HOLD Mahindra Manulife Overnight?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>A fund&#8217;s past returns alone don&#8217;t tell you whether you should buy it today or continue holding it.<\/p>\n<p>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.<\/p>\n<p><strong>Already holding Mahindra Manulife Overnight? Thinking of investing now?<\/strong><\/p>\n<p><a href=\"https:\/\/univest.in\/mutual-funds\" style=\"font-weight:700;text-decoration:none\">Get your portfolio analysed for FREE by SEBI-registered Investment Adviser (RIA) through Univest MF Premium<\/a><\/p>\n<\/section>\n<h2 style=\"font-weight:700\"><span class=\"ez-toc-section\" id=\"Peer_comparison\"><\/span>Peer comparison<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table>\n<thead>\n<tr>\n<th>Fund<\/th>\n<th>1Y return<\/th>\n<th>3Y return<\/th>\n<th>5Y return<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td><a href=\"https:\/\/univest.in\/mutual-funds\/mahindra-manulife-overnight-fund-g-direct-plan\">Mahindra Manulife Overnight Fund Direct Growth Plan<\/a><\/td>\n<td>5.26%<\/td>\n<td>6.07%<\/td>\n<td>5.71%<\/td>\n<\/tr>\n<tr>\n<td><a href=\"https:\/\/univest.in\/mutual-funds\/bank-of-india-overnight-fund-g-direct-plan\">Bank of India Overnight Fund Direct Growth Plan<\/a><\/td>\n<td>5.51%<\/td>\n<td>6.21%<\/td>\n<td>5.83%<\/td>\n<\/tr>\n<tr>\n<td><a href=\"https:\/\/univest.in\/mutual-funds\/360-one-overnight-fund-g-direct-plan\">360 ONE Overnight Fund Direct Growth Plan<\/a><\/td>\n<td>5.32%<\/td>\n<td>Data not available<\/td>\n<td>Data not available<\/td>\n<\/tr>\n<tr>\n<td><a href=\"https:\/\/univest.in\/mutual-funds\/baroda-bnp-paribas-overnight-fund-g-direct-plan\">Baroda BNP Paribas Overnight Fund Direct Growth Plan<\/a><\/td>\n<td>5.3%<\/td>\n<td>6.08%<\/td>\n<td>5.72%<\/td>\n<\/tr>\n<tr>\n<td><a href=\"https:\/\/univest.in\/mutual-funds\/nippon-india-overnight-fund-g-direct-plan\">Nippon India Overnight Fund Direct Growth Plan<\/a><\/td>\n<td>5.29%<\/td>\n<td>6.09%<\/td>\n<td>5.73%<\/td>\n<\/tr>\n<tr>\n<td><a href=\"https:\/\/univest.in\/mutual-funds\/dsp-overnight-fund-g-direct-plan\">DSP Overnight Fund Direct Growth Plan<\/a><\/td>\n<td>5.28%<\/td>\n<td>6.08%<\/td>\n<td>5.72%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639.<\/p>\n<p>Across the peer set, the fund\u2019s 1-year return is slightly below several close comparables, including 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 wide, but it does show that the fund has not led the short-term pack on the available figures.<\/p>\n<p>The longer horizon picture is similarly measured. Its 3-year and 5-year returns of 6.07% and 5.71% are close to the other overnight funds with available history, and they sit just below Bank of India Overnight Fund Direct Growth Plan and a touch under Baroda BNP Paribas Overnight Fund Direct Growth Plan and Nippon India Overnight Fund Direct Growth Plan. That keeps the fund in the same broad return band as its peers.<\/p>\n<p>The most important takeaway is that the short-term and longer-term stories are aligned: this is a stable, low-volatility fund rather than one that relies on occasional bursts of outperformance. For conservative cash parking, that consistency may matter more than small differences in annualized return.<\/p>\n<p class=\"mf-source-date\"><small>Source data date: as of 15 Sep 2026<\/small><\/p>\n<div class=\"univest-peer-login-cta\" style=\"margin:20px 0;padding:16px 18px;border:1px solid #d8e3f0;border-radius:8px;background:#f7faff\">\n<p style=\"margin:0\"><strong>Want to know more?<\/strong> <a href=\"https:\/\/univest.in\/user\/log-in\" style=\"font-weight:700;text-decoration:none\">Log in to Univest<\/a> for more mutual fund insights.<\/p>\n<\/div>\n<h2 style=\"font-weight:700\"><span class=\"ez-toc-section\" id=\"Portfolio_where_your_money_goes\"><\/span>Portfolio: where your money goes<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table>\n<thead>\n<tr>\n<th>Holding<\/th>\n<th>Sector<\/th>\n<th>Weight<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>Triparty Repo<\/td>\n<td>Cash &amp; Cash Equivalents and Net Assets<\/td>\n<td>94.47%<\/td>\n<\/tr>\n<tr>\n<td>91 Days Tbill 2026<\/td>\n<td>Treasury Bills<\/td>\n<td>4.87%<\/td>\n<\/tr>\n<tr>\n<td>Margin Placed With Ccil &amp; Arcl<\/td>\n<td>Cash &amp; Cash Equivalents and Net Assets<\/td>\n<td>0.68%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>Triparty Repo alone accounts for 94.47% of the disclosed portfolio, so the fund is heavily anchored in overnight-style cash management. The second position, 91 Days Tbill 2026, is much smaller at 4.87%, and the remaining disclosed holding is only 0.68%. That pattern leaves very little room for stock-style or credit-style volatility in the visible portfolio.<\/p>\n<p>The steep drop from the largest position to the next two holdings tells us the scheme is highly concentrated in cash-equivalent exposure rather than spread across many active bets. With just three disclosed holdings in total, the structure looks intentionally simple and short-term in nature.<\/p>\n<p>The three visible holdings together make up 100% of the disclosed portfolio, which means there is no long tail within the reported positions. In our view, that concentration is not a weakness here; it is consistent with an overnight fund whose role is to keep portfolio movement limited and predictable.<\/p>\n<p class=\"mf-source-date\"><small>Source data date: as of 15 Sep 2026<\/small><\/p>\n<h2 style=\"font-weight:700\"><span class=\"ez-toc-section\" id=\"Who_should_invest\"><\/span>Who should invest<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>This fund is suited to conservative investors who can accept very low upside in exchange for a Low Risk profile and a smoother day-to-day value path. The 1-year, 3-year and 5-year figures point to steadiness rather than aggressive growth, and the benchmark comparison reinforces that the fund is designed for capital parking rather than market participation.<\/p>\n<p>A longer horizon is not necessary in the way it is for equity funds, but the scheme still makes sense for investors who want a short holding period with limited volatility. The main trade-off is that the cash-like portfolio and overnight structure help keep movements subdued, yet that also caps the return potential relative to higher-risk alternatives.<\/p>\n<h2 style=\"font-weight:700\"><span class=\"ez-toc-section\" id=\"Tax_and_exit_load\"><\/span>Tax and exit load<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table>\n<thead>\n<tr>\n<th>Holding period<\/th>\n<th>Tax rate<\/th>\n<th>Description<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>Units held less than 1 year<\/td>\n<td>20%<\/td>\n<td>Short-term capital gains tax<\/td>\n<\/tr>\n<tr>\n<td>Units held more than 1 year<\/td>\n<td>12.5%<\/td>\n<td>Long-term capital gains tax<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>Exit load: No exit load.<\/p>\n<p class=\"mf-source-date\"><small>Source data date: as of 15 Sep 2026<\/small><\/p>\n<h2 style=\"font-weight:700\"><span class=\"ez-toc-section\" id=\"Frequently_asked_questions\"><\/span>Frequently asked questions<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3 style=\"font-weight:700\"><span class=\"ez-toc-section\" id=\"What_is_the_current_NAV_of_Mahindra_Manulife_Overnight_Fund_Direct_Growth_Plan\"><\/span>What is the current NAV of Mahindra Manulife Overnight Fund Direct Growth Plan?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>The current NAV is \u20b91,426.7364 as of 15 Sep 2026.<\/p>\n<h3 style=\"font-weight:700\"><span class=\"ez-toc-section\" id=\"What_are_the_1-year_3-year_and_5-year_returns\"><\/span>What are the 1-year, 3-year and 5-year returns?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>The 1-year return is 5.26%, the 3-year return is 6.07%, and the 5-year return is 5.71%.<\/p>\n<h3 style=\"font-weight:700\"><span class=\"ez-toc-section\" id=\"How_does_the_fund_compare_with_its_benchmark\"><\/span>How does the fund compare with its benchmark?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Its 1-year return of 5.26% is well ahead of the benchmark\u2019s -8.27%, while the 3-year and 5-year returns of 6.07% and 5.71% are close to the benchmark\u2019s 5.59% and 5.58%.<\/p>\n<h3 style=\"font-weight:700\"><span class=\"ez-toc-section\" id=\"How_does_it_compare_with_other_overnight_funds\"><\/span>How does it compare with other overnight funds?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Its recent and longer-term returns sit in the same general band as the peer funds listed here, although Bank of India Overnight Fund Direct Growth Plan has slightly higher available 1-year, 3-year and 5-year figures.<\/p>\n<h3 style=\"font-weight:700\"><span class=\"ez-toc-section\" id=\"Is_there_a_minimum_SIP_amount\"><\/span>Is there a minimum SIP amount?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>No minimum SIP amount is stated here.<\/p>\n<h3 style=\"font-weight:700\"><span class=\"ez-toc-section\" id=\"Who_manages_the_fund_and_what_is_the_exit_load\"><\/span>Who manages the fund and what is the exit load?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>The fund is managed by Rahul Pal and Amit Garg. There is no exit load.<\/p>\n<h2 style=\"font-weight:700\"><span class=\"ez-toc-section\" id=\"Bottom_line\"><\/span>Bottom line<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Mahindra Manulife Overnight Fund Direct Growth Plan is a low-volatility cash-management fund whose recent returns and longer-term compounding both look steady rather than standout. It stays close to the peer cluster on the available numbers, with the main distinction coming from its conservative structure and very high dependence on Triparty Repo. That makes it a practical fit for investors who prioritise stability, liquidity and minimal portfolio movement over return maximisation.<\/p>\n<p class=\"univest-posted-at\" style=\"font-size:14px;color:#666;margin:20px 0 8px\">Published on 16 September 2026 at 1:26 PM IST<\/p>\n<section class=\"univest-login-cta\" style=\"margin:28px 0;padding:24px;border-radius:10px;background:#eef5ff;border:1px solid #cddff7;text-align:center\">\n<h2 style=\"font-weight:700\"><span class=\"ez-toc-section\" id=\"Explore_mutual_funds_with_Univest\"><\/span>Explore mutual funds with Univest<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Review mutual fund data, compare performance and explore fund insights on Univest.<\/p>\n<p><a href=\"https:\/\/univest.in\/user\/log-in\" style=\"display:inline-block;padding:11px 20px;border-radius:6px;background:#1f4e79;color:#fff !important;text-decoration:none;font-weight:700\">Explore Univest<\/a><\/p>\n<\/section>\n<section class=\"univest-disclaimer\">\n<h2 style=\"font-weight:700\"><span class=\"ez-toc-section\" id=\"RIA_disclosure\"><\/span>RIA disclosure<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>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.<\/p>\n<\/section>\n<p><script type=\"application\/ld+json\">{\"@context\":\"https:\/\/schema.org\",\"@type\":\"InvestmentFund\",\"name\":\"Mahindra Manulife Overnight Fund Direct Growth Plan\",\"identifier\":\"mahindra-manulife-overnight-fund-g-direct-plan\",\"category\":\"Liquid\",\"dateCreated\":\"23 Jul 2019\",\"isAccessibleForFree\":true,\"additionalProperty\":[{\"@type\":\"PropertyValue\",\"name\":\"NAV\",\"value\":1426.7364,\"valueReference\":\"as of 15 Sep 2026\"},{\"@type\":\"PropertyValue\",\"name\":\"AUM\",\"value\":\"76 Cr\"},{\"@type\":\"PropertyValue\",\"name\":\"Expense Ratio\",\"value\":\"0.09\"},{\"@type\":\"PropertyValue\",\"name\":\"Benchmark\",\"value\":\"Nifty 50\"},{\"@type\":\"PropertyValue\",\"name\":\"1Y Return\",\"value\":5.26},{\"@type\":\"PropertyValue\",\"name\":\"3Y Return\",\"value\":6.07},{\"@type\":\"PropertyValue\",\"name\":\"5Y Return\",\"value\":5.71},{\"@type\":\"PropertyValue\",\"name\":\"Fund Managers\",\"value\":\"Rahul Pal, Amit Garg\"}]}<\/script><script type=\"application\/ld+json\">{\"@context\":\"https:\/\/schema.org\",\"@type\":\"FAQPage\",\"mainEntity\":[{\"@type\":\"Question\",\"name\":\"What is the current NAV of Mahindra Manulife Overnight Fund Direct Growth Plan?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"The current NAV is \u20b91,426.7364 as of 15 Sep 2026.\"}},{\"@type\":\"Question\",\"name\":\"What are the 1-year, 3-year and 5-year returns?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"The 1-year return is 5.26%, the 3-year return is 6.07%, and the 5-year return is 5.71%.\"}},{\"@type\":\"Question\",\"name\":\"How does the fund compare with its benchmark?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Its 1-year return of 5.26% is well ahead of the benchmark\u2019s -8.27%, while the 3-year and 5-year returns of 6.07% and 5.71% are close to the benchmark\u2019s 5.59% and 5.58%.\"}},{\"@type\":\"Question\",\"name\":\"How does it compare with other overnight funds?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Its recent and longer-term returns sit in the same general band as the peer funds listed here, although Bank of India Overnight Fund Direct Growth Plan has slightly higher available 1-year, 3-year and 5-year figures.\"}},{\"@type\":\"Question\",\"name\":\"Is there a minimum SIP amount?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"No minimum SIP amount is stated here.\"}},{\"@type\":\"Question\",\"name\":\"Who manages the fund and what is the exit load?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"The fund is managed by Rahul Pal and Amit Garg. There is no exit load.\"}}]}<\/script><script type=\"application\/ld+json\">{\"@context\":\"https:\/\/schema.org\",\"@type\":\"Organization\",\"name\":\"Uniapps Investment Adviser Pvt. Ltd.\",\"description\":\"SEBI Registered Investment Adviser INA000017639\"}<\/script><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Mahindra Manulife Overnight Fund Direct Growth Plan has a \u20b91,426.7364 NAV and \u20b976 Cr AUM as of 15 Sep 2026. Its 1Y, 3Y and 5Y returns are 5.26%, 6.07% and 5.71%, with a Low Risk tag and a cash-heavy overnight portfolio.<\/p>\n","protected":false},"author":38,"featured_media":249360,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3841],"tags":[],"class_list":["post-249367","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-mutual-funds"],"metadata":{"rank_math_internal_links_processed":["1"],"_thumbnail_id":["249360"],"rank_math_title":["Mahindra Manulife Overnight Fund Review 2026"],"rank_math_description":["Mahindra Manulife Overnight Fund Direct Growth Plan NAV \u20b91,426.7364; 1Y return 5.26%, 3Y 6.07%."],"rank_math_focus_keyword":["Mahindra Manulife Overnight Fund Direct Growth Plan review"],"rank_math_robots":["a:2:{i:0;s:7:\"noindex\";i:1;s:8:\"nofollow\";}"]},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2026\/09\/Mahindra_Manulife_Overnight_Fund_Direct_Growth_Review_2026_NAV_Returns_Portfolio_Should_You_Invest_neutral.png","_links":{"self":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts\/249367","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/users\/38"}],"replies":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/comments?post=249367"}],"version-history":[{"count":0,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts\/249367\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/media\/249360"}],"wp:attachment":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/media?parent=249367"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/categories?post=249367"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/tags?post=249367"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}