Power SIP (SIP+SWP): New facility from Mahindra Manulife Mutual Fund explained
Mahindra Manulife Investment Management Private Limited has “Power SIP”, a new facility for investors of Mahindra Manulife Mutual Fund schemes. In a statement, the AMC said this facility combines the features and benefits of a Systematic Investment Plan (SIP) and Systematic Withdrawal Plan (SWP), enabling the investors to reap the maximum benefits of the power of compounding (SIP) in the form of a steady flow of income (SWP).
Commenting on the initiative, Anthony Heredia, MD and CEO at Mahindra Manulife said, “We understand that financial independence is a fundamental aspiration for individuals and families. With the Power SIP facility, we have endeavoured to create a comprehensive solution that not only facilitates wealth accumulation but also ensures a smooth transition into the withdrawal phase. Through systematic withdrawal plan (SWP), our customers may enjoy a regular income stream while still benefiting from the potential growth of their investments”
With this facility, investors may now plan their investment journey by registering to a SIP and SWP together in eligible schemes of the Fund for a specified duration.
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The Power SIP facility is available in two options: Option A, where both SIP and SWP are registered in the same scheme, and Option B, where SIP and SWP can be registered in different eligible schemes. The AMC said that option A simplifies the process by allowing investors to choose the same scheme for both SIP and SWP. In this case, once the SIP tenure ends, the entire units accumulated via Power SIP facility become available for SWP. Option B takes the customization up a notch further.
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