NRI from all over the world (excluding U.S.A. & Canada) can invest in this fund

INVEST VIA NRE/NRO

Axis Money Market Fund Growth for NRI [1324.17]

Min Investment

5,000

Fund Size

9,712.92 Cr

Expense Ratio

0.3%

Exit Load

0%

SBNRI is a certified Mutual Fund distributor registered with Association of Mutual Funds in India (AMFI) with Reg. No. 246671

1324.17

0.02%

NAV as on 22 Jun 24, 12:00 AM

low to moderate risk

money market

debt

NAV as on 22 Jun 24, 12:00 AM

low to moderate risk

money market

debt

7.46%p.a.

Last 1Y

5.95%p.a.

Last 3Y

0.00%p.a.

Last 5Y

5.91%p.a.

Since Inception

About Axis Money Market Fund Growth for NRIs

NRIs can achieve long-term capital appreciation by investing in the Axis Money Market Fund Growth scheme from Axis Asset Management Company Limited. It is a Money Market mutual fund scheme that predominantly invests in Money Market stocks of companies. Launched on Aug 2019, Axis Money Market Fund Growth is Money Market fund of its category with 9,712.92 Cr fund under management as on Jun 2024. The expense ratio of this fund is less than that of most other Fund category Money Market funds.

  • Axis Money Market Fund Growth delivered 7.5% annual returns during the last year. It has delivered 5.9% average annual returns since the fund was launched.
  • Axis Money Market Fund Growth scheme tends to consistently deliver higher returns than most schemes in the same category.
  • The scheme has predominantly invested in debt

Fund Objective

To generate regular income through investment in a portfolio comprising of money market instruments. However, there can be no assurance that the investment objective of the Scheme will be achieved.

Top 10 Holdings

India (Republic of)

2.27%

India (Republic of)

1.83%

08.03 GJ Sdl 2025

1.76%

ICICI Bank Ltd.

1.70%

IDFC First Bank Ltd.

1.70%

07.89 GJ Sdl 2025

1.20%

05.89 AP Sdl 2025

1.18%

364 DTB 26122024

1.15%

India (Republic of)

1.14%

HDFC Bank Ltd.

1.14%

Fund Managers

  1. Devang Shah (Aug 2019 - Present)
  2. Aditya Pagaria (Aug 2019 - Present)
  3. Sachin Jain (Nov 2021 - Present)

Key Information

View Scheme Document

Axis Money Market Fund Growth SIP Calculator

If invested

5,000

per month

For a period of

Investment of 0 could have been

0(+0.0%)

0 (+0.0%)

This Fund

0 (+0.0%)

Fixed Deposit

NRI Mutual Fund Tax on Axis Money Market Fund Growth

Just like for resident investors, capital gains from mutual fund investments are subject to income tax for NRI investors.

Fund TypeShort-term Capital Gains (STCG) TaxLong-term Capital Gains (LTCG) Tax
Equity mutual funds15%10% (above Rs. 1 lakh LTCG) without indexation*
Debt & other types of fundsAt tax slab rate20% with indexation benefits

How can NRIs invest in Axis Money Market Fund Growth?

NRIs and OCIs can download the SBNRI app to invest in mutual funds from the country of their residence. Here are a few simple steps you need to take:

  • Complete your NRI KYC: Type in your personal details and attach supporting documents, like:
  • PAN Number
  • Overseas address proof: Any of – Water/electricity bill, postpaid mobile/internet bill, rent agreement, driving license, etc.
  • Passport – front and back
  • Passport size photograph
  • signature

If all details are correct, your KYC will be approved within 7 to 8 business days.

  • Onboarding: After KYC, you need to share the following details to complete onboarding process and start investing in Axis Money Market Fund Growth
  • Onboarding: After KYC, you need to share the following details to complete onboarding process and start investing:
  • City and country of birth
  • NRE/NRO bank account statement/ canceled cheque for the latest 3 months
  • Nominee details

Frequently Asked Questions