What is your view regarding L&T Hybrid Equity Fund (erstwhile L&T India Prudence). I have my investments in it. Also, what is a money market fund and can anyone invest in it?
L&T Hybrid Equity Fund has been a good performer among aggressive hybrid funds. The benefit of an aggressive hybrid fund lies in its 75:25 debt equity asset allocation which provides you growth along with stability. Its in-built fixed income exposure acts as a cushion during falling markets. These funds simplify the rebalancing task and automatically restore the original asset allocation. Such funds are a good starting point and are suitable for every type of investor.
Coming to the second question, a money market fund is a kind of mutual fund that invests in highly liquid money market instruments (such as commercial papers) having a maturity of up to one year. Since every type of investor can invest in every type of fund, therefore anybody can invest in a money market fund also.