Page 19 - BANKING FINANCE APRIL 2024

MUTUAL FUND

Fund. The fund house informed about Investors will have the right to discon-
this to the investors through a notice- tinue the SIP facility at any time by Attention Subscribers
cum-addendum. The changes will be submitting a request for cancellation. Please renew your Subscription of The
effective from March 22. On receipt of such a request from the Insurance Times Journal to receive

The fund house mentioned that with investor, the SIP facility will be can- copy of the journal uninterruptedly.
effect from October 1, 2012, exit load celled within 10 calendar days. You can now pay by GPAY, Phonepe,
if charged to the scheme shall be cred- The SIP registration will be discontin- Paytm, Amazon, ICICI Pay, BHIM UPI
ited to the scheme immediately net of ued in cases where three consecutive
goods and service tax, if any. instalments are not honored.
The revision in exit load shall be appli- The unitholders were further informed
cable on a prospective basis to; (a) all that the sampoorna SIP facility, step-
the subscription transactions (includ- up SIP, SIP pause and reinstatement of
ing switch-in) processed with NAV of SIP pause facility would not be avail-
March 22, 2024, and thereafter, irre- able for daily SIP.
spective of receipt of application. (b) all
the systematic transactions such as
Systematic Investment Plan (SIP) and Mutual fund stress test
Systematic Transfer Plan (STP) etc. spooking market, no scien-
where registrations/enrolments have tific basis: Former Sebi of-
been done on or after the effective
date. ficial
Sebi-enforced stress tests of various
Aditya Birla Sun Life Mu- smallcap and mutual fund schemes are
unnecessarily spooking the market as
tual Fund introduces daily
there is no scientific basis for the cal-
SIP facility in 30 schemes culations being done by fund houses,
Aditya Birla Sun Life Mutual Fund has Sebi's former executive director and
introduced daily frequency under SIP top lawyer Sandeep Parekh said.
facility in 30 mutual fund schemes. The "It assumes liquidity to be a constant Sashi Publications Easy Payment
fund house informed about this to its at best and extrapolates the past into Modes :-
unitholders through a notice-cum-ad- the future at worst. If liquidity actually i) UPI ID: SASHIBOOKS@KOTAK
dendum. This facility will be effective vanishes in a particular stock, it can just ii) GPAY: 9830171022@okbizaxis
from March 19. vanish not in 6 days or 14 days or what- iii) PAYTM: 9830171022@paytm

Investors can avail daily SIP through ever other metric is used - it will van- iv) NEFT: Current A/C
online mode i.e. through website and ish in a microsecond. Analysis by ex- 402120110000327 of 'SASHI
mobile application of the fund house trapolation may or may not work. Yes, PUBLICATIONS PRIVATE
and other digital platforms as may be liquidity is often higher with higher LIMITED, Bank of India, VVK
decided from time to time. volatility - but it's not a given," Parekh Road Branch., Kolkata, India,
said on X. IFSC Code : BKID0004021
The fund house further stated that
daily SIP shall be processed on all busi- He asserted that it is not the job of the v) Credit Card:
ness days. The SIP instalment will be regulator to predict either market lev- www.sashipublications.com
skipped if it falls on a non-business day els (no matter how well-meaning, even For any query please call
for the scheme(s) or on a day which is accurate) or liquidity (which can't be 9073791022/9883398055
not available in a particular month. predicted). www.sashipublications.com

BANKING FINANCE | APRIL | 2024 | 17