Investors can start their investment from Rs 100
Reliance Capital Asset Management has launched SIP
investment in mutual fund through SMS for increasing its penetration among the 900
million mobile users in India.
Speaking on the occasion of the launch, Sundeep Sikka,
CEO, Reliance Capital Asset Management, said, “ This unique feature will make
it cost efficient, and convenient for over 900 million mobile users across the
country to participate and make investments in mutual funds.”
The facility is launched under invest easy initiative, a
comprehensive transaction platform that aims to use technology for making it
convenient for investors to invest in mutual funds. The AMC currently has over
2.5 lakh customers under invest easy initiative that allows investors to
transact online on the net, on their mobiles, through call center and now using
SMS.
The minimum SIP for most funds starts from Rs 100 per fund. “We have around 2 million SIPs with over 40 per cent of these coming from non-metros. A huge challenge for the industry has been to reach out to small ticket investors and help them invest in the Mutual Fund sector. This initiative will help us strengthen our reach and enable an investor to directly invest in the schemes using their phones”, said Sandeep Sikka.
