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This Money Market Fund Outperformed The Category Average, Given Up To 4.06% In 1 Year
Money market mutual funds, often known as money market funds, are financial instruments that allow people to earn income while avoiding the risks of the stock market. Here, we have given insights into one newly-launched money market mutual fund that has given good return performance since its inception. Check out the details below.
Axis Money Market Fund - Direct Plan-Growth
This Money Market fund was launched on 06th August 2019 by the Axis Mutual fund. It is an open-ended medium-sized fund of its category. Under the fund's Direct Plan-Growth scheme, its Asset Under Managed is stood at Rs 5348.63 Crore.
The recent declared NAV of this Fund dated 07th April 2022 is Rs 1152.84. The expense ratio of the scheme is 0.2%, which is slightly higher than its category average.
This fund has been rated 3-star by the CRISIL. On the risk meter, it is low to moderate risk. This fund has given average performance among its peer funds. The has been Managed by MR. Devang Shah, Mr Aditya Pagaria, and Mr Sachin Jain.
This fund is best suited for the investors who wish to park their money for short period or looking for a saving account alternative for the surplus money. The minimum investment amount required for this fund's scheme is Rs 5,000 and for Sip it is Rs 1,000.
Absolute And Annualised Returns
Lump-Sum Investment Returns
Since its inception, it has delivered 5.47% average annual returns.
| Investment Period | Absolute Returns | Annualised Returns | Category Avg |
|---|---|---|---|
| 1 Year | 4.06% | 4.06% | 3.91% |
| 2 Year | 9.83% | 4.80% | 4.57% |
| Since Inception | 15.28% | 5.47% | 6.42% |
SIP Returns
| SIP Period | Absolute Returns | Annualised Returns |
|---|---|---|
| 1 Year | 2.24% | 4.17% |
| 2 Year | 4.43% | 4.23% |
Portfolio
The fund has an 87.96 per cent debt exposure, with 13.86 per cent in government securities and 74.1 per cent in extremely low-risk assets. The fund's credit record is outstanding, suggesting that it has loaned to borrowers of high quality. Since most funds in this category lend to stronger borrowers, the risk of default is higher in this fund than in others in the category. HDFC Bank Ltd., Reserve Bank of India, Canara Bank, Reliance Retail Ventures Ltd., and L&T Finance Ltd. are among the fund's top holdings.
Disclaimer
Mutual fund investments are subject to market risk. Read all scheme-related documents, and Terms and Conditions carefully before investing. The above-mentioned information is purely informational and doesn't guarantee any return. The Greynium Information Technologies and the Author are not liable for any losses caused as a result of a decision based on the article.
