LIC Mutual Fund launches daily SIP scheme for investors

By: |
Published: January 25, 2018 3:22:50 PM

LIC Mutual Fund today said it has introduced a daily SIP scheme, a move which will help it achieve 30 per cent growth in its SIP portfolio.

LIC Mutual Fund, SIP scheme, SIP portfolio, marketsLIC Mutual Fund today said it has introduced a daily SIP scheme, a move which will help it achieve 30 per cent growth in its SIP portfolio. (Image: IE)

LIC Mutual Fund today said it has introduced a daily SIP scheme, a move which will help it achieve 30 per cent growth in its SIP portfolio. Under the plan, LIC MF is offering investors the option to invest in SIPs (systematic investment plans) with as low as Rs 300 per day which would be available in five equity schemes. These are LIC MF Equity Fund, LIC MF Growth Fund, LIC MF Midcap Fund, LIC MF Infrastructure Fund and LIC MF Index Fund. Investors can also put in daily SIPs in two hybrid schemes, LIC MF Balanced Fund and LIC MF Monthly Income Plan.

The fund house which clocks an SIP inflow of around Rs 23 crore every month expects the number to go up to Rs 30 crore (30 per cent growth) following the rise in daily inflow. “Through daily SIP, the fund house is trying to promote the habit of investing daily and the aim is to create wealth through investing daily with a minimum sum of Rs 300 across 22 working days, which will lead to a monthly investment of Rs 6,600,” LIC MF said in a statement.

LIC Mutual Fund chief marketing officer Rajesh Patwardhan noted that the the current financial year has seen a surge of 56 per cent in mutual funds through SIP investments. “Mutual Fund SIP is gaining recognition among the investors as it encourages investing in a disciplined manner without worrying about market volatility and timing the market,” Patwardhan said. “We believe that while SIP is a better route to invest in equity, daily SIP will further help in beating the market volatility and benefit our investors from rupee cost averaging,” he added.

Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Next Stories
1Global brokerages cheer PSU bank recap: Here are top stock picks
2Karnataka bandh effect: Wipro declares holiday for staff on Thursday
3Shares of IDBI Bank, SBI, PNB, BOB, Bank of India, CBI, UCO Bank, Maruti Suzuki, UPL, Dr Reddy’s, Canara Bank in focus today