Sundaram Mutual Fund Introduces Prosperity SIP in Select Schemes to Enhance Investment Flexibility
Sundaram Mutual Fund has launched its brand-new Prosperity SIP facility, exclusively for investments under the growth option of select schemes. This facility is targeted to be effective from September 6 and shall facilitate a unique combination of Systematic Investment Plan and Systematic Withdrawal Plan, inclusive, catering to investors’ needs and preferences for planning a financial future with far more flexibility.
Prosperity SIP will enable the investor to register for a SIP cum SWP for the chosen period. On completion of SIP tenure, the gathered units either would be switched to a chosen target scheme or would be retained in the same scheme as selected by the investor. The SWP would become effective automatically upon the processing of the switch.
Overview of Sundaram Mutual Fund
This mutual fund has a range of investment deals related to various sectors and philosophies. Some of the schemes in this category are Sundaram Mid Cap Fund, Sundaram Services Fund, Sundaram Large Cap Fund, Sundaram Flexi Cap Fund, Sundaram Large and Mid Cap Fund, Sundaram Focused Fund, Sundaram Multi Cap Fund, Sundaram Small Cap Fund, and Sundaram Dividend Yield Fund. These, apart from Sundaram Business Cycle Fund, Sundaram Financial Services Opportunities Fund, Sundaram Infrastructure Advantage Fund, Sundaram Consumption Fund, Sundaram Balanced Advantage Fund, Sundaram Multi Asset Allocation Fund, Sundaram Aggressive Hybrid Fund and Sundaram Equity Savings Fund. In that sense, the funds open different avenues for investors to attain their financial goals by diversifying into varied market segments and sectors.
Investors can choose a tenure from 7 to 30 years. By default, the tenure for SIP is set at 20 years in case no period is chosen. The minimum SIP installment amount shall be Rs.2,000 and additional subscriptions shall be permitted in multiples of Re.1. This can be registered under a new or existing folio but cannot be created by conversion from the existing Standalone SIP Registration.
In addition, the fund house has also made a provision for the SIP Top-up facility on BSE and NSE platforms for increment in SIP contribution amount over a period of time. The said facility shall be available under non-demat mode and shall be applicable for Prosperity SIP and regular SIPs.
At the end of the SIP period, the accumulated units will become available for SWP after a 15-day waiting period. In case of selecting another target scheme, the units will move into that specific target scheme or they will stay with the original scheme and the SWP shall start.
Sundaram Mutual Fund reiterated that the respective Prosperity SIP shall be available across physical, digital and exchange platforms to make the investment experience seamless and flexible for the investors. The fund house also reserves the right to revise the above list of schemes from time to time.
