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Top Money Market Mutual Funds of 2024

mutual-fund-image
Jun 14, 2024
5 Mins

Money Market Mutual Funds are debt funds that lend to companies for a period of up to 1 year. These Funds are designed in a manner that allows the fund manager to generate higher returns while keeping risk under control through adjustment of lending duration.

Higher loan tenure usually comes with higher returns. Money Market Funds are ideal for an investment horizon of at least 3-6 months as they have low chances of loss if someone stays invested for 6+ months. These schemes tend to give better returns than Bank Fixed Deposits of similar duration.

Some of the top Money Market Funds in 2024 are Nippon India Money Market Fund, UTI Money Market Fund, HDFC Money Market Fund, Aditya Birla Sun Life Money Manager Fund, and Kotak Money Market Fund. It is recommended to stay invested in Money Market Mutual Funds for at least 1 year.

Money Market Funds invest in short-term debt instruments like Treasury Bills, Commercial Papers, and Certificates of Deposit, among others. Although Money Market Funds carry lower risk compared to other debt funds, there is still some level of risk involved.

The returns from Money Market Mutual Funds vary depending on market conditions. As of now, the average returns from Money Market Funds over the past 5 years are around 6.25% p.a. However, it is important to note that past performance is not indicative of future results.

It is always advisable to consult with a financial advisor or conduct thorough research before investing in any mutual fund.

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Invest Smarter, Here's how to achieve Your Dreams 80% Faster - Let’s Get Started!Trusted by 3 Crore+ Indians
Dream Home
Dream Wedding
Dream Car
Retirement
1st Crore
credit-cards

Top Money Market Mutual Funds of 2024

mutual-fund-image
Jun 14, 2024
5 Mins

Money Market Mutual Funds are debt funds that lend to companies for a period of up to 1 year. These Funds are designed in a manner that allows the fund manager to generate higher returns while keeping risk under control through adjustment of lending duration.

Higher loan tenure usually comes with higher returns. Money Market Funds are ideal for an investment horizon of at least 3-6 months as they have low chances of loss if someone stays invested for 6+ months. These schemes tend to give better returns than Bank Fixed Deposits of similar duration.

Some of the top Money Market Funds in 2024 are Nippon India Money Market Fund, UTI Money Market Fund, HDFC Money Market Fund, Aditya Birla Sun Life Money Manager Fund, and Kotak Money Market Fund. It is recommended to stay invested in Money Market Mutual Funds for at least 1 year.

Money Market Funds invest in short-term debt instruments like Treasury Bills, Commercial Papers, and Certificates of Deposit, among others. Although Money Market Funds carry lower risk compared to other debt funds, there is still some level of risk involved.

The returns from Money Market Mutual Funds vary depending on market conditions. As of now, the average returns from Money Market Funds over the past 5 years are around 6.25% p.a. However, it is important to note that past performance is not indicative of future results.

It is always advisable to consult with a financial advisor or conduct thorough research before investing in any mutual fund.

Available on both IOS and AndroidTry Pluto Money Today 👇
Author
Team Pluto
Have a question?
Digital GoldInvest in 24K Gold with Zero making ChargesLearn More
Digital SilverInvest in silver with Zero making ChargesLearn More
Pluto FixedEarn from 11% to 14% Returns annually in a fixed lock-in periodLearn More