DebtLiquid FundDirectGrowthLow

Carnelian Liquid Fund

Q: What is the NAV of Carnelian Liquid Fund?

As of 20 Oct 2026, the NAV of Carnelian Liquid Fund is ₹1,001.31 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

Q: What returns has Carnelian Liquid Fund delivered?

Carnelian Liquid Fund has returned +0.03% 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 Carnelian Liquid Fund?

Carnelian Liquid Fund charges an expense ratio of 0.14% per year. This annual fee is already deducted from the NAV, so the returns you see are net of it.

Q: How risky is Carnelian Liquid Fund?

Carnelian Liquid Fund sits at the low level on our estimate of SEBI's risk-o-meter scale and its worst peak-to-trough fall in our sample was 0.0%. Higher volatility means the NAV swings more; the drawdown shows how far it has fallen from a peak historically.

Q: Who manages Carnelian Liquid Fund?

Carnelian Liquid Fund is managed by Deepak Malik and Viraj Parekh at Carnelian.

Q: How is Carnelian Liquid Fund taxed?

Carnelian 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.

Carnelian Mutual Fund · Best Liquid Mutual Funds

NAV

₹1,001.31

+0.03% 1D

as of 20 Oct 2026

This is the Direct plan of Carnelian 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.

Compare SIP calculator

NAV history

+0.03%absolute

52-week rangePrev NAV ₹1,001.02

Latest ₹1,001.31

Low ₹1,001.02100th percentile of its 52-week rangeHigh ₹1,001.31

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—

No 3-year record to rank on yet

Risk—

Volatility not available yet

CostAverage

0.1% expense vs 0.1% category avg

Consistency—

Not enough history for a rolling 3Y view

Key Metrics

Annual fee charged by the fund, already deducted from NAV

0.14%

Direct 0.14% · Regular 0.21%

Category 0.14%0.00%

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

Investment period i.e. number of Exit load as a % of days from the date of redemption subscription NAV proceeds 1 Day 0.0070% 2 Days 0.0065% 3 Days 0.0060% 4 Days 0.0055% 5 Days 0.0050% 6 Days 0.0045% 7 Days or more Nil There shall be no exit load levied in case of switch of investments i) between the Plans (i.e. Regular and Direct Plans); and/or ii) between the options (i.e. IDCW and Growth optio

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.

—

Smallest recurring SIP instalment the scheme accepts

—

Smallest one-time (lumpsum) investment the scheme accepts

₹500

Benchmark

—

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.

19 Oct 2026

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

Definitions

Absolute return over the last 1 month (not annualized)

—

Absolute return over the last 3 months (not annualized)

—

Absolute return over the last 6 months (not annualized)

—

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

—

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.

+0.03%

Advanced metrics — risk

Risk (trailing 3Y)

Definitions

Annualized standard deviation of daily returns

—

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

0.00%

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.

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

₹10.00K

Current value

₹10.00K

Absolute

0.00%

XIRR

+450.01%

Value vs. invested

ValueInvested

Pick a longer period to plot the path.

1 monthly installments of ₹10,000 into Carnelian Liquid Fund, valued at the latest NAV. XIRR annualizes for each installment’s timing.

History points

Expense ratio

0.14%

Exit load

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


Carnelian Liquid FundThis fund Carnelian · Direct · Growth	—	—	—	—	—	0.14%	—
Edelweiss Liquid Fund Edelweiss · Direct · Growth	★★★★☆	+6.53%	+6.98%	+6.44%	—	0.10%	₹13,846Cr
Aditya Birla Sun Life Liquid Fund Aditya Birla Sun Life · Direct · Growth	★★★★☆	+6.55%	+6.98%	+6.46%	—	0.21%	₹71,052Cr
Axis Liquid Fund Axis · Direct · Growth	★★★★★	+6.57%	+6.98%	+6.45%	—	0.13%	₹59,483Cr
Sundaram Liquid Fund Sundaram · Direct · Growth	★★★★★	+6.55%	+6.97%	—	—	0.14%	₹8,648Cr
Franklin India Liquid Fund - Direct Plan - Super Franklin Templeton · Direct · Institutional · Growth	★★★★☆	+6.53%	+6.96%	+6.42%	—	0.14%	₹5,992Cr

Fund Managers

DMDeepak MalikStart date not disclosed

Experience

Deepak Malik is a seasoned investment professional with more than 25 years of experience across various organisations predominantly in investment management industry. Deepak Malik joined Carnelian Investment Managers Pvt. Ltd. on March 1, 2026, and is primarily responsible for the investment management function for the schemes of Carnelian Mutual Fund. Prior to this, he was associated with Carnelian Asset Management and Advisors Pvt. Ltd. from September 2023 to March 2026 where he was responsible for market survey, research, sector- specific insights and information, supported by data and analytical inputs. Before joining Carnelian Asset Management and Advisors Pvt. Ltd., he worked with Faering Capital Pvt. Ltd. from February 2020 to June 2023, where he was responsible for equity investments in the pharmaceutical and healthcare sectors across the investment lifecycle. From September 2015 to January 2020, he worked with Edelweiss Securities Ltd., where he conducted equity research and institutional advisory services focused on the pharmaceutical and healthcare sectors. Earlier, from June 2013 to August 2015, he worked with Axis Mutual Fund, conducting fundamental equity research and supporting portfolio management through in-depth investment analysis and sectoral coverage. Viraj has been associated with the AMC since March 01, 2026 where he is responsible for monitoring portfolio performance, portfolio construction, conducting investment research and analysis across sectors and companies, etc. Prior to this, Viraj was a Research Analyst at Carnelian Asset Management & Advisors Private Limited from Feb 01, 2021 to Feb 28, 2026 where he was a part of the equity research team and undertook detailed fundamental analysis of investee companies, evaluated business models, competitive positioning etc

All schemes Deepak Malik runs →

VPViraj ParekhStart date not disclosed

All schemes Viraj Parekh runs →

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.

Carnelian 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.

Run SIP calculator Add to compare

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 Carnelian Liquid Fund?

As of 20 Oct 2026, the NAV of Carnelian Liquid Fund is ₹1,001.31 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

What returns has Carnelian Liquid Fund delivered?

Carnelian Liquid Fund has returned +0.03% 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 Carnelian Liquid Fund?

Carnelian Liquid Fund charges an expense ratio of 0.14% per year. This annual fee is already deducted from the NAV, so the returns you see are net of it.

How risky is Carnelian Liquid Fund?

Carnelian Liquid Fund sits at the low level on our estimate of SEBI's risk-o-meter scale and its worst peak-to-trough fall in our sample was 0.0%. Higher volatility means the NAV swings more; the drawdown shows how far it has fallen from a peak historically.

Who manages Carnelian Liquid Fund?

Carnelian Liquid Fund is managed by Deepak Malik and Viraj Parekh at Carnelian.

How is Carnelian Liquid Fund taxed?

Carnelian 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.