Sundaram Mutual announced the introduction of Any Day SIP feature in all open-ended schemes of the fund house, except in liquid schemes. The feature will be effective July 29, said a press release by the fund house.
According to the press release, Any Day SIP facility will available for transactions made through the Sundaram Mutual website starting Wednesday. Investors can also choose to modify their existing SIP date on the platform.
Monthly SIPs can be scheduled for any day of the month. Quarterly SIPs can also be scheduled for any day of the quarter beginning January, April, July, and October.
“SIP investments, were hitherto restricted to certain specific dates in a month. We are now enhancing the flexibility and convenience available to investors as they can now choose SIP dates that suit their individual needs. This is one more step in our endeavour to strengthen and grow our core retail franchise,” said Sunil Subramaniam, Managing Director, Sundaram Mutual.