The facility is open to new and existing investors from December 6th, 2012.
BOI AXA Investment Managers announced the launch of BOI AXA SIP Shield which offers life insurance cover at no extra cost to investors.
The facility is open for all new and existing investors starting December 6th, 2012.
Commenting on the launch, Mr. Bruno Guilloton of AXA Investment Managers said, “This is as a positive step by the local AMC to establish itself as a credible fund house for retail customers”.
“This is a good product for retail investors who would like to invest through SIPs for financial goals like child’s education or marriage and retirement. The insurance cover provides the necessary shield against any eventuality,” said Mr. Sandeep Dasgupta, CEO of BOI AXA Investment Managers.
Reliance and ICICI Prudential also offer insurance with SIPs in some of their select schemes.
Bank of India re-entered the mutual fund business by acquiring 51% stake (25 % from Bharti Enterprises and 26 % from the Axa Investment Managers Asia Holdings) in the erstwhile Bharti Axa AMC. The remaining 49% is held by Axa Group.
