As systematic investment plans (SIP) emerge as an attractive vehicle to invest in equity for the long term, fund houses are trying to make the proposition more friendly.
JM Financial Mutual Fund recently unveiled an ‘any day’ facility for monthly SIP schemes. It also allowed daily SIP and STP (systematic transfer plan) facilities on any day. Earlier, the fund house used to offer a monthly SIP facility for any day from the 1st to 28th. Some fund houses offer flexibility in choosing SIP dates.