NJ Overnight Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?

NJ Overnight Fund Direct Growth Plan is at a NAV of ₹1,275.7711 as of 16 September 2026, with scheme AUM of ₹348 Cr. Its 1-year, 3-year and 5-year returns are 5.2%, 6% and 0% respectively, and the fund sits in the Low Risk category.

Our view is that this is a conservative overnight-style option for investors who want a very steady profile rather than a high-return equity-style outcome. The return pattern is modest but relatively stable, and the portfolio is almost entirely in cash and cash equivalents, which supports that low-volatility profile.

Quick facts

Particular	Details
NAV	₹1,275.7711 as of 16 Sep 2026
AUM	₹348 Cr
Expense Ratio	0.05%
Launch Date	01 Aug 2022
Min SIP	₹100
Risk Category	Low Risk
Benchmark	Nifty 50
Fund Category	Liquid
Exit Load	No exit load
Fund Managers	Viral Shah, Dhaval Patel, Jaimin Ilavia

The fund is managed by Viral Shah, Dhaval Patel and Jaimin Ilavia.

Source data date: as of 16 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	0.39%	-4.41%
3M	1.26%	-3.6%
1Y	5.2%	-7.76%
3Y	6%	5.74%
5Y	Data not available	Data not available

The recent pattern is steady rather than dramatic. Over 1 month and 3 months, the fund stayed slightly positive while the benchmark was negative, which points to a noticeably calmer short-term experience.

That short-term resilience is useful context, but it does not change the broader picture: the fund’s 1-year return is positive, yet still measured, and the 3-year return is only a little ahead of the benchmark. In other words, the fund has protected capital better than the benchmark in weak months, but it has not generated a large long-run lead.

The 3-year trail looks smoother than an equity benchmark, which is what we would expect from an overnight-oriented portfolio. The 5-year figure is not available, so we avoid drawing a long-history conclusion beyond the fund’s available track record.

Overall, the return path fits a low-volatility cash-management style: limited upside, but also limited movement. For investors, that means the fund may work better as a parking place for money than as a return-chasing allocation.

Source data date: as of 16 Sep 2026

Should you BUY or HOLD NJ 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.

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Peer comparison

Fund	1Y return	3Y return	5Y return
NJ Overnight Fund Direct Growth Plan	5.2%	6%	Data not available
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.

On recent numbers, the fund is close to the peer group but a touch behind the stronger 1-year figures in the table. Bank of India Overnight Fund Direct Growth Plan leads the set on 1-year and also has the strongest 3-year and 5-year figures among the peers with available data, while this fund remains competitive but not ahead on those same periods.

The longer-term picture is mixed rather than weak. The fund’s 3-year return is still ahead of some peers with available data, but only by a small margin, which suggests its longer-run profile is broadly in line with the category’s calmer end rather than clearly distinct. The short-term comparison tells a slightly different story because the fund has been steadier than the benchmark even when peer returns cluster tightly together.

So, the peer set points to a fund that is acceptable in its lane, but not the one with the strongest return history where data is available. That keeps the focus on stability and liquidity rather than an aggressive return edge.

Source data date: as of 16 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
Clearing Corporation of India Ltd	Cash & Cash Equivalents and Net Assets	99.27%
Net Receivables / (Payables)	Cash & Cash Equivalents and Net Assets	0.73%

The portfolio is highly concentrated in one holding, with Clearing Corporation of India Ltd at 99.27%. That makes the fund’s day-to-day behaviour likely to be shaped mainly by cash-like deployment rather than a spread of different security calls.

Weight falls sharply after the top position. The second disclosed holding is only 0.73%, so there is very little layering between the largest and the next line item. In practical terms, the disclosed holdings do not form a broad ladder; they are effectively a near-single-position structure.

Because the disclosed holdings account for 100% of the portfolio and only two holdings are shown, there is no long tail to diversify away the top weight. That concentration may be appropriate for an overnight strategy, but it also means the fund’s character is much simpler than a diversified multi-security portfolio.

Source data date: as of 16 Sep 2026

Who should invest

This fund suits investors who are comfortable with a Low Risk profile and who value steadiness over return potential. The short-term numbers have been stable, and the 3-year result is modestly positive, but the benchmark comparison shows that the fund is designed more for capital parking than for excess growth.

Our view is that the better use case is a short horizon or liquidity-first allocation where the main need is predictability. The trade-off is clear: you give up meaningful upside in exchange for a calmer return path and a portfolio that stays almost entirely in cash and cash equivalents. It is less compelling for someone looking to build wealth over a long horizon.

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 16 Sep 2026

Frequently asked questions

What is the current NAV of NJ Overnight Fund Direct Growth Plan?
Its NAV is ₹1,275.7711 as of 16 September 2026.

What are the 1-year, 3-year and 5-year returns?
The fund’s 1-year return is 5.2%, its 3-year return is 6%, and its 5-year return is not available.

How has it compared with the benchmark?
It has outpaced the benchmark over 1 month, 3 months and 1 year, while the benchmark remains slightly ahead over 3 years.

How does it compare with peer funds on available returns?
It is close to the peer cluster, but Bank of India Overnight Fund Direct Growth Plan has stronger 1-year, 3-year and 5-year figures where those numbers are available.

What is the minimum SIP amount?
The minimum SIP amount is ₹100.

Who manages the fund and what is the exit load?
The fund is managed by Viral Shah, Dhaval Patel and Jaimin Ilavia. The exit load is nil.

Bottom line

NJ Overnight Fund Direct Growth Plan shows a steady, low-volatility return pattern rather than a standout growth record. It has been ahead of the benchmark in the recent windows, but the longer-term comparison is more restrained, and peer data available in the same category shows stronger figures in some cases. The portfolio is extremely concentrated in cash-equivalent exposure, which supports the low-risk profile. That makes the fund more suitable for investors who want stability and liquidity than for those looking for meaningful long-term compounding.

Published on 17 September 2026 at 3:20 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.