This is the Direct plan of JM Liquid Fund — bought from the fund house, with no distributor commission in its expense ratio. Income is distributed quarterly, which is why this NAV sits below the growth plan of the same fund.
NAV history
Scorecard
Not ratedHow this is computed
Each verdict is computed from this fund's own metrics against its sub-category — the number behind it is shown, not a black-box rating. Not rated — too few comparable Debt funds (same plan and option) to rank against yet.
Not enough Liquid Fund peers to rank yet
Volatility 0.2% (no category average yet)
0.2% expense (no category average yet)
100% of rolling 3Y windows were positive
Strengths & concerns
Generated from this fund's own numbers against its sub-category — each point names the figure behind it.
Strengths
- Consistent — positive in 100% of rolling 3-year windows
Concerns
No significant concerns identified.
Key Metrics
Scheme Info
DefinitionsPeriod returns (<1Y, absolute — not annualized)
DefinitionsAnnualized returns (≥1Y — CAGR)
DefinitionsAdvanced metrics — risk
Fund vs category average (Liquid Fund)
| Period | Fund | Category avg. | Diff |
|---|---|---|---|
| 1M abs | +0.45% | — | — |
| 3M abs | +1.53% | — | — |
| 6M abs | +3.25% | — | — |
| 1Y CAGR | +6.39% | — | — |
| 3Y CAGR | +6.86% | — | — |
| 5Y CAGR | +6.34% | — | — |
Category average across peers in Liquid Fund, same plan and option, excluding this fund. Under-1-year figures are absolute; 1Y and beyond are annualised (CAGR).
Not sure what a figure means? The glossary explains every metric, and the methodology shows the formulas.
Backtest this fund
What a SIP or one-time investment would have grown to over this fund’s real NAV history.
60 monthly installments of ₹10,000 into JM Liquid Fund, valued at the latest NAV. XIRR annualizes for each installment’s timing.
Calendar-year returns
What the fund actually returned in each year, not the smoothed average.
| Year | Fund | |
|---|---|---|
| 2026part | +4.95% | |
| 2025 | +6.52% | |
| 2024 | +7.34% | |
| 2023 | +7.12% | |
| 2022 | +4.89% | |
| 2021 | +3.39% | |
| 2020 | +4.05% | |
| 2019 | +6.68% | |
| 2018 | +7.50% | |
| 2017 | +6.84% |
January–December, from this fund's NAV history. Absolute return, not annualised. “part” marks a year the fund didn't run end to end — its first year, the current year so far, or one it stopped reporting in.
Taxation
Taxed as debtThis is a debt / non-equity fund. Since April 2023 there is no long-term or indexation benefit — every rupee of gain is added to your income and taxed at your income-tax slab rate, whatever the holding period.
Your income-tax slab — no LTCG or indexation benefit
Pick your slab to see the rate that applies to you.
Applies to capital gains on redemption. Excludes IDCW/dividend tax, STT, surcharge and cess, and pre-2018 equity grandfathering. For research only — consult a tax advisor before filing.
Asset allocation
As on 31 Aug 2026 · AMC disclosure- Debt85.49%
- Cash & Equivalents14.02%
- Other0.48%
Fund size over time
Quarterly average AUM · AMFIAt or near its largest, ₹2,597Cr in January - March 2026. Size matters most where the mandate is narrow — a large small-cap or a very large flexi-cap book is harder to move without moving the price.
Net flow is an estimate: AMFI publishes a quarterly average AUM, not a closing balance, and it covers every plan and option of this scheme together, so it is a read on direction and rough size rather than a cash-flow statement.
AMC Profile
JM Financial Mutual Fund is the asset management arm of the JM Financial group and is one of India's oldest private fund houses, launched in 1994 when the industry first opened to private managers.
Fund Managers
RFRuchi FozdarStart date not disclosed
Fund Manager Debt
BSC- Organic PGDBM Finance
Ms. Ruchi Fozdar has 12 years of rich experience in fixed income market with 7 years of asset management experience. JM Short Duration Fund; Prior to JM Financial Mutual Fund, she was associated with institutions like Reliance Nippon Life Insurance Co. Ltd. and Mahindra Manulife Mutual Fund.
JDJayant DhootStart date not disclosed
Fund Manager Debt
Chartered Accountant, Company Secretary, B.Com
Mr. Jayant Dhoot is a Chartered Accountant and a qualified Company Secretary with over 12 years of experience in fixed income markets as a Dealer. He has previously worked with Taurus Corporate Advisory Services Pvt. Ltd., Nuvama Wealth & Investment Ltd and NVS Brokerage Pvt. Ltd. He is the Co- Fund Manager for all the debt schemes.
KPKillol PandyaStart date not disclosed
Head of Fixed Income
B.Com, MMS (Finance)
Mr. Killol Pandya has more than 17 years of experience in the asset management industry. Before joining JM Financial Asset Management Limited, he was associated with Barclays Securities India Private Limited, Essel Mutual Fund and LIC Nomura Mutual Fund as a Debt Fund Manager.
Fund manager, benchmark and dealing terms from this scheme's SEBI-filed Scheme Information Document on AMFI. Each manager's qualifications and role are reconciled across every filing this fund house makes for them, including its Statement of Additional Information. Total AUM via AMFI.
Explore from here
JM Financial in the news
Headlines about the fund house, not this scheme in particular — highlights only; tap through to read the full story at the source.
JM Short Term Fund - Direct Plan Portfolio
The Economic Times · 4d ago
JM Flexi Cap Fund - Direct Plan Portfolio
The Economic Times · 4d ago
JM Medium to Long Term Fund - Direct Plan Portfolio
The Economic Times · 4d ago
JM Medium to Long Term Fund Portfolio
The Economic Times · 4d ago
JM Ultra Short to Short Term Fund Direct Plan-IDCW Fortnightly
The Economic Times · 4d ago
JM Medium to Long Term Fund-Growth
The Economic Times · 4d ago
JM Ultra Short to Short Term Fund Direct Plan-Bonus
The Economic Times · 4d ago
JM Mid Cap Fund - Direct Plan Fund info
The Economic Times · 4d ago
Returns and risk are computed from NAV history and may differ slightly from other portals due to methodology (rolling vs point-to-point, dividend treatment). For research only — not investment advice.
About Liquid funds
Liquid funds invest in very short-term debt (maturing within 91 days). They're used to park money for days or weeks — low risk and easy to redeem, but low return too.
Frequently asked questions
What is the NAV of JM Liquid Fund?
As of 05 Oct 2026, the NAV of JM Liquid Fund is ₹44.16 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.
What returns has JM Liquid Fund delivered?
JM Liquid Fund has returned +6.39% over 1 year, +6.86% per year over 3 years, +6.34% per year over 5 years and +6.86% per year since inception. Figures beyond one year are annualised (CAGR) and are computed from AMFI NAV history, so they may differ slightly from other portals.
What is the expense ratio of JM Liquid Fund?
JM Liquid Fund charges an expense ratio of 0.16% per year. This annual fee is already deducted from the NAV, so the returns you see are net of it.
What are the top holdings of JM Liquid Fund?
JM Liquid Fund's largest holdings are Canara Bank 15-SEP-2026 (5.7%), 91 Days Treasury Bill 19-Nov-2026 (5.7%), L&T Finance Limited 05-NOV-2026 (5.7%), Bank of Baroda 11-NOV-2026 (5.7%) and Power Finance Corporation Limited 18-NOV-2026 (5.7%). Holdings are disclosed monthly and change over time.
How risky is JM Liquid Fund?
JM Liquid Fund is rated low on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 0.2% and its worst peak-to-trough fall in our sample was -0.2%. Higher volatility means the NAV swings more; the drawdown shows how far it has fallen from a peak historically.
What is the benchmark of JM Liquid Fund?
JM Liquid Fund is benchmarked against the CRISIL Liquid Debt A-I Index. Its alpha and beta on this page are measured against that index.
Who manages JM Liquid Fund?
JM Liquid Fund is managed by Ruchi Fozdar, Jayant Dhoot and Killol Pandya at JM Financial.
How is JM Liquid Fund taxed?
JM Liquid Fund is a debt / non-equity fund. Since April 2023 there is no long-term or indexation benefit — capital gains are added to your income and taxed at your income-tax slab rate regardless of how long you held the units.