Best Money Market Funds

Best Money Market Funds

The table below shows the Best Money Market Funds based on AUM, NAV, and minimum SIP. 

NameAUMMinimum Lump SumNAV
SBI Savings Fund19387.50500.0039.11
HDFC Money Market Fund17088.23100.005124.06
Kotak Money Market Fund15748.10100.003984.64
ICICI Pru Money Market Fund15516.20500.00337.65
Aditya Birla SL Money Manager Fund15103.341000.00329.32
Tata Money Market Fund14824.675000.004217.69
Nippon India Money Market Fund11608.96500.003692.86
UTI Money Market Fund10839.36500.002743.36
Axis Money Market Fund7785.135000.001268.02
DSP Savings Fund4981.89100.0047.86

Contents:

Top Money Market Funds

The table below shows the Top Money Market Funds based on lowest to highest expense ratio. 

NameExpense Ratio
Franklin India Money Market Fund0.09
PGIM India Money Market Fund0.15
TRUSTMF Money Market Fund0.16
Tata Money Market Fund0.17
Axis Money Market Fund0.17
LIC MF Money Market Fund0.18
UTI Money Market Fund0.20
ICICI Pru Money Market Fund0.21
Aditya Birla SL Money Manager Fund0.21
Bandhan Money Manager Fund0.22

Best Performing Money Market Funds

The table below shows Best Performing Money Market Funds based on Highest 3Y CAGR.

NameCAGR 3Y
Tata Money Market Fund5.38
Aditya Birla SL Money Manager Fund5.27
Nippon India Money Market Fund5.27
Axis Money Market Fund5.23
UTI Money Market Fund5.22
HDFC Money Market Fund5.21
PGIM India Money Market Fund5.18
SBI Savings Fund5.17
Kotak Money Market Fund5.16
ICICI Pru Money Market Fund5.14

Top Money Market Mutual Funds

The table below shows Top Money Market Mutual Funds based on exit load i.e. the fee that the AMC charges investors when exiting or redeeming their fund units.

NameExit LoadAMC
HDFC Money Market Fund0.00HDFC Asset Management Company Limited
PGIM India Money Market Fund0.00PGIM India Asset Management Private Limited
Kotak Money Market Fund0.00Kotak Mahindra Asset Management Company Limited
ICICI Pru Money Market Fund0.00ICICI Prudential Asset Management Company Limited
Bandhan Money Manager Fund0.00Bandhan AMC Limited
Franklin India Money Market Fund0.00Franklin Templeton Asset Management (India) Private Limited
Invesco India Money Market Fund0.00Invesco Asset Management Company Pvt Ltd.
DSP Savings Fund0.00DSP Investment Managers Private Limited
HSBC Money Market Fund0.00HSBC Global Asset Management (India) Private Limited
Edelweiss Money Market Fund0.00Edelweiss Asset Management Limited

Best Money Market Funds India

The table below shows the Best Money Market Funds in India based on Absolute 1 Year Return and AMC. 

NameAbsolute Returns – 1YAMC
Tata Money Market Fund7.66Tata Asset Management Private Limited
Aditya Birla SL Money Manager Fund7.60Aditya Birla Sun Life AMC Limited
Axis Money Market Fund7.55Axis Asset Management Company Ltd.
UTI Money Market Fund7.52UTI Asset Management Company Private Limited
Nippon India Money Market Fund7.52Nippon Life India Asset Management Limited
HDFC Money Market Fund7.51HDFC Asset Management Company Limited
SBI Savings Fund7.48SBI Funds Management Limited
PGIM India Money Market Fund7.47PGIM India Asset Management Private Limited
Franklin India Money Market Fund7.46Franklin Templeton Asset Management (India) Private Limited
ICICI Pru Money Market Fund7.46ICICI Prudential Asset Management Company Limited

Best Money Market Funds- FAQs  

1. What are the best money market funds right now?

Best Money Market Funds  #1: Aditya Birla SL Money Manager Fund
Best Money Market Funds  #2: HDFC Money Market Fund
Best Money Market Funds  #3: SBI Savings Fund
Best Money Market Funds  #4: Kotak Money Market Fund
Best Money Market Funds  #5: ICICI Pru Money Market Fund

These funds are listed based on the Highest AUM.

2. Is a Money Market Fund safe?

Due to their relatively low risk and easy accessibility, money market funds are favored for short-term cash management and capital preservation.

3. How to invest in MMF?

Step 1: Log in to your Alice Blue Mutual Fund account.

Step 2: Go to the Mutual Funds section.

Step 3: Find the specific Mutual Fund you intend to invest in.

Step 4: Choose the desired Mutual Fund and click on either the “Buy Direct” or “Direct SIP” button.

Step 5: Specify the amount you wish to invest.

Step 6: Your order will now be added to your “Cart”.

Step 7: Access the “Cart”, select the funds by checking the respective boxes, and provide necessary details such as payment type and other required information.

Step 8: Review your order details and confirm the investment.

4. What is the safest type of money market fund?

These funds are categorized based on the highest Compound Annual Growth Rate (CAGR) over the past three years.

NameCAGR 3Y
Tata Money Market Fund6.06
Nippon India Money Market Fund5.97
Aditya Birla SL Money Manager Fund5.97
Axis Money Market Fund5.92
UTI Money Market Fund5.91

5. What is the best way to invest in the money market?

Money market funds are accessible for investors with a 90-365 day investment horizon. These funds facilitate portfolio diversification and enable the investment of excess cash while ensuring liquidity. It is essential to align your investments with your predetermined investment strategy.

Introduction to Best Money Market Funds

Best Money Market Funds  – AUM, NAV

SBI Savings Fund

The SBI Savings Fund-Growth, offered by SBI Mutual Fund, is a money market mutual fund scheme that has been operational for 19 years and 3 months. Currently, it manages assets worth ₹19387 crores.

HDFC Money Market Fund

The HDFC Money Market Fund Direct Plan-Growth, provided by HDFC Mutual Fund, is a money market mutual fund scheme with a tenure of 10 years and 9 months. Presently, it oversees assets totaling ₹17088 crores.

Kotak Money Market Fund

The Kotak Money Market Fund Direct-Growth, offered by Kotak Mahindra Mutual Fund, has a tenure of 10 years and 9 months. Currently, it manages assets worth ₹15748 crores.

Top Money Market Funds – Expense Ratio

TRUSTMF Money Market Fund

The TRUSTMF Money Market Fund Direct – Growth, provided by Trust Mutual Fund, is a money market mutual fund scheme with a duration of 1 year and 2 months. It boasts an expense ratio of 0.16.

PGIM India Money Market Fund

The PGIM India Money Market Fund Direct – Growth, offered by PGIM India Mutual Fund, has a track record of 3 years and 7 months. It comes with an expense ratio of 0.15.

Franklin India Money Market Fund

The Franklin India Money Market Fund Direct-Growth, managed by Franklin Templeton Mutual Fund, has been active for 10 years and 9 months. It carries an expense ratio of 0.09.

Best Performing Money Market Funds – CAGR 3Y

Tata Money Market Fund

The Tata Money Market Fund Direct-Growth, offered by Tata Mutual Fund, has a tenure of 10 years and 9 months. It has achieved a Compound Annual Growth Rate (CAGR) of 5.38% over the past 3 years.

Aditya Birla SL Money Manager Fund

The Aditya Birla Sun Life Money Manager Fund-Growth, managed by Aditya Birla Sun Life Mutual Fund, has a history of 18 years. It has achieved a Compound Annual Growth Rate (CAGR) of 5.27% over the past 3 years.

Nippon India Money Market Fund

The Nippon India Money Market Fund Direct-Growth, offered by Nippon India Mutual Fund, has a tenure of 10 years and 9 months. It has achieved a Compound Annual Growth Rate (CAGR) of 5.27% over the past 3 years.

Top Money Market Mutual Funds – Exit Load 

Bandhan Money Manager Fund

The Bandhan Money Manager Fund Direct-Growth, managed by Bandhan Mutual Fund, has a tenure of 10 years and 9 months. Notably, it does not impose any exit load fees upon redemption.

Invesco India Money Market Fund

The Invesco India Money Market Fund Direct-Growth, offered by Invesco Mutual Fund, has a tenure of 10 years and 9 months. It is worth noting that this fund does not charge any exit load fees, making it convenient for investors to redeem their investments without any additional charges.

DSP Savings Fund

The DSP Equity Savings Fund Direct-Growth, managed by DSP Mutual Fund, has a history of 7 years and 7 months. Importantly, this fund does not impose any exit load fees, providing investors the flexibility to redeem their investments without incurring any additional charges.

Best Money Market Funds India – Absolute Returns – 1Y

Axis Money Market Fund

The Axis Money Market Fund Direct-Growth, offered by Axis Mutual Fund, has been operational for 4 years and 2 months. It has delivered an absolute return of 7.55% over the past year.

UTI Money Market Fund

The UTI Money Market Fund Direct-Growth, managed by UTI Mutual Fund, has a tenure of 10 years and 9 months. It has delivered an absolute return of 7.52% over the past year.

ICICI Pru Money Market Fund

The ICICI Prudential Money Market-Growth, offered by ICICI Prudential Mutual Fund, has a history of 17 years and 7 months. It has delivered an absolute return of 7.46% over the specified time period.

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Disclaimer: The above article is written for educational purposes, and the companies’ data mentioned in the article may change over time.

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