PGIM India Money Market Fund
This is the Regular plan of PGIM India Money Market Fund — bought through a distributor, whose commission is paid out of its expense ratio. Income is retained in the fund, so it shows up as NAV rather than as a payout.
NAV history
Scorecard
★★☆☆☆2/5 vs 25 of 27 Money Market 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 Money Market Fund (same plan and option). 25 of the 27 Money Market Funds in this cohort carry the full record the stars need, so they are the ones ranked against.
3Y CAGR +6.88% · ranks 18 of 24 Money Market Funds
Volatility 0.4% vs 0.4% category avg
0.4% expense vs 0.5% category avg
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
- Low expense ratio (0.40%) vs the Money Market Fund average of 0.45%
- Consistent — positive in 100% of rolling 3-year windows
Concerns
- Ranks #21 of 25 on 1-year return in its Money Market Fund cohort
Key Metrics
Scheme Info
DefinitionsPeriod returns (<1Y, absolute — not annualized)
DefinitionsAnnualized returns (≥1Y — CAGR)
DefinitionsAdvanced metrics — risk
Fund vs category average (Money Market Fund)
| Period | Fund | Category avg. | Diff |
|---|---|---|---|
| 1M abs | +0.43% | +0.43% | 0.00% |
| 3M abs | +1.52% | +1.53% | -0.01% |
| 6M abs | +3.50% | +3.51% | -0.01% |
| 1Y CAGR | +6.07% | +6.23% | -0.16% |
| 3Y CAGR | +6.88% | +6.99% | -0.11% |
| 5Y CAGR | +6.24% | +6.34% | -0.10% |
Category average across peers in Money Market Fund (up to 27 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 27 peers in Money Market Fund
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 PGIM India Money Market 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 | +4.71% | |
| 2025 | +7.10% | |
| 2024 | +7.25% | |
| 2023 | +7.09% | |
| 2022 | +4.38% | |
| 2021 | +2.83% | |
| 2020part | +3.59% |
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 22 Jan 2022 · AMC disclosure- Debt92.83%
- Cash & Equivalents6.46%
- Other0.71%
Fund size over time
Quarterly average AUM · AMFIDown +31% from its peak of ₹207.02Cr 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
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.
Fund Managers
PPPuneet PalManaging since 16 Jul 2022
MBA (Finance) from Symbiosis Institute of Business Management, Pune Category of the Scheme Arbitrage Fund Balanced Advantage Fund Equity Savings Fund
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.
- PGIM India Aggressive Hybrid Equity Fund
- PGIM India Arbitrage Fund
- PGIM India Balanced Advantage Fund
- PGIM India Corporate Bond Fund
- PGIM India CRISIL IBX Gilt Index - Apr 2028 Fund
- PGIM India Dynamic Term Fund
- PGIM India Equity Savings Fund
- PGIM India Flexi Cap Fund
- PGIM India Gilt Fund
- PGIM India Liquid Fund
- PGIM India Multi Asset Allocation Fund
- PGIM India Overnight Fund
- PGIM India Retirement Fund
- PGIM India Small Cap Fund
- PGIM India Ultra Short Term Fund
- PGIM India Dynamic Bond Fund - Dividend Option - Monthly
- PGIM India Healthcare Fund - Direct Plan - Direct Growth
- PGIM India Large and Midcap Fund - Direct Plan - Direct Growth
- PGIM India Midcap Fund - Direct Plan - Direct Growth
- PGIM India Multi Cap Fund - Direct Plan - Direct Growth
- PGIM India Ultra Short Duration Fund - Regular Plan - Growth
ADAkhil DharManaging since 25 Feb 2026
Fund Manager and Credit Analyst – Fixed Income
PGDBM (Finance) and B.E (Electrical) No. of Qualificati yearson of Exper ience
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
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.
PGIM India Ultra Short Term Direct-IDCW Weekly
The Economic Times · 4d ago
PGIM India MF to reopen select transactions in global real estate FoF from Oct 8
CNBC TV18 · 4d ago
PGIM reopens global fund subscriptions; Invesco suspends fresh investments in 3 overseas schemes
Upstox · 4d ago
PGIM India AMC announces reopening of subscription in Global Select Real Estate Securities Fund of Fund
Investment Guru India · 5d ago
PGIM India Mutual Fund announces reopening of subscription in its Global Select Real Estate Securities FoF
The Economic Times · 5d ago
PGIM India MF announces IDCW under Gilt Fund
Investment Guru India · 11d ago
PGIM India MF announces IDCW under Corporate Bond Fund
Investment Guru India · 11d ago
24 mutual fund schemes announce income distribution: Check record dates and payouts
Upstox · 11d 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 Money Market funds
Money market funds hold only money market instruments — treasury bills, commercial paper, certificates of deposit — maturing within one year. The one-year ceiling is on each instrument, which keeps both interest-rate and credit risk short.
Frequently asked questions
What is the NAV of PGIM India Money Market Fund?
As of 05 Oct 2026, the NAV of PGIM India Money Market Fund is ₹1,433.01 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.
What returns has PGIM India Money Market Fund delivered?
PGIM India Money Market Fund has returned +6.07% over 1 year, +6.88% per year over 3 years, +6.24% per year over 5 years and +5.62% 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 Money Market Fund?
PGIM India Money Market Fund charges an expense ratio of 0.40% 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 Money Market Fund?
PGIM India Money Market Fund's largest holdings are Kotak Mahindra Bank Ltd. (8.5%), Canara Bank (7.8%), National Bank for Agriculture & Rural Development (7.8%), Punjab National Bank (7.8%) and Small Industries Development Bank of India (7.7%). Holdings are disclosed monthly and change over time.
How risky is PGIM India Money Market Fund?
PGIM India Money Market Fund is rated low on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 0.4% and its worst peak-to-trough fall in our sample was -0.8%. 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 Money Market Fund?
PGIM India Money Market Fund is benchmarked against the CRISIL Money Market A-I Index. Its alpha and beta on this page are measured against that index.
Who manages PGIM India Money Market Fund?
PGIM India Money Market Fund is managed by Puneet Pal and Akhil Dhar at PGIM India.
How is PGIM India Money Market Fund taxed?
PGIM India Money Market 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.