This 4-star rated fund turns 23 years, SIP of ₹10,000 grown to ₹67 lakh

An open-ended debt fund, the HDFC Money Market Fund invests in cash market securities together with industrial papers, certificates of deposits, industrial payments, Treasury payments, and authorities securities for a complete maturity of lower than one yr. The fund has been rated 4-star by Morningstar and 3-star by Value Research. The fund has now functioned for 23 years since being launched on November 18, 1999. The funding technique employs cash market merchandise with a most one-year maturity. Money market securities have durations of lower than a yr, subsequently the scheme has a minimal rate of interest danger and, because the fund home recommends, is greatest fitted to an funding time period of three to twelve months. Let’s now study how the fund has completed in the course of the course of its existence primarily based on returns documented as of October 31, 2022, offered that the fund has offered a CAGR of 7.06% since inception.

Performance of HDFC Money Market Fund

Your complete funding of Rs. 1.20 lakh would have turn into Rs. 1.23 lakh if Rs. 10,000 had been invested via a SIP on this fund all through the earlier yr, thanks to the fund’s 4.41% return. A month-to-month SIP of 10,000 would have enhanced your complete funding of 3.60 lakh to 3.85 lakh in accordance to the fund’s three-year return of 4.36%. A month-to-month SIP of 10,000 would have grown your complete funding of 6.00 lakh to 6.86 lakh due to the fund’s 5-year return of 5.30%.

The fund has given a return of 6.36% within the final 10 years, therefore a month-to-month SIP of 10,000 would have turned your complete funding of 12 lakh into 16.63 lakh. A month-to-month SIP of 10,000 would have transformed your complete funding of 18 lakh into 31.20 lakh contemplating the fund’s 15-year return of 6.97%. Your complete funding of 27.60 lakh would have turn into 67.09 lakh with a month-to-month SIP of 10,000 primarily based on the fund’s return of 7.06% since inception.

HDFC Money Market Fund (hdfcfund.com)

Key particulars of HDFC Money Market Fund

As on October 31, 2022, the fund recorded a complete AUM of 13,947.34 Cr and a mean AUM for the month of October 2022 of 13,530.49 Cr. The fund is managed by Vikash Agarwal (since July 1, 2020) having a complete expertise of over 16 years. As on October 31, 2022, the common plan posted a NAV of 4704.03 and the direct plan recorded a NAV of 4775.32. The fund is benchmarked in opposition to NIFTY Money Market Index B-I and the fund’s further benchmarked index is CRISIL 1 yr T-Bill Index.

The fund’s high 5 holdings are Reserve Bank of India, Small Industries Development Bank of India Ltd., LIC Housing Finance Ltd., Axis Bank Ltd., and Canara Bank and the fund has an expense ratio of 0.21% for direct plan and 0.41% for normal plan. The fund’s portfolio classification by asset class is allotted 19.16% into G-Sec STRIPS, SDL, T-Bills, 45.60% into CP, 29.19% into CD and 6.05% into Cash, Cash Equivalents and Net Current Assets.

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