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Money Market Mutual Funds

Updated on January 13, 2020 , 1687 views

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-Instruments

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 The difference between this and a term deposit in a bank is that CDs can’t be withdrawn.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

Money Markets
- Range
A. Overnight Segment 3.00-6.25
Call Money 4.75-6.25
CBLO 5.54-6.00
Market Repo 3.00-6.00
Repo in Corporate Bond -
B. Term Segment
Notice Money** 5.40-6.05
Term Money 6.05-6.05
CBLO 5.90-5.90
Market Reop -
Repo in Corporate Bond -
RBI Operations
- * Current Rate/Cut-off Rate*
C. Liquidity Adjustment Facility
Repo (Fixed Rate) 6.25
Reop (Variable Rate) 6.26
Reverse Repo (Fixed Rate) 5.75
Reverse Repo (Variable Rate) 6.24
D. Marginal Standing Facility 6.25

Source: Money Market Operations, RBI Date- 28th Feb 2017

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 fund 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.

Best Money Market Funds to Invest in FY 20 - 21

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

FundNAVNet Assets (Cr)3 MO (%)6 MO (%)1 YR (%)3 YR (%)2019 (%)Debt Yield (YTM)Mod. DurationEff. Maturity
Aditya Birla Sun Life Money Manager Fund Growth ₹265.438
↑ 0.04
₹11,1451.53.57.97.685.53%4M 10D4M 10D
L&T Money Market Fund Growth ₹19.635
↑ 0.00
₹9281.45.38.17.68.25.63%5M 1D5M 5D
Kotak Money Market Scheme Growth ₹3,260.49
↑ 0.40
₹9,7581.53.67.97.585.72%4M 28D4M 28D
UTI Money Market Fund Growth ₹2,224.13
↑ 0.29
₹7,9021.53.57.97.585.52%4M 10D4M 12D
ICICI Prudential Money Market Fund Growth ₹274.054
↑ 0.03
₹10,7411.53.57.77.47.95.45%4M 7D4M 14D
Note: Returns up to 1 year are on absolute basis & more than 1 year are on CAGR basis. as on 15 Jan 20

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 7.1% since its launch.  Ranked 7 in Money Market category.  Return for 2019 was 8% , 2018 was 7.9% and 2017 was 6.8% .

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 (15 Jan 20) ₹265.438 ↑ 0.04   (0.01 %)
Net Assets (Cr) ₹11,145 on 30 Nov 19
Category Debt - Money Market
AMC Birla Sun Life Asset Management Co Ltd
Rating
Risk Low
Expense Ratio 0.27
Sharpe Ratio 8.09
Information Ratio 1.75
Alpha Ratio -0.98
Min Investment 1,000
Min SIP Investment 1,000
Exit Load NIL
Yield to Maturity 5.53%
Effective Maturity 4 Months 10 Days
Modified Duration 4 Months 10 Days

Growth of 10,000 investment over the years.

DateValue
31 Dec 14₹10,000
31 Dec 15₹10,840
31 Dec 16₹11,676
31 Dec 17₹12,465
31 Dec 18₹13,452
31 Dec 19₹14,534

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 ₹203,125.
Net Profit of ₹23,125
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 15 Jan 20

DurationReturns
1 Month 0.5%
3 Month 1.5%
6 Month 3.5%
1 Year 7.9%
3 Year 7.6%
5 Year 7.7%
10 Year
15 Year
Since launch 7.1%
Historical performance (Yearly) on absolute basis
YearReturns
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%
2010 5.7%
Fund Manager information for Aditya Birla Sun Life Money Manager Fund
NameSinceTenure
Kaustubh Gupta15 Jul 118.3 Yr.
Mohit Sharma1 Apr 172.58 Yr.

Data below for Aditya Birla Sun Life Money Manager Fund as on 30 Nov 19

Asset Allocation
Asset ClassValue
Cash100%
Debt Sector Allocation
SectorValue
Corporate60.56%
Cash Equivalent33.06%
Government6.38%
Credit Quality
RatingValue
AAA100%
Top Securities Holdings / Portfolio
NameHoldingValueQuantity
National Bank For Agriculture And Rural Development
Commercial Paper | -
3%₹370 Cr7,500
Bank Of Baroda
Certificate of Deposit | -
3%₹370 Cr37,500
Small Industries Development Bank Of India
Certificate of Deposit | -
3%₹361 Cr36,500
The Tata Power Company Limited
Commercial Paper | -
3%₹344 Cr7,000
LIC HOUSING FINANCE LIMITED
Commercial Paper | -
3%₹297 Cr6,000
TATA SONS PRIVATE LIMITED
Commercial Paper | -
3%₹297 Cr6,000
National Bank For Agriculture And Rural Development
Certificate of Deposit | -
3%₹296 Cr30,000
The Federal Bank Limited
Certificate of Deposit | -
3%₹294 Cr30,000
↑ 30,000
IndusInd Bank Limited
Certificate of Deposit | -
3%₹293 Cr30,000
↑ 30,000
L & T Infrastructure Finance Company Limited
Commercial Paper | -
3%₹288 Cr6,000
↑ 6,000

2. L&T Money Market Fund

(Erstwhile L&T Floating Rate Fund)

To generate regular income through investment in a portfolio comprising substantially of floating rate debt/money market instruments, fixed rate debt/money market instruments swapped for floating rate returns, and fixed rate debt securities, Government securities and money market instruments.

L&T Money Market Fund is a Debt - Money Market fund was launched on 10 Aug 05. It is a fund with Moderate risk and has given a CAGR/Annualized return of 7.8% since its launch.  Ranked 12 in Money Market category.  Return for 2019 was 8.2% , 2018 was 7.3% and 2017 was 7.5% .

Below is the key information for L&T Money Market Fund

L&T Money Market Fund
Growth
Launch Date 10 Aug 05
NAV (15 Jan 20) ₹19.635 ↑ 0.00   (0.01 %)
Net Assets (Cr) ₹928 on 30 Nov 19
Category Debt - Money Market
AMC L&T Investment Management Ltd
Rating
Risk Moderate
Expense Ratio 0.77
Sharpe Ratio 2.38
Information Ratio 0
Alpha Ratio 0
Min Investment 10,000
Min SIP Investment 1,000
Exit Load NIL
Yield to Maturity 5.63%
Effective Maturity 5 Months 5 Days
Modified Duration 5 Months 1 Day

Growth of 10,000 investment over the years.

DateValue
31 Dec 14₹10,000
31 Dec 15₹10,844
31 Dec 16₹11,835
31 Dec 17₹12,718
31 Dec 18₹13,652
31 Dec 19₹14,775

L&T 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 ₹206,148.
Net Profit of ₹26,148
Invest Now

Returns for L&T 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 15 Jan 20

DurationReturns
1 Month 0.4%
3 Month 1.4%
6 Month 5.3%
1 Year 8.1%
3 Year 7.6%
5 Year 8.1%
10 Year
15 Year
Since launch 7.8%
Historical performance (Yearly) on absolute basis
YearReturns
2019 8.2%
2018 7.3%
2017 7.5%
2016 9.1%
2015 8.4%
2014 8.6%
2013 8.7%
2012 10.6%
2011 9.3%
2010 5.2%
Fund Manager information for L&T Money Market Fund
NameSinceTenure
Jalpan Shah3 Apr 172.66 Yr.
Vikas Garg3 Apr 172.66 Yr.

Data below for L&T Money Market Fund as on 30 Nov 19

Asset Allocation
Asset ClassValue
Cash100.59%
Debt Sector Allocation
SectorValue
Corporate59.71%
Cash Equivalent31.43%
Government9.45%
Credit Quality
RatingValue
AAA100%
Top Securities Holdings / Portfolio
NameHoldingValueQuantity
SMALL INDUSTRIES DEVELOPMENT BANK OF INDIA
Certificate of Deposit | -
5%₹49 Cr5,000
Reliance Industries Limited
Commercial Paper | -
5%₹49 Cr1,000
↑ 1,000
INDIAN BANK
Certificate of Deposit | -
5%₹49 Cr5,000
↑ 2,500
LIC Housing Finance Limited
Commercial Paper | -
5%₹49 Cr1,000
HDFC BANK LIMITED
Certificate of Deposit | -
5%₹48 Cr5,000
↓ -1,500
AXIS BANK LIMITED
Certificate of Deposit | -
5%₹48 Cr5,000
Kotak Mahindra Bank Limited
Certificate of Deposit | -
5%₹48 Cr5,000
(A) Tri Party Repo Dealing System (Treps)/Reverse Repo
CBLO/Reverse Repo | -
5%₹46 Cr
NATIONAL BANK FOR AGRICULTURE AND RURAL DEVELOPMENT
Certificate of Deposit | -
4%₹39 Cr4,000
↑ 2,500
BANK OF BARODA
Certificate of Deposit | -
4%₹39 Cr4,000

3. 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.

Kotak Money Market Scheme is a Debt - Money Market fund was launched on 14 Jul 03. It is a fund with Low risk and has given a CAGR/Annualized return of 7.4% since its launch.  Ranked 19 in Money Market category.  Return for 2019 was 8% , 2018 was 7.7% and 2017 was 6.7% .

Below is the key information for Kotak Money Market Scheme

Kotak Money Market Scheme
Growth
Launch Date 14 Jul 03
NAV (15 Jan 20) ₹3,260.49 ↑ 0.40   (0.01 %)
Net Assets (Cr) ₹9,758 on 30 Nov 19
Category Debt - Money Market
AMC Kotak Mahindra Asset Management Co Ltd
Rating
Risk Low
Expense Ratio 0.2
Sharpe Ratio 9.96
Information Ratio 0
Alpha Ratio 0
Min Investment 5,000
Min SIP Investment 1,000
Exit Load NIL
Yield to Maturity 5.72%
Effective Maturity 4 Months 28 Days
Modified Duration 4 Months 28 Days

Growth of 10,000 investment over the years.

DateValue
31 Dec 14₹10,000
31 Dec 15₹10,845
31 Dec 16₹11,678
31 Dec 17₹12,460
31 Dec 18₹13,418
31 Dec 19₹14,494

Kotak Money Market Scheme SIP Returns

   
My Monthly Investment:
Investment Tenure:
Years
Expected Annual Returns:
%
Total investment amount is ₹180,000
expected amount after 3 Years is ₹203,125.
Net Profit of ₹23,125
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 15 Jan 20

DurationReturns
1 Month 0.5%
3 Month 1.5%
6 Month 3.6%
1 Year 7.9%
3 Year 7.5%
5 Year 7.7%
10 Year
15 Year
Since launch 7.4%
Historical performance (Yearly) on absolute basis
YearReturns
2019 8%
2018 7.7%
2017 6.7%
2016 7.7%
2015 8.4%
2014 9.1%
2013 9.3%
2012 9.8%
2011 9.1%
2010 5.2%
Fund Manager information for Kotak Money Market Scheme
NameSinceTenure
Deepak Agrawal11 Jul 0712.4 Yr.

Data below for Kotak Money Market Scheme as on 30 Nov 19

Asset Allocation
Asset ClassValue
Cash100%
Debt Sector Allocation
SectorValue
Corporate47.31%
Cash Equivalent45.71%
Government6.99%
Credit Quality
RatingValue
AAA100%
Top Securities Holdings / Portfolio
NameHoldingValueQuantity
Power Finance Corporation Ltd.
Commercial Paper | -
8%₹814 Cr16,500
Net Current Assets/(Liabilities)
Net Current Assets | -
7%₹713 Cr
IndusInd Bank Limited
Certificate of Deposit | -
6%₹605 Cr62,500
↑ 62,500
NATIONAL BANK FOR AGRICULTURE AND RURAL DEVELOPMENT
Commercial Paper | -
5%₹462 Cr9,500
HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED
Commercial Paper | -
4%₹407 Cr8,500
SMALL INDUSTRIES DEVELOPMENT BANK OF INDIA
Certificate of Deposit | -
4%₹388 Cr40,000
Small Industries Development Bank Of India
Certificate of Deposit | -
4%₹387 Cr40,000
Steel Authority Of India Limited
Commercial Paper | -
4%₹371 Cr37,500
↑ 37,500
91 DTB09012020
Sovereign Bonds | -
4%₹348 Cr35,000,000
↑ 35,000,000
182 DTB 19122019
Sovereign Bonds | -
3%₹299 Cr30,000,000
↓ -10,000,000

4. 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 7.9% since its launch.  Ranked 23 in Money Market category.  Return for 2019 was 8% , 2018 was 7.8% and 2017 was 6.7% .

Below is the key information for UTI Money Market Fund

UTI Money Market Fund
Growth
Launch Date 13 Jul 09
NAV (15 Jan 20) ₹2,224.13 ↑ 0.29   (0.01 %)
Net Assets (Cr) ₹7,902 on 30 Nov 19
Category Debt - Money Market
AMC UTI Asset Management Company Ltd
Rating
Risk Low
Expense Ratio 0.26
Sharpe Ratio 9.7
Information Ratio 0
Alpha Ratio 0
Min Investment 10,000
Min SIP Investment 1,500
Exit Load NIL
Yield to Maturity 5.52%
Effective Maturity 4 Months 12 Days
Modified Duration 4 Months 10 Days

Growth of 10,000 investment over the years.

DateValue
31 Dec 14₹10,000
31 Dec 15₹10,835
31 Dec 16₹11,667
31 Dec 17₹12,445
31 Dec 18₹13,413
31 Dec 19₹14,482

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 ₹203,125.
Net Profit of ₹23,125
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 15 Jan 20

DurationReturns
1 Month 0.5%
3 Month 1.5%
6 Month 3.5%
1 Year 7.9%
3 Year 7.5%
5 Year 7.7%
10 Year
15 Year
Since launch 7.9%
Historical performance (Yearly) on absolute basis
YearReturns
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%
2010 5.4%
Fund Manager information for UTI Money Market Fund
NameSinceTenure
Amandeep Chopra14 Dec 0612.97 Yr.
Amit Sharma7 Jul 172.4 Yr.

Data below for UTI Money Market Fund as on 30 Nov 19

Asset Allocation
Asset ClassValue
Cash100%
Debt Sector Allocation
SectorValue
Corporate60.99%
Cash Equivalent33.62%
Government5.39%
Credit Quality
RatingValue
AAA100%
Top Securities Holdings / Portfolio
NameHoldingValueQuantity
Export-Import Bank Of India
Certificate of Deposit | -
4%₹320 Cr3,250,000,000
Andhra Bank
Certificate of Deposit | -
4%₹319 Cr3,240,000,000
Reliance Industries Limited
Commercial Paper | -
4%₹292 Cr3,000,000,000
↑ 3,000,000,000
IndusInd Bank Limited
Certificate of Deposit | -
4%₹292 Cr3,000,000,000
↑ 3,000,000,000
CANFIN Homes Limited
Commercial Paper | -
4%₹291 Cr3,000,000,000
Andhra Bank
Certificate of Deposit | -
3%₹247 Cr2,500,000,000
Reliance Industries Limited
Commercial Paper | -
3%₹247 Cr2,500,000,000
↑ 2,500,000,000
Oriental Bank Of Commerce
Certificate of Deposit | -
3%₹232 Cr2,350,000,000
THE TATA POWER COMPANY LIMITED
Commercial Paper | -
3%₹224 Cr2,250,000,000
↑ 2,250,000,000
IDFC First Bank Limited
Certificate of Deposit | -
3%₹221 Cr2,250,000,000
↑ 1,500,000,000

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 7.5% since its launch.  Ranked 17 in Money Market category.  Return for 2019 was 7.9% , 2018 was 7.7% and 2017 was 6.7% .

Below is the key information for ICICI Prudential Money Market Fund

ICICI Prudential Money Market Fund
Growth
Launch Date 9 Mar 06
NAV (15 Jan 20) ₹274.054 ↑ 0.03   (0.01 %)
Net Assets (Cr) ₹10,741 on 30 Nov 19
Category Debt - Money Market
AMC ICICI Prudential Asset Management Company Limited
Rating
Risk Low
Expense Ratio 0.27
Sharpe Ratio 9.29
Information Ratio 1.43
Alpha Ratio -0.33
Min Investment 500
Min SIP Investment 100
Exit Load NIL
Yield to Maturity 5.45%
Effective Maturity 4 Months 14 Days
Modified Duration 4 Months 7 Days

Growth of 10,000 investment over the years.

DateValue
31 Dec 14₹10,000
31 Dec 15₹10,833
31 Dec 16₹11,663
31 Dec 17₹12,440
31 Dec 18₹13,393
31 Dec 19₹14,449

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 ₹203,125.
Net Profit of ₹23,125
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 15 Jan 20

DurationReturns
1 Month 0.5%
3 Month 1.5%
6 Month 3.5%
1 Year 7.7%
3 Year 7.4%
5 Year 7.6%
10 Year
15 Year
Since launch 7.5%
Historical performance (Yearly) on absolute basis
YearReturns
2019 7.9%
2018 7.7%
2017 6.7%
2016 7.7%
2015 8.3%
2014 9.1%
2013 9.2%
2012 9.7%
2011 8.2%
2010 4.7%
Fund Manager information for ICICI Prudential Money Market Fund
NameSinceTenure
Rahul Goswami30 Oct 136.17 Yr.
Nikhil Kabra3 Aug 163.41 Yr.

Data below for ICICI Prudential Money Market Fund as on 30 Nov 19

Asset Allocation
Asset ClassValue
Cash94.5%
Debt5.5%
Debt Sector Allocation
SectorValue
Corporate47.21%
Cash Equivalent42.07%
Government10.72%
Credit Quality
RatingValue
AAA100%
Top Securities Holdings / Portfolio
NameHoldingValueQuantity
RELIANCE INDUSTRIES LIMITED
Commercial Paper | -
5%₹494 Cr10,000
182 DTB 26032020
Sovereign Bonds | -
4%₹428 Cr43,500,000
Power Finance Corporation Ltd.
Commercial Paper | -
4%₹395 Cr8,000
↑ 2,000
ORIENTAL BANK OF COMMERCE
Certificate of Deposit | -
4%₹385 Cr40,000
LARSEN AND TOUBRO LIMITED
Commercial Paper | -
3%₹296 Cr6,000
IndusInd Bank Limited
Certificate of Deposit | -
3%₹287 Cr30,000
HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED
Commercial Paper | -
2%₹248 Cr5,000
Reliance Industries Limited
Commercial Paper | -
2%₹247 Cr5,000
↑ 5,000
SBI CARDS & PAYMENT SERVICES PRIVATE LIMITED
Commercial Paper | -
2%₹246 Cr5,000
IDFC FIRST BANK LIMITED
Certificate of Deposit | -
2%₹243 Cr25,000

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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