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

Shriram Overnight Fund Direct Growth Plan had a NAV of ₹1273.2331 as of 16 Sep 2026 and an AUM of ₹57 Cr. Its 1-year, 3-year and 5-year returns are 5.26%, 6.01% and 0% respectively, and the scheme is tagged as Low Risk. In our view, this is a cash-heavy overnight style fund suited to conservative parking needs rather than return chasing.

Its portfolio is almost fully placed in repo and receivables, which helps explain the low volatility profile. The fund has stayed positive over 1Y and 3Y, but the 5Y figure is not meaningful for a scheme launched in August 2022, so we treat the recent operating history as the more useful guide.

Quick facts

Particular	Details
NAV	₹1,273.2331 as of 16 Sep 2026
AUM	₹57 Cr
Expense Ratio	0.11%
Launch Date	26 Aug 2022
Min SIP	₹500
Risk Category	Low Risk
Benchmark	Nifty 50
Fund Category	Liquid
Exit Load	No exit load
Fund Managers	Amit Modani

The fund is managed by Amit Modani.

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	5.26%	-7.76%
3Y	6.01%	5.74%
5Y	Data not available	Data not available

The short-term picture is steady. Over 1 month and 3 months, the fund has remained positive while the benchmark has been negative, which suggests that overnight positioning has insulated it from broader market swings.

The 1-year return of 5.26% is also well ahead of the benchmark’s -7.76%, but the comparison is only meaningful in the sense that the benchmark is a broad equity index, while this scheme is designed for very different cash-like objectives. That gap does not make the fund a market-beating strategy; it reflects the difference in what each vehicle is meant to do.

Over 3 years, the fund’s 6.01% return is close to the benchmark’s 5.74%, yet the path is much smoother. Our view is that the fund’s role is less about outperforming a riskier index and more about delivering a stable overnight return profile with minimal drawdown risk.

The 5-year figure should not be read as a full-cycle performance record because the fund has been live only since August 2022. For that reason, the recent 1-year and 3-year record, together with the portfolio structure, are the better guides for assessing suitability.

Source data date: as of 16 Sep 2026

Should you BUY or HOLD Shriram 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
Shriram Overnight Fund Direct Growth Plan	5.26%	6.01%	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 returns, the fund is slightly behind the stronger peer figures in the table, with 5.26% at 1 year versus 5.51% and 5.31% for the leading peer entries shown. The same pattern holds at 3 years, where 6.01% trails the 6.21%, 6.09% and 6.08% figures available among peers with longer records.

The short-term comparison is fairly narrow, so the practical difference is modest. Longer-term, the available peer figures point to a small edge for some competitors, but the gap is not large enough to alter the core reading: this is a conservative cash-management product, not a return-led differentiator.

What matters more is that the fund’s own recent record is consistent and positive, while the portfolio remains almost entirely in cash-like instruments. That combination matters for investors who value stability over incremental return differences.

Source data date: as of 16 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
Repo Issue Date 31.08.2026 5.2%	Cash & Cash Equivalents and Net Assets	99.38%
Net Receivables / (Payables)	Cash & Cash Equivalents and Net Assets	0.62%

The largest holding, the repo position, accounts for 99.38% of the portfolio, so the scheme is extremely concentrated in one cash-equivalent exposure. That level of concentration is common for an overnight-style fund, and it helps explain why the return pattern is so stable.

There is very little weight beyond the leading holding, with the remaining disclosed position at 0.62%. In practical terms, the portfolio does not show a broad spread of securities; instead, it is almost entirely driven by one repo exposure and a small receivables balance.

Because only two holdings are disclosed and they together account for 100% of the portfolio, the disclosed structure is fully visible and highly compact. Our view is that this may appeal to investors who want a simple parking avenue with limited portfolio complexity and a low chance of style drift.

Source data date: as of 16 Sep 2026

Who should invest

This fund fits investors with low risk tolerance who want a short holding horizon and a liquid, overnight-style parking place for surplus money. The low-risk tag and cash-heavy portfolio make it suitable for people who care more about steadiness than the possibility of earning more through market-linked assets.

The main trade-off is that the return profile is intentionally restrained. The fund has delivered positive 1-year and 3-year returns, but the gains are modest, and the portfolio structure suggests limited upside beyond overnight carry. Investors who want capital stability and quick access may find that trade-off acceptable, while those seeking meaningful long-term growth will usually need a different product type.

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 Shriram Overnight Fund Direct Growth Plan?
Its current NAV is ₹1273.2331 as of 16 Sep 2026.

What are the fund’s 1-year, 3-year and 5-year returns?
The fund’s 1-year return is 5.26%, its 3-year return is 6.01%, and its 5-year return is Data not available.

How does it compare with the benchmark?
It has outpaced the benchmark over 1 month, 3 months and 1 year, while the 3-year comparison is close. The benchmark is Nifty 50.

How does it compare with the peer funds shown here?
Its recent returns are slightly below some of the peer figures shown, especially at 1 year and 3 years. The differences are small and do not change the fund’s conservative character.

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 Amit Modani, and it has no exit load.

Bottom line

Shriram Overnight Fund Direct Growth Plan shows a steady, low-volatility pattern that is more important than any headline return gap. Recent performance is positive and consistent, while the available longer-window numbers stay close to the benchmark and slightly behind some peer funds. With a portfolio almost entirely in repo and receivables, the scheme looks built for liquidity and capital preservation rather than growth. In our view, it suits investors who want a simple, short-horizon parking option and are comfortable with modest returns in exchange for stability.

Published on 17 September 2026 at 4:26 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.