Mirae Asset Emerging Bluechip Fund SIP news: Investors can now register SIP up to Rs 25,000 per PAN per month into Mirae Asset Emerging Bluechip Fund with effect from October 10, 2023.

The fund house had restricted flows into the scheme to Rs 2500 through monthly SIP in November 2020. This decision to restrict SIP flows was based on multiple factors like investment universe, market depth and liquidity, fund size etc.

Explaining the reason behind allowing increased SIP flows, Mirae Asset AMC said, “Since Nov 2022, we have seen equities scaling new highs with Nifty 50 Index, Nifty Midcap 150 Index and Nifty Smallcap 250 Index rising approx. 1.6 times, 2.2 times and 2.4 times respectively as on 30 Sept 2023.”

The AMC said it received “constant feedback from investors and partners for some time to increase the SIP subscription limit to a reasonable level with a view to have a meaningful participation in the scheme.”

“However, in the interest of existing investors, we are still not accepting lumpsum in the scheme. We believe that graded and predictable SIP flows on the current size of the scheme will provide the necessary agility and flexibility to fund manager,” it added.

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Change in Scheme Information Document (SID)

The following revised provisions in the SID have been approved. They will be effective from October 10:

  • Fresh Registration through SIP shall be allowed for a maximum of up to Rs.25,000/- through Monthly frequency cumulatively aggregated across all available SIP Dates of each month before the cut off time of 15:00 hours on any business day.
  • SIP shall not be available through Quarterly frequency under the scheme and remains suspended.
  • The limit of Rs.25,000 through SIP route (monthly frequency) shall be aggregated and applicable at primary holder PAN level for each new application received.

Investors should note that all applications made differently in the name of the minor and also in the name of the guardian under the same PAN will be considered as applications submitted under the same PAN, for the purpose of aggregation and the said threshold will be applicable collectively.

How much you can invest

  • In case the existing SIP is equal to or less than Rs 2,500: Fresh SIP Registration up to Rs. 25,000 allowed at the PAN level
  • In case the existing SIP is equal to or less than Rs 25,000: Fresh SIP Registration up to Rs. 25,000 is allowed at PAN level.
  • In case the existing SIP is greater than Rs 25,000: Fresh SIP Registration up to Rs. 25,000 is allowed at PAN level.
  • In case of no registration under this scheme: Fresh SIP Registration up to Rs. 25,000 is allowed at PAN level.

“The revised provisions shall be applicable for all fresh registrations from the Effective date. All other terms and conditions of the Scheme will remain unchanged,” the AMC said.

Scheme Performance

According to information on the AMFI website as of October 5, the following has been this scheme’s performance since inception:

1-year performance: The direct plan of this scheme has given 19.53% return while the regular plan has given 18.37% return in 1 year.

3-year performance: The direct plan of this scheme has given 25.24% annualised returns while the regular plan has given 23.99% returns in 3 years.

5-year performance: The direct plan of this scheme has given 20.33% annualised returns while the regular plan has given 19.22% returns in 5 years.

10-year performance: The direct plan of this scheme has given 25.37% annualised returns while the regular plan has given 24.21% returns in 10 years.

Performance since inception: The direct plan of this scheme has given 22.43% annualised returns while the regular plan has given 19.99% returns since launch.

Disclaimer: The above content is for informational purposes only. Mutual Fund investments are subject to market risks. Please consult your financial advisor before investing.