Investment Objective
The Scheme aims to provide reasonable returns commensurate with low risk and providing a high level of liquidity, through investments made primarily in overnight securities having maturity of 1 business day.
(However, there can be no assurance that the investment objective of the Scheme will be achieved. The Scheme does not guarantee/indicate any returns.)
Investment Strategy
The scheme invests in overnight securities with maturity of one day. Investors looking for low risk, alternate investment avenues to park idle surplus funds for very short term, to manage their short-term liquidity needs should look at investing in this fund.
Treasury bills, Government securities, (Tri Party Repo), Debt (Only PSU, PFI and other Quasi-Government bodies) and money market instruments* with maturity on or before the next business day: 0% - 100%.
(*Money market instruments include commercial papers, commercial bills, treasury bills, Government securities having an unexpired maturity up to one year, call or notice money, certificate of deposit, usance bills, and any other like instruments as specified by the Reserve Bank of India from time to time.)
The scheme will limit the investments into debt instruments with 1 day residual maturity only to Government securities, SDLs, PSUs, PFIs and other Quasi-Government papers.