Mirae Asset Mutual Fund has announced changes to its systematic investment plan (SIP) structure across schemes, excluding Mirae Asset ELSS Tax Saver Fund. Now, investors can start Mirae’s mutual fund SIP with as low as Rs 99 per month, from October 1.
It is applicable on both monthly and quarterly SIP frequencies.
The lower SIP amount will make the mutual funds for accessible for small investors.
SIP contributions hit all-time high of Rs 23,547 crore in August 2024, crossing July’s Rs 23,331 crore. Overall equity mutual funds continued their steady growth in August attracting Rs 38,239 crore fuelled by strong contributions from thematic funds, which was primarily owing to New Fund Offerings (NFOs).
The latest flow also marks the 42nd consecutive month of net inflows in equity funds.
Mirae Mutual Fund Schemes and Their Past Returns
Mirae Asset Large & Midcap Fund Direct Growth: 18.03 per cent in 3 years, 41.26 per cent in the past one year.
Mirae Asset Midcap Fund Direct Growth: 23.69 per cent in 3 years, 44.58 per cent in the past one year.
Mirae Asset Large Cap Fund Direct Growth: 14.58 per cent in 3 years, 35.22 per cent in the past one year.
Mirae Asset Multicap Fund Direct Growth: 42.79 per cent in the past one year.
Mirae Asset Flexi Cap Fund Direct Growth: 38.54 per cent in the past one year.
Mirae Asset ELSS Tax Saver Fund Direct: 18.27 per cent in 3 years, 42.18 per cent in the past one year.
What is SIP?
SIP is a form of investing in mutual funds in which an investor selects a mutual fund scheme and invests a specified amount at predetermined intervals, says monthly or quarterly. Equity funds are one of the types of mutual fund schemes. An equity fund is a mutual fund scheme that primarily invests in company shares/stocks. They are also referred to as Growth Funds.
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