There is good news for those who want to invest in mutual fund schemes daily through SIP. LIC Mutual Fund has started the facility of investing in its mutual fund schemes through SIP of Rs 100 per day.
This will benefit those who have daily income. They will be able to invest a part of their income in LIC Mutual Fund schemes daily. It will be very easy for self-employed people like shopkeepers, artisans, mechanics to invest through SIP of Rs 100 daily. This facility has started from 16 October.
Facility of investing through SIP every quarter
LIC Mutual Fund has allowed investment of Rs 100 per day in SIP in all its schemes except LIC MF ELSS Tax Saver and LIC MF ULIP. The condition for daily SIP is to invest at least 60 installments. If investors want to invest through monthly SIP, then they can invest in LIC Mutual Fund schemes through SIP of just Rs 200 every month. For this, the minimum installment should be at least 30.
People with low income will also be able to invest in mutual funds
If an investor wants to invest every quarter, he can invest a minimum of Rs 1000 every quarter in LIC Mutual Fund scheme through SIP. Some time ago, SEBI had announced to start SIP of small amount to bring the mutual fund schemes within the investment scope of the people. SEBI Chairperson Madhabi Puri Buch has also mentioned micro SIP many times. She believes that through this, a large part of the population can invest in mutual fund schemes and benefit from higher returns.
Villages and towns will also come under the purview of mutual fund schemes
RK Jha, Managing Director and CEO of LIC Mutual Fund, said that the launch of small-ticket SIP will give people of small cities and towns an opportunity to invest in mutual funds. This will help in bringing more and more people across the country into the ambit of financial services. LIC Mutual Fund is one of the largest asset management companies in India.
