Mahindra Manulife MF automates SWP process

Mahindra Manulife Mutual Fund has introduced a new feature ‘Power SIP Facility’, which enables investors to generate regular income automatically. 

Overall, the facility eliminates the need of setting up SWP after doing long term SIPs. 

Let’s see how it works: Investors will have to do SIPs in any scheme of Mahindra Manulife MF for at least 8 years. After 8 years, the fund house will shift 80% of the accumulated corpus based on the prevailing NAV to the target scheme that will generate regular income for investors through SWP. The remaining 20% will remain invested in the source scheme. The fund house will shift the remaining amount to the target scheme after 3 years.

While investors can still do this manually, the fund house has simply made it automatic. 

In a press release, Anthony Heredia, MD & CEO Mahindra Manulife states that the facility offers comprehensive solution to investors to create wealth and make withdrawals. Heredia said, “Through this facility, our customers may enjoy a regular income stream while still benefiting from the potential growth of their investments."