Sundaram Mutual launches SIP in Money Fund1 min read . Updated: 12 Nov 2020, 08:08 AM IST
'Sundaram Money Fund, already equipped with 24*7, 365 days instant redemption, is now a power-packed tool that allows you to set up SIPs for your surplus, ensuring that your hard-earned money is put to better use regularly.'
Sundaram Mutual has launched Systematic Investment Plan (SIP) in its open-ended liquid scheme, Sundaram Money Fund. The fund house had also launched the instant redemption facility in this fund earlier this year. SIP is available in the Growth Option for both - Regular and Direct Plans of the fund, on transactions made through the Sundaram Mutual website, branches and RTA starting November 13. Users can use NACH/OTM to set up weekly, monthly or quarterly SIPs. Weekly SIPs will be processed on Wednesdays, monthly SIPs on any day of the month and Quarterly SIPs on any day of the quarter beginning January, April, July, and October. The minimum SIP amount is ₹1,000 and in multiples of Re 1 thereafter.
“Savings and current accounts are often used to park surplus funds for unplanned expenses, but liquid funds score over them as they can give you potentially higher returns due to ‘disintermediation’ and ‘friendlier capital gains taxation’. Sundaram Money Fund, already equipped with 24*7, 365 days instant redemption, is now a power-packed tool that allows you to set up SIPs for your surplus, ensuring that your hard-earned money is put to better use regularly. The need to manually transfer funds for your short-term goals, emergencies, etc. has now been eliminated as you can automate periodic additions to your investments and stay on track to building your corpus. This is one more step in Sundaram Mutual’s endeavour to add value to its core retail franchise," Sunil Subramaniam, Managing Director, Sundaram Mutual.
Sundaram Money Fund is managed by Dwijendra Srivastava, CIO, fixed income and Siddharth Chaudhary, senior fund manager, fixed income. The performance of the scheme is benchmarked against CRISIL Liquid Fund TRI.