Now, you can recommend innovative SIP options to your clients, thanks to NSE NMF II.
NSE NMF II has introduced multiple SIP options such as iSIP by Reliance MF, CSIP by Aditya Birla MF, Daily SIP by HDFC MF and SIP Plus by ICICI Prudential MF and most recently the platform has introduced ‘Goal SIP’ by Mirae Asset on their platform.
While most SIP options such as CSIP and SIP Plus are bundled products offering free term insurance along with the SIP, Mirae Asset’s Goal SIP enables investors to dedicate a SIP investment to a goal. Having a goal adds discipline to investment and reduces the tendency to time the market. An investor specifies a target value while starting the SIP. However, the investment does not auto redeem on achieving the target value but the investor is free to redeem the investments.
Initially, this facility was only available offline. However, on Monday, Mirae Asset Goal SIP went live on NSE NMF II platform. Sharing the rationale for launching goal SIP on the NSE platform, Swarup Mohanty, CEO, Mirae Asset Global Investments (India) said that the facility has seen good amount of traction (via physical investments) amongst investors since its launch. Offering the facility on the NSE platform would allow them to reach a large number of advisors and increase their digital presence. “We are really excited with this partnership and look forward to reaching a wider audience through this online channel,” he added.
Talking about the integrating innovative SIPs on the platform, Chetan Doshi, Vice President – Mutual Funds Business Development, NSE NMF II said that the team wants to build a robust platform encompassing all major investment facilities offered by different AMCs. He said, “Integrating these five facilities is the first step in that direction. In addition to their platform, these facilities will also be available on API for whitelisting that means clients can also opt for these facilities from advisor’s website.”
A Bengaluru advisor Sudhendra Lakshmana Rao of INPRISM Services India who has registered 440 SIPs in a single day and 703 SIPs in a week amounting Rs.19 lakh said that ICICI Pru’s SIP plus feature available on NSE NMF II is among his recommendation list. He said, “We knew that only a few clients had sufficient insurance coverage. Thus, a free term insurance was like an added benefit for our clients. Having the SIP Plus facility on the platform enabled us to invest and insure clients simultaneously.”
In future, NSE NMF II would introduce top up SIPs through which your clients can make changes to SIP amount.
