Money & Banking

Sundaram Mutual launches ‘Any-day SIP’

Our Bureau Mumbai | Updated on July 29, 2020 Published on July 29, 2020

Sunil Subramaniam, Managing Director, Sundaram Mutual Fund   -  PAUL NORONHA

Sundaram Mutual has given investors the freedom to select a date on which their systematic investment plan (SIP) needs to be deducted from bank account rather than choosing from the six different dates usually fixed by the fund houses.

The ‘Any-day SIP’, which is available in all open-ended schemes, will be available for transactions made through the Sundaram Mutual website starting July 29. Investors can also choose to modify their existing SIP date on the Sundaram Mutual platform.

Quarterly SIPs can also be scheduled for any day of the quarter beginning January, April, July, and October.

Sunil Subramaniam, Managing Director, Sundaram Mutual, said SIP investments were hitherto restricted to certain specific dates in a month. The fund is now enhancing the flexibility and convenience available to investors as they can now choose SIP dates that suit their individual needs. This is another endeavour to strengthen and grow core retail franchise, he added.

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Published on July 29, 2020
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