The fund house which clocks an SIP inflow of around Rs 23 crore every month expects the number to go up to Rs 30 crore (30 per cent growth) following the rise in daily inflow.
"Through daily SIP, the fund house is trying to promote the habit of investing daily and the aim is to create wealth through investing daily with a minimum sum of Rs 300 across 22 working days, which will lead to a monthly investment of Rs 6,600," LIC MF said in a statement.
LIC Mutual Fund chief marketing officer Rajesh Patwardhan noted that the the current financial year has seen a surge of 56 per cent in mutual funds through SIP investments. "Mutual Fund SIP is gaining recognition among the investors as it encourages investing in a disciplined manner without worrying about market volatility and timing the market," Patwardhan said.
"We believe that while SIP is a better route to invest in equity, daily SIP will further help in beating the market volatility and benefit our investors from rupee cost averaging," he added.
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)