New Delhi: Amid the volatility in stock market, Anil Dhirubhai Ambani Group’s Reliance Mutual Fund (RMF) has introduces Rs 100 per month Systematic Investment Plans.
Seeking to tap a larger number of small investors, the mutual fund industry is going all out with low investment plans and RMF has become the first fund house to launch such a scheme.
Wary of the volatile stock markets, small investors prefer to invest in mutual funds through their Systematic Investment Plans.
This serves the dual purpose of regular savings and healthy returns in addition to offering small investors a crucial hedge against the volatile markets.
With the minimum investment in SIP at Rs 500 so far, Reliance MF, an Anil Dhirubhai Ambani Group company, has become the first AMC in the country to offer investment in Systematic Investment Plans (SIP) at Rs 100 per month, a company statement said.
"This move is aimed at helping more and more people access the benefits of mutual funds while reducing the entry barrier significantly," as quoted by PTI, Reliance MF President and CEO Vikrant Gugnani said.
With the entry level of SIP at Rs 100 per month, investors would be in a better position to use 'rupee cost averaging' as investments spread regularly over a period of time would result in the average cost per unit coming down.
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