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PGIM India Liquid Fund

Q: What is the NAV of PGIM India Liquid Fund?

As of 04 Oct 2026, the NAV of PGIM India Liquid Fund is ₹372.04 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

Q: What returns has PGIM India Liquid Fund delivered?

PGIM India Liquid Fund has returned +6.51% over 1 year, +6.97% per year over 3 years, +6.41% per year over 5 years and +6.26% 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.

Q: What is the expense ratio of PGIM India Liquid Fund?

PGIM India Liquid Fund charges an expense ratio of 0.11% per year. This annual fee is already deducted from the NAV, so the returns you see are net of it.

Q: What are the top holdings of PGIM India Liquid Fund?

PGIM India Liquid Fund's largest holdings are 91 DAYS TBILL RED 01-10-2026 (6.3%), 7.98% Bajaj Housing Finance Ltd. (5.3%), 91 DAYS TBILL RED 29-10-2026 (5.3%), HDFC Bank Ltd. (4.8%) and Bank of Baroda (4.8%). Holdings are disclosed monthly and change over time.

Q: How risky is PGIM India Liquid Fund?

PGIM India Liquid Fund is rated low on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 0.1% and its worst peak-to-trough fall in our sample was -0.1%. Higher volatility means the NAV swings more; the drawdown shows how far it has fallen from a peak historically.

Q: What is the benchmark of PGIM India Liquid Fund?

PGIM India Liquid Fund is benchmarked against the CRISIL Liquid Debt A-I Index. Its alpha and beta on this page are measured against that index.

Q: Who manages PGIM India Liquid Fund?

PGIM India Liquid Fund is managed by Puneet Pal and Akhil Dhar at PGIM India.

Q: How is PGIM India Liquid Fund taxed?

PGIM India 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.

PGIM India Mutual Fund · Best Liquid Mutual Funds

NAV

₹372.04

+0.02% 1D

as of 04 Oct 2026

This is the Direct plan of PGIM India Liquid Fund — bought from the fund house, with no distributor commission in its expense ratio. Income is retained in the fund, so it shows up as NAV rather than as a payout.

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NAV history

+6.51%CAGR

52-week rangePrev NAV ₹371.98

Latest ₹372.04

Low ₹349.31100th percentile of its 52-week rangeHigh ₹372.04

Scorecard

★★★★☆4/5 vs 36 of 43 Liquid Fund peers

Performance 60%
Risk 15%
Cost 10%
Downside 15%

How 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. The stars weight the same ground 60/15/10/15 (performance/risk/cost/downside) across every fund in the peer group. Ranked within Liquid Fund (same plan and option). 36 of the 43 Liquid Funds in this cohort carry the full record the stars need, so they are the ones ranked against.

PerformanceStrong

3Y CAGR +6.97% · ranks 10 of 36 Liquid Funds

RiskLow

Volatility 0.1% vs 0.2% category avg

CostLow

0.1% expense vs 0.1% category avg

ConsistencyHigh

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

Less volatile than its Liquid Fund peers (0.1% vs 0.2%)
Low expense ratio (0.11%) vs the Liquid Fund average of 0.15%
Consistent — positive in 100% of rolling 3-year windows

Concerns

No significant concerns identified.

Key Metrics

Annual fee charged by the fund, already deducted from NAV

0.11%

Category 0.15%▼0.04%

Portfolio-weighted harmonic mean P/E across the fund's equity holdings

—

Category —

Excess return per unit of total volatility (rf = 6.5%)

—

Category —

Scheme Info

Definitions

Plan

Direct · Growth

Period before units can be redeemed — 3 years for ELSS, none for most open-ended funds

None

as a % of redemption/switch proceeds Day 1 0.0070% Day 2 0.0065% Day 3 0.0060% Day 4 0.0055% Day 5 0.0050% Day 6 0.0045% Day 7 onwards 0.0000%

Up to 0.01%

tiered — see the full terms

Statutory levy on every mutual-fund purchase since 1 Jul 2020 (SEBI / Govt of India) — the same for every scheme

0.005%

SIP Inv.

Allowed

Smallest recurring SIP instalment the scheme accepts

₹1,000

Smallest one-time (lumpsum) investment the scheme accepts

₹5,000

CRISIL Liquid Debt A-I Index

Start of our NAV history for this plan. Direct plans begin 1 Jan 2013, so this is the plan's inception — not necessarily the scheme's original launch date.

08 Mar 2016

Period returns (<1Y, absolute — not annualized)

Definitions

Absolute return over the last 1 month (not annualized)

+0.46%

Absolute return over the last 3 months (not annualized)

+1.54%

Absolute return over the last 6 months (not annualized)

+3.30%

Absolute return since 1 Jan of this year (not annualized)

+5.02%

Annualized returns (≥1Y — CAGR)

Definitions

1-year point-to-point return, annualized (CAGR)

+6.51%

3-year annualized return (CAGR)

+6.97%

5-year annualized return (CAGR)

+6.41%

10-year annualized return (CAGR)

+6.16%

Annualized return (CAGR) since the first NAV we hold for this plan — the Inception date under Key metrics. AMFI's history starts in April 2006, so an older scheme is measured from there.

+6.26%

Advanced metrics — risk

Risk (trailing 3Y)

Definitions

Annualized standard deviation of daily returns

0.15%

Excess return per unit of total volatility (rf = 6.5%)

—

Excess return per unit of downside deviation — upside swings aren't penalized (rf = 6.5%)

—

Largest peak-to-trough decline over full history

-0.15%

Benchmark ratios

Not shown for Liquid Fund — a debt, arbitrage or cash-like fund isn't measured against an equity index, so alpha/beta vs one would be noise rather than signal.

Fund vs category average (Liquid Fund)

Period	Fund	Category avg.	Diff
1M abs	+0.46%	+0.46%	0.00%
3M abs	+1.54%	+1.53%	+0.01%
6M abs	+3.30%	+3.26%	+0.04%
1Y CAGR	+6.51%	+6.40%	+0.11%
3Y CAGR	+6.97%	+6.88%	+0.09%
5Y CAGR	+6.41%	+6.32%	+0.09%

Category average across peers in Liquid Fund (up to 43 funds with data), 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.

Category rank

Vs 43 peers in Liquid Fund

1Y return

+6.51%

Beats 72.5% · rank #12

3Y return

+6.97%

Beats 74.3% · rank #10

5Y return

+6.41%

Beats 84.8% · rank #6

Sharpe

—

Sortino

—

Backtest this fund

What a SIP or one-time investment would have grown to over this fund’s real NAV history.

Monthly investment (₹)

Period

Invested

₹6.00L

Current value

₹7.09L

Absolute

+18.11%

XIRR

+6.81%

Value vs. invested

ValueInvested

60 monthly installments of ₹10,000 into PGIM India 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	+5.04%
2025	+6.63%
2024	+7.46%
2023	+7.18%
2022	+4.91%
2021	+3.38%
2020	+4.36%
2019	+6.81%
2018	+7.50%
2017	+6.77%

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.

History points

3,379

Expense ratio

0.11%

AUM

₹674.40Cr

YTM

6.15%

Macaulay duration

37 days

Average maturity

40 days

Exit load

as a % of redemption/switch proceeds Day 1 0.0070% Day 2 0.0065% Day 3 0.0060% Day 4 0.0055% Day 5 0.0050% Day 6 0.0045% Day 7 onwards 0.0000%

Taxation

Taxed as debt

This 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.

Any holding period

30%

Short- and long-term alike

Your income-tax slab — no LTCG or indexation benefit

Your income-tax slab

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.

Peer comparison · Liquid Fund

Compare all


PGIM India Liquid FundThis fund PGIM India · Direct · Growth	★★★★☆	+6.51%	+6.97%	+6.41%	—	0.11%	₹674.40Cr
Aditya Birla Sun Life Liquid Fund Aditya Birla Sun Life · Direct · Growth	★★★★☆	+6.57%	+7.00%	+6.44%	—	0.21%	₹60,608Cr
Edelweiss Liquid Fund Edelweiss · Direct · Growth	★★★★☆	+6.54%	+7.00%	+6.42%	—	0.10%	₹13,834Cr
Axis Liquid Fund Axis · Direct · Growth	★★★★★	+6.57%	+7.00%	+6.43%	—	0.13%	₹55,968Cr
Sundaram Liquid Fund Sundaram · Direct · Growth	★★★★★	+6.56%	+6.99%	—	—	0.14%	₹7,410Cr
Franklin India Liquid Fund - Direct Plan - Super Franklin Templeton · Direct · Institutional · Growth	★★★★★	+6.52%	+6.98%	+6.40%	—	0.14%	₹4,069Cr

Asset allocation

As on 31 Aug 2026 · AMC disclosure

Debt93.66%
Cash & Equivalents6.11%
Other0.23%

Cash & cash-like: 22.25% — the 6.11% above plus treasury bills, certificates of deposit, commercial paper and TREPS, which the allocation files under Debt but the market counts as cash-equivalent.

which companies this fund invests in

As on 31 Aug 2026 · AMC disclosure

HDFC Bank Ltd.

4.79%

Bank of Baroda

4.79%

Bajaj Finance Ltd.

4.79%

National Bank for Agriculture & Rural Development

4.79%

HSBC InvestDirect Financial Ser Ind Ltd.

4.58%

Bank of India

4.22%

Aditya Birla Money Ltd.

3.87%

ICICI Securities Ltd.

3.39%

Small Industries Development Bank of India

2.91%

HDFC Bank Ltd.

2.42%

Fund size over time

Quarterly average AUM · AMFI

₹674.40Cr

April - June 2026

+15%

since January - March 2026

+₹76.06Cr

est. net flow, last quarter

At or near its largest, ₹674.40Cr in April - June 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

PGIM India Mutual Fund is the Indian arm of PGIM, the global asset management business of the US insurer Prudential Financial. It was formerly DHFL Pramerica Mutual Fund; PGIM bought out DHFL's stake in 2019 and renamed the house.

Launched

12 May 2010

Total AUM

₹27,859Cr+4.6% QoQ

Avg AUM · July - September 2026

Website

pgimindia.com/mutual-funds

Fund Managers

PPPuneet PalManaging since 16 Jul 2022

Education

MBA (Finance) from Symbiosis Institute of Business Management, Pune Category of the Scheme Arbitrage Fund Balanced Advantage Fund Equity Savings Fund

Experience

More than 25 years of PGIM experience in the Debt markets Fund, PGIM India Flexi within the Mutual Fund space. Below are details on his past stints: • December 01, 2021 onwards – Head – Fixed Income - PGIM India Asset Fund, PGIM India Equity Management Private Savings Limited. • December 13, 2017 to November 30, 2021 Deputy Head - Fixed PGIM Income - PGIM India Asset Management Private Limited. • February 2012 to December 12, 2017 - Head - Fixed Income - BNP Paribas Asset Management India Pvt. Ltd. • July 2008 to February 2012 - Sr. Vice President & Fund Manager - UTI Asset Management Company Ltd. • August 2006 to July 2008 - Fund Manager - Tata Asset Management Ltd. • April 2004 to August 2006 - Asst. Fund Manager - UTI Asset Management Company Ltd. • June 2001 to March 2004 - Dealer - UTI Asset Management Company Ltd.

Funds managed (21)

All schemes Puneet Pal runs →

ADAkhil DharManaging since 25 Feb 2026

Role

Fund Manager and Credit Analyst – Fixed Income

Education

PGDBM (Finance) and B.E (Electrical) No. of Qualificati yearson of Exper ience

Experience

Over 9 years of experience in Credit Analysis and Research: • February 25, 2026 onwards - PGIM India Asset Management Private Limited - Fund Manager and Credit Analyst – Fixed Income • January 30, 2023 to February 24, 2026 - PGIM India Asset Management Private Limited - Credit Analyst • December 20, 2021 to January 19, 2023 - IndusInd Bank including assignments held during the last 10 years Limited - Chief Manager - Corporate Ratings • February 14, 2020 to December 16, 2021 - CARE Ratings Limited - Lead Analyst - Corporate ratings • November 05, 2019 to February 10, 2020 - India Ratings and Research Private Limited - Research Analyst - Core Analytical Group • April 03, 2017 to October 16, 2019 - CARE Ratings Limited - Analyst - Corporate ratings

Fund managers from the AMC's filed Scheme Summary — its most recent filing for this scheme. Benchmark and dealing terms from it and 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

Fund managers

Puneet Pal

PGIM India 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.

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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 PGIM India Liquid Fund?

As of 04 Oct 2026, the NAV of PGIM India Liquid Fund is ₹372.04 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

What returns has PGIM India Liquid Fund delivered?

PGIM India Liquid Fund has returned +6.51% over 1 year, +6.97% per year over 3 years, +6.41% per year over 5 years and +6.26% 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 PGIM India Liquid Fund?

PGIM India Liquid Fund charges an expense ratio of 0.11% 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 PGIM India Liquid Fund?

PGIM India Liquid Fund's largest holdings are 91 DAYS TBILL RED 01-10-2026 (6.3%), 7.98% Bajaj Housing Finance Ltd. (5.3%), 91 DAYS TBILL RED 29-10-2026 (5.3%), HDFC Bank Ltd. (4.8%) and Bank of Baroda (4.8%). Holdings are disclosed monthly and change over time.

How risky is PGIM India Liquid Fund?

PGIM India Liquid Fund is rated low on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 0.1% and its worst peak-to-trough fall in our sample was -0.1%. Higher volatility means the NAV swings more; the drawdown shows how far it has fallen from a peak historically.

What is the benchmark of PGIM India Liquid Fund?

PGIM India 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 PGIM India Liquid Fund?

PGIM India Liquid Fund is managed by Puneet Pal and Akhil Dhar at PGIM India.

How is PGIM India Liquid Fund taxed?

PGIM India 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.