I have invested for an emergency fund in Reliance Money Manager Fund. Want to know is it good fund to invest?
Sachetna-When you said Emergency Fund, I feel you must park this in such an instrument where liquidity is at HIGH. Hence, in my view you must distribute it among Savings Account, e-FDs and Liquid Funds equally. Because Reliance Money Manager Fund is Ultra Short Term Fund and liquidity may be an issue (delay of 2-3 days). This delay may sometimes not be useful when you say EMERGENCY FUND. Also, ideally one must not expect a return from an emergency fund. But the main motto should be liquidity.
I have a reliance atmATM with this ATM I can withdraw my 50% amount at one time and after 24 hrs i can withdraw 50% of remaining total amount. I just wantknow is this fund or any another better option
Sachetna-If they provided the ATM and you are comfortable with liquidity issue then go ahead. Such funds always provide some high return when compare to liquid funds. I said so considering the liquidity issue. You can continue the same.