+91-22-48913909Ultra Short Term Funds Vs Liquid Funds
Whenever we think of short-term investment in Mutual Funds, we often come across the terms such as ultra short term funds and Liquid Funds. Though both of them are categories of debt funds, however, they do possess the different characteristics. Ultra Short Term fund is a Debt fund category whose Portfolio consists of fixed Income securities with a maturity period ranging between 91 days to one year. On the other hand, the liquid fund is a debt fund category whose portfolio consists of Fixed Income securities with a maturity period of less than or equal to 91 days.
So, let us understand the differences between both ultra short term funds and liquid funds with respect to various parameters.
What is an Ultra Short Term Fund?
Ultra short term fund is a category of debt fund that invests its corpus in fixed income securities. The fund’s portfolio maturity tenure extends between 91 days and normally less than 1 year. These schemes were earlier referred as Liquid Plus Funds. Ultra Short Term Funds is suitable for investors who are willing to take a marginally higher level of risk to earn higher returns. These schemes are a notch above liquid funds with respect to risk and returns.
What is a Liquid Fund?
Liquid fund refers to the Mutual Fund scheme that invests its accumulated fund money in fixed income securities having a maturity period of less than 91 days. Liquid funds are part of debt funds and are considered to be one of the safe investment avenues. People having idle funds lying in their Bank account can choose to invest in the money in liquid funds and earn more returns. These schemes have higher liquidity as compared to ultra short term fund.
Difference Between Ultra Short Term Fund Vs Liquid Fund
The different parameters that differentiate ultra short term funds and liquid funds are as follows.
Maturity Tenure of Underlying Assets
The Maturity tenure of Underlying assets in case of liquid funds is less as compared to ultra short term funds. These securities in most cases have a maturity profile of less than or equal to 91 days. However, in case of ultra short term funds, the maturity tenure of its underlying securities are more than 91 days and less than 1 year.
Liquidity
The liquidity of liquid funds is high as compared to ultra short term funds. In case liquid funds, some of the Mutual Fund companies do provide an instant Redemption Facility. By opting for this facility, one can ensure that they get their proceeds credited to the bank account within 30 minutes. However, this facility is not available in case of ultra short term funds. In ultra short term funds people get their money back on the next working day if they place their order before the cut-off time.
Talk to our investment specialist
Returns
The returns in case of ultra short term funds are slightly higher as compared to liquid funds. This higher return is due to the marginally higher risk which is present in ultra short term funds as compared to liquid funds.
Risk
The risk in case of liquid funds is very low as compared to ultra short term funds. This is because the underlying securities in liquid funds are mostly held till maturity instead of trading due to very low maturity tenure. However, in case of ultra short term funds, the risk is marginally higher as compared to liquid funds.
Exit Load
Most of the liquid funds do not have any exit loads attached to it due to which people get the entire redemption proceeds at the time of withdrawals. However, ultra short term funds may or may not have exit loads. Exit load in case of ultra short term fund is generally applicable if the redemption is done within a short period of time.
Taxation
Since both ultra short-term funds and liquid funds are a part of the debt funds; the taxation rules are same for both of them. If both the funds are sold within three years from the date of purchase, then Short Term Capital Gain (STCG) is applicable which is charged as per the individual’s tax slab. On the contrary, if the units are redeemed after three years then Long Term Capital Gain (LTCG) is applicable which is charged at 20% along with indexation benefits.
Cut-off Time
The cut-off time for placing an order with respect to purchase or redemption in case of the liquid fund is 2 PM, while in case of ultra short term funds the cut-off time is 3 PM.
The table given below sums up the differences between liquid funds and ultra short term funds.
| Parameters | Liquid Funds | Ultra Short Term Funds |
|---|---|---|
| Maturity Profile of Underlying Assets | The maturity profile of the assets is less than or equal to 91 days | The maturity profile of the assets is more than 91 days and less than one year |
| Liquidity | High liquidity | Low as compared to Liquid Funds |
| Returns | Lower as compared to ultra short term funds | Slightly higher than liquid funds |
| Risk | Very low | Marginally higher in comparison to liquid funds |
| Exit Load | Mostly does not have exit load | May or may not have exit loads |
| Taxation | Short-term: Taxed as per individual’s slab rates Long-term: Taxed at 20% and had taxation benefits | Same as Liquid Funds |
| Cut-off Time | 2 PM | 3 PM |
Best Funds to Invest in FY 25 - 26
After understanding the differences between liquid funds and ultra short term funds, let us have a look at some of the Best Liquid Funds and Best Ultra Short term funds which may suit your requirements.
Best Liquid Funds
Fund NAV Net Assets (Cr) 1 MO (%) 3 MO (%) 6 MO (%) 1 YR (%) 2025 (%) Debt Yield (YTM) Mod. Duration Eff. Maturity BOI AXA Liquid Fund Growth ₹3,262.06
↑ 0.74 ₹1,874 0.5 1.5 3.2 6.4 6.6 6.09% 1M 17D 1M 17D Axis Liquid Fund Growth ₹3,153.67
↑ 0.74 ₹53,470 0.4 1.5 3.2 6.4 6.6 6.37% 1M 19D 1M 19D Edelweiss Liquid Fund Growth ₹3,621.55
↑ 0.81 ₹11,741 0.4 1.5 3.2 6.4 6.5 6.52% 2M 1D 2M 1D DSP Liquidity Fund Growth ₹4,041.9
↑ 1.00 ₹24,726 0.4 1.5 3.1 6.4 6.5 6.24% 1M 2D PGIM India Insta Cash Fund Growth ₹368.562
↑ 0.08 ₹1,438 0.5 1.5 3.2 6.4 6.5 6.15% 1M 10D 1M 10D Note: Returns up to 1 year are on absolute basis & more than 1 year are on CAGR basis. as on 30 Oct 26 Research Highlights & Commentary of 5 Funds showcased
Commentary BOI AXA Liquid Fund Axis Liquid Fund Edelweiss Liquid Fund DSP Liquidity Fund PGIM India Insta Cash Fund Point 1 Bottom quartile AUM (₹1,874 Cr). Highest AUM (₹53,470 Cr). Lower mid AUM (₹11,741 Cr). Upper mid AUM (₹24,726 Cr). Bottom quartile AUM (₹1,438 Cr). Point 2 Established history (18+ yrs). Established history (17+ yrs). Established history (19+ yrs). Oldest track record among peers (20 yrs). Established history (19+ yrs). Point 3 Rating: 3★ (lower mid). Rating: 4★ (upper mid). Rating: 2★ (bottom quartile). Rating: 3★ (bottom quartile). Top rated. Point 4 Risk profile: Low. Risk profile: Low. Risk profile: Low. Risk profile: Low. Risk profile: Low. Point 5 1Y return: 6.44% (top quartile). 1Y return: 6.44% (upper mid). 1Y return: 6.42% (lower mid). 1Y return: 6.40% (bottom quartile). 1Y return: 6.40% (bottom quartile). Point 6 1M return: 0.46% (top quartile). 1M return: 0.45% (bottom quartile). 1M return: 0.45% (lower mid). 1M return: 0.44% (bottom quartile). 1M return: 0.46% (upper mid). Point 7 Sharpe: 3.52 (top quartile). Sharpe: 3.18 (upper mid). Sharpe: 3.04 (bottom quartile). Sharpe: 3.10 (lower mid). Sharpe: 3.02 (bottom quartile). Point 8 Information ratio: 2.55 (top quartile). Information ratio: 0.00 (lower mid). Information ratio: 0.00 (bottom quartile). Information ratio: 0.00 (bottom quartile). Information ratio: 1.28 (upper mid). Point 9 Yield to maturity (debt): 6.09% (bottom quartile). Yield to maturity (debt): 6.37% (upper mid). Yield to maturity (debt): 6.52% (top quartile). Yield to maturity (debt): 6.24% (lower mid). Yield to maturity (debt): 6.15% (bottom quartile). Point 10 Modified duration: 0.13 yrs (lower mid). Modified duration: 0.14 yrs (bottom quartile). Modified duration: 0.17 yrs (bottom quartile). Modified duration: 0.09 yrs (top quartile). Modified duration: 0.11 yrs (upper mid). BOI AXA Liquid Fund
Axis Liquid Fund
Edelweiss Liquid Fund
DSP Liquidity Fund
PGIM India Insta Cash Fund
Best Ultra Short Term Funds
Fund NAV Net Assets (Cr) 3 MO (%) 6 MO (%) 1 YR (%) 3 YR (%) 2025 (%) Debt Yield (YTM) Mod. Duration Eff. Maturity Aditya Birla Sun Life Savings Fund Growth ₹594.806
↑ 0.12 ₹16,279 1.4 3.1 6.1 7.2 7.4 7.61% 6M 7D 7M 13D SBI Magnum Ultra Short Duration Fund Growth ₹6,468.79
↑ 1.19 ₹11,237 1.4 3.1 6.1 6.9 7 7.03% 3M 14D 5M 23D Nippon India Ultra Short Duration Fund Growth ₹4,357.14
↑ 0.81 ₹11,551 1.4 3 6 6.7 6.8 0.07% 1D Invesco India Ultra Short Term Fund Growth ₹2,915.77
↑ 0.53 ₹1,394 1.4 3 6 6.8 6.8 0% ICICI Prudential Ultra Short Term Fund Growth ₹29.9844
↑ 0.01 ₹15,236 1.3 3 6 6.9 7.1 7.37% 10M 17D 1Y 3M 18D Note: Returns up to 1 year are on absolute basis & more than 1 year are on CAGR basis. as on 30 Oct 26 Research Highlights & Commentary of 5 Funds showcased
Commentary Aditya Birla Sun Life Savings Fund SBI Magnum Ultra Short Duration Fund Nippon India Ultra Short Duration Fund Invesco India Ultra Short Term Fund ICICI Prudential Ultra Short Term Fund Point 1 Highest AUM (₹16,279 Cr). Bottom quartile AUM (₹11,237 Cr). Lower mid AUM (₹11,551 Cr). Bottom quartile AUM (₹1,394 Cr). Upper mid AUM (₹15,236 Cr). Point 2 Established history (23+ yrs). Oldest track record among peers (27 yrs). Established history (24+ yrs). Established history (15+ yrs). Established history (15+ yrs). Point 3 Top rated. Rating: 3★ (upper mid). Rating: 2★ (bottom quartile). Rating: 3★ (lower mid). Rating: 3★ (bottom quartile). Point 4 Risk profile: Moderately Low. Risk profile: Low. Risk profile: Low. Risk profile: Moderate. Risk profile: Moderate. Point 5 1Y return: 6.08% (top quartile). 1Y return: 6.06% (upper mid). 1Y return: 6.00% (lower mid). 1Y return: 5.97% (bottom quartile). 1Y return: 5.96% (bottom quartile). Point 6 1M return: 0.33% (upper mid). 1M return: 0.35% (top quartile). 1M return: 0.31% (lower mid). 1M return: 0.29% (bottom quartile). 1M return: 0.25% (bottom quartile). Point 7 Sharpe: 0.96 (upper mid). Sharpe: 0.94 (bottom quartile). Sharpe: 0.97 (top quartile). Sharpe: 0.85 (bottom quartile). Sharpe: 0.96 (lower mid). Point 8 Information ratio: 0.00 (top quartile). Information ratio: 0.00 (upper 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): 7.61% (top quartile). Yield to maturity (debt): 7.03% (lower mid). Yield to maturity (debt): 0.07% (bottom quartile). Yield to maturity (debt): 0.00% (bottom quartile). Yield to maturity (debt): 7.37% (upper mid). Point 10 Modified duration: 0.52 yrs (bottom quartile). Modified duration: 0.29 yrs (lower mid). Modified duration: 0.00 yrs (upper mid). Modified duration: 0.00 yrs (top quartile). Modified duration: 0.88 yrs (bottom quartile). Aditya Birla Sun Life Savings Fund
SBI Magnum Ultra Short Duration Fund
Nippon India Ultra Short Duration Fund
Invesco India Ultra Short Term Fund
ICICI Prudential Ultra Short Term Fund
*Above is the detailed list of Liquid / Ultrashort funds having Net Assets more than 1000 Crore and have been managing funds for atleast 3 Years. Sorted based on 1 Year returns.
*Below is the detailed list of Liquid / Ultrashort funds having Net Assets more than 1000 Crore and have been managing funds for atleast 3 Years. Sorted based on last yield to maturity.
The primary objective of the schemes is to generate regular income through investments in debt and money market instruments. Income maybe generated through the receipt of coupon payments or the purchase and sale of securities in the underlying portfolio. The schemes will under normal market conditions, invest its net assets in fixed income securities, money market instruments, cash and cash equivalents. Research Highlights for Aditya Birla Sun Life Savings Fund Below is the key information for Aditya Birla Sun Life Savings Fund Returns up to 1 year are on (Erstwhile ICICI Prudential Regular Income Fund) The fund’s objective is to generate regular income through investments primarily in debt and money market instruments. As a secondary objective, the Scheme also seeks to generate long term capital appreciation from the portion of equity investments under the Scheme. Research Highlights for ICICI Prudential Ultra Short Term Fund Below is the key information for ICICI Prudential Ultra Short Term Fund Returns up to 1 year are on (Erstwhile UTI - Floating Rate Fund - Short Term Plan) 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. The Scheme may also invest a portion of its net assets in fixed rate debt securities and money market instruments .However there can be no assurance that the investment objective of the Scheme will be achieved. The Scheme does not guarantee / indicate any returns. Research Highlights for UTI Ultra Short Term Fund Below is the key information for UTI Ultra Short Term Fund Returns up to 1 year are on (Erstwhile Kotak Treasury Advantage Fund) The investment objective of the Scheme is to generate returns through investments in debt and money market instruments with a view to reduce the interest rate risk. However, there is no assurance or guarantee that the investment objective of the scheme will be achieved. Research Highlights for Kotak Savings Fund Below is the key information for Kotak Savings Fund Returns up to 1 year are on "The primary investment objective of the Scheme is to seek to generate reasonable returns commensurate with low risk and a high degree of liquidity, from a portfolio constituted of money market securities and high quality debt securities. However, there can be no assurance that the investment objective of the Scheme will be realized." Research Highlights for DSP Money Manager Fund Below is the key information for DSP Money Manager Fund Returns up to 1 year are on 1. Aditya Birla Sun Life Savings Fund
Aditya Birla Sun Life Savings Fund
Growth Launch Date 16 Apr 03 NAV (30 Oct 26) ₹594.806 ↑ 0.12 (0.02 %) Net Assets (Cr) ₹16,279 on 30 Sep 26 Category Debt - Ultrashort Bond AMC Birla Sun Life Asset Management Co Ltd Rating ☆☆☆☆☆ Risk Moderately Low Expense Ratio 0.57 Sharpe Ratio 0.96 Information Ratio 0 Alpha Ratio 0 Min Investment 1,000 Min SIP Investment 1,000 Exit Load NIL Yield to Maturity 7.61% Effective Maturity 7 Months 13 Days Modified Duration 6 Months 7 Days Growth of 10,000 investment over the years.
Date Value 30 Sep 21 ₹10,000 30 Sep 22 ₹10,404 30 Sep 23 ₹11,140 30 Sep 24 ₹11,981 30 Sep 25 ₹12,919 30 Sep 26 ₹13,735 Returns for Aditya Birla Sun Life Savings Fund
absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 30 Oct 26 Duration Returns 1 Month 0.3% 3 Month 1.4% 6 Month 3.1% 1 Year 6.1% 3 Year 7.2% 5 Year 6.6% 10 Year 15 Year Since launch 7.4% Historical performance (Yearly) on absolute basis
Year Returns 2025 7.4% 2024 7.9% 2023 7.2% 2022 4.8% 2021 3.9% 2020 7% 2019 8.5% 2018 7.6% 2017 7.2% 2016 9.2% Fund Manager information for Aditya Birla Sun Life Savings Fund
Name Since Tenure Sunaina Cunha 20 Jun 14 12.29 Yr. Kaustubh Gupta 15 Jul 11 15.22 Yr. Monika Gandhi 22 Mar 21 5.53 Yr. Data below for Aditya Birla Sun Life Savings Fund as on 30 Sep 26
Asset Allocation
Asset Class Value Cash 34.27% Debt 65.73% Debt Sector Allocation
Sector Value Corporate 72.11% Government 17.86% Cash Equivalent 10.03% Credit Quality
Rating Value AA 38.56% AAA 61.44% Top Securities Holdings / Portfolio
Name Holding Value Quantity National Bank for Agriculture and Rural Development
Domestic Bonds | -5% ₹743 Cr 15,300 Shriram Finance Limited
Debentures | -3% ₹529 Cr 52,500 Vedanta Limited
Debentures | -3% ₹449 Cr 44,500 Bharti Telecom Limited
Debentures | -3% ₹396 Cr 40,000 Muthoot Finance Limited
Debentures | -2% ₹322 Cr 32,500 Mankind Pharma Limited
Debentures | -2% ₹320 Cr 32,000
↑ 32,000 Adani Airport Holdings Limited
Debentures | -2% ₹296 Cr 30,000 AU Small Finance Bank Ltd.
Debentures | -2% ₹294 Cr 6,000 Avanse Financial Services Limited
Debentures | -2% ₹293 Cr 29,500
↓ -500 Piramal Finance Limited
Debentures | -2% ₹280 Cr 28,000 2. ICICI Prudential Ultra Short Term Fund
ICICI Prudential Ultra Short Term Fund
Growth Launch Date 3 May 11 NAV (30 Oct 26) ₹29.9844 ↑ 0.01 (0.02 %) Net Assets (Cr) ₹15,236 on 30 Sep 26 Category Debt - Ultrashort Bond AMC ICICI Prudential Asset Management Company Limited Rating ☆☆☆ Risk Moderate Expense Ratio 0.78 Sharpe Ratio 0.96 Information Ratio 0 Alpha Ratio 0 Min Investment 5,000 Min SIP Investment 1,000 Exit Load 0-1 Months (0.5%),1 Months and above(NIL) Yield to Maturity 7.37% Effective Maturity 1 Year 3 Months 18 Days Modified Duration 10 Months 17 Days Growth of 10,000 investment over the years.
Date Value 30 Sep 21 ₹10,000 30 Sep 22 ₹10,388 30 Sep 23 ₹11,095 30 Sep 24 ₹11,911 30 Sep 25 ₹12,789 30 Sep 26 ₹13,586 Returns for ICICI Prudential Ultra Short Term Fund
absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 30 Oct 26 Duration Returns 1 Month 0.3% 3 Month 1.3% 6 Month 3% 1 Year 6% 3 Year 6.9% 5 Year 6.3% 10 Year 15 Year Since launch 7.3% Historical performance (Yearly) on absolute basis
Year Returns 2025 7.1% 2024 7.5% 2023 6.9% 2022 4.5% 2021 4% 2020 6.5% 2019 8.4% 2018 7.5% 2017 6.9% 2016 9.8% Fund Manager information for ICICI Prudential Ultra Short Term Fund
Name Since Tenure Manish Banthia 15 Nov 16 9.88 Yr. Ritesh Lunawat 15 Jun 17 9.3 Yr. Data below for ICICI Prudential Ultra Short Term Fund as on 30 Sep 26
Asset Allocation
Asset Class Value Cash 80.95% Debt 18.72% Other 0.33% Debt Sector Allocation
Sector Value Corporate 60.66% Cash Equivalent 51.48% Credit Quality
Rating Value AA 18.98% AAA 81.02% Top Securities Holdings / Portfolio
Name Holding Value Quantity National Bank For Agriculture And Rural Development
Debentures | -3% ₹422 Cr 42,500
↑ 5,000 Small Industries Development Bank Of India
Debentures | -2% ₹349 Cr 35,000 Vedanta Limited
Debentures | -2% ₹317 Cr 31,500 6.17% Govt Stock 2028
Sovereign Bonds | -2% ₹310 Cr 30,773,600 National Bank For Agriculture And Rural Development
Debentures | -2% ₹305 Cr 30,500 RADHAKRISHNA SECURITISATION TRUST
Unlisted bonds | -2% ₹262 Cr 275 AU Small Finance Bank Ltd.
Debentures | -2% ₹247 Cr 5,000 Piramal Finance Limited
Debentures | -2% ₹230 Cr 23,000 Muthoot Finance Limited
Debentures | -2% ₹225 Cr 22,500 Ultratech Cement Limited
Debentures | -1% ₹219 Cr 22,000 3. UTI Ultra Short Term Fund
UTI Ultra Short Term Fund
Growth Launch Date 29 Aug 03 NAV (30 Oct 26) ₹4,572.99 ↑ 0.95 (0.02 %) Net Assets (Cr) ₹3,017 on 30 Sep 26 Category Debt - Ultrashort Bond AMC UTI Asset Management Company Ltd Rating ☆☆☆☆ Risk Moderately Low Expense Ratio 0.93 Sharpe Ratio 0.65 Information Ratio 0 Alpha Ratio 0 Min Investment 5,000 Min SIP Investment 500 Exit Load NIL Yield to Maturity 7.29% Effective Maturity 6 Months 15 Days Modified Duration 5 Months 10 Days Growth of 10,000 investment over the years.
Date Value 30 Sep 21 ₹10,000 30 Sep 22 ₹10,360 30 Sep 23 ₹11,043 30 Sep 24 ₹11,830 30 Sep 25 ₹12,653 30 Sep 26 ₹13,409 Returns for UTI Ultra Short Term Fund
absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 30 Oct 26 Duration Returns 1 Month 0.3% 3 Month 1.3% 6 Month 3% 1 Year 5.8% 3 Year 6.6% 5 Year 6% 10 Year 15 Year Since launch 6.8% Historical performance (Yearly) on absolute basis
Year Returns 2025 6.6% 2024 7.2% 2023 6.7% 2022 4.2% 2021 6.1% 2020 5.3% 2019 3.3% 2018 7% 2017 6.6% 2016 8.9% Fund Manager information for UTI Ultra Short Term Fund
Name Since Tenure Anurag Mittal 21 Jul 26 0.2 Yr. Data below for UTI Ultra Short Term Fund as on 30 Sep 26
Asset Allocation
Asset Class Value Cash 55.99% Debt 43.58% Other 0.43% Debt Sector Allocation
Sector Value Corporate 66.98% Cash Equivalent 17.94% Government 14.64% Credit Quality
Rating Value AA 27.68% AAA 72.32% Top Securities Holdings / Portfolio
Name Holding Value Quantity 26/11/2026 Maturing 364 DTB
Sovereign Bonds | -6% ₹199 Cr 2,000,000,000 HDFC Bank Ltd.
Debentures | -5% ₹147 Cr 1,500,000,000 Axis Bank Ltd.
Debentures | -5% ₹146 Cr 1,500,000,000 Godrej Properties Limited
Debentures | -3% ₹90 Cr 9,000 Nuvama Wealth Finance Limited
Debentures | -2% ₹75 Cr 7,500 360 One Prime Limited
Debentures | -2% ₹75 Cr 7,500 Poonawalla Fincorp Limited
Debentures | -2% ₹75 Cr 7,500 Ujjivan Small Finance Bank Limited
Debentures | -2% ₹74 Cr 750,000,000 Aditya Birla Renewables Limited
Debentures | -2% ₹65 Cr 6,500 Piramal Finance Limited
Debentures | -2% ₹60 Cr 6,000 4. Kotak Savings Fund
Kotak Savings Fund
Growth Launch Date 13 Aug 04 NAV (30 Oct 26) ₹46.2685 ↑ 0.00 (0.01 %) Net Assets (Cr) ₹15,261 on 30 Sep 26 Category Debt - Ultrashort Bond AMC Kotak Mahindra Asset Management Co Ltd Rating ☆☆☆ Risk Moderately Low Expense Ratio 0.81 Sharpe Ratio 0.59 Information Ratio 0 Alpha Ratio 0 Min Investment 5,000 Min SIP Investment 1,000 Exit Load NIL Yield to Maturity 7.24% Effective Maturity 5 Months 26 Days Modified Duration 4 Months 17 Days Growth of 10,000 investment over the years.
Date Value 30 Sep 21 ₹10,000 30 Sep 22 ₹10,371 30 Sep 23 ₹11,070 30 Sep 24 ₹11,857 30 Sep 25 ₹12,696 30 Sep 26 ₹13,459 Returns for Kotak Savings Fund
absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 30 Oct 26 Duration Returns 1 Month 0.3% 3 Month 1.2% 6 Month 2.8% 1 Year 5.8% 3 Year 6.6% 5 Year 6.1% 10 Year 15 Year Since launch 7.1% Historical performance (Yearly) on absolute basis
Year Returns 2025 6.8% 2024 7.2% 2023 6.8% 2022 4.5% 2021 3.2% 2020 5.8% 2019 7.8% 2018 7.4% 2017 6.7% 2016 8.2% Fund Manager information for Kotak Savings Fund
Name Since Tenure Deepak Agrawal 7 Sep 26 0.07 Yr. Manu Sharma 7 Sep 26 0.07 Yr. Data below for Kotak Savings Fund as on 30 Sep 26
Asset Allocation
Asset Class Value Cash 55.8% Debt 43.9% Other 0.31% Debt Sector Allocation
Sector Value Corporate 57.01% Cash Equivalent 22.28% Government 20.41% Credit Quality
Rating Value AA 19.77% AAA 80.23% Top Securities Holdings / Portfolio
Name Holding Value Quantity National Bank For Agriculture And Rural Development
Debentures | -4% ₹575 Cr 57,500 India (Republic of)
- | -3% ₹515 Cr 52,490,600 Tamil Nadu (Government of) 0.0654%
- | -3% ₹442 Cr 45,000,000 Mankind Pharma Limited
Debentures | -2% ₹300 Cr 30,000
↑ 30,000 Muthoot Finance Limited
Debentures | -2% ₹295 Cr 30,000 6.9% Maharashtra Sgs 2030
Sovereign Bonds | -2% ₹295 Cr 30,000,000 India (Republic of)
- | -2% ₹248 Cr 25,000,000 Vedanta Aluminium Metal Limited
Debentures | -1% ₹200 Cr 20,000 Poonawalla Fincorp Limited
Debentures | -1% ₹199 Cr 20,000 RADHAKRISHNA SECURITISATION TRUST
Unlisted bonds | -1% ₹199 Cr 210 5. DSP Money Manager Fund
DSP Money Manager Fund
Growth Launch Date 31 Jul 06 NAV (30 Oct 26) ₹3,668.99 ↑ 0.56 (0.02 %) Net Assets (Cr) ₹4,425 on 30 Sep 26 Category Debt - Ultrashort Bond AMC DSP BlackRock Invmt Managers Pvt. Ltd. Rating ☆☆ Risk Moderately Low Expense Ratio 1.02 Sharpe Ratio 0.44 Information Ratio 0 Alpha Ratio 0 Min Investment 1,000 Min SIP Investment 500 Exit Load NIL Yield to Maturity 7.12% Effective Maturity 2 Months 5 Days Modified Duration 6 Months 22 Days Growth of 10,000 investment over the years.
Date Value 30 Sep 21 ₹10,000 30 Sep 22 ₹10,330 30 Sep 23 ₹10,992 30 Sep 24 ₹11,763 30 Sep 25 ₹12,585 30 Sep 26 ₹13,328 Returns for DSP Money Manager Fund
absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 30 Oct 26 Duration Returns 1 Month 0.2% 3 Month 1.2% 6 Month 2.8% 1 Year 5.7% 3 Year 6.5% 5 Year 5.9% 10 Year 15 Year Since launch 6.6% Historical performance (Yearly) on absolute basis
Year Returns 2025 6.7% 2024 6.9% 2023 6.7% 2022 4.1% 2021 2.9% 2020 4.7% 2019 7.3% 2018 5% 2017 6% 2016 7.5% Fund Manager information for DSP Money Manager Fund
Name Since Tenure Karan Mundhra 31 May 21 5.34 Yr. Shalini Vasanta 1 Jan 25 1.75 Yr. Data below for DSP Money Manager Fund as on 30 Sep 26
Asset Allocation
Asset Class Value Cash 50.06% Debt 49.94% Debt Sector Allocation
Sector Value Corporate 61.31% Cash Equivalent 19.51% Government 19.19% Credit Quality
Rating Value AA 18.09% AAA 81.91% Top Securities Holdings / Portfolio
Name Holding Value Quantity Cholamandalam Investment And Finance Company Limited
Debentures | -2% ₹102 Cr 10,000
↑ 10,000 India (Republic of)
- | -2% ₹98 Cr 10,000,000
↑ 10,000,000 182 Days T-Bill 18032027
Sovereign Bonds | -2% ₹97 Cr 10,000,000 LIC Housing Finance Ltd
Debentures | -2% ₹87 Cr 850 Cholamandalam Investment And Finance Company Limited
Debentures | -2% ₹81 Cr 8,000 360 One Prime Limited
Debentures | -2% ₹77 Cr 7,500 Aditya Birla Renewables Limited
Debentures | -2% ₹75 Cr 7,500 6.38% Maharashtra Sdl 2027
Sovereign Bonds | -2% ₹75 Cr 7,500,000 National Bank for Agriculture and Rural Development
Domestic Bonds | -2% ₹73 Cr 1,500 Indian Bank
Domestic Bonds | -2% ₹71 Cr 1,500
Conclusion
To conclude, it can be said that both ultra short term funds and liquid funds have their own set of characteristics. However, people while choosing any scheme should check and ensure whether the scheme is in-line with their determined objective. They should also check the modalities of the scheme completely. Moreover, they may even consult a financial advisor if required to ensure that their investment helps them to attain their desired objectives.
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.
AMFI Registration No. 112358 | CIN: U74999MH2016PTC282153
Shepard Technologies Pvt. Ltd. (with ARN code 112358) makes no warranties or representations, express or implied, on products offered through the platform. It accepts no liability for any damages or losses, however caused, in connection with the use of, or on the reliance of its product or related services. Terms and conditions of the website are applicable.
©2026 Shepard Technologies Private Limited. All Rights Reserved
Great alternative for FD - Fixed Deposit Investment. Nice article explains each fund very well.