JM Overnight Fund - (Direct)
Overnight Fund · JM Financial Asset Management Limited
Among the 274 similar overnight funds we track, this one has grown money a bit faster than average. ₹1 lakh invested 5 years ago would be about ₹1.3 lakh today. Investing ₹10,000 every month for the last 5 years would have put in ₹6.1 lakh and grown it to about ₹7.1 lakh.
New to fund research? Start with the 5-minute guide. The detailed numbers below back all of this up.JM Overnight Fund - (Direct) is a overnight fund from JM Financial Asset Management Limited. It has a track record of about 6.8 years. As of the latest data it carries an RS rating of 62/99 (its recent momentum versus category peers) and a King Score of 71/100 (a long-term quality composite). The current NAV is ₹1396.25 (as of 2026-09-16).
Growth of ₹100 - last 5 years
JM Overnight Fund - (Direct) returns: last 1, 3, 5 and 10 years
| Period | This fund | Category average |
|---|---|---|
| 1 month | 0.39% | 0.39% |
| 3 months | 1.24% | 1.22% |
| 6 months | 2.46% | 2.43% |
| 1 year | 5.15% | 5.03% |
| 3 years (CAGR) | 5.98% | 5.72% |
| 5 years (CAGR) | 5.64% | 7.99% |
The last 5 years return is 5.64% a year (₹1 lakh → ₹1.3 lakh), and the last 3 years return is 5.98% - ahead of its category's 5.72% average by 0.3 points. Its trailing one-year return is 5.15%. Trailing returns flatter or disappoint depending on the end date you pick - the year-by-year and rolling-return sections below are a fairer read.
Year-by-year returns
| Year | JM Overnight Fund - (D | Benchmark |
|---|---|---|
| 2020 | +3.4% | n/a |
| 2021 | +3.2% | n/a |
| 2022 | +4.7% | n/a |
| 2023 | +6.7% | n/a |
| 2024 | +6.7% | n/a |
| 2025 | +5.7% | n/a |
| 2026 | +3.5% | n/a |
Calendar-year returns show how bumpy the ride really was - an average hides the good years and the ugly ones.
What a monthly SIP in JM Overnight Fund - (Direct) would have made
A ₹10,000-a-month SIP, using this fund's actual NAV history. SIP returns (XIRR) differ from lumpsum CAGR because your money goes in gradually, averaging your entry price.
| SIP duration | You invested | It became | XIRR |
|---|---|---|---|
| 3 years | ₹370,000 | ₹402,748 | 5.58% |
| 5 years | ₹610,000 | ₹706,547 | 5.81% |
Over 5 years, ₹610,000 invested in monthly instalments would have grown to about ₹706,547 - an XIRR of 5.81%. Figures are pre-tax and assume you stayed invested throughout.
Risk & drawdowns
| Measure | This fund | Category average |
|---|---|---|
| Worst drawdown (lifetime) | 0.0% | -0.02% |
| Worst drawdown (3Y) | 0.0% | 0.0% |
| Volatility (1Y) | 0.45% | 0.45% |
| Sharpe (3Y) | -2.12 | -1.84 |
| Bull-market return | 4.4% | 4.73% |
| Bear-market return | 5.0% | 5.12% |
Timing matters more than people admit: the best possible 1-year stretch in JM Overnight Fund - (Direct) (starting 2019-12-04) gained 10253.7%, while the worst (starting 2020-03-23) still made 3.0%. The worst peak-to-bottom fall JM Overnight Fund - (Direct) has ever put investors through is 0.0% - the real test of whether you'd have stayed invested. In falling markets (Nifty below its 200-day average) it has returned about 5.0% annualised, versus 4.4% in rising markets.
How JM Overnight Fund - (Direct) behaves when markets fall
When the market is falling (the Nifty below its 200-day average), JM Overnight Fund - (Direct) has historically returned about 5.0% annualised, versus roughly 4.4% when the market is rising. Its deepest fall on record is 0.0%. Right now it sits about 0.0% at or above its all-time high (last hit 2026-09-16). The real question isn't the average year - it's whether you could hold on through the worst one.
How JM Overnight Fund - (Direct) ranks in its category
Percentile versus its ~274 category peers - 100th is best-in-class, 50th is average. This is the fairest apples-to-apples read.
Consistency (rolling returns)
| Measure | Value |
|---|---|
| Median 3Y rolling CAGR | 5.68% |
| 3Y windows positive | 100.0% |
| Worst 3Y window | 3.71% |
| Median 5Y rolling CAGR | 5.24% |
Instead of one lucky start date, rolling returns test every start date. Across all 3-year windows in its history, JM Overnight Fund - (Direct) returned a median of 5.68% a year, and 100.0% of those windows were positive.
Who manages JM Overnight Fund - (Direct) - and how good are they?
JM Overnight Fund - (Direct) is managed by Killol Pandya, Ruchi Fozdar and Jayant Dhoot. Below is each manager's complete track record - every fund they currently run, judged on the same numbers as everything else on this page - so you can see whether this fund is in strong hands or is the outlier in a weak book.
Killol Pandya's full record
Killol Pandya currently runs 6 funds, across Dynamic Bond, Liquid Fund, Low Duration Fund, Medium to Long Duration Fund and more, with about ₹2,701 Cr under management. The book's average King Score is 75.3/100. Their strongest fund by King Score is JM Liquid Fund (Direct) (83/100); JM Overnight Fund - (Direct) ranks #5 of 6 in their book.
Tap any column heading to sort.
| # | Fund | RS | King | 3M | 6M | 1Y | 3Y CAGR | 5Y CAGR | 10Y CAGR | Sharpe | Roll 3Y | Worst fall |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | JM Liquid Fund (Direct) | 82 | 83 | 1.6% | 3.4% | 6.5% | 6.9% | 6.3% | 6.1% | 1.06 | 6.9% | -0.2% |
| 2 | JM Dynamic Bond Fund - (Direct) | 60 | 80 | 0.9% | 1.9% | 4.0% | 6.8% | 6.0% | 6.6% | 0.13 | 7.5% | -3.0% |
| 3 | JM Short Duration Fund (Direct) | 74 | 77 | 1.3% | 2.8% | 5.4% | 7.1% | n/a | n/a | 0.63 | 7.5% | -0.5% |
| 4 | JM Low Duration Fund (Direct) | 89 | 71 | 1.7% | 3.3% | 6.3% | 7.3% | 6.5% | n/a | 1.32 | 6.5% | -15.0% |
| 5 | JM Overnight Fund - (Direct) (this page) | 62 | 71 | 1.2% | 2.5% | 5.2% | 6.0% | 5.6% | n/a | -2.12 | 5.7% | 0.0% |
| 6 | JM Medium to Long Duration Fund (Direct) | 48 | 70 | 0.4% | 1.5% | 3.5% | 6.6% | 5.3% | 4.7% | 0.02 | 5.1% | -10.6% |
Ruchi Fozdar's full record
Ruchi Fozdar currently runs 16 funds, across Aggressive Hybrid Fund, Dynamic Bond, ELSS, Flexi Cap Fund and more, with about ₹13,242 Cr under management. The book's average King Score is 73.1/100. Their strongest fund by King Score is JM Liquid Fund (Direct) (83/100); JM Overnight Fund - (Direct) ranks #10 of 16 in their book.
Tap any column heading to sort.
| # | Fund | RS | King | 3M | 6M | 1Y | 3Y CAGR | 5Y CAGR | 10Y CAGR | Sharpe | Roll 3Y | Worst fall |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | JM Liquid Fund (Direct) | 82 | 83 | 1.6% | 3.4% | 6.5% | 6.9% | 6.3% | 6.1% | 1.06 | 6.9% | -0.2% |
| 2 | JM Large Cap Fund (Direct) | 82 | 82 | 0.5% | 2.8% | -1.8% | 9.6% | 10.1% | 11.4% | 0.2 | 14.3% | -19.8% |
| 3 | JM ELSS Tax Saver Fund (Direct) | 99 | 80 | 5.6% | 16.1% | 6.6% | 15.4% | 13.8% | 15.9% | 0.52 | 18.1% | -37.4% |
| 4 | JM Dynamic Bond Fund - (Direct) | 60 | 80 | 0.9% | 1.9% | 4.0% | 6.8% | 6.0% | 6.6% | 0.13 | 7.5% | -3.0% |
| 5 | JM Short Duration Fund (Direct) | 74 | 77 | 1.3% | 2.8% | 5.4% | 7.1% | n/a | n/a | 0.63 | 7.5% | -0.5% |
| 6 | JM Midcap Fund (Direct) | 85 | 74 | 1.9% | 18.1% | 7.4% | 18.0% | n/a | n/a | 0.61 | 25.0% | -22.5% |
| 7 | JM Aggressive Hybrid Fund (Direct) | 84 | 73 | 4.1% | 7.2% | -0.9% | 12.3% | 12.7% | 12.7% | 0.44 | 14.7% | -36.6% |
| 8 | JM Aggressive Hybrid Fund (Direct) - Annual Bonus | 84 | 73 | 4.1% | 7.2% | -0.9% | 12.3% | 12.7% | 12.8% | 0.44 | 14.6% | -36.6% |
| 9 | JM Low Duration Fund (Direct) | 89 | 71 | 1.7% | 3.3% | 6.3% | 7.3% | 6.5% | n/a | 1.32 | 6.5% | -15.0% |
| 10 | JM Overnight Fund - (Direct) (this page) | 62 | 71 | 1.2% | 2.5% | 5.2% | 6.0% | 5.6% | n/a | -2.12 | 5.7% | 0.0% |
| 11 | JM Medium to Long Duration Fund (Direct) | 48 | 70 | 0.4% | 1.5% | 3.5% | 6.6% | 5.3% | 4.7% | 0.02 | 5.1% | -10.6% |
| 12 | JM Flexicap Fund (Direct) | 57 | 67 | 2.8% | 10.4% | 0.5% | 13.9% | 14.9% | 16.0% | 0.44 | 18.5% | -35.0% |
| 13 | JM Focused Fund (Direct) | 71 | 64 | 2.7% | 10.3% | 0.3% | 11.4% | 12.8% | 12.3% | 0.28 | 16.9% | -37.4% |
| 14 | JM Value Fund (Direct) | 79 | 58 | 2.6% | 10.7% | -1.9% | 11.4% | 14.2% | 15.1% | 0.28 | 19.2% | -37.9% |
| 15 | JM Large & Mid Cap Fund (Direct) | 86 | n/a | 3.0% | 9.8% | 2.6% | n/a | n/a | n/a | n/a | n/a | -15.0% |
| 16 | JM Small Cap Fund (Direct) | 85 | n/a | 6.1% | 30.2% | 15.1% | n/a | n/a | n/a | 0.05 | n/a | -24.4% |
Jayant Dhoot's full record
Jayant Dhoot currently runs 6 funds, across Dynamic Bond, Liquid Fund, Low Duration Fund, Medium to Long Duration Fund and more, with about ₹2,701 Cr under management. The book's average King Score is 75.3/100. Their strongest fund by King Score is JM Liquid Fund (Direct) (83/100); JM Overnight Fund - (Direct) ranks #5 of 6 in their book.
Tap any column heading to sort.
| # | Fund | RS | King | 3M | 6M | 1Y | 3Y CAGR | 5Y CAGR | 10Y CAGR | Sharpe | Roll 3Y | Worst fall |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | JM Liquid Fund (Direct) | 82 | 83 | 1.6% | 3.4% | 6.5% | 6.9% | 6.3% | 6.1% | 1.06 | 6.9% | -0.2% |
| 2 | JM Dynamic Bond Fund - (Direct) | 60 | 80 | 0.9% | 1.9% | 4.0% | 6.8% | 6.0% | 6.6% | 0.13 | 7.5% | -3.0% |
| 3 | JM Short Duration Fund (Direct) | 74 | 77 | 1.3% | 2.8% | 5.4% | 7.1% | n/a | n/a | 0.63 | 7.5% | -0.5% |
| 4 | JM Low Duration Fund (Direct) | 89 | 71 | 1.7% | 3.3% | 6.3% | 7.3% | 6.5% | n/a | 1.32 | 6.5% | -15.0% |
| 5 | JM Overnight Fund - (Direct) (this page) | 62 | 71 | 1.2% | 2.5% | 5.2% | 6.0% | 5.6% | n/a | -2.12 | 5.7% | 0.0% |
| 6 | JM Medium to Long Duration Fund (Direct) | 48 | 70 | 0.4% | 1.5% | 3.5% | 6.6% | 5.3% | 4.7% | 0.02 | 5.1% | -10.6% |
A caveat worth keeping: funds often have co-managers, and results belong to the whole team and process rather than one person. A manager's book tells you about their range and consistency, not a guarantee of skill.
Cost & fund basics
| Detail | Value |
|---|---|
| Expense ratio (Direct) | 0.07% |
| Exit load | No exit load |
| Minimum investment | ₹1000 |
| Fund size (AUM) | ₹105 Cr |
| Age | 6.8 years |
| Plan / Option | Direct · Growth |
How JM Overnight Fund - (Direct) compares to peers
| Fund | RS | King | 3Y CAGR |
|---|---|---|---|
| BANK OF INDIA Overnight Fund | 98 | 89 | 6.2% |
| quant Overnight Fund | 60 | 88 | 6.1% |
| Bajaj Finserv Overnight Fund | 96 | 87 | 6.1% |
| Baroda BNP Paribas Overnight Fund | 94 | 87 | 6.1% |
| Tata Overnight Fund | 94 | 87 | 6.1% |
| Union Overnight Fund | 83 | 86 | 6.1% |
Overlap warning: funds in the same category often own many of the same stocks - holding several rarely adds the diversification people expect.
What these numbers mean
RS rating (1-99) ranks a fund's recent momentum against its category - higher is stronger right now. King Score (0-100) is a long-term quality composite (returns, consistency, drawdown, risk-adjusted return) versus peers. Max drawdown is the worst peak-to-bottom fall the fund has ever experienced. Rolling returns test every possible start date, so one lucky (or unlucky) entry point can't distort the picture. Every formula behind this page is public - see how we calculate every number.
JM Overnight Fund - (Direct) review: the bottom line
Related
Frequently asked questions
Is JM Overnight Fund - (Direct) a good mutual fund?
That depends on your goals and risk tolerance - this is descriptive research, not advice. On the numbers, JM Overnight Fund - (Direct) scores 71/100 on our King Score and RS 62/99 within its category, has compounded 5.98% a year over three years, and its worst drawdown was 0.0%. Compare those against your needs and the peer table above.
What is the NAV of JM Overnight Fund - (Direct) today?
The latest NAV is ₹1396.25 (as of 2026-09-16). NAV (net asset value) is the per-unit price of the fund, published every business day by the AMC.
What is the expense ratio of JM Overnight Fund - (Direct)?
The Direct-plan expense ratio is 0.07% a year. The Direct plan is cheaper than the Regular plan because it carries no distributor commission - over decades that gap compounds meaningfully.
Who is the fund manager of JM Overnight Fund - (Direct)?
JM Overnight Fund - (Direct) is managed by Killol Pandya; Ruchi Fozdar; Jayant Dhoot.
Is JM Overnight Fund - (Direct) safe? How risky is it?
No market-linked fund is 'safe' in the fixed-deposit sense - the honest question is how deep its falls get. Its worst historical drawdown was 0.0% - ₹1 lakh briefly becoming about ₹1 lakh. As a debt fund, its risk profile is typical of that category. Look at the drawdown, volatility and bear-market figures above and ask whether you could stay invested through the bad stretches.
Is JM Overnight Fund - (Direct) good for SIP?
We can't tell you what to do, but here is what actually happened: a ₹10,000 monthly SIP over the last 5 years grew ₹6.1 lakh into about ₹7.1 lakh (XIRR 5.81%). SIPs average your entry price, which helps most in funds that swing hard - check the crash-behaviour section above to see how it treats investors in bad markets.
What are the SIP returns of JM Overnight Fund - (Direct)?
A ₹10,000/month SIP over 5 years would have grown to about ₹706,547 (an XIRR of 5.81%) on ₹610,000 invested, using the fund's actual NAV history. See the SIP table above for other durations.
How does JM Overnight Fund - (Direct) rank among similar funds?
On 3-year returns it sits around the 67th percentile of its category, and its consistency ranks 80th percentile. 100th is best-in-class, 50th is average. See the category-ranking section above.
Is JM Overnight Fund - (Direct) tax-efficient / what about capital gains?
As a debt fund, gains follow the rules for its asset class - equity-oriented funds are taxed differently from debt. All returns on this page are pre-tax; your actual post-tax return depends on your holding period and slab. This is descriptive information, not tax advice.
Direct or Regular plan - which is shown here?
All figures on this page are for the Direct-Growth plan (no distributor commission, lower cost). Returns are pre-tax; capital-gains tax depends on your own holding period and slab.
See JM Overnight Fund - (Direct) live in the MF Terminal
Everything above is a static snapshot. The terminal is where you actually research it:
- Interactive price chart with EMAs & RSI
- The RS line plotted against its benchmark
- Full holdings, sector mix & portfolio overlap
- Point-in-time backtester & portfolio doctor
- Compare it side-by-side with any peer
- Screen 1,600+ funds on the same metrics
Data: AMFI NAV history, NSE indices, BSE StAR and monthly disclosures. All figures are pre-tax. Descriptive research and education only - nothing here is investment advice or a recommendation to buy, sell or hold any fund. Past performance does not guarantee future returns.