Best Money Market Mutual Funds 2025

Updated on November 5, 2025 , 43611 views

In common terms, Best Liquid Funds (Money market funds) are Debt Mutual Funds or rather money Market Mutual Funds with the only difference being in the investment duration. Money market funds invest in very short money market instruments like the Certificate of Deposit, treasury bills, commercial papers etc.

The investment duration of these funds is very short, generally ranging from a couple of days to a few weeks (it can even be one day!). The average residual maturity of Liquid Funds is less than 91 days as they invest in securities which individually have a maturity upto 91 days.

Being a short-term Debt fund, these funds are highly suitable for investors looking for low-risk investments for short duration. The low maturity period of best liquid funds helps fund managers to fulfil the Redemption demand of investors easily. In the market, there are various money market fund investments available.

Why to Invest in Money Market Funds?

Securities in the money market are relatively low risk
Money market funds are considered to be the safe and secure of all Mutual Fund investments
Considering money market funds, it’s easy to invest in a money market account. Investing through Mutual Funds investors can open an account, make deposits and withdrawals virtually at their convenience
Money market funds are considered to be one of the least volatile types of all mutual fund investments
The performance of money market funds is closely tied to the interest rates set by the Reserve Bank of India, the Central Bank of India. So, when RBI raises rates in the market, yields increase, and money market funds are able to give good returns.

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How do Money Market Funds work?

A money market fund invests in money market instruments with an objective of Offering good returns (interest Income) and keeping the NAV fluctuations minimal.

Types of Money Market Instruments

Money Market is an exchange where the trade of cash and cash-equivalent instruments takes place. The instruments that are traded in the money markets have maturities which can vary from overnight to one year. Here are some key money market instruments in India:

1. Treasury Bills or T-Bills

The Government of India issues treasury bills to raise funds for a period of up to 365 days. Since these are issued by the government, they are considered to be very safe. However, lower risks also translate into lower returns which is the case with treasury bills too. The returns on T-bills is lower than other money market instruments.

2. Certificate of Deposit or CD

A CD is a term deposit which is offered by scheduled commercial banks which does not have the option of premature redemption. The primary difference between a CD and FD is that CDs are freely negotiable.

3. Repurchase Agreements or Repos

A repurchase agreement is made between a bank and RBI to facilitate short-term loans. It can also be made between two banks.

4. Commercial Paper or CP

Companies and financial institutions with a high credit rating can issue a Commercial Paper which is a short-term, unsecured promissory note. It allows such entities to diversify their short-term borrowing sources. CPs are usually issued at a discounted rate while the redemption is done on Face Value. The investor earns the difference.

Top 8 Money Market Mutual Funds 2025

Fund	NAV	Net Assets (Cr)	1 MO (%)	3 MO (%)	6 MO (%)	1 YR (%)	2024 (%)	Debt Yield (YTM)	Mod. Duration	Eff. Maturity
UTI Money Market Fund Growth	₹3,158.31 ↑ 0.59	₹19,496	0.5	1.5	3.4	7.6	7.7	6.22%	5M 27D	5M 28D
Franklin India Savings Fund Growth	₹51.3585 ↑ 0.01	₹3,865	0.5	1.4	3.3	7.6	7.7	6.08%	5M 26D	6M 7D
Nippon India Money Market Fund Growth	₹4,250.32 ↑ 0.71	₹23,881	0.5	1.5	3.3	7.6	7.8	6.27%	5M 11D	5M 21D
ICICI Prudential Money Market Fund Growth	₹388.558 ↑ 0.07	₹37,137	0.5	1.4	3.3	7.6	7.7	6.17%	5M 1D	5M 11D
Tata Money Market Fund Growth	₹4,834.67 ↑ 0.83	₹38,965	0.5	1.5	3.3	7.6	7.7	6.22%	5M 12D	5M 12D
Aditya Birla Sun Life Money Manager Fund Growth	₹378.913 ↑ 0.07	₹27,665	0.5	1.5	3.4	7.6	7.8	6.24%	5M 12D	5M 12D
Kotak Money Market Scheme Growth	₹4,597.59 ↑ 0.87	₹35,644	0.5	1.4	3.3	7.5	7.7	6.23%	5M 16D	5M 19D
HDFC Money Market Fund Growth	₹5,851.24 ↑ 1.05	₹36,376	0.5	1.4	3.3	7.5	7.7	6.24%	5M 11D	5M 22D
Note: Returns up to 1 year are on absolute basis & more than 1 year are on CAGR basis. as on 7 Nov 25

Research Highlights & Commentary of 8 Funds showcased

Commentary	UTI Money Market Fund	Franklin India Savings Fund	Nippon India Money Market Fund	ICICI Prudential Money Market Fund	Tata Money Market Fund	Aditya Birla Sun Life Money Manager Fund	Kotak Money Market Scheme	HDFC Money Market Fund
Point 1	Bottom quartile AUM (₹19,496 Cr).	Bottom quartile AUM (₹3,865 Cr).	Lower mid AUM (₹23,881 Cr).	Top quartile AUM (₹37,137 Cr).	Highest AUM (₹38,965 Cr).	Lower mid AUM (₹27,665 Cr).	Upper mid AUM (₹35,644 Cr).	Upper mid AUM (₹36,376 Cr).
Point 2	Established history (16+ yrs).	Established history (23+ yrs).	Established history (20+ yrs).	Established history (19+ yrs).	Established history (22+ yrs).	Established history (20+ yrs).	Established history (22+ yrs).	Oldest track record among peers (25 yrs).
Point 3	Rating: 4★ (top quartile).	Rating: 3★ (lower mid).	Rating: 3★ (lower mid).	Rating: 4★ (upper mid).	Rating: 3★ (bottom quartile).	Top rated.	Rating: 4★ (upper mid).	Rating: 3★ (bottom quartile).
Point 4	Risk profile: Low.	Risk profile: Moderately Low.	Risk profile: Low.	Risk profile: Low.	Risk profile: Low.	Risk profile: Low.	Risk profile: Low.	Risk profile: Low.
Point 5	1Y return: 7.64% (top quartile).	1Y return: 7.60% (top quartile).	1Y return: 7.59% (upper mid).	1Y return: 7.59% (upper mid).	1Y return: 7.58% (lower mid).	1Y return: 7.57% (lower mid).	1Y return: 7.54% (bottom quartile).	1Y return: 7.52% (bottom quartile).
Point 6	1M return: 0.48% (top quartile).	1M return: 0.47% (bottom quartile).	1M return: 0.47% (upper mid).	1M return: 0.47% (lower mid).	1M return: 0.47% (lower mid).	1M return: 0.48% (top quartile).	1M return: 0.47% (upper mid).	1M return: 0.47% (bottom quartile).
Point 7	Sharpe: 3.22 (top quartile).	Sharpe: 2.97 (bottom quartile).	Sharpe: 3.09 (upper mid).	Sharpe: 3.02 (lower mid).	Sharpe: 3.08 (upper mid).	Sharpe: 3.32 (top quartile).	Sharpe: 3.03 (lower mid).	Sharpe: 2.95 (bottom quartile).
Point 8	Information ratio: 0.00 (top quartile).	Information ratio: 0.00 (top quartile).	Information ratio: 0.00 (upper mid).	Information ratio: 0.00 (upper mid).	Information ratio: 0.00 (lower mid).	Information ratio: 0.00 (lower mid).	Information ratio: 0.00 (bottom quartile).	Information ratio: 0.00 (bottom quartile).
Point 9	Yield to maturity (debt): 6.22% (lower mid).	Yield to maturity (debt): 6.08% (bottom quartile).	Yield to maturity (debt): 6.27% (top quartile).	Yield to maturity (debt): 6.17% (bottom quartile).	Yield to maturity (debt): 6.22% (lower mid).	Yield to maturity (debt): 6.24% (top quartile).	Yield to maturity (debt): 6.23% (upper mid).	Yield to maturity (debt): 6.24% (upper mid).
Point 10	Modified duration: 0.49 yrs (bottom quartile).	Modified duration: 0.49 yrs (bottom quartile).	Modified duration: 0.45 yrs (top quartile).	Modified duration: 0.42 yrs (top quartile).	Modified duration: 0.45 yrs (upper mid).	Modified duration: 0.45 yrs (lower mid).	Modified duration: 0.46 yrs (lower mid).	Modified duration: 0.45 yrs (upper mid).

UTI Money Market Fund

Bottom quartile AUM (₹19,496 Cr).
Established history (16+ yrs).
Rating: 4★ (top quartile).
Risk profile: Low.
1Y return: 7.64% (top quartile).
1M return: 0.48% (top quartile).
Sharpe: 3.22 (top quartile).
Information ratio: 0.00 (top quartile).
Yield to maturity (debt): 6.22% (lower mid).
Modified duration: 0.49 yrs (bottom quartile).

Franklin India Savings Fund

Bottom quartile AUM (₹3,865 Cr).
Established history (23+ yrs).
Rating: 3★ (lower mid).
Risk profile: Moderately Low.
1Y return: 7.60% (top quartile).
1M return: 0.47% (bottom quartile).
Sharpe: 2.97 (bottom quartile).
Information ratio: 0.00 (top quartile).
Yield to maturity (debt): 6.08% (bottom quartile).
Modified duration: 0.49 yrs (bottom quartile).

Nippon India Money Market Fund

Lower mid AUM (₹23,881 Cr).
Established history (20+ yrs).
Rating: 3★ (lower mid).
Risk profile: Low.
1Y return: 7.59% (upper mid).
1M return: 0.47% (upper mid).
Sharpe: 3.09 (upper mid).
Information ratio: 0.00 (upper mid).
Yield to maturity (debt): 6.27% (top quartile).
Modified duration: 0.45 yrs (top quartile).

ICICI Prudential Money Market Fund

Top quartile AUM (₹37,137 Cr).
Established history (19+ yrs).
Rating: 4★ (upper mid).
Risk profile: Low.
1Y return: 7.59% (upper mid).
1M return: 0.47% (lower mid).
Sharpe: 3.02 (lower mid).
Information ratio: 0.00 (upper mid).
Yield to maturity (debt): 6.17% (bottom quartile).
Modified duration: 0.42 yrs (top quartile).

Tata Money Market Fund

Highest AUM (₹38,965 Cr).
Established history (22+ yrs).
Rating: 3★ (bottom quartile).
Risk profile: Low.
1Y return: 7.58% (lower mid).
1M return: 0.47% (lower mid).
Sharpe: 3.08 (upper mid).
Information ratio: 0.00 (lower mid).
Yield to maturity (debt): 6.22% (lower mid).
Modified duration: 0.45 yrs (upper mid).

Aditya Birla Sun Life Money Manager Fund

Lower mid AUM (₹27,665 Cr).
Established history (20+ yrs).
Top rated.
Risk profile: Low.
1Y return: 7.57% (lower mid).
1M return: 0.48% (top quartile).
Sharpe: 3.32 (top quartile).
Information ratio: 0.00 (lower mid).
Yield to maturity (debt): 6.24% (top quartile).
Modified duration: 0.45 yrs (lower mid).

Kotak Money Market Scheme

Upper mid AUM (₹35,644 Cr).
Established history (22+ yrs).
Rating: 4★ (upper mid).
Risk profile: Low.
1Y return: 7.54% (bottom quartile).
1M return: 0.47% (upper mid).
Sharpe: 3.03 (lower mid).
Information ratio: 0.00 (bottom quartile).
Yield to maturity (debt): 6.23% (upper mid).
Modified duration: 0.46 yrs (lower mid).

HDFC Money Market Fund

Upper mid AUM (₹36,376 Cr).
Oldest track record among peers (25 yrs).
Rating: 3★ (bottom quartile).
Risk profile: Low.
1Y return: 7.52% (bottom quartile).
1M return: 0.47% (bottom quartile).
Sharpe: 2.95 (bottom quartile).
Information ratio: 0.00 (bottom quartile).
Yield to maturity (debt): 6.24% (upper mid).
Modified duration: 0.45 yrs (upper mid).

1. UTI Money Market Fund

To provide highest possible current income consistent with preservation of capital and providing liquidity from investing in a diversified portfolio of short term money market securities.

Research Highlights for UTI Money Market Fund

Bottom quartile AUM (₹19,496 Cr).
Established history (16+ yrs).
Rating: 4★ (top quartile).
Risk profile: Low.
1Y return: 7.64% (top quartile).
1M return: 0.48% (top quartile).
Sharpe: 3.22 (top quartile).
Information ratio: 0.00 (top quartile).
Yield to maturity (debt): 6.22% (lower mid).
Modified duration: 0.49 yrs (bottom quartile).
Average maturity: 0.49 yrs (bottom quartile).
Exit load: NIL.
Top sector: Real Estate.
Higher exposure to Corporate (bond sector) vs peer median.
Conservative stance with elevated cash (~87%).
High-quality debt (AAA/AA ~100%).
Largest holding 364 Days Tbill (Md 05/03/2026) (~2.4%).

Below is the key information for UTI Money Market Fund

UTI Money Market Fund Growth
Launch Date	13 Jul 09
NAV (07 Nov 25)	₹3,158.31 ↑ 0.59 (0.02 %)
Net Assets (Cr)	₹19,496 on 31 Aug 25
Category	Debt - Money Market
AMC	UTI Asset Management Company Ltd
Rating	☆☆☆☆
Risk	Low
Expense Ratio	0.25
Sharpe Ratio	3.22
Information Ratio	0
Alpha Ratio	0
Min Investment	10,000
Min SIP Investment	500
Exit Load	NIL
Yield to Maturity	6.22%
Effective Maturity	5 Months 28 Days
Modified Duration	5 Months 27 Days

Growth of 10,000 investment over the years.

Date	Value
31 Oct 20	₹10,000
31 Oct 21	₹10,371
31 Oct 22	₹10,825
31 Oct 23	₹11,632
31 Oct 24	₹12,530
31 Oct 25	₹13,491

UTI Money Market Fund SIP Returns

Total investment amount is ₹180,000
expected amount after 3 Years is ₹200,132.
Net Profit of ₹20,132 Invest Now

Returns for UTI Money Market Fund

Returns up to 1 year are on absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 7 Nov 25

Duration	Returns
1 Month	0.5%
3 Month	1.5%
6 Month	3.4%
1 Year	7.6%
3 Year	7.6%
5 Year	6.2%
10 Year
15 Year
Since launch	7.3%

Historical performance (Yearly) on absolute basis

Year	Returns
2024	7.7%
2023	7.4%
2022	4.9%
2021	3.7%
2020	6%
2019	8%
2018	7.8%
2017	6.7%
2016	7.7%
2015	8.4%

Fund Manager information for UTI Money Market Fund

Name	Since	Tenure
Anurag Mittal	1 Dec 21	3.84 Yr.
Amit Sharma	7 Jul 17	8.24 Yr.

Data below for UTI Money Market Fund as on 31 Aug 25

Asset Allocation

Asset Class	Value
Cash	86.66%
Debt	13.08%
Other	0.26%

Debt Sector Allocation

Sector	Value
Corporate	46.85%
Cash Equivalent	31.16%
Government	21.74%

Credit Quality

Rating	Value
AAA	100%

Top Securities Holdings / Portfolio

Name	Holding	Value	Quantity
364 Days Tbill (Md 05/03/2026) Sovereign Bonds \| -	2%	₹490 Cr	5,000,000,000
364 DTB 19mar2026 Sovereign Bonds \| -	2%	₹489 Cr	5,000,000,000
364 Days Tbill Red 12-03-2026 Sovereign Bonds \| -	1%	₹245 Cr	2,500,000,000
182 Days T-Bill - 19/03/2026 Sovereign Bonds \| -	1%	₹244 Cr	2,500,000,000 ↑ 2,500,000,000
364 DTB 12022026 Sovereign Bonds \| -	1%	₹196 Cr	2,000,000,000
364 DTB 27022026 Sovereign Bonds \| -	1%	₹196 Cr	2,000,000,000
182 Days Tbill Red 28-05-2026 Sovereign Bonds \| -	1%	₹173 Cr	1,750,000,000
HDFC Bank Ltd. Debentures \| -	1%	₹146 Cr	1,500,000,000
Equitas Small Finance Bank Ltd. Debentures \| -	1%	₹146 Cr	1,500,000,000
India (Republic of) - \| -	1%	₹119 Cr	1,206,770,000

2. Franklin India Savings Fund

(Erstwhile Franklin India Savings Plus Fund Retail Option)

Aims to provide income consistent with the prudent risk from a portfolio comprising substantially of floating rate debt instruments, fixed rate debt instruments swapped for floating rate returns, and also fixed rate instruments and money market instruments.

Research Highlights for Franklin India Savings Fund

Bottom quartile AUM (₹3,865 Cr).
Established history (23+ yrs).
Rating: 3★ (lower mid).
Risk profile: Moderately Low.
1Y return: 7.60% (top quartile).
1M return: 0.47% (bottom quartile).
Sharpe: 2.97 (bottom quartile).
Information ratio: 0.00 (top quartile).
Yield to maturity (debt): 6.08% (bottom quartile).
Modified duration: 0.49 yrs (bottom quartile).
Average maturity: 0.52 yrs (bottom quartile).
Exit load: NIL.
Higher exposure to Financial Services vs peer median.
Top bond sector: Cash Equivalent.
Conservative stance with elevated cash (~87%).
High-quality debt (AAA/AA ~100%).
Largest holding 364 Days Tbill (Md 05/03/2026) (~5.1%).

Below is the key information for Franklin India Savings Fund

Franklin India Savings Fund Growth
Launch Date	11 Feb 02
NAV (07 Nov 25)	₹51.3585 ↑ 0.01 (0.02 %)
Net Assets (Cr)	₹3,865 on 31 Aug 25
Category	Debt - Money Market
AMC	Franklin Templeton Asst Mgmt(IND)Pvt Ltd
Rating	☆☆☆
Risk	Moderately Low
Expense Ratio	0.3
Sharpe Ratio	2.97
Information Ratio	0
Alpha Ratio	0
Min Investment	10,000
Min SIP Investment	500
Exit Load	NIL
Yield to Maturity	6.08%
Effective Maturity	6 Months 7 Days
Modified Duration	5 Months 26 Days

Growth of 10,000 investment over the years.

Date	Value
31 Oct 20	₹10,000
31 Oct 21	₹10,352
31 Oct 22	₹10,754
31 Oct 23	₹11,537
31 Oct 24	₹12,416
31 Oct 25	₹13,364

Franklin India Savings Fund SIP Returns

Total investment amount is ₹180,000
expected amount after 3 Years is ₹197,169.
Net Profit of ₹17,169 Invest Now

Returns for Franklin India Savings Fund

Returns up to 1 year are on absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 7 Nov 25

Duration	Returns
1 Month	0.5%
3 Month	1.4%
6 Month	3.3%
1 Year	7.6%
3 Year	7.5%
5 Year	6%
10 Year
15 Year
Since launch	7.1%

Historical performance (Yearly) on absolute basis

Year	Returns
2024	7.7%
2023	7.3%
2022	4.4%
2021	3.6%
2020	6%
2019	8.5%
2018	7.5%
2017	7.2%
2016	8.1%
2015	8.3%

Fund Manager information for Franklin India Savings Fund

Name	Since	Tenure
Rahul Goswami	6 Oct 23	1.99 Yr.
Rohan Maru	10 Oct 24	0.97 Yr.
Chandni Gupta	30 Apr 24	1.42 Yr.

Data below for Franklin India Savings Fund as on 31 Aug 25

Asset Allocation

Asset Class	Value
Cash	87.3%
Debt	12.48%
Other	0.22%

Debt Sector Allocation

Sector	Value
Cash Equivalent	40.04%
Corporate	35.97%
Government	23.77%

Credit Quality

Rating	Value
AAA	100%

Top Securities Holdings / Portfolio

Name	Holding	Value	Quantity
364 Days Tbill (Md 05/03/2026) Sovereign Bonds \| -	5%	₹220 Cr	22,500,000
364 DTB 27112025 Sovereign Bonds \| -	3%	₹149 Cr	15,000,000
364 DTB 06112025 Sovereign Bonds \| -	2%	₹100 Cr	10,000,000 ↑ 10,000,000
Kotak Mahindra Bank Ltd. Debentures \| -	2%	₹73 Cr	1,500
Punjab National Bank Domestic Bonds \| -	1%	₹49 Cr	1,000
364 Days Tbill Red 12-03-2026 Sovereign Bonds \| -	1%	₹49 Cr	5,000,000
Indian Bank Domestic Bonds \| -	1%	₹49 Cr	1,000
HDFC Bank Ltd. Debentures \| -	1%	₹49 Cr	1,000
08.39 RJ UDAY 2026 Domestic Bonds \| -	1%	₹29 Cr	2,860,000
08.43 AS Sdl 2026 Sovereign Bonds \| -	0%	₹21 Cr	2,000,000

3. Nippon India Money Market Fund

(Erstwhile Reliance Liquidity Fund)

The investment objective of the Scheme is to generate optimal returns consistent with moderate levels of risk and high liquidity. Accordingly, investments shall predominantly be made in Debt and Money Market Instruments.

Research Highlights for Nippon India Money Market Fund

Lower mid AUM (₹23,881 Cr).
Established history (20+ yrs).
Rating: 3★ (lower mid).
Risk profile: Low.
1Y return: 7.59% (upper mid).
1M return: 0.47% (upper mid).
Sharpe: 3.09 (upper mid).
Information ratio: 0.00 (upper mid).
Yield to maturity (debt): 6.27% (top quartile).
Modified duration: 0.45 yrs (top quartile).
Average maturity: 0.47 yrs (lower mid).
Exit load: NIL.
Top sector: Financial Services.
Conservative stance with elevated cash (~86%).
High-quality debt (AAA/AA ~100%).
Largest holding 364 DTB 27022026 (~1.0%).

Below is the key information for Nippon India Money Market Fund

Nippon India Money Market Fund Growth
Launch Date	16 Jun 05
NAV (07 Nov 25)	₹4,250.32 ↑ 0.71 (0.02 %)
Net Assets (Cr)	₹23,881 on 31 Aug 25
Category	Debt - Money Market
AMC	Nippon Life Asset Management Ltd.
Rating	☆☆☆
Risk	Low
Expense Ratio	0.39
Sharpe Ratio	3.09
Information Ratio	0
Alpha Ratio	0
Min Investment	5,000
Min SIP Investment	100
Exit Load	NIL
Yield to Maturity	6.27%
Effective Maturity	5 Months 21 Days
Modified Duration	5 Months 11 Days

Growth of 10,000 investment over the years.

Date	Value
31 Oct 20	₹10,000
31 Oct 21	₹10,373
31 Oct 22	₹10,838
31 Oct 23	₹11,639
31 Oct 24	₹12,540
31 Oct 25	₹13,496

Nippon India Money Market Fund SIP Returns

Total investment amount is ₹180,000
expected amount after 3 Years is ₹200,132.
Net Profit of ₹20,132 Invest Now

Returns for Nippon India Money Market Fund

Returns up to 1 year are on absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 7 Nov 25

Duration	Returns
1 Month	0.5%
3 Month	1.5%
6 Month	3.3%
1 Year	7.6%
3 Year	7.6%
5 Year	6.2%
10 Year
15 Year
Since launch	7.4%

Historical performance (Yearly) on absolute basis

Year	Returns
2024	7.8%
2023	7.4%
2022	5%
2021	3.8%
2020	6%
2019	8.1%
2018	7.9%
2017	6.6%
2016	7.6%
2015	8.3%

Fund Manager information for Nippon India Money Market Fund

Name	Since	Tenure
Kinjal Desai	16 Jul 18	7.22 Yr.
Vikash Agarwal	14 Sep 24	1.05 Yr.

Data below for Nippon India Money Market Fund as on 31 Aug 25

Asset Allocation

Asset Class	Value
Cash	86.3%
Debt	13.46%
Other	0.24%

Debt Sector Allocation

Sector	Value

Credit Quality

Rating	Value
AAA	100%

Top Securities Holdings / Portfolio

Name	Holding	Value	Quantity
364 DTB 27022026 Sovereign Bonds \| -	1%	₹245 Cr	25,000,000
364 Days Tbill (Md 05/03/2026) Sovereign Bonds \| -	1%	₹245 Cr	25,000,000
07.36 UK Gs 2033 Sovereign Bonds \| -	1%	₹230 Cr	22,783,400
Indian Bank Domestic Bonds \| -	1%	₹219 Cr	4,500
364 Days Tbill Red 12-03-2026 Sovereign Bonds \| -	1%	₹171 Cr	17,500,000
182 Days Tbill Red 29-01-2026 Sovereign Bonds \| -	1%	₹162 Cr	16,500,000
AU Small Finance Bank Ltd. Debentures \| -	1%	₹145 Cr	3,000
08.36 MH Sdl 2026 Sovereign Bonds \| -	1%	₹136 Cr	13,500,000
08.69 Tn SDL 2026 Sovereign Bonds \| -	1%	₹126 Cr	12,500,000
08.69 KL Sdl 2026 Sovereign Bonds \| -	0%	₹101 Cr	10,000,000

4. ICICI Prudential Money Market Fund

The objective of the Plan will be to seek to provide reasonable returns, commensurate with low risk while providing a high level of liquidity, through investments made primarily in money market and debt securities.

Research Highlights for ICICI Prudential Money Market Fund

Top quartile AUM (₹37,137 Cr).
Established history (19+ yrs).
Rating: 4★ (upper mid).
Risk profile: Low.
1Y return: 7.59% (upper mid).
1M return: 0.47% (lower mid).
Sharpe: 3.02 (lower mid).
Information ratio: 0.00 (upper mid).
Yield to maturity (debt): 6.17% (bottom quartile).
Modified duration: 0.42 yrs (top quartile).
Average maturity: 0.45 yrs (top quartile).
Exit load: NIL.
Top sector: Financial Services.
Top bond sector: Corporate.
Conservative stance with elevated cash (~84%).
High-quality debt (AAA/AA ~100%).
Largest holding 182 Days Treasury Bills (~6.6%).

Below is the key information for ICICI Prudential Money Market Fund

ICICI Prudential Money Market Fund Growth
Launch Date	9 Mar 06
NAV (07 Nov 25)	₹388.558 ↑ 0.07 (0.02 %)
Net Assets (Cr)	₹37,137 on 15 Sep 25
Category	Debt - Money Market
AMC	ICICI Prudential Asset Management Company Limited
Rating	☆☆☆☆
Risk	Low
Expense Ratio	0.32
Sharpe Ratio	3.02
Information Ratio	0
Alpha Ratio	0
Min Investment	500
Min SIP Investment	100
Exit Load	NIL
Yield to Maturity	6.17%
Effective Maturity	5 Months 11 Days
Modified Duration	5 Months 1 Day

Growth of 10,000 investment over the years.

Date	Value
31 Oct 20	₹10,000
31 Oct 21	₹10,364
31 Oct 22	₹10,801
31 Oct 23	₹11,596
31 Oct 24	₹12,490
31 Oct 25	₹13,443

ICICI Prudential Money Market Fund SIP Returns

Total investment amount is ₹180,000
expected amount after 3 Years is ₹200,132.
Net Profit of ₹20,132 Invest Now

Returns for ICICI Prudential Money Market Fund

Returns up to 1 year are on absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 7 Nov 25

Duration	Returns
1 Month	0.5%
3 Month	1.4%
6 Month	3.3%
1 Year	7.6%
3 Year	7.6%
5 Year	6.1%
10 Year
15 Year
Since launch	7.1%

Historical performance (Yearly) on absolute basis

Year	Returns
2024	7.7%
2023	7.4%
2022	4.7%
2021	3.7%
2020	6.2%
2019	7.9%
2018	7.7%
2017	6.7%
2016	7.7%
2015	8.3%

Fund Manager information for ICICI Prudential Money Market Fund

Name	Since	Tenure
Manish Banthia	12 Jun 23	2.31 Yr.
Nikhil Kabra	3 Aug 16	9.17 Yr.

Data below for ICICI Prudential Money Market Fund as on 15 Sep 25

Asset Allocation

Asset Class	Value
Cash	83.96%
Debt	15.8%
Other	0.24%

Debt Sector Allocation

Sector	Value
Corporate	37.9%
Cash Equivalent	36.81%
Government	25.06%

Credit Quality

Rating	Value
AAA	100%

Top Securities Holdings / Portfolio

Name	Holding	Value	Quantity
182 Days Treasury Bills Sovereign Bonds \| -	7%	₹2,282 Cr	233,500,000 ↑ 233,500,000
364 Days Tbill Red 12-03-2026 Sovereign Bonds \| -	4%	₹1,287 Cr	131,500,000
Bank of Baroda Debentures \| -	2%	₹587 Cr	12,000 ↑ 3,000
364 Days Tbill (Md 05/03/2026) Sovereign Bonds \| -	1%	₹343 Cr	35,000,000
HDFC Bank Ltd. Debentures \| -	1%	₹195 Cr	4,000
Indian Bank Domestic Bonds \| -	0%	₹146 Cr	3,000
National Bank for Agriculture and Rural Development Domestic Bonds \| -	0%	₹146 Cr	3,000
08.38 OD Sdl 2026 Sovereign Bonds \| -	0%	₹126 Cr	12,500,000
07.22 GJ Sdl 2028 Sovereign Bonds \| -	0%	₹110 Cr	10,943,400
08.40 Wb SDL 2026 Sovereign Bonds \| -	0%	₹96 Cr	9,500,000

5. Tata Money Market Fund

(Erstwhile Tata Liquid Fund)

To create a highly liquid portfolio of good quality debt as well as money market instruments so as to provide reasonable returns and high liquidity to the unitholders.

Research Highlights for Tata Money Market Fund

Highest AUM (₹38,965 Cr).
Established history (22+ yrs).
Rating: 3★ (bottom quartile).
Risk profile: Low.
1Y return: 7.58% (lower mid).
1M return: 0.47% (lower mid).
Sharpe: 3.08 (upper mid).
Information ratio: 0.00 (lower mid).
Yield to maturity (debt): 6.22% (lower mid).
Modified duration: 0.45 yrs (upper mid).
Average maturity: 0.45 yrs (upper mid).
Exit load: NIL.
Higher exposure to Financial Services vs peer median.
Higher exposure to Cash Equivalent (bond sector) vs peer median.
Conservative stance with elevated cash (~87%).
High-quality debt (AAA/AA ~100%).
Largest holding 5.63% Govt Stock 2026 (~5.7%).

Below is the key information for Tata Money Market Fund

Tata Money Market Fund Growth
Launch Date	22 May 03
NAV (07 Nov 25)	₹4,834.67 ↑ 0.83 (0.02 %)
Net Assets (Cr)	₹38,965 on 31 Aug 25
Category	Debt - Money Market
AMC	Tata Asset Management Limited
Rating	☆☆☆
Risk	Low
Expense Ratio	0.44
Sharpe Ratio	3.08
Information Ratio	0
Alpha Ratio	0
Min Investment	5,000
Min SIP Investment	500
Exit Load	NIL
Yield to Maturity	6.22%
Effective Maturity	5 Months 12 Days
Modified Duration	5 Months 12 Days

Growth of 10,000 investment over the years.

Date	Value
31 Oct 20	₹10,000
31 Oct 21	₹10,384
31 Oct 22	₹10,830
31 Oct 23	₹11,631
31 Oct 24	₹12,528
31 Oct 25	₹13,481

Tata Money Market Fund SIP Returns

Total investment amount is ₹180,000
expected amount after 3 Years is ₹200,132.
Net Profit of ₹20,132 Invest Now

Returns for Tata Money Market Fund

Returns up to 1 year are on absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 7 Nov 25

Duration	Returns
1 Month	0.5%
3 Month	1.5%
6 Month	3.3%
1 Year	7.6%
3 Year	7.6%
5 Year	6.2%
10 Year
15 Year
Since launch	6.8%

Historical performance (Yearly) on absolute basis

Year	Returns
2024	7.7%
2023	7.4%
2022	4.8%
2021	3.9%
2020	6.4%
2019	8.1%
2018	-0.1%
2017	6.7%
2016	7.6%
2015	8.3%

Fund Manager information for Tata Money Market Fund

Name	Since	Tenure
Amit Somani	16 Oct 13	11.97 Yr.

Data below for Tata Money Market Fund as on 31 Aug 25

Asset Allocation

Asset Class	Value
Cash	87.36%
Debt	12.4%
Other	0.23%

Debt Sector Allocation

Sector	Value
Cash Equivalent	43.97%
Corporate	35.92%
Government	19.87%

Credit Quality

Rating	Value
AAA	100%

Top Securities Holdings / Portfolio

Name	Holding	Value	Quantity
5.63% Govt Stock 2026 Sovereign Bonds \| -	6%	₹2,256 Cr	225,500,000 ↑ 44,000,000
National Bank for Agriculture and Rural Development Domestic Bonds \| -	1%	₹492 Cr	10,000
364 DTB 19mar2026 Sovereign Bonds \| -	1%	₹489 Cr	50,000,000 ↓ -18,000,000
08.30 RJ Sdl 2026 Sovereign Bonds \| -	1%	₹428 Cr	42,500,000
182 Days Tbill Red 28-05-2026 Sovereign Bonds \| -	1%	₹381 Cr	38,500,000 ↓ -7,500,000
India (Republic of) - \| -	1%	₹371 Cr	38,000,000
7.59% Govt Stock 2026 Sovereign Bonds \| -	1%	₹251 Cr	25,000,000 ↓ -50,000,000
HDFC Bank Ltd. Debentures \| -	1%	₹219 Cr	4,500
364 DTB 12022026 Sovereign Bonds \| -	0%	₹196 Cr	20,000,000
** Treasury Bill 182 Days (19/02/2026) Sovereign Bonds \| -	0%	₹196 Cr	20,000,000

6. Aditya Birla Sun Life Money Manager Fund

(Erstwhile Aditya Birla Sun Life Floating Rate Fund - Short Term)

The primary objective of the schemes is to generate regular income through investment in a portfolio comprising substantially of floating rate debt / money market instruments. The schemes may invest a portion of its net assets in fixed rate debt securities and money market instruments.

Research Highlights for Aditya Birla Sun Life Money Manager Fund

Lower mid AUM (₹27,665 Cr).
Established history (20+ yrs).
Top rated.
Risk profile: Low.
1Y return: 7.57% (lower mid).
1M return: 0.48% (top quartile).
Sharpe: 3.32 (top quartile).
Information ratio: 0.00 (lower mid).
Yield to maturity (debt): 6.24% (top quartile).
Modified duration: 0.45 yrs (lower mid).
Average maturity: 0.45 yrs (top quartile).
Exit load: NIL.
Top sector: Financial Services.
Higher exposure to Cash Equivalent (bond sector) vs peer median.
Conservative stance with elevated cash (~90%).
High-quality debt (AAA/AA ~100%).
Largest holding 5.63% Govt Stock 2026 (~2.6%).

Below is the key information for Aditya Birla Sun Life Money Manager Fund

Aditya Birla Sun Life Money Manager Fund Growth
Launch Date	13 Oct 05
NAV (07 Nov 25)	₹378.913 ↑ 0.07 (0.02 %)
Net Assets (Cr)	₹27,665 on 31 Aug 25
Category	Debt - Money Market
AMC	Birla Sun Life Asset Management Co Ltd
Rating	☆☆☆☆☆
Risk	Low
Expense Ratio	0.35
Sharpe Ratio	3.32
Information Ratio	0
Alpha Ratio	0
Min Investment	1,000
Min SIP Investment	1,000
Exit Load	NIL
Yield to Maturity	6.24%
Effective Maturity	5 Months 12 Days
Modified Duration	5 Months 12 Days

Growth of 10,000 investment over the years.

Date	Value
31 Oct 20	₹10,000
31 Oct 21	₹10,379
31 Oct 22	₹10,828
31 Oct 23	₹11,637
31 Oct 24	₹12,539
31 Oct 25	₹13,491

Aditya Birla Sun Life Money Manager Fund SIP Returns

Total investment amount is ₹180,000
expected amount after 3 Years is ₹200,132.
Net Profit of ₹20,132 Invest Now

Returns for Aditya Birla Sun Life Money Manager Fund

Returns up to 1 year are on absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 7 Nov 25

Duration	Returns
1 Month	0.5%
3 Month	1.5%
6 Month	3.4%
1 Year	7.6%
3 Year	7.6%
5 Year	6.2%
10 Year
15 Year
Since launch	6.9%

Historical performance (Yearly) on absolute basis

Year	Returns
2024	7.8%
2023	7.4%
2022	4.8%
2021	3.8%
2020	6.6%
2019	8%
2018	7.9%
2017	6.8%
2016	7.7%
2015	8.4%

Fund Manager information for Aditya Birla Sun Life Money Manager Fund

Name	Since	Tenure
Kaustubh Gupta	15 Jul 11	14.22 Yr.
Anuj Jain	22 Mar 21	4.53 Yr.
Mohit Sharma	1 Apr 17	8.51 Yr.

Data below for Aditya Birla Sun Life Money Manager Fund as on 31 Aug 25

Asset Allocation

Asset Class	Value
Cash	89.62%
Debt	10.13%
Other	0.25%

Debt Sector Allocation

Sector	Value
Cash Equivalent	52.97%
Corporate	33.57%
Government	13.21%

Credit Quality

Rating	Value
AAA	100%

Top Securities Holdings / Portfolio

Name	Holding	Value	Quantity
5.63% Govt Stock 2026 Sovereign Bonds \| -	3%	₹765 Cr	76,500,000 ↑ 75,000,000
182 DTB 19Feb2026 Sovereign Bonds \| -	2%	₹491 Cr	50,000,000 ↑ 50,000,000
Power Finance Corp Ltd. Debentures \| -	1%	₹291 Cr	6,000 ↑ 6,000
India (Republic of) - \| -	1%	₹247 Cr	25,000,000
Bank of Baroda Debentures \| -	1%	₹246 Cr	5,000
7.59% Govt Stock 2026 Sovereign Bonds \| -	1%	₹241 Cr	24,000,000
182 Days T-Bill - 27feb2026 Sovereign Bonds \| -	1%	₹221 Cr	22,500,000
364 DAYS T-BILL - 10SEP2026 Sovereign Bonds \| -	1%	₹214 Cr	22,500,000 ↑ 22,500,000
Gs CG 12/12/2025 - (Strips) Tb Sovereign Bonds \| -	1%	₹188 Cr	19,009,500
08.16 KA Sdl 2025 Sovereign Bonds \| -	1%	₹180 Cr	18,000,000

7. Kotak Money Market Scheme

(Erstwhile Kotak Floater Short Term Fund)

To reduce the interest rate risk associated with investments in fixed rate instruments by investing predominantly in floating rate securities, money market instruments and using appropriate derivatives.

Research Highlights for Kotak Money Market Scheme

Upper mid AUM (₹35,644 Cr).
Established history (22+ yrs).
Rating: 4★ (upper mid).
Risk profile: Low.
1Y return: 7.54% (bottom quartile).
1M return: 0.47% (upper mid).
Sharpe: 3.03 (lower mid).
Information ratio: 0.00 (bottom quartile).
Yield to maturity (debt): 6.23% (upper mid).
Modified duration: 0.46 yrs (lower mid).
Average maturity: 0.47 yrs (upper mid).
Exit load: NIL.
Top sector: Financial Services.
Higher exposure to Corporate (bond sector) vs peer median.
Conservative stance with elevated cash (~81%).
High-quality debt (AAA/AA ~100%).
Largest holding 364 Days Tbill Red 28-05-2026 (~1.9%).

Below is the key information for Kotak Money Market Scheme

Kotak Money Market Scheme Growth
Launch Date	14 Jul 03
NAV (07 Nov 25)	₹4,597.59 ↑ 0.87 (0.02 %)
Net Assets (Cr)	₹35,644 on 31 Aug 25
Category	Debt - Money Market
AMC	Kotak Mahindra Asset Management Co Ltd
Rating	☆☆☆☆
Risk	Low
Expense Ratio	0.36
Sharpe Ratio	3.03
Information Ratio	0
Alpha Ratio	0
Min Investment	5,000
Min SIP Investment	1,000
Exit Load	NIL
Yield to Maturity	6.23%
Effective Maturity	5 Months 19 Days
Modified Duration	5 Months 16 Days

Growth of 10,000 investment over the years.

Date	Value
31 Oct 20	₹10,000
31 Oct 21	₹10,363
31 Oct 22	₹10,813
31 Oct 23	₹11,606
31 Oct 24	₹12,500
31 Oct 25	₹13,446

Kotak Money Market Scheme SIP Returns

Total investment amount is ₹180,000
expected amount after 3 Years is ₹200,132.
Net Profit of ₹20,132 Invest Now

Returns for Kotak Money Market Scheme

Returns up to 1 year are on absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 7 Nov 25

Duration	Returns
1 Month	0.5%
3 Month	1.4%
6 Month	3.3%
1 Year	7.5%
3 Year	7.5%
5 Year	6.1%
10 Year
15 Year
Since launch	7.1%

Historical performance (Yearly) on absolute basis

Year	Returns
2024	7.7%
2023	7.3%
2022	4.9%
2021	3.7%
2020	5.7%
2019	8%
2018	7.7%
2017	6.7%
2016	7.7%
2015	8.4%

Fund Manager information for Kotak Money Market Scheme

Name	Since	Tenure
Deepak Agrawal	1 Nov 06	18.93 Yr.
Manu Sharma	1 Nov 22	2.92 Yr.

Data below for Kotak Money Market Scheme as on 31 Aug 25

Asset Allocation

Asset Class	Value
Cash	80.54%
Debt	19.21%
Other	0.25%

Debt Sector Allocation

Sector	Value
Corporate	43.42%
Cash Equivalent	33.12%
Government	23.2%

Credit Quality

Rating	Value
AAA	100%

Top Securities Holdings / Portfolio

Name	Holding	Value	Quantity
364 Days Tbill Red 28-05-2026 Sovereign Bonds \| -	2%	₹654 Cr	67,500,000
364 Days Tbill Red 05-02-2026 Sovereign Bonds \| -	2%	₹639 Cr	65,000,000
182 DAYS TREASURY BILL 19/03/2026 TB Sovereign Bonds \| -	2%	₹586 Cr	60,000,000 ↑ 60,000,000
5.15% Govt Stock 2025 Sovereign Bonds \| -	1%	₹500 Cr	50,000,000
364 DTB 29012026 Sovereign Bonds \| -	1%	₹492 Cr	50,000,000
Bank of Baroda Debentures \| -	1%	₹489 Cr	50,000
National Bank for Agriculture and Rural Development Domestic Bonds \| -	1%	₹487 Cr	50,000
Federal Bank Ltd. Debentures \| -	1%	₹481 Cr	50,000
UCO Bank Domestic Bonds \| -	1%	₹337 Cr	35,000
364 DTB 12022026 Sovereign Bonds \| -	1%	₹295 Cr	30,000,000

8. HDFC Money Market Fund

(Erstwhile HDFC Cash Management Fund - Savings Plan)

To generate optimal returns while maintaining safety and high liquidity.

Research Highlights for HDFC Money Market Fund

Upper mid AUM (₹36,376 Cr).
Oldest track record among peers (25 yrs).
Rating: 3★ (bottom quartile).
Risk profile: Low.
1Y return: 7.52% (bottom quartile).
1M return: 0.47% (bottom quartile).
Sharpe: 2.95 (bottom quartile).
Information ratio: 0.00 (bottom quartile).
Yield to maturity (debt): 6.24% (upper mid).
Modified duration: 0.45 yrs (upper mid).
Average maturity: 0.48 yrs (lower mid).
Exit load: NIL.
Top bond sector: Corporate.
Conservative stance with elevated cash (~85%).
High-quality debt (AAA/AA ~100%).
Largest holding Punjab National Bank (~1.8%).

Below is the key information for HDFC Money Market Fund

HDFC Money Market Fund Growth
Launch Date	18 Nov 99
NAV (07 Nov 25)	₹5,851.24 ↑ 1.05 (0.02 %)
Net Assets (Cr)	₹36,376 on 31 Aug 25
Category	Debt - Money Market
AMC	HDFC Asset Management Company Limited
Rating	☆☆☆
Risk	Low
Expense Ratio	0.4
Sharpe Ratio	2.95
Information Ratio	0
Alpha Ratio	0
Min Investment	5,000
Min SIP Investment	300
Exit Load	NIL
Yield to Maturity	6.24%
Effective Maturity	5 Months 22 Days
Modified Duration	5 Months 11 Days

Growth of 10,000 investment over the years.

Date	Value
31 Oct 20	₹10,000
31 Oct 21	₹10,372
31 Oct 22	₹10,810
31 Oct 23	₹11,599
31 Oct 24	₹12,487
31 Oct 25	₹13,430

HDFC Money Market Fund SIP Returns

Total investment amount is ₹180,000
expected amount after 3 Years is ₹200,132.
Net Profit of ₹20,132 Invest Now

Returns for HDFC Money Market Fund

Returns up to 1 year are on absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 7 Nov 25

Duration	Returns
1 Month	0.5%
3 Month	1.4%
6 Month	3.3%
1 Year	7.5%
3 Year	7.5%
5 Year	6.1%
10 Year
15 Year
Since launch	7%

Historical performance (Yearly) on absolute basis

Year	Returns
2024	7.7%
2023	7.3%
2022	4.7%
2021	3.8%
2020	6.5%
2019	8.1%
2018	7.4%
2017	6.5%
2016	7.5%
2015	8.3%

Fund Manager information for HDFC Money Market Fund

Name	Since	Tenure
Praveen Jain	30 Aug 24	1.09 Yr.
Dhruv Muchhal	22 Jun 23	2.28 Yr.

Data below for HDFC Money Market Fund as on 31 Aug 25

Asset Allocation

Asset Class	Value
Cash	84.79%
Debt	14.97%
Other	0.24%

Debt Sector Allocation

Sector	Value
Corporate	42.64%
Cash Equivalent	35.3%
Government	21.81%

Credit Quality

Rating	Value
AAA	100%

Top Securities Holdings / Portfolio

Name	Holding	Value	Quantity
Punjab National Bank Domestic Bonds \| -	2%	₹683 Cr	14,000
364 Days Tbill (Md 05/03/2026) Sovereign Bonds \| -	1%	₹490 Cr	50,000,000
07.35 GJ Sdl 2026 Sovereign Bonds \| -	1%	₹484 Cr	48,000,000
IDFC First Bank Ltd. Debentures \| -	1%	₹480 Cr	10,000
364 Days Tbill Red 12-03-2026 Sovereign Bonds \| -	1%	₹342 Cr	35,000,000
364 DTB 12022026 Sovereign Bonds \| -	1%	₹295 Cr	30,000,000
364 Days Tbill Mat 200226 Sovereign Bonds \| -	1%	₹294 Cr	30,000,000
364 Days Tbill Red 05-02-2026 Sovereign Bonds \| -	1%	₹246 Cr	25,000,000
08.36 MH Sdl 2026 Sovereign Bonds \| -	1%	₹201 Cr	20,000,000
6.99% Govt Stock 2026 Sovereign Bonds \| -	1%	₹201 Cr	20,000,000

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Disclaimer:
All efforts have been made to ensure the information provided here is accurate. However, no guarantees are made regarding correctness of data. Please verify with scheme information document before making any investment.