LIC MF May Launch Rs 100 SIPs In October

September 21, 2024 09:08

Khushboo Tiwari/Business Standard

LIC Mutual Fund plans to launch smaller ticket-size systematic investment plans (SIPs) of Rs 100 by the first week of October, said R K Jha, its MD and CEO.

The decision comes at a time when Sebi has been advocating lower-size SIPs to allow more participation from investors.

In its initiative to make it more accessible, the market regulator has been working on measures to make Rs 250 SIP more cost-effective and viable for fund houses.

At present, there are a few fund houses that offer SIPs below Rs 500.

LIC MF plans to bring down the minimum daily SIP amount to Rs 100 from the current limit of Rs 300. For monthly SIPs, it will be brought down to Rs 200 from Rs 1,000.

"We will bring the addendum for lowering SIP amounts on October 7," said Jha.

Jha was speaking on the sidelines of the launch of its new fund offering (NFO) -- LIC MF Manufacturing Fund -- an open-ended equity scheme focusing on the manufacturing theme.

The fund house believes that push from the government and global shift in supply chain to China+1 are in favour of the sector for the long term.

The fund house is aiming to take its assets under management (AUM) to Rs 1 trillion by FY26 from the current Rs 35,000 crore (Rs 350 billion).

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