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Fund Overview

An open-ended debt programme that invests in overnight securities is the HDFC Overnight Fund. A Relatively Low Credit Risk as well as a relatively Low-Interest Rate Risk.

Fund Snapshot

Scheme Objective

To earn returns through investments in debt and overnight-maturity money market instruments. The achievement of the Scheme's investment goal cannot be guaranteed.

Where Will The Scheme Invest?

The plan will invest in overnight-maturity debt and money market instruments. According to the investment objective, the Scheme's corpus shall be invested in any of the following securities, though not necessarily all of them:

Debt securities:

The Scheme will continue to have the option to invest in any type of debt or money market instrument with an overnight maturity. The following list of instruments is more carefully highlighted.

Debt instruments include, but are not restricted to, the following: Non-convertible debentures, bonds, secured premium notes, zero interest bonds, deep discount bonds, floating rate bonds/notes, pass-through certificates, asset-backed securities, mortgage-backed securities, and any other domestic fixed income securities.

• Government of India, state and municipal governments, government agencies, and statutory organisations' debt issuances (which may or may not be backed by a guarantee from the federal or state governments)
• Debt instruments that the Indian government and state governments have guaranteed
• Corporate Entities' (Public/Private Sector Undertakings') Debt Instruments
• Debt instruments issued by development financial organisations and banks in the public and private sectors.

Investment Strategy

Debt instruments include, but are not restricted to, the following: Non-convertible debentures, bonds, secured premium notes, zero interest bonds, deep discount bonds, floating rate bonds/notes, pass-through certificates, asset-backed securities, mortgage-backed securities, and any other domestic fixed income securities.

• Debt issuances of the Government of India, State and local Governments, Government Agencies and statutory bodies (which may or may not carry a state/central government guarantee),
• Debt instruments that the Government of India and State Governments have guaranteed,
• Debt instruments issued by Corporate Entities (Public/Private sector undertakings),
• Debt instruments issued by Public/Private sector banks and development financial institutions.

Liquidity

The provided plan will offer units for sale/switch-in and redemption/switch-out every business day at NAV-based rates. It is an open-ended scheme. The mutual fund must send redemption funds within 10 Business Days of the redemption date, per SEBI (MF) Regulations. If the redemption funds are not sent out within 10 Business Days, the AMC shall pay open interest of 15% per year or any other rate that SEBI may occasionally specify. Nevertheless, the Mutual Fund will typically make an effort to send the Redemption funds within 1 Business Day after accepting the request.

This product is suitable for investors who are seeking:

• Short-term consistent income that might be in line with overnight call rates
• Investing in debt and money market instruments with overnight maturities to generate returns

Transparency

Every business day, including the day before a holiday, the AMC will calculate the NAVs and disclose the NAV of the Scheme at its conclusion. The NAVs must be disclosed in the manner listed below, per SEBI requirements:

• Displayed on the website of the Mutual Fund (www.hdfcfund.com)
• Displayed on the website of Association of Mutual Funds in India (AMFI) (www.amfiindia.com).
• Any other manner as may be specified by SEBI from time to time.

Upon receiving a specific request in this regard, Mutual Fund/AMC will offer unitholders the option of receiving the most recent NAVs via SMS.

Every business day at 11 p.m., AMC must update the NAVs on the Fund and AMFI websites. The causes of any delays in uploading to the AMFI website will be outlined in writing to the AMFI and SEBI. If, for any reason, the NAVs cannot be made accessible before the start of business hours the following day, the Mutual Fund must issue a press statement outlining the situation and stating when it will be able to publish the NAVs.

The Mutual Fund/AMC shall disclose the portfolio of the Scheme (along with the ISIN and other prescribed details) in the prescribed format (i) on a fortnightly basis (i.e., as on the 15th and as on the last day of the month), within 5 days from the end of the fortnight, and (ii) as on the last day of the month/halfyear, i.e., March 31 and September 30, on its website at www.hdfcfund. The Mutual Fund/AMC shall deliver the scheme portfolio monthly and half-yearly statement to unitholders whose e-mail addresses are registered within 10 days of the closure of each month/half-year, respectively.

Every six months, a mutual fund or AMC, will place an ad in the Hindi and English editions of at least two national daily newspapers announcing the availability of the scheme portfolio's half-yearly statement on both their own and the Association of Mutual Funds in India's websites. Upon specific request from a unitholder, Mutual Fund/AMC will provide a physical copy of its scheme portfolio statement, free of charge.

Dematerialization of Units

The option of holding the Units in electronic (dematerialized) form or account statement (non-demat) form would be available to Unitholders. However, units offered under the Daily/Weekly/Fortnightly IDCW Option do not have access to this function (s). Units kept in demat form can be transferred at any time. The applicant must have a beneficiary account with a Depository Participant (DP) of the NSDL/CDSL to hold units in dematerialized form. When purchasing units, they must include the DP's name, ID number, and beneficiary account number on the application form.