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SIP: Sundaram Mutual launches SIP in Sundaram Money Fund

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Sundaram Mutual has introduced the launch of Systematic Investment Plans (SIPs) in Sundaram Money Fund, its open-ended liquid scheme. The fund home had additionally launched the moment redemption facility within the fund earlier this 12 months.

SIPs can be found within the progress choice for each common and direct plans of the fund, on transactions made via the Sundaram Mutual web site, branches, and RTA. The facility can be obtainable from November 13.

Users can use NACH/OTM to arrange Weekly, Monthly or Quarterly SIPs, stated the fund home. Weekly SIPs will likely be processed on Wednesdays, month-to-month SIPs on any day of the month and Quarterly SIPs on any day of the quarter starting January, April, July, and October. The minimal SIP quantity is Rs 1,000 and in multiples of Re 1 thereafter.

Commenting on the discharge of the brand new function, Mr. Sunil Subramaniam, Managing Director, Sundaram Mutual, stated, “Savings and present accounts are sometimes used to park surplus funds for unplanned bills, however liquid funds rating over them as they may give you doubtlessly larger returns attributable to ‘disintermediation’ and ‘friendlier capital good points taxation.”

“Sundaram Money Fund, already equipped with 24*7, 365 days instant redemption, is now a power-packed tool that 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, emergencies, etc. has now been eliminated as you can automate periodic additions to your investments and stay on track to building your corpus. This is one more step in Sundaram Mutual’s endeavour to add value to its core retail franchise,” he added.

Sundaram Money Fund is managed by Dwijendra Srivastava, Chief Investment Officer, Fixed Income and Siddharth Chaudhary, Senior Fund Manager, Fixed Income. The efficiency of the scheme is benchmarked in opposition to CRISIL Liquid Fund TRI.

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