Table of Contents
Money Market Mutual Funds
What are Money Market Funds?
A money Market fund (MMF) is a type of fixed Income mutual fund that invests in debt securities. But, before we start with money market funds, it's important to understand what is a fixed income instrument? Well, as the name denotes, a fixed income instrument is something that generates a specified amount of income over a certain period. The investor is given a fixed claim on the assets held by the issuer, fixed income instruments are considered low-risk and low-yield investments.
Essentially, fixed income instruments are nothing, but a way of borrowing funds (where the borrowing is done by the issuer).
Fixed Income Vs Stocks
Well for starters fixed income gives economic rights to the holder, which includes the right to receive interest payments and the return of all or part of Capital invested at a given date. In contrast, the shareholder (stock owner) receives dividends from the issuer, but the company is not bound by any law to pay dividends. Also, another important difference is that the fixed income holder is a creditor of the company that issues the security, while a shareholder is a partner, owning a part of the capital stock. Here it’s important to understand that if the company goes bust, the creditors (bondholders) have priority over shareholders (equity holders).
Types of Fixed Income Instruments
There are different fixed income instruments that fall under money market instruments, to name some of them:
Certificates of Deposits (CDs)
Time deposits like term deposits are commonly offered to consumers by banks (scheduled commercial banks) & all India financial institutions. The difference between this and a term deposit in a Bank is that CDs can’t be withdrawn.
Commercial Paper (CPs)
Commercial papers are usually known as promissory notes which are unsecured and are generally issued by companies and financial institutions, at a discounted rate from their Face Value. The fixed maturity for commercial papers is 1 to 270 days. The purposes for which they are issued are - for inventory financing, accounts Receivables, and settling short-term liabilities or loans.
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Treasury Bills (T-Bills)
Treasury bills were first issued by the Indian government in 1917. Treasury bills are short-term financial instruments that are issued by the Central Bank of the country. It is one of the safest money market instruments as it is void of market risks (since the risk is sovereign or in this case the Government of India), though the return on investments is not that huge. Treasury bills are circulated by the primary as well as the secondary markets. The maturity periods for treasury bills are respectively 3-month, 6-month, and 1-year.
There are lots of other fixed income instruments such as repurchase agreements (repos), asset-backed securities etc., that also exist in the Indian fixed income market, but the above are the more common ones.
Why to Invest in Money Market Mutual 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.
Money Market Instruments & Bonds: The Difference
Bonds have a maturity period of more than one year which differentiates it from other debt securities like commercial papers, treasury bills and other money market instruments which typically have a maturity period of less than one year.
What is Money Market?
Money market generally refers to a section of the financial market where financial instruments with smaller maturities (less than a year) and high liquidity are traded. India has a very active money market, where a host of instruments are traded. Here you have Mutual Fund companies, government banks and various other large domestic institutions participating. The money market has become a component of the financial market for buying and selling of securities of short-term duration, such as commercial papers and treasury bills.
Money Market Rates
The money market rates are the interest rates offered by short-term money market instruments. These instruments have a maturity ranging from 1 day to one year. The money market rates vary over many complex instruments such as treasury bills, Call money, Commercial Paper (CP), certificates of deposits (CDs), repos, etc. The Reserve Bank of India (RBI) is largely the governing authority over the money markets.
An example of the money market rates of various instruments as given on the RBI site as of 28th Feb 2017 is below for reference.
| Volume (One Leg) | Weighted Average Rate | Range | |
|---|---|---|---|
| A. Overnight Segment (I+II+III+IV) | 4,00,659.36 | 3.25 | 0.01-5.30 |
| I. Call Money | 12,671.70 | 3.23 | 1.90-3.50 |
| II. Triparty Repo | 2,79,349.70 | 3.26 | 2.00-3.45 |
| III. Market Repo | 1,07,582.96 | 3.25 | 0.01-3.50 |
| IV. Repo in Corporate Bond | 1,055.00 | 3.56 | 3.40-5.30 |
| B. Term Segment | |||
| I. Notice Money** | 45.00 | 2.97 | 2.65-3.50 |
| II. Term Money@@ | 311.00 | - | 3.15-3.45 |
| III. Triparty Repo | 1,493.00 | 3.30 | 3.30-3.35 |
| IV. Market Repo | 5,969.10 | 3.37 | 0.01-3.60 |
| V. Repo in Corporate Bond | 0.00 | - | - |
Source: Money Market Operations, RBI Date- Date: 30 Mar 2021
Mutual Fund Companies Offering Money Market Funds
As we have learnt about various types of instruments above, it’s equally important to know how an investor could invest in money market funds. There are 44 AMCs (Asset Managment Companies) in India, most of them Offering money market funds (mainly Liquid Funds and ultra-short funds for investors). Investors can also invest via distributors like banks and brokers. Investing in money market funds requires one to follow the respective procedure and the relevant applications. The terms & conditions of debt mutual funds may vary, therefore, it’s important to get an overall knowledge and then choose the one that meets your needs. Moreover, before investing into any money market mutual funds carefully consider its investment objectives, risks, returns, and expenses.
Factors to consider
Here are some important aspects that you must consider before investing in money market funds in India:
a. Risks and Returns
Money Market Funds are Debt fund and hence carry all the risks applicable to debt funds like interest rate risk and credit risk. Additionally, the fund manager might invest in instruments with a slightly higher risk component to increase returns. Usually, money market funds tend to offer better returns than a regular Savings Account. The Net Asset Value or NAV of these funds changes with a change in the interest rate regime.
b. Expense Ratio
Since the returns are not very high, the expense ratio plays an important role in determining your Earnings from a money market fund. Expense Ratio is a small percentage of the total assets of the fund charged by the fund house towards fund management services.
Ideally, you should look for funds with a lower expense ratio to maximize your returns.
c. Invest according to your Investment Plan
Usually, money market funds are recommended to investors with an investment horizon of 90-365 days. These schemes can help you diversify your portfolio and help invest surplus cash while maintaining liquidity. Ensure that you invest according to your Investment plan.
d. Taxation
In the case of Money Market Funds, the taxation rules are as follows:
Capital Gains Tax
If you hold the units of the scheme for a period of up to three years, then the Capital Gains earned by you are called short-term capital gains or STCG. STCG is added to your Taxable Income and taxed as per the applicable income tax slab.
If you hold the units of the scheme for more than three years, then the capital gains earned by you are called long-term capital gains or LTCG. It is taxed at 20% with indexation benefits.
Best Money Market Funds to Invest in FY 21 - 22
Some of the best money market funds in India are as follows-
Fund NAV Net Assets (Cr) 3 MO (%) 6 MO (%) 1 YR (%) 3 YR (%) 2020 (%) Debt Yield (YTM) Mod. Duration Eff. Maturity Tata Money Market Fund Growth ₹3,688.97
↑ 0.53 ₹3,864 1 2.1 4.2 4.1 6.4 4.09% 6M 18D 6M 20D Aditya Birla Sun Life Money Manager Fund Growth ₹288.657
↑ 0.03 ₹13,622 1 2.1 4.1 6.8 6.6 3.98% 4M 20D 4M 20D Nippon India Money Market Fund Growth ₹3,235.7
↑ 0.43 ₹7,318 1 2 4 6.6 6 3.88% 5M 6D 5M 21D UTI Money Market Fund Growth ₹2,403.98
↑ 0.28 ₹6,636 0.9 2 4 6.6 6 3.89% 5M 12D 5M 13D HDFC Money Market Fund Growth ₹4,475.07
↑ 0.55 ₹13,854 1 2 4 6.7 6.5 3.96% 5M 3D 5M 4D Note: Returns up to 1 year are on absolute basis & more than 1 year are on CAGR basis. as on 27 Jul 21
(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. Tata Money Market Fund is a Debt - Money Market fund was launched on 22 May 03. It is a fund with Low risk and has given a Below is the key information for Tata Money Market Fund Returns up to 1 year are on (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. Aditya Birla Sun Life Money Manager Fund is a Debt - Money Market fund was launched on 13 Oct 05. It is a fund with Low risk and has given a Below is the key information for Aditya Birla Sun Life Money Manager Fund Returns up to 1 year are on (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. Nippon India Money Market Fund is a Debt - Money Market fund was launched on 16 Jun 05. It is a fund with Low risk and has given a Below is the key information for Nippon India Money Market Fund Returns up to 1 year are on 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. UTI Money Market Fund is a Debt - Money Market fund was launched on 13 Jul 09. It is a fund with Low risk and has given a Below is the key information for UTI Money Market Fund Returns up to 1 year are on (Erstwhile HDFC Cash Management Fund - Savings Plan) To generate optimal returns while maintaining safety and
high liquidity. HDFC Money Market Fund is a Debt - Money Market fund was launched on 18 Nov 99. It is a fund with Low risk and has given a Below is the key information for HDFC Money Market Fund Returns up to 1 year are on 1. Tata Money Market Fund
CAGR/Annualized return of 6.8% since its launch. Ranked 30 in Money Market category. Return for 2020 was 6.4% , 2019 was 8.1% and 2018 was -0.1% . Tata Money Market Fund
Growth Launch Date 22 May 03 NAV (27 Jul 21) ₹3,688.97 ↑ 0.53 (0.01 %) Net Assets (Cr) ₹3,864 on 30 Jun 21 Category Debt - Money Market AMC Tata Asset Management Limited Rating ☆☆☆ Risk Low Expense Ratio 0.2 Sharpe Ratio 2.55 Information Ratio 0 Alpha Ratio 0 Min Investment 5,000 Min SIP Investment 500 Exit Load NIL Yield to Maturity 4.09% Effective Maturity 6 Months 20 Days Modified Duration 6 Months 18 Days Growth of 10,000 investment over the years.
Date Value 30 Jun 16 ₹10,000 30 Jun 17 ₹10,685 30 Jun 18 ₹11,436 30 Jun 19 ₹11,495 30 Jun 20 ₹12,390 30 Jun 21 ₹12,927 Returns for Tata Money Market Fund
absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 27 Jul 21 Duration Returns 1 Month 0.4% 3 Month 1% 6 Month 2.1% 1 Year 4.2% 3 Year 4.1% 5 Year 5.2% 10 Year 15 Year Since launch 6.8% Historical performance (Yearly) on absolute basis
Year Returns 2020 6.4% 2019 8.1% 2018 -0.1% 2017 6.7% 2016 7.6% 2015 8.3% 2014 9% 2013 9.2% 2012 9.7% 2011 9% Fund Manager information for Tata Money Market Fund
Name Since Tenure Amit Somani 16 Oct 13 7.71 Yr. Data below for Tata Money Market Fund as on 30 Jun 21
Asset Allocation
Asset Class Value Cash 70.2% Debt 29.8% Debt Sector Allocation
Sector Value Cash Equivalent 40.57% Corporate 30.91% Government 28.52% Credit Quality
Rating Value AAA 100% Top Securities Holdings / Portfolio
Name Holding Value Quantity 8.79% Govt Stock 2021
Sovereign Bonds | -11% ₹433 Cr 42,500,000
↑ 42,500,000 8.15% Govt Stock 2022
Sovereign Bonds | -6% ₹233 Cr 22,500,000
↑ 22,500,000 8.20% Govt Stock 2022
Sovereign Bonds | -6% ₹232 Cr 22,574,700
↑ 22,574,700 364 DTB 13012022
Sovereign Bonds | -2% ₹93 Cr 9,500,000
↑ 9,500,000 Godrej Properties
Debentures | -1% ₹49 Cr 1,000 182 DTB 16122021
Sovereign Bonds | -1% ₹49 Cr 5,000,000
↑ 5,000,000 182 DTB 30122021
Sovereign Bonds | -1% ₹49 Cr 5,000,000
↑ 5,000,000 182 DTB 29092021
Sovereign Bonds | -1% ₹20 Cr 2,000,000
↑ 2,000,000 9.24% Rajasthan SDL 2022
Sovereign Bonds | -0% ₹7 Cr 681,400
↑ 681,400 8.71% Andhra SDL 2022
Sovereign Bonds | -0% ₹3 Cr 300,000
↑ 300,000 2. Aditya Birla Sun Life Money Manager Fund
CAGR/Annualized return of 6.9% since its launch. Ranked 7 in Money Market category. Return for 2020 was 6.6% , 2019 was 8% and 2018 was 7.9% . Aditya Birla Sun Life Money Manager Fund
Growth Launch Date 13 Oct 05 NAV (27 Jul 21) ₹288.657 ↑ 0.03 (0.01 %) Net Assets (Cr) ₹13,622 on 30 Jun 21 Category Debt - Money Market AMC Birla Sun Life Asset Management Co Ltd Rating ☆☆☆☆☆ Risk Low Expense Ratio 0.28 Sharpe Ratio 2.26 Information Ratio 0 Alpha Ratio 0 Min Investment 1,000 Min SIP Investment 1,000 Exit Load NIL Yield to Maturity 3.98% Effective Maturity 4 Months 20 Days Modified Duration 4 Months 20 Days Growth of 10,000 investment over the years.
Date Value 30 Jun 16 ₹10,000 30 Jun 17 ₹10,697 30 Jun 18 ₹11,448 30 Jun 19 ₹12,410 30 Jun 20 ₹13,421 30 Jun 21 ₹14,002 Returns for Aditya Birla Sun Life Money Manager Fund
absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 27 Jul 21 Duration Returns 1 Month 0.4% 3 Month 1% 6 Month 2.1% 1 Year 4.1% 3 Year 6.8% 5 Year 6.9% 10 Year 15 Year Since launch 6.9% Historical performance (Yearly) on absolute basis
Year Returns 2020 6.6% 2019 8% 2018 7.9% 2017 6.8% 2016 7.7% 2015 8.4% 2014 9.2% 2013 9.4% 2012 9.8% 2011 9% Fund Manager information for Aditya Birla Sun Life Money Manager Fund
Name Since Tenure Kaustubh Gupta 15 Jul 11 9.97 Yr. Anuj Jain 22 Mar 21 0.27 Yr. Mohit Sharma 1 Apr 17 4.25 Yr. Data below for Aditya Birla Sun Life Money Manager Fund as on 30 Jun 21
Asset Allocation
Asset Class Value Cash 85.92% Debt 14.08% Debt Sector Allocation
Sector Value Cash Equivalent 49.46% Corporate 36.46% Government 14.08% Credit Quality
Rating Value AAA 100% Top Securities Holdings / Portfolio
Name Holding Value Quantity 8.79% Govt Stock 2021
Sovereign Bonds | -13% ₹1,832 Cr 180,000,000
↑ 180,000,000 91 DTB 23092021
Sovereign Bonds | -2% ₹248 Cr 25,000,000
↑ 25,000,000 5.09% Govt Stock 2022
Sovereign Bonds | -0% ₹50 Cr 5,000,000
↑ 5,000,000 8.13% Oil Mkt Comp GOI Sb 2021
Domestic Bonds | -0% ₹35 Cr 3,500,000
↑ 3,500,000 Panatone Finvest Limited
Commercial Paper | -6% ₹826 Cr 17,000
↑ 17,000 Clearing Corporation Of India Limited
CBLO | -5% ₹717 Cr IDFC First Bank Limited
Certificate of Deposit | -4% ₹496 Cr 50,000
↑ 50,000 Tata Motors Limited (Earlier Tata Engineering And Locomotive Co. Ltd)
Commercial Paper | -4% ₹492 Cr 10,000
↑ 10,000 Reverse Repo
CBLO/Reverse Repo | -2% ₹312 Cr Jamnagar Utilities & Power Pvt. Ltd.
Commercial Paper | -2% ₹299 Cr 6,000
↑ 6,000 3. Nippon India Money Market Fund
CAGR/Annualized return of 7.6% since its launch. Ranked 27 in Money Market category. Return for 2020 was 6% , 2019 was 8.1% and 2018 was 7.9% . Nippon India Money Market Fund
Growth Launch Date 16 Jun 05 NAV (27 Jul 21) ₹3,235.7 ↑ 0.43 (0.01 %) Net Assets (Cr) ₹7,318 on 30 Jun 21 Category Debt - Money Market AMC Nippon Life Asset Management Ltd. Rating ☆☆☆ Risk Low Expense Ratio 0.25 Sharpe Ratio 2.28 Information Ratio 0 Alpha Ratio 0 Min Investment 5,000 Min SIP Investment 100 Exit Load NIL Yield to Maturity 3.88% Effective Maturity 5 Months 21 Days Modified Duration 5 Months 6 Days Growth of 10,000 investment over the years.
Date Value 30 Jun 16 ₹10,000 30 Jun 17 ₹10,685 30 Jun 18 ₹11,426 30 Jun 19 ₹12,388 30 Jun 20 ₹13,339 30 Jun 21 ₹13,888 Returns for Nippon India Money Market Fund
absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 27 Jul 21 Duration Returns 1 Month 0.4% 3 Month 1% 6 Month 2% 1 Year 4% 3 Year 6.6% 5 Year 6.7% 10 Year 15 Year Since launch 7.6% Historical performance (Yearly) on absolute basis
Year Returns 2020 6% 2019 8.1% 2018 7.9% 2017 6.6% 2016 7.6% 2015 8.3% 2014 9.1% 2013 9.2% 2012 9.6% 2011 9% Fund Manager information for Nippon India Money Market Fund
Name Since Tenure Anju Chhajer 1 Feb 20 1.41 Yr. Kinjal Desai 16 Jul 18 2.96 Yr. Data below for Nippon India Money Market Fund as on 30 Jun 21
Asset Allocation
Asset Class Value Cash 42.93% Debt 57.07% Debt Sector Allocation
Sector Value Government 57.07% Cash Equivalent 28.03% Corporate 14.89% Credit Quality
Rating Value AAA 100% Top Securities Holdings / Portfolio
Name Holding Value Quantity 8.20% Govt Stock 2022
Sovereign Bonds | -14% ₹1,041 Cr 101,360,350
↑ 101,360,350 8.79% Govt Stock 2021
Sovereign Bonds | -11% ₹837 Cr 82,269,200
↑ 82,269,200 182 DTB 09122021
Sovereign Bonds | -9% ₹689 Cr 70,000,000
↑ 70,000,000 182 DTB 02122021
Sovereign Bonds | -5% ₹394 Cr 40,000,000
↑ 40,000,000 182 DTB 16122021
Sovereign Bonds | -3% ₹246 Cr 25,000,000
↑ 25,000,000 182 DTB 23122021
Sovereign Bonds | -3% ₹246 Cr 25,000,000
↑ 25,000,000 182 DTB 25112021
Sovereign Bonds | -3% ₹222 Cr 22,500,000
↑ 22,500,000 182 DTB 14102021
Sovereign Bonds | -2% ₹139 Cr 14,000,000
↑ 14,000,000 8.21% HR SDL Spl 2022
Domestic Bonds | -2% ₹119 Cr 11,600,000
↑ 11,600,000 182 DTB 18112021
Sovereign Bonds | -2% ₹118 Cr 12,000,000
↑ 12,000,000 4. UTI Money Market Fund
CAGR/Annualized return of 7.6% since its launch. Ranked 23 in Money Market category. Return for 2020 was 6% , 2019 was 8% and 2018 was 7.8% . UTI Money Market Fund
Growth Launch Date 13 Jul 09 NAV (27 Jul 21) ₹2,403.98 ↑ 0.28 (0.01 %) Net Assets (Cr) ₹6,636 on 30 Jun 21 Category Debt - Money Market AMC UTI Asset Management Company Ltd Rating ☆☆☆☆ Risk Low Expense Ratio 0.27 Sharpe Ratio 1.98 Information Ratio 0 Alpha Ratio 0 Min Investment 10,000 Min SIP Investment 10,000 Exit Load NIL Yield to Maturity 3.89% Effective Maturity 5 Months 13 Days Modified Duration 5 Months 12 Days Growth of 10,000 investment over the years.
Date Value 30 Jun 16 ₹10,000 30 Jun 17 ₹10,691 30 Jun 18 ₹11,432 30 Jun 19 ₹12,381 30 Jun 20 ₹13,319 30 Jun 21 ₹13,875 Returns for UTI Money Market Fund
absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 27 Jul 21 Duration Returns 1 Month 0.4% 3 Month 0.9% 6 Month 2% 1 Year 4% 3 Year 6.6% 5 Year 6.7% 10 Year 15 Year Since launch 7.6% Historical performance (Yearly) on absolute basis
Year Returns 2020 6% 2019 8% 2018 7.8% 2017 6.7% 2016 7.7% 2015 8.4% 2014 9.1% 2013 9.2% 2012 9.7% 2011 9% Fund Manager information for UTI Money Market Fund
Name Since Tenure Amandeep Chopra 14 Dec 06 14.56 Yr. Amit Sharma 7 Jul 17 3.99 Yr. Data below for UTI Money Market Fund as on 30 Jun 21
Asset Allocation
Asset Class Value Cash 51.98% Debt 48.02% Debt Sector Allocation
Sector Value Government 46.1% Cash Equivalent 30.53% Corporate 23.38% Credit Quality
Rating Value AAA 100% Top Securities Holdings / Portfolio
Name Holding Value Quantity 182 DTB 23122021
Sovereign Bonds | -16% ₹1,076 Cr 10,950,000,000
↑ 10,950,000,000 8.79% Govt Stock 2021
Sovereign Bonds | -8% ₹544 Cr 5,350,000,000
↑ 5,350,000,000 182 DTB 16122021
Sovereign Bonds | -6% ₹393 Cr 4,000,000,000
↑ 4,000,000,000 8.20% Govt Stock 2022
Sovereign Bonds | -4% ₹233 Cr 2,266,180,000
↑ 2,266,180,000 182 DTB 09122021
Sovereign Bonds | -3% ₹197 Cr 2,000,000,000
↑ 2,000,000,000 182 DTB 30122021
Sovereign Bonds | -3% ₹172 Cr 1,750,000,000
↑ 1,750,000,000 182 DTB 19082021
Sovereign Bonds | -2% ₹149 Cr 1,500,000,000
↑ 1,500,000,000 182 DTB 18112021
Sovereign Bonds | -2% ₹148 Cr 1,500,000,000
↑ 1,500,000,000 182 DTB 25112021
Sovereign Bonds | -2% ₹148 Cr 1,500,000,000
↑ 1,500,000,000 182 DTB 02122021
Sovereign Bonds | -2% ₹148 Cr 1,500,000,000
↑ 1,500,000,000 5. HDFC Money Market Fund
CAGR/Annualized return of 7.2% since its launch. Ranked 41 in Money Market category. Return for 2020 was 6.5% , 2019 was 8.1% and 2018 was 7.4% . HDFC Money Market Fund
Growth Launch Date 18 Nov 99 NAV (27 Jul 21) ₹4,475.07 ↑ 0.55 (0.01 %) Net Assets (Cr) ₹13,854 on 30 Jun 21 Category Debt - Money Market AMC HDFC Asset Management Company Limited Rating ☆☆☆ Risk Low Expense Ratio 0.35 Sharpe Ratio 1.84 Information Ratio 0 Alpha Ratio 0 Min Investment 5,000 Min SIP Investment 500 Exit Load NIL Yield to Maturity 3.96% Effective Maturity 5 Months 4 Days Modified Duration 5 Months 3 Days Growth of 10,000 investment over the years.
Date Value 30 Jun 16 ₹10,000 30 Jun 17 ₹10,672 30 Jun 18 ₹11,380 30 Jun 19 ₹12,299 30 Jun 20 ₹13,310 30 Jun 21 ₹13,868 Returns for HDFC Money Market Fund
absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 27 Jul 21 Duration Returns 1 Month 0.4% 3 Month 1% 6 Month 2% 1 Year 4% 3 Year 6.7% 5 Year 6.7% 10 Year 15 Year Since launch 7.2% Historical performance (Yearly) on absolute basis
Year Returns 2020 6.5% 2019 8.1% 2018 7.4% 2017 6.5% 2016 7.5% 2015 8.3% 2014 9.1% 2013 9.2% 2012 9.7% 2011 8.9% Fund Manager information for HDFC Money Market Fund
Name Since Tenure Anil Bamboli 25 Jul 12 8.94 Yr. Vikash Agarwal 1 Jul 20 1 Yr. Sankalp Baid 22 Jan 21 0.44 Yr. Data below for HDFC Money Market Fund as on 30 Jun 21
Asset Allocation
Asset Class Value Cash 74.17% Debt 25.83% Debt Sector Allocation
Sector Value Cash Equivalent 39.99% Corporate 34.17% Government 25.83% Credit Quality
Rating Value AAA 100% Top Securities Holdings / Portfolio
Name Holding Value Quantity 8.79% Govt Stock 2021
Sovereign Bonds | -8% ₹1,170 Cr 115,000,000
↑ 115,000,000 8.20% Govt Stock 2022
Sovereign Bonds | -4% ₹622 Cr 60,596,800
↑ 60,596,800 182 DTB 07102021
Sovereign Bonds | -4% ₹495 Cr 50,000,000
↑ 50,000,000 182 DTB 12112021
Sovereign Bonds | -3% ₹444 Cr 45,000,000
↑ 45,000,000 6.17% Govt Stock 2021
Sovereign Bonds | -3% ₹370 Cr 37,000,000
↑ 37,000,000 182 DTB 18112021
Sovereign Bonds | -2% ₹345 Cr 35,000,000
↑ 35,000,000 182 DTB 19082021
Sovereign Bonds | -2% ₹299 Cr 30,000,000
↑ 30,000,000 182 DTB 09122021
Sovereign Bonds | -2% ₹295 Cr 30,000,000
↑ 30,000,000 182 DTB 25112021
Sovereign Bonds | -1% ₹99 Cr 10,000,000
↑ 10,000,000 364 DTB 30032022
Sovereign Bonds | -1% ₹78 Cr 8,000,000
↑ 8,000,000
Conclusion
While we have learnt about money market instruments it's also important to know about debt mutual funds, their types, and classifications. Well, debt mutual funds are classified into general broad categories such as Liquid Funds, Ultra short term funds, Short Term Funds, Long Term Income Funds and Gilt Funds.
However, to invest in money market funds, it’s very important to understand the situation of the Economy, the direction of interest rates, and the expected direction of movement of yields in corporate debt as well as government debt when investing.
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.
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