Shriram AMC Launches New Money Market Fund: Boosting Fixed Income Offerings

Shriram Asset Management Company Limited has launched the Shriram Money Market Fund, an open-ended debt scheme as part of its fixed income offerings. Targeting high liquidity and regular income, the fund invests in money market instruments with up to a one-year maturity. The launch aligns with Shriram AMC's strategy to enhance its fixed income market presence.

Shriram Asset Management Company Limited, a branch of the Shriram Group, has unveiled its Shriram Money Market Fund, an open-ended debt scheme aimed at expanding its fixed income offerings. This new fund will focus on high-quality money market instruments with maturity periods of up to one year, targeting regular income and maintaining high liquidity with a controlled risk profile, as per regulatory norms.

Money market funds have gained popularity among investors seeking short-term surplus fund options. This trend is reflected in the significant growth of money market fund assets under management, which have tripled since late 2022. Shriram AMC's new fund launch is a strategic move aimed at leveraging this rising demand for effective cash management solutions.

The fund's introduction follows the appointment of Amit Modani as Senior Fund Manager, further strengthening Shriram AMC's fixed income capabilities. The company plans to broaden its product pipeline with more liquidity, duration, and risk management solutions tailored to a diverse investor base including institutional treasuries, corporates, and retirees.

(With inputs from agencies.)