Tata Money Market Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?
- September 10, 2026
- Posted by: Chaitanya Auti
- Category: Mutual Funds
Tata Money Market Fund Direct Growth Plan has an NAV of ₹5210.5706 as of 09 Sep 2026 and a scheme AUM of ₹34,511 Cr. Its 1-year, 3-year and 5-year returns are 6.78%, 7.58% and 6.85%, and the scheme is in the Medium Risk category.
Our view is that this looks like a fairly steady debt fund with a measured return profile rather than a sharp market-linked growth story. The portfolio is built around short-duration money market instruments and cash-like exposures, which helps explain the low-volatility character that conservative investors usually look for.
Quick facts
| Particular | Details |
|---|---|
| NAV | ₹5,210.5706 as of 09 Sep 2026 |
| AUM | ₹34,511 Cr |
| Expense Ratio | 0.15% |
| Launch Date | 31 Dec 2012 |
| Min SIP | ₹500 |
| Risk Category | Medium Risk |
| Benchmark | Nifty 50 |
| Fund Category | Debt |
| Exit Load | No exit load |
| Fund Managers | Amit Somani, Harsh Dave |
The fund is managed by Amit Somani and Harsh Dave.
Source data date: as of 09 Sep 2026
Performance
| Period | Fund return | Benchmark return |
|---|---|---|
| 1M | 0.64% | -4.69% |
| 3M | 2.04% | 0.93% |
| 1Y | 6.78% | -7.16% |
| 3Y | 7.58% | 6% |
| 5Y | 6.85% | 5.87% |
The recent pattern is constructive. Over 1 month and 3 months, the fund stayed in positive territory while the benchmark was choppy, which points to a more stable short-term path than the index used for comparison.
The 1-year figure is especially striking because the fund remained positive while the benchmark was negative. That gap matters for investors who want capital preservation first and do not want returns to swing with broad equity market moves.
Over 3 years and 5 years, the picture is still positive, but the edge over the benchmark is much smaller. That tells us the fund has not been reliant on a single strong phase; instead, it has kept compounding at a moderate pace over time.
Our reading of the trend is that this is a fund with steadier behaviour than the benchmark rather than a high-momentum performer. The long-term numbers are better than the recent benchmark trend, but they are still modest in absolute terms, which is typical for a money-market style debt fund.
Source data date: as of 09 Sep 2026
Should you BUY or HOLD Tata Money Market?
A fund’s past returns alone don’t tell you whether you should buy it today or continue holding it.
The right decision depends on factors such as your current allocation, purchase price, risk profile, investment horizon and the role this fund plays in your overall portfolio.
Already holding Tata Money Market? Thinking of investing now?
Peer comparison
| Fund | 1Y return | 3Y return | 5Y return |
|---|---|---|---|
| Tata Money Market Fund Direct Growth Plan | 6.78% | 7.58% | 6.85% |
| Union Money Market Fund Direct Growth Plan | 6.92% | 7.26% | 6.49% |
| Bank of India Money Market Fund Direct Growth Plan | 6.79% | Data not available | Data not available |
| LIC MF Money Market Fund Direct Growth Plan | 6.78% | 6.84% | Data not available |
| Bandhan Money Market Fund Direct Growth Plan | 6.78% | 7.45% | 6.68% |
| Tata Money Market Fund Direct Growth Plan | 6.78% | 7.58% | 6.85% |
This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639. On 1-year numbers, the fund sits close to the better recent peer outcomes, with Union Money Market Fund Direct Growth Plan slightly ahead at 6.92% and Bank of India Money Market Fund Direct Growth Plan at 6.79%.
The longer view is more balanced. Tata Money Market Fund Direct Growth Plan leads the listed peers with available 3-year and 5-year figures, but the margin is not wide, which suggests the fund’s edge is based on consistency rather than a dramatic return gap. The short-term and longer-term comparisons therefore tell a similar story: competitive, steady, and not dependent on a single burst of performance.
Source data date: as of 09 Sep 2026
Want to know more? Log in to Univest for more mutual fund insights.
Portfolio: where your money goes
| Holding | Sector | Weight |
|---|---|---|
| ** – HDFC Bank Ltd – CD – 05/03/2027 | Certificate of Deposit | 3.57% |
| Repo | Cash & Cash Equivalents and Net Assets | 3.45% |
| ** – Kotak Mahindra Bank – CD – 04/02/2027 | Certificate of Deposit | 3.38% |
| ** – Yes Bank Ltd – CD – 05/03/2027 | Certificate of Deposit | 3.22% |
| ** Treasury Bill 182 Days (26/02/2027) | Treasury Bills | 3.1% |
| ** – NABARD – CD – 27/01/2027 | Certificate of Deposit | 3.03% |
| ** – HDFC Bank Ltd – CD – 14/12/2026 | Certificate of Deposit | 2.99% |
| ** – Indian Overseas Bank – CD – 24/02/2027 | Certificate of Deposit | 2.8% |
| ** – LIC Housing Finance Ltd – CP – 05/03/2027 | Commercial Paper | 2.8% |
| ** – Exim – CP – 14/12/2026 | Commercial Paper | 2.56% |
The largest holding is 3.57%, which is small enough to suggest that no single position dominates the portfolio on its own. The drop from the first holding to the tenth is also gradual, moving from 3.57% to 2.56%, so the visible book looks broadly balanced across similar money-market instruments.
Even so, the top 10 holdings together account for approximately 30.9% of the portfolio, while the scheme discloses 67 holdings in total. That combination points to a fairly long tail beyond the largest positions, which may reduce reliance on any one instrument but could also make the portfolio less easy to read at a glance.
Because the disclosed holdings are spread across certificates of deposit, treasury bills, commercial paper and repo, the fund may benefit from diversified short-term credit and liquidity exposure rather than a concentrated single-theme tilt. The top holdings line-up suggests a portfolio that is likely to be driven more by broad money-market positioning than by any one issuer.
To see all holdings, visit the Tata Money Market Fund Direct Growth Plan page
Source data date: as of 09 Sep 2026
Who should invest
This fund suits investors who are comfortable with a medium-risk debt scheme and want returns that have stayed positive across 1-year, 3-year and 5-year windows. The benchmark comparison also shows that the fund has been much steadier than the index in the recent year, which may appeal to investors who value smoother behaviour over market-linked upside.
The trade-off is that the return profile remains moderate, so this is better viewed as a stability-oriented debt allocation than a high-growth choice. Investors with a shorter-to-medium holding horizon and a preference for short-term instruments may find the portfolio structure easier to understand, while those seeking aggressive gains would likely need a different style of fund.
Tax and exit load
| Holding period | Tax rate | Description |
|---|---|---|
| Units held less than 1 year | 20% | Short-term capital gains tax |
| Units held more than 1 year | 12.5% | Long-term capital gains tax |
Exit load: No exit load.
Source data date: as of 09 Sep 2026
Frequently asked questions
What is the current NAV of Tata Money Market Fund Direct Growth Plan?
The current NAV is ₹5210.5706 as of 09 Sep 2026.
What are the fund’s 1-year, 3-year and 5-year returns?
Its 1-year, 3-year and 5-year returns are 6.78%, 7.58% and 6.85%.
How does it compare with the benchmark?
It has been ahead of the benchmark across the listed horizons, with the sharpest difference in the 1-year period where the benchmark was negative while the fund stayed positive.
How does it compare with peer funds on available return data?
Its recent return is close to the better peer figures, and its 3-year and 5-year numbers are also competitive among the listed peers with available data.
What is the minimum SIP amount?
The minimum SIP amount is ₹500.
Who manages the fund and what is the exit load?
The fund is managed by Amit Somani and Harsh Dave. It has no exit load.
Bottom line
Tata Money Market Fund Direct Growth Plan has a steadier recent pattern than the benchmark and a consistent longer-term return record, with the 3-year and 5-year numbers remaining positive and competitive. It does not stand out as a high-octane return product, but that is not the point of a money-market debt fund. The portfolio is spread across short-term instruments and repo, and the top positions are all fairly small, which supports a more balanced short-duration profile for conservative investors.
Published on 10 September 2026 at 3:52 PM IST
Explore mutual funds with Univest
Review mutual fund data, compare performance and explore fund insights on Univest.
RIA disclosure
Mutual fund investments are subject to market risks. Read all scheme-related documents carefully before investing. This review is prepared by Uniapps Investment Adviser Pvt. Ltd. (earlier known as Uniapps Global Research Pvt. Ltd.) under SEBI Registered Investment Adviser registration INA000017639 for general informational purposes and is not personalized investment advice.