Mahindra Manulife Overnight Fund
This is the Direct plan of Mahindra Manulife Overnight Fund — bought from the fund house, with no distributor commission in its expense ratio. Income is retained in the fund, so it shows up as NAV rather than as a payout.
NAV history
Scorecard
★★☆☆☆2/5 vs 33 of 39 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 39 Overnight Funds in this cohort carry the full record the stars need, so they are the ones ranked against.
3Y CAGR +6.04% · ranks 19 of 33 Overnight Funds
Volatility 0.2% vs 0.1% category avg
0.1% expense vs 0.1% 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
- Low expense ratio (0.10%) vs the Overnight Fund average of 0.12%
- Consistent — positive in 100% of rolling 3-year windows
Concerns
- More volatile than its Overnight Fund peers (0.2% vs 0.1%)
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 | +0.40% | +0.40% | 0.00% |
| 3M abs | +1.27% | +1.26% | +0.01% |
| 6M abs | +2.54% | +2.55% | -0.01% |
| 1Y CAGR | +5.23% | +5.22% | +0.01% |
| 3Y CAGR | +6.04% | +6.02% | +0.02% |
| 5Y CAGR | +5.74% | +5.72% | +0.02% |
Category average across peers in Overnight Fund (up to 39 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 39 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 Mahindra Manulife 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 | +3.91% | |
| 2025 | +5.83% | |
| 2024 | +6.72% | |
| 2023 | +6.70% | |
| 2022 | +4.72% | |
| 2021 | +3.24% | |
| 2020 | +3.40% | |
| 2019part | +2.18% |
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 & Equivalents100.00%
Fund size over time
Quarterly average AUM · AMFIDown +6% from its peak of ₹140.07Cr in January - March 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
Mahindra Manulife Mutual Fund is a joint venture between Mahindra & Mahindra Financial Services and Manulife of Canada, which took a 49% stake in 2020 in what until then was Mahindra Mutual Fund. It runs a compact equity, hybrid and debt line-up.
Fund Managers
RPRahul PalManaging since 23 Jul 2019
Chief Investment Officer – Fixed Income
23 years
B.Com (H), ACA
• Chief Investment • Fund Manager of Officer – Fixed Mahindra Manulife Income, Low Duration Fund MMIMPL, and Mahindra (June 2022 Manulife Dynamic until date) Bond Fund • Head – Fixed • Co – Fund Manager Income, of Mahindra MMIMPL, Manulife Liquid (September 2015 Fund, Mahindra –May 2022); Manulife Overnight • Head Fixed Fund and Mahindra Income, Taurus Manulife Ultra Short Duration Asset Management Co. Fund Ltd. (May 2010 – • Fund Manager of September 2015); the Debt portion of • Fund Manager – Mahindra Manulife Equity Savings Fixed Income, Sundaram Asset Fund, Mahindra Management Co. Manulife Aggressive Hybrid Ltd. (May 2004 – May 2010). Fund, Mahindra Manulife Arbitrage Fund Mahindra Manulife Balanced Advantage Fund and
- Mahindra Manulife Aggressive Hybrid Fund
- Mahindra Manulife Arbitrage Fund
- Mahindra Manulife Balanced Advantage Fund
- Mahindra Manulife Dynamic Bond Fund
- Mahindra Manulife Dynamic Bond Fund
- Mahindra Manulife Equity Savings Fund
- Mahindra Manulife Income Plus Arbitrage Active FOF
- Mahindra Manulife Liquid Fund
- Mahindra Manulife Low Duration Fund
- Mahindra Manulife Multi Asset Allocation Fund
- Mahindra Manulife Short Duration Fund
- Mahindra Manulife Ultra Short Duration Fund
AGAmit GargManaging since 08 Jun 2020
Fund Manager – Fixed Income
20 years
B.Com, MMS Finance, CFA
• Fund Manager – Fixed • Co-Fund Manager Income – MMIMPL - of Mahindra (April 2021 – until date); Manulife Overnight Fixed Income, MMIMPL, Manulife Liquid Fund (June 2020 – April 2021); • Co-Fund Manager • Dealer – Fixed Income, of Debt portion of MMIMPL (September 2015 to June 2020); Mahindra Manulife Aggressive Hybrid • Dealer – Fixed Income, Fund Mahindra & Mahindra • Fund Manager of Financial Services Limited the Debt portion of (April, 2013 to September 2015);’ Mahindra Manulife Asia Pacific REITs • Junior Fund Manager & FOF Dealer, Daiwa Asset Management (India) Pvt. Ltd. (August 2008 to April 2013)
Fund manager, benchmark and dealing terms from 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.
Mahindra Manulife in the news
Headlines about the fund house, not this scheme in particular — highlights only; tap through to read the full story at the source.
Aavinash Yogeshwar Joins TFS As Chief Human Resources Officer
BW People · 12h ago
Indian stocks face a cyclical correction, not a deeper earnings reset: Mahindra Manulife MF CIO
The Economic Times · 2d ago
Kilburn Engineering to host investor meet with Mahindra Manulife on Oct 6
scanx.trade · 4d ago
Mahindra Manulife Dynamic Term Fund - Regular Plan Portfolio
The Economic Times · 4d ago
Mahindra Manulife Dynamic Term Fund Regular-IDCW
The Economic Times · 4d ago
SIF segment poised to gain traction as investors look beyond traditional mutual funds: Mahindra Manulife CEO
Fortune India · 5d ago
Mahindra Manulife Mutual Fund debuts in SIF segment with an equity long-short fund
Livemint · 5d ago
NFO Alert: Mahindra Manulife Mutual Fund debuts in SIF segment with MSIF Equity Long-Short Fund
inkl · 6d ago
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 Mahindra Manulife Overnight Fund?
As of 05 Oct 2026, the NAV of Mahindra Manulife Overnight Fund is ₹1,430.69 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.
What returns has Mahindra Manulife Overnight Fund delivered?
Mahindra Manulife Overnight Fund has returned +5.23% over 1 year, +6.04% per year over 3 years, +5.74% per year over 5 years and +5.10% 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 Mahindra Manulife Overnight Fund?
Mahindra Manulife Overnight Fund charges an expense ratio of 0.10% per year. This annual fee is already deducted from the NAV, so the returns you see are net of it.
How risky is Mahindra Manulife Overnight Fund?
Mahindra Manulife Overnight Fund is rated low on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 0.2% 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 Mahindra Manulife Overnight Fund?
Mahindra Manulife Overnight Fund is benchmarked against the CRISIL Liquid Overnight Index. Its alpha and beta on this page are measured against that index.
Who manages Mahindra Manulife Overnight Fund?
Mahindra Manulife Overnight Fund is managed by Rahul Pal and Amit Garg at Mahindra Manulife.
How is Mahindra Manulife Overnight Fund taxed?
Mahindra Manulife 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.