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Sundaram Mutual has launched systematic investment plan in Sundaram Money Fund. The fund house had also launched the instant redemption facility in this fund earlier this year. SIPs are available in the growth option for regular and direct plans from Friday. Users can use NACH/OTM to set up weekly, monthly or quarterly SIPs. Weekly SIPs will be processed on Wednesdays, monthly SIPs on any day of the month and quarterly SIPs on any day of the quarter beginning January, April, July, and October. The minimum SIP amount is ₹1000.
Sunil Subramaniam, Managing Director, Sundaram Mutual Fund, said usually savings and current accounts are used to park surplus funds for unplanned expenses, but liquid funds score over them as they can give you potentially higher returns due to ‘disintermediation’ and ‘friendlier capital gains taxation’.
Sundaram Money Fund allows you to set up SIPs for your surplus, ensuring that your hard-earned money is put to better use regularly. The need to manually transfer funds for your short-term goals and emergencies has now been eliminated as one can automate periodic additions to investments and stay on track to build a corpus, he added.
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