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New Delhi. There is good news for small investors. Actually, LIC Mutual Fund plans to introduce a small amount Systematic Investment Plan (SIP). The company plans to start a daily SIP of Rs 100, while the current limit for the fund house is Rs 300. The company's MD and CEO RK Jha gave this information.
This decision has come at a time when market regulator Securities and Exchange Board of India (SEBI) is advocating small SIPs so that investors' participation is higher. Recently SEBI Chairperson Madhavi Puri Buch talked about micro-SIP.
Daily wage laborers will also be able to take advantage of the stock market boom.
Speaking at an event organized to launch the NFO on manufacturing fund in Mumbai, RK Jha said that the AMC is working with registrar KFintech Services. LIC Mutual Fund plans to reduce the current limit of minimum SIP amount to Rs 100 per day and Rs 200 for monthly SIP. He said that this move will help the fund house reach those sections of the society that have not benefited from the stock market boom.
LIC Mutual Fund will increase AUM
Jha further said that the fund house is aiming to increase its asset under management (AUM) from Rs 35,000 crore to Rs 65,000 crore by the end of this financial year and to Rs 1 lakh crore by the end of FY 2025-26.
What is SIP?
SIP is the easiest way to invest in mutual funds. Under SIP, the investor invests a fixed amount at regular intervals. A fixed amount is deducted from your bank account at regular intervals and invested in SIP.
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