Baroda BNP Paribas Mutual Fund has introduced a wealth-building and regular income solution called Lakshya SIP—a combination of Systematic Investment Plan (SIP), and Systematic Withdrawal Plan (SWP), designed to help investors achieve their financial goals and help them get regular monthly income.

Lakshya SIP allows investors to save systematically for varying periods—8, 10, 12, or 15 years—through a monthly SIP in one of the equity-oriented schemes offered by Baroda BNP Paribas Mutual Fund. At the end of the chosen SIP period, the accumulated investment is switched into one of the five hybrid schemes of Baroda BNP Paribas Mutual Fund as per investor choice after which a pre-set Systematic Withdrawal Plan starts, providing a regular monthly income.

"Driven by strong demography and supportive policy environment, India is expected to remain the fastest growing major economy in the world.  Indian equities offer a structural wealth creation opportunity. Our savers have traditionally been under-allocated to equities but we have seen a welcome change in recent times. Mutual funds are gaining traction as more investors recognize the importance of equity markets for wealth creation. Lakshya SIP helps investors save systematically and enjoy the power of long-term compounding. We believe long-term investments like this will help both investors and our markets become Atmanirbhar,” said Suresh Soni, CEO, Baroda BNP Paribas AMC.