This fund is for conservative investors looking for a safe parking place for their funds with the aim of capital preservation and minimal return in form of interest. This fund has a low risk profile and is ideal during times of stock turbulence.
One of the most interesting facts about this fund is that the investor will not worry about losing his principal amount, unlike shares where one might lose principal amount.
Fees and Charges
No initial charges are applicable on entry into the Money Market Fund. A maximum of 1.5% per annum is levied on the daily market value for the fund portfolio.
The net income attributable to the fund is distributed to investors registered such as the last day of each.
Money market fund earns interest on daily basis-and the interest is very attractive.
You can choose to withdraw your interest monthly or leave it to earn more interest.