Groww Money Market Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?

Groww Money Market Fund Direct Growth Plan currently has a NAV of ₹10.4899 as of 16 Sep 2026 and scheme AUM of ₹61 Cr. Its 1-year, 3-year and 5-year returns are 0%, 0% and 0%, and the risk category is Balanced Risk.

Our view is that this is a short-history debt scheme with a conservative-looking portfolio structure, but the return record is still too limited to build a long performance track record. The current profile may suit investors looking for a money-market-style allocation with low expense drag, while still accepting that the fund has only recently launched and has not yet built multi-year return evidence.

Quick facts

Particular	Details
NAV	₹10.4899 as of 16 Sep 2026
AUM	₹61 Cr
Expense Ratio	0.0%
Launch Date	19 Nov 2025
Min SIP	₹500
Risk Category	Balanced Risk
Benchmark	Nifty 50
Fund Category	Debt
Exit Load	No exit load
Fund Managers	Kaustubh Sule, Wilfred Gonsalves

The fund is managed by Kaustubh Sule and Wilfred Gonsalves.

Source data date: as of 16 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	0.48%	-4.41%
3M	1.68%	-3.6%
1Y	Data not available	Data not available
3Y	Data not available	Data not available
5Y	Data not available	Data not available

The short-window numbers show a fund that has stayed positive over both 1 month and 3 months while the benchmark has been weaker over the same windows. That is a meaningful sign of relative steadiness in the near term, especially for a debt scheme that is expected to protect capital better than an equity benchmark.

The daily pattern across the 1-month and 3-month periods also looks restrained rather than volatile. The fund appears to have moved in small steps with limited drawdown, which supports the idea that it has been behaving more like a short-duration cash-management allocation than a return-chasing product.

Longer-term interpretation is more limited because the fund launched only in November 2025. That means the 1-year, 3-year and 5-year figures are not available as meaningful trailing records, so we would place more weight on the recent stability than on any longer-run compounding story.

Against the benchmark, the fund has been ahead in the recent periods shown, while the benchmark itself has been negative. That gap matters most for investors who care about preserving stability over short holding periods rather than matching equity-style upside.

Source data date: as of 16 Sep 2026

Should you BUY or HOLD Groww 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.

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Peer comparison

Fund	1Y return	3Y return	5Y return
Groww Money Market Fund Direct Growth Plan	Data not available	Data not available	Data not available
Union Money Market Fund Direct Growth Plan	6.82%	7.23%	6.48%
Bank of India Money Market Fund Direct Growth Plan	6.7%	Data not available	Data not available
Tata Money Market Fund Direct Growth Plan	6.69%	7.53%	6.84%
LIC MF Money Market Fund Direct Growth Plan	6.69%	6.81%	Data not available
Bandhan Money Market Fund Direct Growth Plan	6.68%	7.42%	6.67%

This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639. The fund’s recent return profile is not directly comparable with the peers that have full multi-year records because its own trailing history is still unavailable. Among the peers with available 1-year figures, the current fund trails the displayed returns, but the more important distinction is that several peers also show usable 3-year and 5-year figures while this fund does not yet have that history.

That means the short-term comparison tells a different story from the longer-term one. In the near term, the fund has been steady relative to the benchmark, but against peers with established histories it still has to prove itself over time. For readers who want a short-liquidity debt sleeve, the recent behaviour is relevant; for readers who want a multi-year comparison, the present evidence remains incomplete.

Source data date: as of 16 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
Reverse Repo 01-Sep-26	Cash & Cash Equivalents and Net Assets	10.59%
Axis Bank Limited 14-Jan-2027**#	Certificate of Deposit	8.23%
HDFC Bank Limited 11-Sep-2026**#	Certificate of Deposit	8.09%
Exim Bank 04-Nov-2026**	Commercial Paper	8.02%
Bank of Baroda 06-Jan-2027**#	Certificate of Deposit	7.13%
Punjab National Bank 09-Feb-2027**#	Certificate of Deposit	7.09%
Kotak Mahindra Bank Limited 29-Jan-2027**#	Certificate of Deposit	6.31%
Union Bank of India 15-Mar-2027**#	Certificate of Deposit	5.95%
Bajaj Finance Limited 03-Sep-2026**	Commercial Paper	4.86%
Kotak Mahindra Prime Limited 07-Sep-2026**	Commercial Paper	4.86%

The largest disclosed holding is Reverse Repo 01-Sep-26 at 10.59%, which gives the portfolio a meaningful cash-and-equivalent anchor. The next few positions are mostly certificate of deposit exposure, and the weights remain fairly close together rather than dropping sharply after the first line.

By the tenth disclosed holding, the weight is still 4.86%, so the fall from the largest position is moderate rather than steep. That pattern suggests the fund is not relying on one outsized security; instead, influence is spread across a cluster of short-maturity instruments and bank-paper exposures.

The top 10 holdings account for approximately 71.13% of the portfolio, and the scheme discloses 20 holdings in total. Our view is that this points to a reasonably compact core, with a longer tail beyond the displayed list that may still matter, but the visible slice already carries most of the portfolio weight.

To see all holdings, visit the Groww Money Market Fund Direct Growth Plan page

Source data date: as of 16 Sep 2026

Who should invest

This fund may suit investors who are comfortable with a debt-oriented allocation and want a relatively steady short-horizon holding rather than a long history of compounding. The Balanced Risk label and the subdued recent movement both point to a profile that is more about stability than aggressive growth.

The key trade-off is that the recent benchmark comparison looks better than the benchmark itself, but the fund does not yet have meaningful multi-year return history. That makes it a better fit for readers who value short-term liquidity management and can accept limited performance visibility over longer horizons. The concentrated but still diversified mix of CDs, commercial paper and cash equivalents supports that use case.

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 16 Sep 2026

Frequently asked questions

What is the current NAV of Groww Money Market Fund Direct Growth Plan?
The current NAV is ₹10.4899 as of 16 Sep 2026.

What are the fund’s recent returns?
Its 1-month return is 0.48% and its 3-month return is 1.68%. The trailing 1-year, 3-year and 5-year return fields are not available in the current record.

How has it compared with the benchmark recently?
It has been ahead of the benchmark in the recent periods shown. The benchmark figures are -4.41% for 1 month and -3.6% for 3 months, while the fund remains positive.

How does it compare with peer funds on available return data?
Peers with available history show 1-year returns around 6.68% to 6.82%, while this fund does not yet have a usable 1-year figure. Several peers also have 3-year and 5-year records that this fund does not yet match.

What is the minimum SIP amount?
The minimum SIP amount is ₹500.

What risk label, portfolio style and exit load does it have?
The fund carries a Balanced Risk label. Its visible holdings are led by reverse repo, certificate of deposit and commercial paper exposure, and it has no exit load. The fund is managed by Kaustubh Sule and Wilfred Gonsalves.

Bottom line

Groww Money Market Fund Direct Growth Plan shows a short-term profile that has held up better than its benchmark in the recent windows shown, but its longer-term return record is still incomplete. That makes the current evidence more useful for stability-minded readers than for anyone trying to compare a mature multi-year track record. The portfolio is anchored by reverse repo and short-dated bank-paper exposure, which fits a cash-management style allocation. Our view is that it is most relevant for investors who want a cautious debt sleeve and can accept limited history.

Published on 17 September 2026 at 12:53 PM 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.