LIC Mutual Fund has introduced a new facility, called Daily SIP, through which your clients can invest in mutual funds through SIP on a daily basis. The minimum amount under this facility is Rs.300. This means, investing daily with Rs.300 across 22 working days will lead to a monthly investment of Rs. 6,600.
To start with, the fund house has introduced this facility in its five equity schemes – LIC MF Equity Fund, LIC MF Growth Fund, LIC MF Midcap Fund, LIC MF Infrastructure Fund and LIC MF Index Fund – and two hybrid schemes – LIC MF Balanced Fund and LIC MF Monthly Income Plan.
Rajesh Patwardhan, Chief Marketing Officer of LIC Mutual Fund, says “The current financial year has seen a surge of 56% in mutual funds through SIP investments. Mutual Fund SIP is gaining recognition among investors as it encourages investing in a disciplined manner without worrying about market volatility and timing the market. We believe that while SIP is a better route to invest in equity, Daily SIP will further help in beating the market volatility and benefit our investors from rupee cost averaging.”
According to AMFI data, mutual funds have added about 9.26 lakh SIP accounts every month on an average during 2017-18, with an average SIP size of about Rs.3,300 per account.
“We as a fund house are bullish on the market and expect an increased inflow into the equity markets,” the CMO added.
Currently, the fund house has a SIP book of around Rs.23 crore every month.
