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Five Best Performing Money Market Funds to Invest in

Highlights

  • Want to invest in money market funds that invest in debt securities having maturities upto a year?
  • The list of top-performing money market funds is shown here, so read and choose!

Money market funds are open-ended debt funds that invest in debt securities such as treasury bills, commercial papers and certificates of deposit. These funds buy securities with maturities ranging between three months to a year. To know more about money market funds and should you invest, you can read another post of ours – https://www.wishfin.com/mutual-fund/money-market-debt-funds-definition-and-should-you-invest-in-them/.

Top Mutual Funds to Invest in Now

Best Performing Money Market Funds

Aditya Birla Sun Life Money Manager

This fund is offered by Aditya Birla Sunlife Mutual Fund. These are the key points to know about this fund.

  • This fund was launched on 10th October 2005 and has delivered 8.01% annualized returns since launch.
  • The fund manages an AUM of INR 8,422 crores.
  • The benchmark is the Nifty Money market index and the fund is rated five stars by Value Research.
  • The fund has 67 debt securities with an average maturity of 0.70 years and a yield to maturity of 4.91%
  • The portfolio is of high quality and comprises all A1+ rated securities.

HDFC Money Market Fund

This fund is offered by HDFC Mutual Fund. These are the key points to know about this fund.

  • This fund was launched on 18th Nov 1999 and has delivered 7.53% annualized returns since launch.
  • The fund manages an AUM of INR 7,592 crores.
  • The benchmark is the Nifty Money market index and the fund is rated three stars by Value Research.
  • The fund has 37 debt securities with an average maturity of 0.65 years and a yield to maturity of 4.76%
  • The portfolio is of high quality and comprises all A1+ rated securities.
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ICICI Prudential Money Market Fund

This fund is offered by ICICI Prudential Mutual Fund. These are the key points to know about this fund.

  • This fund was launched on 9th March 2006 and has delivered 7.57% annualized returns since launch.
  • The fund manages an AUM of INR 6,849 crores.
  • The benchmark is the Nifty Money Market Index and the fund is rated three stars by Value Research.
  • The fund has 41 debt securities.
  • The portfolio is of high quality and comprises all A1+ rated securities.

L&T Money Market Fund

This fund is offered by L&T Mutual Fund. These are the key points to know about this fund.

  • This fund was launched on 10th Aug 2005 and has delivered 7.76% annualized returns since launch.
  • The fund manages an AUM of INR 1,112 crores.
  • The benchmark is the Nifty Money Market Index and the fund is rated four stars by Value Research.
  • The fund has 27 debt securities with an average maturity of 0.46 years and a yield to maturity of 4.24%.
  • The portfolio is of high quality and comprises all A1+ rated securities.

Tata Money Market Fund

This fund is offered by Tata Mutual Fund. These are the key points to know about this fund.

  • This fund was launched on 22nd May 2003 and has delivered 6.97% annualized returns since launch.
  • The fund manages an AUM of INR 287 crores.
  • The benchmark is the CRISIL Market Index and the fund is rated four stars by Value Research.
  • The fund has 11 debt securities with an average maturity of 0.61 years and a yield to maturity of 4.70%.
  • The portfolio is of high quality and comprises all A1+ rated securities.
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Returns of Money Market Funds

The table below shows the returns* from these funds in % terms for a regular plan.

Fund NameLast 6 MonthsLast 1 YearLast 3 Years
Aditya Birla Money4.218.097.85
HDFC Money4.208.167.64
ICICI Money3.977.767.61
L&T Money3.629.247.56
Tata Money4.047.735.06

*These returns are dated 29th June 2020.

If you are looking to invest for a one to two-year time horizon, you can also look at short term debt funds which, in a falling interest rate scenario like the present, should do well.

To know more about short term debt funds and the best short term debt funds to invest, you can read another post of ours- https://www.wishfin.com/mutual-fund/three-best-short-duration-funds-to-invest-in/

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