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Groww Money Market Fund

Q: What is the NAV of Groww Money Market Fund?

As of 05 Oct 2026, the NAV of Groww Money Market Fund is ₹10.52 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

Q: What returns has Groww Money Market Fund delivered?

Groww Money Market Fund has returned +5.19% 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 Groww Money Market Fund?

Groww Money Market Fund charges an expense ratio of 0.25% 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 Groww Money Market Fund?

Groww Money Market Fund's largest holdings are Axis Bank Limited 14-JAN-2027 (8.2%), HDFC Bank Limited 11-SEP-2026 (8.1%), EXIM Bank 04-NOV-2026 (8.0%), Bank of Baroda 06-JAN-2027 (7.1%) and Punjab National Bank 09-FEB-2027 (7.1%). Holdings are disclosed monthly and change over time.

Q: How risky is Groww Money Market Fund?

Groww 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 -0.1%. 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 Groww Money Market Fund?

Groww Money Market Fund is benchmarked against the CRISIL Money Market Index A-I. Its alpha and beta on this page are measured against that index.

Q: Who manages Groww Money Market Fund?

Groww Money Market Fund is managed by Kaustubh Sule and Wilfred Peter Gonsalves at Groww.

Q: How is Groww Money Market Fund taxed?

Groww 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.

Groww Mutual Fund · Best Money Market Mutual Funds

NAV

₹10.52

+0.07% 1D

as of 05 Oct 2026

This is the Direct plan of Groww Money Market 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

+5.19%absolute

52-week rangePrev NAV ₹10.52

Latest ₹10.52

Low ₹10.01100th percentile of its 52-week rangeHigh ₹10.52

Scorecard

Not rated

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. Not rated — this fund has no full year of NAV history yet. A rating needs at least a 1-year return to rank its performance against peers.

Performance—

Not enough Money Market Fund peers to rank yet

RiskModerate

Volatility 0.4% vs 0.4% category avg

CostHigh

0.3% expense vs 0.2% category avg

Consistency—

Not enough history for a rolling 3Y view

Strengths & concerns

Generated from this fund's own numbers against its sub-category — each point names the figure behind it.

Strengths

No standout strengths identified.

Concerns

High expense ratio (0.25%) vs the Money Market Fund average of 0.17%

Key Metrics

Annual fee charged by the fund, already deducted from NAV

0.25%

Category 0.17%▲0.08%

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

Exit Load

None

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

₹1,00,10,05,00,500

Smallest one-time (lumpsum) investment the scheme accepts

₹500

CRISIL Money Market Index A-I

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.

20 Nov 2025

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

Definitions

Absolute return over the last 1 month (not annualized)

+0.45%

Absolute return over the last 3 months (not annualized)

+1.54%

Absolute return over the last 6 months (not annualized)

+3.20%

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

+4.52%

Annualized returns (≥1Y — CAGR)

Definitions

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

—

3-year annualized return (CAGR)

—

5-year annualized return (CAGR)

—

10-year annualized return (CAGR)

—

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.

+5.19%

Advanced metrics — risk

Risk (trailing 3Y)

Definitions

Annualized standard deviation of daily returns

0.41%

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

-0.07%

Benchmark ratios

Not shown for Money Market 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 (Money Market Fund)

Period	Fund	Category avg.	Diff
1M abs	+0.45%	+0.45%	0.00%
3M abs	+1.54%	+1.61%	-0.07%
6M abs	+3.20%	+3.68%	-0.48%
1Y CAGR	—	+6.53%	—
3Y CAGR	—	+7.31%	—
5Y CAGR	—	+6.67%	—

Category average across peers in Money Market Fund (up to 26 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.

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

₹1.00L

Current value

₹1.02L

Absolute

+2.36%

XIRR

+6.34%

Value vs. invested

ValueInvested

10 monthly installments of ₹10,000 into Groww 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	+4.52%
2025part	+0.64%

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

211

Expense ratio

0.25%

AUM

₹48.13Cr

YTM

6.43%

Macaulay duration

97 days

Average maturity

0 days

Exit load

Nil

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 · Money Market Fund

Compare all


Groww Money Market FundThis fund Groww · Direct · Growth	—	—	—	—	—	0.25%	₹48.13Cr
Tata Money Market Fund Tata · Direct · Growth	★★★☆☆	+6.64%	+7.52%	+6.89%	—	0.18%	₹34,494Cr
Axis Money Market Fund Axis · Direct · Growth	★★★☆☆	+6.60%	+7.45%	+6.80%	—	0.18%	₹19,509Cr
Bandhan Money Market Fund Bandhan · Direct · Growth	★★★★★	+6.63%	+7.41%	+6.72%	—	0.11%	₹15,106Cr
Nippon India Money Market Fund Nippon India · Direct · Growth	★★★☆☆	+6.52%	+7.41%	+6.81%	—	0.22%	₹21,540Cr
Aditya Birla Sun Life Money Market Fund Aditya Birla Sun Life · Direct · Growth	★★★☆☆	+6.55%	+7.41%	+6.79%	—	0.22%	—

Asset allocation

As on 31 Aug 2026 · AMC disclosure

Debt86.79%
Cash & Equivalents13.21%

Equity (18)

which companies this fund invests in

As on 31 Aug 2026 · AMC disclosure

Axis Bank Limited 14-JAN-2027

8.23%

HDFC Bank Limited 11-SEP-2026

8.09%

EXIM Bank 04-NOV-2026

8.02%

Bank of Baroda 06-JAN-2027

7.13%

Punjab National Bank 09-FEB-2027

7.09%

Kotak Mahindra Bank Limited 29-JAN-2027

6.31%

Union Bank of India 15-MAR-2027

5.95%

Kotak Mahindra Prime Limited 07-SEP-2026

4.86%

Bajaj Finance Limited 03-SEP-2026

4.86%

SIDBI 04-FEB-2027

3.94%

Fund size over time

Quarterly average AUM · AMFI

₹48.13Cr

April - June 2026

+119%

since January - March 2026

At or near its largest, ₹48.13Cr 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.

AMC Profile

Groww Mutual Fund is the asset management arm of the Groww investing platform, which acquired Indiabulls Mutual Fund in 2023 and rebranded it. The house leans towards low-cost index and passive schemes alongside a small active line-up.

Launched

09 Apr 2008

Total AUM

₹6,571Cr+28.7% QoQ

Avg AUM · July - September 2026

Website

growwmf.in

Fund Managers

KSKaustubh SuleManaging since 19 Nov 2025

Role

Senior – Fund Manager

Education

B.E.(Computer) MBA(Finance)

Experience

Mr. Kaustubh has worked in Fixed Income trading and portfolio management for almost 14 years and 3 years in the IT industry as a software engineer. He has worked with Hexaware Technologies, Union Bank of India, Reliance Life insurance, HDFC Life insurance. He was working with Axis Asset Management Company as Fund Manager- Fixed Income before joining Groww. Place: Mumbai Date: June 03, 2026 Changes Appointed w.e.f July 31, 2026 Cessation w.e.f July 31, 2026 & Investor Cessation w.e.f July 31, 2026 Place: Mumbai Date: July 31, 2026

Funds managed (8)

All schemes Kaustubh Sule runs →

WGWilfred Peter GonsalvesManaging since 04 Jun 2026

Education

CA, B. Com from Mumbai University

Experience

Wilfred has over 7 years of experience in Investment Management, with a strong background in credit analysis, macroeconomics, fixed income, and gold. At Whiteoak Capital, where he worked for 1.5 years, Wilfred specialized as a dealer in Fixed Income securities and supported Gold ETF units trading. Prior to this, he served as a Fixed Income Dealer at Edelweiss Tokio Life Insurance for 3 years, where his responsibilities included Fixed Income trading and portfolio management. Additionally, at L&T Finance, Wilfred was part of the Deal Origination team for 2 years, conducting in-depth credit analysis to support investment decisions."

Funds managed (10)

All schemes Wilfred Peter Gonsalves runs →

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

Kaustubh Sule Wilfred Peter Gonsalves

Groww 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 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 Groww Money Market Fund?

As of 05 Oct 2026, the NAV of Groww Money Market Fund is ₹10.52 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

What returns has Groww Money Market Fund delivered?

Groww Money Market Fund has returned +5.19% 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 Groww Money Market Fund?

Groww Money Market Fund charges an expense ratio of 0.25% 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 Groww Money Market Fund?

Groww Money Market Fund's largest holdings are Axis Bank Limited 14-JAN-2027 (8.2%), HDFC Bank Limited 11-SEP-2026 (8.1%), EXIM Bank 04-NOV-2026 (8.0%), Bank of Baroda 06-JAN-2027 (7.1%) and Punjab National Bank 09-FEB-2027 (7.1%). Holdings are disclosed monthly and change over time.

How risky is Groww Money Market Fund?

Groww 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 -0.1%. Higher volatility means the NAV swings more; the drawdown shows how far it has fallen from a peak historically.

What is the benchmark of Groww Money Market Fund?

Groww Money Market Fund is benchmarked against the CRISIL Money Market Index A-I. Its alpha and beta on this page are measured against that index.

Who manages Groww Money Market Fund?

Groww Money Market Fund is managed by Kaustubh Sule and Wilfred Peter Gonsalves at Groww.

How is Groww Money Market Fund taxed?

Groww 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.