July 9, 2012 12:08 pm
Can any one shed some light on this MF:RELIANCE MONEY MANAGER FUND – RETAIL OPTION – DAILY DIVIDEND PLAN – DIVIDEND REINVESTMENT. Let me know any of u guys invested in it.
Thanks a lot For your quick reply. So I will keep the emergency found of 3 month expense in an S.B a/c and remaining amount in this MF. Lets c how it goes
I havent invested yet in this. My friend has invested in this fund. According to him it works better than SB A/c as it has flexibility to withdraw the amount any time and it earns the dividend daily. It gives better return than S/B a/c does. This is good for parking the emergency fund rather than parking the money in an S.B a/c. Need your opinion on this.
Dear Krishna, whatever your friend has told you is partially true & partially false. The fund in question earns better return than SB account is true. Although Redemption is from the fund is not on immediate basis but you w’d have to wait for at least 24 Hrs to get your money credited into your bank account.
Regarding parking of emergency fund, first park say 3 months’ expense figure in SB account & then remaining 3-6-9 months’ emergency fund should be in this fund.
Hope it helps you to decide.
As Ashal mentioned, without knowing your investment objective, time horizon, etc. it would be difficult to let you know if the selected fund is suitable for you.
Dear Krishna, May I know some back ground of your query? Have you invested in this plan already or want to invest? If yes, what’s the purpose of your investment? If it’s linked with any goal or are you investing just for the sake of investing?
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