Mirae Asset Emerging Bluechip Fund increases SIP limit. Here’s a look at its returns since launch
Mirae Asset Emerging Bluechip Fund SIP news: Investors can now register SIP up to Rs 25,000 per PAN per month into Mirae Asset Emerging Bluechip Fund with effect from October 10, 2023.
The fund house had restricted flows into the scheme to Rs 2500 through monthly SIP in November 2020. This decision to restrict SIP flows was based on multiple factors like investment universe, market depth and liquidity, fund size etc.
Explaining the reason behind allowing increased SIP flows, Mirae Asset AMC said, “Since Nov 2022, we have seen equities scaling new highs with Nifty 50 Index, Nifty Midcap 150 Index and Nifty Smallcap 250 Index rising approx. 1.6 times, 2.2 times and 2.4 times respectively as on 30 Sept 2023.”
The AMC said it received “constant feedback from investors and partners for some time to increase the SIP subscription limit to a reasonable level with a view to have a meaningful participation in the scheme.”
“However, in the interest of existing investors, we are still not accepting lumpsum in the scheme. We believe that graded and predictable SIP flows on the current size of the scheme will provide the necessary agility and flexibility to fund manager,” it added.
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The following revised provisions in the SID have been approved. They will be effective from October 10:
Investors should note that all applications made differently in the name of the minor and also in the name of the guardian under the same PAN will be considered as applications submitted under the same PAN, for the purpose of aggregation and the said threshold will be applicable collectively.
“The revised provisions shall be applicable for
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