Mirae Asset Emerging Bluechip Fund lowers SIP amount for fresh registrations
Recently, Mirae AMC has reduced the SIP amount for new registrations permissible for Mirae Asset Emerging Bluechip Fund (MAEBF). It is an open-ended Large & Mid Cap Fund that invests in both large-cap and mid-cap stocks.
These changes will be effective from 6 November 2020 after the cutoff time of 3 pm.
All the fresh SIP registrations in the fund would be allowed for an amount of up to Rs.2,500 (aggregated at primary PAN) through monthly mode cumulatively aggregated across all the available 5 SIP Dates i.e. 1st, 10th, 15th, 21st, or 28th of each month.
Prior to the changes, fresh SIP registrations were allowed for an amount of Rs 25,000.
Given below is an illustration for your reference:
Besides, any Investor who has active SIP (aggregated at primary PAN) for an amount of Rs.25,000 would not be able to register further SIP under the Scheme.
However, existing registrations through all or any Systematic Route before the changes shall continue as per terms applicable at the time of registration
Such restrictions are applicable only on the registration aspect under SIP and would not apply to the execution aspect of the transactions processed under the availed frequencies/installments or any earlier registrations.