Page 19 - BANKING FINANCE APRIL 2024
P. 19

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


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