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What are Money Market Funds?

Updated on June 10, 2024 , 17261 views

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-Instruments

Fixed Income Vs Stocks

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 The difference between this and a term deposit in a Bank is that CDs can’t be withdrawn.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.

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.

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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) 553,584.29 6.64 4.60-6.86
I. Call Money 16,300.98 6.67 4.60-6.85
II. Triparty Repo 376,743.10 6.64 6.56-6.80
III. Market Repo 160,540.21 6.65 6.00-6.86
IV. Repo in Corporate Bond 0.00 - -
B. Term Segment
I. Notice Money** 109.00 6.27 6.00-6.70
II. Term Money@@ 351.00 - 6.40-7.00
III. Triparty Repo 55.00 6.60 6.60-6.60
IV. Market Repo 1,075.00 6.76 6.75-6.85
V. Repo in Corporate Bond 0.00 - -

Source: Money Market Operations, RBI Date: 27 Feb 2023

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 for Investing in MMFs

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 24 - 25

Some of the best money market funds in India are as follows-

FundNAVNet Assets (Cr)3 MO (%)6 MO (%)1 YR (%)3 YR (%)2023 (%)Debt Yield (YTM)Mod. DurationEff. Maturity
Aditya Birla Sun Life Money Manager Fund Growth ₹341.946
↑ 0.07
₹23,8521.93.97.567.47.81%9M 29D9M 29D
UTI Money Market Fund Growth ₹2,848.13
↑ 0.56
₹14,0411.93.97.567.47.62%8M 8D8M 8D
Nippon India Money Market Fund Growth ₹3,835.13
↑ 0.75
₹14,7751.93.97.567.47.65%7M 19D8M 7D
Tata Money Market Fund Growth ₹4,363.87
↑ 0.91
₹17,2881.93.97.55.97.47.67%8M 28D8M 28D
ICICI Prudential Money Market Fund Growth ₹350.607
↑ 0.07
₹21,8611.93.97.55.97.47.66%8M 8D8M 28D
Note: Returns up to 1 year are on absolute basis & more than 1 year are on CAGR basis. as on 13 Jun 24

1. 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.

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 CAGR/Annualized return of 6.8% since its launch.  Ranked 7 in Money Market category.  Return for 2023 was 7.4% , 2022 was 4.8% and 2021 was 3.8% .

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 (13 Jun 24) ₹341.946 ↑ 0.07   (0.02 %)
Net Assets (Cr) ₹23,852 on 15 May 24
Category Debt - Money Market
AMC Birla Sun Life Asset Management Co Ltd
Rating
Risk Low
Expense Ratio 0.33
Sharpe Ratio 2.19
Information Ratio 0
Alpha Ratio 0
Min Investment 1,000
Min SIP Investment 1,000
Exit Load NIL
Yield to Maturity 7.81%
Effective Maturity 9 Months 29 Days
Modified Duration 9 Months 29 Days

Growth of 10,000 investment over the years.

DateValue
31 May 19₹10,000
31 May 20₹10,802
31 May 21₹11,307
31 May 22₹11,715
31 May 23₹12,502
31 May 24₹13,445

Aditya Birla Sun Life Money Manager Fund SIP Returns

   
My Monthly Investment:
Investment Tenure:
Years
Expected Annual 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 13 Jun 24

DurationReturns
1 Month 0.7%
3 Month 1.9%
6 Month 3.9%
1 Year 7.5%
3 Year 6%
5 Year 6.1%
10 Year
15 Year
Since launch 6.8%
Historical performance (Yearly) on absolute basis
YearReturns
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%
2014 9.2%
Fund Manager information for Aditya Birla Sun Life Money Manager Fund
NameSinceTenure
Kaustubh Gupta15 Jul 1112.81 Yr.
Anuj Jain22 Mar 213.11 Yr.
Mohit Sharma1 Apr 177.09 Yr.
Dhaval Joshi21 Nov 221.44 Yr.

Data below for Aditya Birla Sun Life Money Manager Fund as on 15 May 24

Asset Allocation
Asset ClassValue
Cash69.87%
Debt29.95%
Other0.18%
Debt Sector Allocation
SectorValue
Corporate55.39%
Cash Equivalent34.4%
Government10.03%
Credit Quality
RatingValue
AAA100%
Top Securities Holdings / Portfolio
NameHoldingValueQuantity
India (Republic of)
- | -
2%₹475 Cr50,000,000
Axis Bank Ltd.
Debentures | -
2%₹475 Cr10,000
IDFC First Bank Ltd.
Debentures | -
2%₹472 Cr10,000
05.80 MH Sdl 2025
Sovereign Bonds | -
2%₹466 Cr47,000,000
07.38% MP Sdl 2025
Sovereign Bonds | -
2%₹466 Cr46,500,000
Tata Teleservices Ltd
Debentures | -
2%₹448 Cr9,500
Small Industries Development Bank of India
Debentures | -
2%₹378 Cr8,000
91 DTB 25072024
Sovereign Bonds | -
1%₹345 Cr35,000,000
HDFC Bank Ltd.
Debentures | -
1%₹331 Cr7,000
Indusind Bank Ltd.
Debentures | -
1%₹285 Cr6,000

2. 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.

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 CAGR/Annualized return of 7.3% since its launch.  Ranked 23 in Money Market category.  Return for 2023 was 7.4% , 2022 was 4.9% and 2021 was 3.7% .

Below is the key information for UTI Money Market Fund

UTI Money Market Fund
Growth
Launch Date 13 Jul 09
NAV (13 Jun 24) ₹2,848.13 ↑ 0.56   (0.02 %)
Net Assets (Cr) ₹14,041 on 30 Apr 24
Category Debt - Money Market
AMC UTI Asset Management Company Ltd
Rating
Risk Low
Expense Ratio 0.75
Sharpe Ratio 2.55
Information Ratio 0
Alpha Ratio 0
Min Investment 10,000
Min SIP Investment 500
Exit Load NIL
Yield to Maturity 7.62%
Effective Maturity 8 Months 8 Days
Modified Duration 8 Months 8 Days

Growth of 10,000 investment over the years.

DateValue
31 May 19₹10,000
31 May 20₹10,751
31 May 21₹11,230
31 May 22₹11,643
31 May 23₹12,417
31 May 24₹13,352

UTI Money Market Fund SIP Returns

   
My Monthly Investment:
Investment Tenure:
Years
Expected Annual Returns:
%
Total investment amount is ₹180,000
expected amount after 3 Years is ₹197,169.
Net Profit of ₹17,169
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 13 Jun 24

DurationReturns
1 Month 0.7%
3 Month 1.9%
6 Month 3.9%
1 Year 7.5%
3 Year 6%
5 Year 6%
10 Year
15 Year
Since launch 7.3%
Historical performance (Yearly) on absolute basis
YearReturns
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%
2014 9.1%
Fund Manager information for UTI Money Market Fund
NameSinceTenure
Anurag Mittal1 Dec 212.41 Yr.
Amit Sharma7 Jul 176.82 Yr.

Data below for UTI Money Market Fund as on 30 Apr 24

Asset Allocation
Asset ClassValue
Cash64.63%
Debt35.15%
Other0.22%
Debt Sector Allocation
SectorValue
Corporate50.33%
Cash Equivalent35.47%
Government13.98%
Credit Quality
RatingValue
AAA100%
Top Securities Holdings / Portfolio
NameHoldingValueQuantity
Canara Bank
Domestic Bonds | -
6%₹799 Cr8,500,000,000
India (Republic of)
- | -
5%₹683 Cr7,000,000,000
India (Republic of)
- | -
3%₹489 Cr5,000,000,000
ICICI Bank Ltd.
Debentures | -
2%₹331 Cr3,500,000,000
↑ 1,500,000,000
Kotak Mahindra Bank Ltd.
Debentures | -
2%₹285 Cr3,000,000,000
Indian Bank
Domestic Bonds | -
2%₹282 Cr3,000,000,000
AU Small Finance Bank Ltd.
Debentures | -
2%₹235 Cr2,500,000,000
182 DTB 29082024
Sovereign Bonds | -
1%₹196 Cr2,000,000,000
India (Republic of)
- | -
1%₹196 Cr2,000,000,000
Kotak Mahindra Bank Ltd.
Debentures | -
1%₹170 Cr1,750,000,000

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.

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 CAGR/Annualized return of 7.3% since its launch.  Ranked 27 in Money Market category.  Return for 2023 was 7.4% , 2022 was 5% and 2021 was 3.8% .

Below is the key information for Nippon India Money Market Fund

Nippon India Money Market Fund
Growth
Launch Date 16 Jun 05
NAV (13 Jun 24) ₹3,835.13 ↑ 0.75   (0.02 %)
Net Assets (Cr) ₹14,775 on 30 Apr 24
Category Debt - Money Market
AMC Nippon Life Asset Management Ltd.
Rating
Risk Low
Expense Ratio 0.31
Sharpe Ratio 2.15
Information Ratio 0
Alpha Ratio 0
Min Investment 5,000
Min SIP Investment 100
Exit Load NIL
Yield to Maturity 7.65%
Effective Maturity 8 Months 7 Days
Modified Duration 7 Months 19 Days

Growth of 10,000 investment over the years.

DateValue
31 May 19₹10,000
31 May 20₹10,765
31 May 21₹11,236
31 May 22₹11,655
31 May 23₹12,433
31 May 24₹13,367

Nippon India Money Market Fund SIP Returns

   
My Monthly Investment:
Investment Tenure:
Years
Expected Annual Returns:
%
Total investment amount is ₹180,000
expected amount after 3 Years is ₹197,169.
Net Profit of ₹17,169
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 13 Jun 24

DurationReturns
1 Month 0.7%
3 Month 1.9%
6 Month 3.9%
1 Year 7.5%
3 Year 6%
5 Year 6%
10 Year
15 Year
Since launch 7.3%
Historical performance (Yearly) on absolute basis
YearReturns
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%
2014 9.1%
Fund Manager information for Nippon India Money Market Fund
NameSinceTenure
Anju Chhajer1 Feb 204.25 Yr.
Kinjal Desai16 Jul 185.79 Yr.

Data below for Nippon India Money Market Fund as on 30 Apr 24

Asset Allocation
Asset ClassValue
Cash83.08%
Debt16.72%
Other0.2%
Debt Sector Allocation
SectorValue
Corporate55.56%
Cash Equivalent31.33%
Government12.92%
Credit Quality
RatingValue
AAA100%
Top Securities Holdings / Portfolio
NameHoldingValueQuantity
India (Republic of)
- | -
3%₹466 Cr47,634,100
↑ 35,000,000
India (Republic of)
- | -
2%₹342 Cr35,000,000
07.38% MP Sdl 2025
Sovereign Bonds | -
2%₹275 Cr27,500,000
08.10 JH Sdl 2025
Sovereign Bonds | -
2%₹252 Cr25,000,000
08.09 Ts SDL 2025
Sovereign Bonds | -
1%₹236 Cr23,500,000
India (Republic of)
- | -
1%₹142 Cr15,000,000
ICICI Bank Ltd.
Debentures | -
1%₹141 Cr3,000
08.06 AP Sdl 2025
Sovereign Bonds | -
1%₹101 Cr10,000,000
182 DTB 26102024
Sovereign Bonds | -
1%₹99 Cr10,000,000
↑ 10,000,000
India (Republic of)
- | -
1%₹98 Cr10,000,000

4. 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.

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 CAGR/Annualized return of 6.7% since its launch.  Ranked 30 in Money Market category.  Return for 2023 was 7.4% , 2022 was 4.8% and 2021 was 3.9% .

Below is the key information for Tata Money Market Fund

Tata Money Market Fund
Growth
Launch Date 22 May 03
NAV (13 Jun 24) ₹4,363.87 ↑ 0.91   (0.02 %)
Net Assets (Cr) ₹17,288 on 30 Apr 24
Category Debt - Money Market
AMC Tata Asset Management Limited
Rating
Risk Low
Expense Ratio 0.22
Sharpe Ratio 2.06
Information Ratio 0
Alpha Ratio 0
Min Investment 5,000
Min SIP Investment 500
Exit Load NIL
Yield to Maturity 7.67%
Effective Maturity 8 Months 28 Days
Modified Duration 8 Months 28 Days

Growth of 10,000 investment over the years.

DateValue
31 May 19₹10,000
31 May 20₹10,767
31 May 21₹11,271
31 May 22₹11,675
31 May 23₹12,451
31 May 24₹13,385

Tata Money Market Fund SIP Returns

   
My Monthly Investment:
Investment Tenure:
Years
Expected Annual 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 13 Jun 24

DurationReturns
1 Month 0.7%
3 Month 1.9%
6 Month 3.9%
1 Year 7.5%
3 Year 5.9%
5 Year 6%
10 Year
15 Year
Since launch 6.7%
Historical performance (Yearly) on absolute basis
YearReturns
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%
2014 9%
Fund Manager information for Tata Money Market Fund
NameSinceTenure
Amit Somani16 Oct 1310.55 Yr.

Data below for Tata Money Market Fund as on 30 Apr 24

Asset Allocation
Asset ClassValue
Cash63.89%
Debt35.88%
Other0.23%
Debt Sector Allocation
SectorValue
Corporate49.9%
Cash Equivalent36.82%
Government13.06%
Credit Quality
RatingValue
AAA100%
Top Securities Holdings / Portfolio
NameHoldingValueQuantity
India (Republic of)
- | -
5%₹792 Cr81,000,000
↑ 10,000,000
Punjab National Bank
Domestic Bonds | -
4%₹783 Cr16,500
HDFC Bank Ltd.
Debentures | -
3%₹520 Cr11,000
Punjab & Sind Bank
Debentures | -
3%₹470 Cr10,000
India (Republic of)
- | -
3%₹450 Cr46,000,000
↑ 15,000,000
India (Republic of)
- | -
2%₹395 Cr41,500,000
LIC Housing Finance Ltd.
Debentures | -
2%₹377 Cr8,000
↓ -6,000
Small Industries Development Bank of India
Debentures | -
2%₹330 Cr7,000
Union Bank of India
Domestic Bonds | -
2%₹329 Cr7,000
HDFC Bank Ltd.
Debentures | -
2%₹287 Cr6,000

5. 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.

ICICI Prudential Money Market Fund is a Debt - Money Market fund was launched on 9 Mar 06. It is a fund with Low risk and has given a CAGR/Annualized return of 7.1% since its launch.  Ranked 17 in Money Market category.  Return for 2023 was 7.4% , 2022 was 4.7% and 2021 was 3.7% .

Below is the key information for ICICI Prudential Money Market Fund

ICICI Prudential Money Market Fund
Growth
Launch Date 9 Mar 06
NAV (13 Jun 24) ₹350.607 ↑ 0.07   (0.02 %)
Net Assets (Cr) ₹21,861 on 30 Apr 24
Category Debt - Money Market
AMC ICICI Prudential Asset Management Company Limited
Rating
Risk Low
Expense Ratio 0.32
Sharpe Ratio 1.99
Information Ratio 0
Alpha Ratio 0
Min Investment 500
Min SIP Investment 100
Exit Load NIL
Yield to Maturity 7.66%
Effective Maturity 8 Months 28 Days
Modified Duration 8 Months 8 Days

Growth of 10,000 investment over the years.

DateValue
31 May 19₹10,000
31 May 20₹10,771
31 May 21₹11,248
31 May 22₹11,641
31 May 23₹12,410
31 May 24₹13,338

ICICI Prudential Money Market Fund SIP Returns

   
My Monthly Investment:
Investment Tenure:
Years
Expected Annual Returns:
%
Total investment amount is ₹180,000
expected amount after 3 Years is ₹197,169.
Net Profit of ₹17,169
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 13 Jun 24

DurationReturns
1 Month 0.7%
3 Month 1.9%
6 Month 3.9%
1 Year 7.5%
3 Year 5.9%
5 Year 5.9%
10 Year
15 Year
Since launch 7.1%
Historical performance (Yearly) on absolute basis
YearReturns
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%
2014 9.1%
Fund Manager information for ICICI Prudential Money Market Fund
NameSinceTenure
Manish Banthia12 Jun 230.89 Yr.
Nikhil Kabra3 Aug 167.75 Yr.

Data below for ICICI Prudential Money Market Fund as on 30 Apr 24

Asset Allocation
Asset ClassValue
Cash64.45%
Debt35.39%
Other0.16%
Debt Sector Allocation
SectorValue
Corporate46.64%
Cash Equivalent39.63%
Government13.57%
Credit Quality
RatingValue
AAA100%
Top Securities Holdings / Portfolio
NameHoldingValueQuantity
India (Republic of)
- | -
4%₹946 Cr100,000,000
Indian Bank
Domestic Bonds | -
3%₹612 Cr13,000
Small Industries Development Bank of India
Debentures | -
2%₹566 Cr12,000
Union Bank of India
Domestic Bonds | -
2%₹470 Cr10,000
Punjab National Bank
Domestic Bonds | -
2%₹380 Cr8,000
India (Republic of)
- | -
2%₹378 Cr40,000,000
India (Republic of)
- | -
2%₹378 Cr40,000,000
LIC Housing Finance Ltd.
Debentures | -
1%₹283 Cr6,000
Hero Fincorp Limited
Debentures | -
1%₹282 Cr6,000
Union Bank of India
Domestic Bonds | -
1%₹282 Cr6,000

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.

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.
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