Franklin India Overnight Fund
Franklin Templeton Mutual Fund · Best Overnight Mutual Funds
This is the Regular plan of Franklin India Overnight Fund — bought through a distributor, whose commission is paid out of its expense ratio. Income is retained in the fund, so it shows up as NAV rather than as a payout.
NAV history
Scorecard
★★★★☆4/5 vs 33 of 38 Overnight Fund peers- Performance 60%
- Risk 15%
- Cost 10%
- Downside 15%
How this is computed
Each verdict is computed from this fund's own metrics against its sub-category — the number behind it is shown, not a black-box rating. The stars weight the same ground 60/15/10/15 (performance/risk/cost/downside) across every fund in the peer group. Ranked within Overnight Fund (same plan and option). 33 of the 38 Overnight Funds in this cohort carry the full record the stars need, so they are the ones ranked against.
3Y CAGR +6.00% · ranks 5 of 33 Overnight Funds
Volatility 0.1% vs 0.1% category avg
0.1% expense vs 0.2% category avg
100% of rolling 3Y windows were positive
Strengths & concerns
Generated from this fund's own numbers against its sub-category — each point names the figure behind it.
Strengths
- Ranks #3 of 34 on 1-year return in its Overnight Fund cohort
- Less volatile than its Overnight Fund peers (0.1% vs 0.1%)
- Low expense ratio (0.11%) vs the Overnight Fund average of 0.19%
- Consistent — positive in 100% of rolling 3-year windows
Concerns
No significant concerns identified.
Key Metrics
Scheme Info
DefinitionsPeriod returns (<1Y, absolute — not annualized)
DefinitionsAnnualized returns (≥1Y — CAGR)
DefinitionsAdvanced metrics — risk
Fund vs category average (Overnight Fund)
| Period | Fund | Category avg. | Diff |
|---|---|---|---|
| 1M abs | +0.42% | +0.39% | +0.03% |
| 3M abs | +1.27% | +1.24% | +0.03% |
| 6M abs | +2.57% | +2.51% | +0.06% |
| 1Y CAGR | +5.28% | +5.14% | +0.14% |
| 3Y CAGR | +6.00% | +5.93% | +0.07% |
| 5Y CAGR | +5.66% | +5.64% | +0.02% |
Category average across peers in Overnight Fund (up to 38 funds with data), same plan and option, excluding this fund. Under-1-year figures are absolute; 1Y and beyond are annualised (CAGR).
Not sure what a figure means? The glossary explains every metric, and the methodology shows the formulas.
Category rank
Vs 38 peers in Overnight Fund
Backtest this fund
What a SIP or one-time investment would have grown to over this fund’s real NAV history.
60 monthly installments of ₹10,000 into Franklin India Overnight Fund, valued at the latest NAV. XIRR annualizes for each installment’s timing.
Calendar-year returns
What the fund actually returned in each year, not the smoothed average.
| Year | Fund | |
|---|---|---|
| 2026part | +3.95% | |
| 2025 | +5.79% | |
| 2024 | +6.62% | |
| 2023 | +6.59% | |
| 2022 | +4.58% | |
| 2021 | +3.09% | |
| 2020 | +3.20% | |
| 2019part | +3.35% |
January–December, from this fund's NAV history. Absolute return, not annualised. “part” marks a year the fund didn't run end to end — its first year, the current year so far, or one it stopped reporting in.
Taxation
Taxed as debtThis is a debt / non-equity fund. Since April 2023 there is no long-term or indexation benefit — every rupee of gain is added to your income and taxed at your income-tax slab rate, whatever the holding period.
Your income-tax slab — no LTCG or indexation benefit
Pick your slab to see the rate that applies to you.
Applies to capital gains on redemption. Excludes IDCW/dividend tax, STT, surcharge and cess, and pre-2018 equity grandfathering. For research only — consult a tax advisor before filing.
Asset allocation
As on 31 Aug 2026 · AMC disclosure- Cash & Equivalents94.62%
- Debt5.38%
Fund size over time
Quarterly average AUM · AMFIAt or near its largest, ₹1,011Cr in April - June 2026. Size matters most where the mandate is narrow — a large small-cap or a very large flexi-cap book is harder to move without moving the price.
Net flow is an estimate: AMFI publishes a quarterly average AUM, not a closing balance, and it covers every plan and option of this scheme together, so it is a read on direction and rough size rather than a cash-flow statement.
AMC Profile
Franklin Templeton Mutual Fund is the Indian arm of Franklin Resources, the US manager, and has operated here since 1996. In April 2020 it wound up six of its Indian debt schemes — the largest such closure the industry has seen — and returned the money to unitholders over the following years.
Fund Managers
PRPallab RoyManaging since 08 May 2019
Assistant Vice President and Portfolio Manager Fixed Income
MBA (Fin.), Assistant Vice President M.Com., DBF
Assistant Vice President and Portfolio Manager - Fixed Income (based at Mumbai). Prior assignments: • Franklin Templeton Asset Management (India) Pvt. Ltd. (June 2001 – till date). Responsible for Liquidity Management & Portfolio MIS – Fixed Income funds. Chief Investment Officer & Managing Director – Fixed Income (based at Mumbai).
RMRohan MaruManaging since 10 Oct 2024
Vice President Portfolio Manager Fixed Income
17.5 years
PGeMBA – Mumbai Education Trust (Finance) Masters in Commerce – RA Podar College, Mumbai University Bachelors in management studies – VES College, Mumbai University.
Vice President- Portfolio Manager, Fixed Income (based in Mumbai). Prior Assignments (last 10 years): ICICI Prudential Asset Management Company Pvt Ltd (05 November 2012 till 27 September 2024) Vice President- Portfolio Manager, Fixed Income (based in Mumbai).
- Franklin India Arbitrage Fund
- Franklin India Conservative Hybrid Fund
- Franklin India Floating Rate Fund
- Franklin India Income Plus Arbitrage Active Fund of Funds
- Franklin India Liquid Fund
- Franklin India Money Market Fund
- Franklin India Multi Asset Allocation Fund
- Franklin India Ultra Short Duration Fund
- Franklin India Ultra Short to Short Term Fund
- Franklin India Aggressive Hybrid Fund - Direct Plan - Growth
- Franklin India Equity Savings Fund - Direct Plan - Growth
- Franklin India Low Duration Fund - Growth Plan
Fund managers from the AMC's filed Scheme Summary — its most recent filing for this scheme. Benchmark and dealing terms from it and this scheme's SEBI-filed Scheme Information Document on AMFI. Each manager's qualifications and role are reconciled across every filing this fund house makes for them, including its Statement of Additional Information. Total AUM via AMFI.
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Returns and risk are computed from NAV history and may differ slightly from other portals due to methodology (rolling vs point-to-point, dividend treatment). For research only — not investment advice.
About Overnight funds
Overnight funds hold securities maturing the very next day, making them the lowest-risk debt category. They're a place to park cash for a few days with almost no interest-rate risk.
Frequently asked questions
What is the NAV of Franklin India Overnight Fund?
As of 05 Oct 2026, the NAV of Franklin India Overnight Fund is ₹1,437.18 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.
What returns has Franklin India Overnight Fund delivered?
Franklin India Overnight Fund has returned +5.28% over 1 year, +6.00% per year over 3 years, +5.66% per year over 5 years and +5.02% per year since inception. Figures beyond one year are annualised (CAGR) and are computed from AMFI NAV history, so they may differ slightly from other portals.
What is the expense ratio of Franklin India Overnight Fund?
Franklin India Overnight Fund charges an expense ratio of 0.11% per year. This annual fee is already deducted from the NAV, so the returns you see are net of it.
What are the top holdings of Franklin India Overnight Fund?
Franklin India Overnight Fund's largest holdings are 91 DTB (24-Sep-2026) (3.2%) and 182 DTB (18-Sep-2026) (2.2%). Holdings are disclosed monthly and change over time.
How risky is Franklin India Overnight Fund?
Franklin India Overnight Fund is rated low on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 0.1% and its worst peak-to-trough fall in our sample was -0.0%. Higher volatility means the NAV swings more; the drawdown shows how far it has fallen from a peak historically.
What is the benchmark of Franklin India Overnight Fund?
Franklin India Overnight Fund is benchmarked against the NIFTY 1D Rate Index. Its alpha and beta on this page are measured against that index.
Who manages Franklin India Overnight Fund?
Franklin India Overnight Fund is managed by Pallab Roy and Rohan Maru at Franklin Templeton.
How is Franklin India Overnight Fund taxed?
Franklin India Overnight Fund is a debt / non-equity fund. Since April 2023 there is no long-term or indexation benefit — capital gains are added to your income and taxed at your income-tax slab rate regardless of how long you held the units.