September 14, 2022
mayank
Mirae Asset Money Market Fund
NAV Growth : Rs 1,044.1540
NAV IDCW : Rs 1,043.4282
Suitable For Which Investors ?
“Money Market debt funds invest in bonds with a maturity of up to one year. They aim to earn slightly better returns than what you can get from a bank account or a short duration fixed deposit. The risk of incurring a loss in these funds over the said timeframe is low but they do not guarantee returns or safety of capital.
Such funds are usually more suited to institutional investors. Retail investors can avoid these funds altogether. Here’s why. Debt funds are very finely classified depending upon the maturity of the bonds they invest in. For instance, there’s a different category of funds that invests in bonds of up to three months maturity, from the one that invests in bonds maturing in three to six months, and so on. We believe that such a nuanced classification adds little value to retail investors. They can avoid this complexity and simply invest the money they don’t need for up to a year in a Liquid fund.
If you do decide to invest in them, remember that these funds usually deliver low returns which are only marginally higher than your bank account. They are not suitable if your aim is to build wealth in the long run.”
Fund’s Investment Strategy :
The scheme seeks to generate reasonable returns with low risk and provide liquidity by investing in money market instruments.
Fund Manager :
1) Mahendra Kumar Jajoo
Education : Mr. Jajoo is a B.Com (H), CS, Chartered Accountant and CFA.
Experience : Prior to joining Mirae Asset Mutual Fund he was Director with AUM Capital Markets Ltd. and also been associated with organisations like PGIM India Mutual Fund, Tata Asset Management Company, BNP Paribas Asset Management India Pvt. Ltd., ABN Amro Securities India Pvt. Ltd. and ICICI Group.
Investment Details
| Min. Investment (Rs) : | 5,000 |
| Min. Addl Investment (Rs) : | 1,000 |
| Min. SIP Investment (Rs) : | 1,000 |
| Min. Withdrawal (Rs) : | — |
| Min. No of Cheques : | 5 |
| Min. Balance (Rs) : | — |
| Lock-in Period : | NA |
| Exit Load : | 0 |
Basic Details
| Fund House : | Mirae Asset Mutual Fund |
| Launch Date : | 11-Aug-21 |
| Return Since Launch : | 4.04% |
| Benchmark : | NIFTY Money Market Index B-I |
| Riskometer : | Low to Moderate |
| Type : | Open-ended |
| Assets : | Rs 61 Cr |
| (As on 31-Aug-2022) | |
| Expense Ratio : | 0.25% |
| (As on 31-Jul-2022) | |
| Risk Grade : | — |
| Return Grade : | — |
Mirae Asset Money Market Fund Trailing Returns (%)
| Fund name | YTD | 1D | 1M | 3M | 6M | 1Y | 3Y | 5Y | 7Y | 10Y |
| Mirae Asset Money Mkt Dir | 3.02 | 0.01 | 0.47 | 1.3 | 2.32 | 4.05 | — | — | — | — |
| CCIL T Bill Liquidity Weight | 1.47 | 0.01 | 0.19 | 0.75 | 1.09 | 2.06 | — | — | — | — |
| Debt: Money Market | 2.92 | 0.01 | 0.49 | 1.37 | 2.19 | 3.97 | — | — | — | — |
| Rank within category | 9 | 4 | 18 | 16 | 6 | 10 | — | — | — | — |
| Number of funds in category | 20 | 22 | 21 | 20 | 20 | 20 | 16 | 12 | 12 | 0 |
Mirae Asset Money Market Fund Peer Comparison
| Fund name | Rating | 1 Year Returns | 3 Year Returns | 5 Year Returns | Expense Ratio (%) | Net Assets (Rs Cr) | Return Since Launch (%) | Exit Load (Days) | Fund Age |
| Mirae Asset Money Mkt Dir | Unrated | 4.05 | — | — | 0.25 | 61 | 4.04 | — | 1yrs 1mo |
| ABSL Money Manager Dir | 4 star | 4.18 | 5.22 | 6.4 | 0.21 | 14,500 | 7.39 | — | 9yrs 8mo |
| HDFC Money Mkt Dir | 4 star | 4.14 | 5.21 | 6.3 | 0.21 | 13,662 | 7.28 | — | 9yrs 8mo |
| Nippon Ind Money Mkt Dir | 5 star | 4.31 | 5.06 | 6.26 | 0.17 | 10,728 | 7.27 | — | 9yrs 8mo |
| Tata Money Mkt Dir | 5 star | 4.24 | 5.23 | 4.77 | 0.17 | 8,310 | 6.48 | — | 9yrs 8mo |
Peer Comparison
| Fund | Category | |
| Number of Securities | 12 | 46 |
| Modified Duration (yrs) | 0.42 | 0.39 |
| Average Maturity (yrs) | 0.42 | 0.40 |
| Yield to Maturity (%) | 5.92 | 6.13 |
| Avg Credit Rating | AAA | — |
Mirae Asset Money Market Fund by Chanakya :
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