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Reliance Mutual Reduces Minimum Investment Amount For SIP |
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Written by Adiban_Maran
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Friday, 06 April 2007 |
Aspiring to assist increased amount of people access the advantages of mutual funds investment as well as the equity markets, Reliance Mutual Fund has brought down its minimum investment amount in its Systematic Investment Plan (SIP) to Rs 100 per month.
Reliance Mutual Fund is the foremost Asset Management Company (AMC) in the country to present SIP investment at a lower monthly rate.
At present, the least investment for SIPs provided by the majority of fund firms differs from Rs 500 to Rs 1,000.
Vikrant Gugnani, President and CEO, Reliance Mutual Fund said, “The shift will lessen the entry barrier considerably.”
But the other fund managers from the mutual fund trade alleged it could boost the cost of servicing the accounts.
According to a fund manager a fixed deposit for a small investor would provide enhanced returns and bring him to minimum risk.
A methodical investment plan helps sorted out, normal equities investments. With the entry level of SIP at Rs 100 monthly, investors would be in an improved situation to make use of “rupee cost averaging” as investments extend frequently over a time period, which would bring the average cost per unit down.
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