Bandhan Money Market Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?
- September 10, 2026
- Posted by: Chaitanya Auti
- Category: Mutual Funds
Bandhan Money Market Fund Direct Growth Plan has a NAV of ₹47.2588 as of 09 Sep 2026 and scheme AUM of ₹15,337 Cr. Its 1-year, 3-year and 5-year returns are 6.78%, 7.45% and 6.68%, and the scheme carries a Balanced Risk label.
Our view is that the fund suits investors looking for a debt-oriented option with steady compounding rather than sharp swings. The return profile has been stable across the longer periods, while the portfolio is built largely from high-quality money-market instruments and short-dated government exposure.
Quick facts
| Particular | Details |
|---|---|
| NAV | ₹47.2588 as of 09 Sep 2026 |
| AUM | ₹15,337 Cr |
| Expense Ratio | 0.1% |
| Launch Date | 01 Jan 2013 |
| Min SIP | ₹100 |
| Risk Category | Balanced Risk |
| Benchmark | Nifty 50 |
| Fund Category | Debt |
| Exit Load | No exit load after holding period |
| Fund Managers | Brijesh Shah, Gautam Kaul |
The fund is managed by Brijesh Shah and Gautam Kaul.
Source data date: as of 09 Sep 2026
Performance
| Period | Fund return | Benchmark return |
|---|---|---|
| 1M | 0.62% | -4.69% |
| 3M | 2.03% | 0.93% |
| 1Y | 6.78% | -7.16% |
| 3Y | 7.45% | 6% |
| 5Y | 6.68% | 5.87% |
The recent pattern is constructive. Over 1 month and 3 months, the fund has held up better than the benchmark, which suggests a steadier short-term path than the index over the same window. The 1-year figure is also materially stronger than the benchmark, mainly because the benchmark was negative over that stretch while the fund stayed positive.
The longer record is more measured. The 3-year and 5-year returns are close to the benchmark and only modestly ahead, which tells us this is not a fund that has relied on a single sharp burst of outperformance. Instead, the compounding has been consistent enough to stay ahead over time without looking erratic.
The time pattern also matters. The fund’s short-term series shows only a mild rise, with a steadier path than the benchmark’s more uneven movement. That supports the idea of lower drama in day-to-day movement, which is what many debt investors want from this type of scheme. For investors, the key point is that the fund’s recent strength does not look disconnected from its medium- and longer-term profile.
Overall, the fund has been ahead of the benchmark across every listed period, but the edge is larger in the recent 1-year window than in the 3-year and 5-year windows. That makes the current return picture look supportive, while still keeping expectations grounded around moderate, not explosive, compounding.
Source data date: as of 09 Sep 2026
Should you BUY or HOLD Bandhan 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 Bandhan Money Market? Thinking of investing now?
Peer comparison
| Fund | 1Y return | 3Y return | 5Y return |
|---|---|---|---|
| Bandhan Money Market Fund Direct Growth Plan | 6.78% | 7.45% | 6.68% |
| 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.
The fund sits close to the stronger peer results on 1-year returns, with one peer slightly ahead and several peers clustered around the same range. That means the recent figure is competitive without being detached from the pack.
On 3-year and 5-year numbers, the picture is mixed. The fund is ahead of some peers on 3-year return, but another peer shows a slightly stronger 3-year and 5-year run. So the short-term story is fairly steady, while the longer-term comparison shows a narrow spread rather than a clear separation.
That mix matters for investors who care about consistency. The fund has enough history to show stable compounding, but the peer set also shows that similar funds can land in a tight band over longer periods.
Source data date: as of 09 Sep 2026
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Portfolio: where your money goes
| Holding | Sector | Weight |
|---|---|---|
| Small Industries Dev Bank of India ** | Certificate of Deposit | 10.11% |
| HDFC Bank Limited ** | Certificate of Deposit | 8.27% |
| National Bank for Agriculture and Rural Development ** | Certificate of Deposit | 6.48% |
| 182 Days Tbill (MD 17/12/2026) | Treasury Bills | 6.03% |
| Bank of Baroda | Certificate of Deposit | 4.66% |
| Punjab National Bank | Certificate of Deposit | 3.63% |
| Cholamandalam Investment and Finance Company Ltd ** | Commercial Paper | 3.57% |
| Indian Bank ** | Certificate of Deposit | 3.11% |
| Canara Bank | Certificate of Deposit | 2.97% |
| 364 Days Tbill (MD 10/12/2026) | Treasury Bills | 2.83% |
The largest holding is Small Industries Dev Bank of India at 10.11%, which is large enough to matter, but not so large that the portfolio relies on a single position. From the first holding to the tenth, weights step down from 10.11% to 2.83%, so the influence clearly tapers rather than staying flat across the top slice.
The top ten holdings together account for approximately 51.66% of the portfolio, which points to a meaningful but not extreme concentration in the listed slice. Because the scheme discloses 40 holdings in total, the remaining exposure is spread across a longer tail, which may help reduce dependence on any one security while still keeping a core set of larger positions in focus.
That structure is typical of a money-market style debt portfolio where quality and maturity profile matter more than broad market exposure. The mix leans heavily toward certificates of deposit and treasury bills, with commercial paper appearing as a smaller part of the book. In our view, that combination may support steadier behaviour, although short-term returns can still move around as rates and money-market conditions change.
To see all holdings, visit the Bandhan Money Market Fund Direct Growth Plan page
Source data date: as of 09 Sep 2026
Who should invest
This fund fits investors who are comfortable with a debt-oriented profile and want a relatively measured return pattern. The Balanced Risk label, along with the steady 3-year and 5-year compounding, suggests it is more suitable for investors who value stability over aggressive upside.
The better fit is likely an investment horizon of at least a few years, because the longer return record looks more representative than any single short period. The main trade-off is that the fund has been consistent, but not dramatically different from the benchmark over longer stretches, so expectations should stay grounded.
For investors comparing money-market style debt options, the portfolio tilt toward CDs and treasury bills may appeal if they prefer a core allocation built around shorter-duration instruments and a broad issuer spread. The recent 1-year strength is a positive sign, but the real case here remains steady compounding rather than standout upside.
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 |
No exit load after holding period.
Source data date: as of 09 Sep 2026
Frequently asked questions
What is the current NAV of Bandhan Money Market Fund Direct Growth Plan?
The NAV is ₹47.2588 as of 09 Sep 2026.
What are the 1-year, 3-year and 5-year returns?
The 1-year return is 6.78%, the 3-year return is 7.45%, and the 5-year return is 6.68%.
How has the fund compared with its benchmark?
It has stayed ahead of the benchmark across 1 month, 3 months, 1 year, 3 years and 5 years. The gap is widest over 1 year because the benchmark return is negative over that period.
How does it compare with peer money-market funds?
The 1-year return is competitive with the peer set, while the 3-year and 5-year figures sit in a fairly tight band with similar funds. One peer is slightly ahead on longer-term returns, but the differences are modest.
Does the fund have a minimum SIP?
The minimum SIP is ₹100.
Who manages the fund and what is the exit load?
The fund is managed by Brijesh Shah and Gautam Kaul. There is no exit load after the holding period.
Bottom line
Bandhan Money Market Fund Direct Growth Plan shows a steadier long-term profile than a dramatic one. Recent returns are stronger than the benchmark, while the 3-year and 5-year numbers show only a modest edge, which keeps the story consistent rather than flashy. The risk label is Balanced Risk, and the portfolio leans heavily toward CDs and treasury bills, which supports its debt-oriented character. It looks best suited to investors who want measured compounding and can accept that short-term gains may vary without expecting large upside swings.
Published on 10 September 2026 at 10:04 AM IST
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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.