Aditya Birla Sun Life Mutual Fund introduces daily SIP facility in 30 schemes

Aditya Birla Sun Life Mutual Fund has introduced daily frequency under SIP facility in 30 mutual fund schemes. The fund house informed about this to its unitholders through a notice-cum-addendum. This facility will be effective from March 19.

Investors can avail daily SIP through online mode i.e. through website and mobile application of the fund house and other digital platforms as may be decided from time to time.

The fund house further stated that daily SIP shall be processed on all business days. The SIP instalment will be skipped if it falls on a non-business day for the scheme(s) or on a day which is not available in a particular month.

Investors will have the right to discontinue the SIP facility at any time by submitting a request for cancellation. On receipt of such a request from the investor, the SIP facility will be cancelled within 10 calendar days.

The SIP registration will be discontinued in cases where three consecutive instalments are not honored.

The unitholders were further informed that the sampoorna SIP facility, step-up SIP, SIP pause and reinstatement of SIP pause facility would not be available for daily SIP.