IDFC MF comes up with daily sip option

IDFC MF comes up with daily sip option

IDFC ASSET Management Co. Pvt. Ltd has introduced a daily systematic investment plan (SIP) option, in addition to the monthly option it already has.

In other words, instead of putting your money systematically into equity funds once every month, you can now invest in the fund’s equity schemes every day.

“If you invest at least Rs300 every day for, say, two or three quarters, and then stay invested for, say, five years, you will get good returns in the long run," says Vikaas M. Sachdeva, country head (business development), Bharti AXA Investment Managers Pvt. Ltd.

But financial planners don’t seem to be excited about this daily SIP. Veer Sardesai, Pune-based financial planner, says: “It is a nuisance, operationally. When you sell your investments and look into your SIP statements to ascertain your capital gains, you will notice daily entries since you had invested every day. Statements run into pages and it complicates for no real reason."