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POSTED BY ON October 11, 2013 10:35 am COMMENTS (7)
I had set aside 50,000 as my emergence fund. Im just confused of where to park this fund. Recently had started on “RELIANCE MONEY MANAGER FUND”.
http://www.reliancemutual.com/OurSchemes/SchemeDetails.aspx?Id=197
Is this a good option to park our emergency fund?
Else which all are other options? SB account only?
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Dear Dr. Sachin, please check this. The minimum redemption amount is 500 Rs.
reliancemutual. com/RMFAdmin/UploadResources/Schemes/LP/Reliance%20Money%20Manager%20Fund-july13.pdf
Regarding ‘Reliance Money Manager Fund’ , I have searched on how much amount we can withdraw at a time. But i didn’t get a accurate answer. Do anyone know?
Dear Mustafizur, are you not keeping some amount in sweeping FDs? You may keep some amount in the Liquid funds of the AMCs where you are also having Eq. fund like HDFC (Top 200) or Quantum (Long Term Eq.) or Ipru (Focussed Bluechip) or Franklin (India Bluechip).
Thanks
Ashal
Dear Ashal,
Yes, I have in sweeping FDs. I was looking to divide total amount I intend to keep in liquid funds in 2 liquid funds. I was finding few good funds as Reliance MM, Peerless Ultra Short Term, Axis Liquid, BSL ultra short life but I don’t think any of these AMCs have a good long term eq. fund. Any specific reason you suggested me to keep the money in a liquid fund from same AMC where I have eq. fund?
Dear Mustafizur, to keep the operation simple, I was asking to keep the amount in same AMC. If you feel you can earn significant amount from these funds (suggested by you), please feel free to invest.
Thanks
Ashal
Dear Ashal,
Can you please give me 1/2 more option to park emergency money in a liquid fund? For my emergency fund, I would like to distribute the money in 2 funds rather than just depending on only one fund. Any suggestions please?
Thanks,
Rahaman
Dear Dr. Sachin, Yes it’s a good fund to park your money.
Thanks
Ashal