Mirae Asset Lowers SIP to Rs 99

A significant step towards making investing more accessible

Mirae Asset Mutual Fund has taken a major step to democratize investing by reducing the minimum monthly and quarterly Systematic Investment Plan (SIP) amount to as low as Rs 99. This change, effective from October 1, 2024, applies to most schemes managed by the fund house, except for Mirae Asset ELSS Tax Saver Fund.

Key Highlights:

Reduced Entry Barrier: The new minimum SIP amount is a significant reduction from the previous requirement of Rs 500. This lower threshold makes investing in mutual funds more accessible to a wider range of investors, especially those with limited disposable income.
Flexibility in Investment: Investors can now start their investment journey with a small, manageable amount, making it easier to incorporate regular savings into their financial plans.
Multiple Investment Options: The reduced minimum SIP amount is applicable to both monthly and quarterly frequencies, offering investors flexibility in choosing the investment schedule that best suits their financial situation.

Impact on the Mutual Fund Industry:

This move by Mirae Asset Mutual Fund aligns with the broader trend in the Indian mutual fund industry to make investing more inclusive. The Securities and Exchange Board of India (SEBI) has also been advocating for lower minimum SIP ticket sizes, and the industry has been responding positively.

SEBI Chairperson Madhabi Puri Buch recently stated that the mutual fund industry would soon be able to reduce the minimum SIP ticket size to Rs 250. This indicates a growing recognition of the importance of making investments accessible to a larger segment of the population.

About Mirae Asset Mutual Fund:

Mirae Asset Mutual Fund is a leading player in the Indian mutual fund industry, offering a diverse range of investment products across equity, debt, hybrid, and other categories. With a focus on delivering long-term value to investors, the fund house has a proven track record of managing funds effectively.

Conclusion:

Mirae Asset Mutual Fund’s decision to reduce the minimum SIP amount to Rs 99 is a significant step towards making investing more accessible and affordable for a wider range of individuals. This move is likely to encourage more people to start investing early and build wealth over the long term. As the mutual fund industry continues to evolve, we can expect to see further initiatives aimed at making investing more inclusive and accessible.