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Tuesday, December 02, 2014

Kotak Mutual Fund introduces SIP Booster Facility

With effect 01 December 2014 

Kotak Mutual Fund has approved the introduction of SIP Booster Facility under Systematic Investment Plan (SIP) facility effective 01 December 2014. 

Description: It is a facility whereby an investor has an option to increase the amount of the SIP instalment by a fixed amount at pre-defined intervals. This will enhance the flexibility of the investor to invest higher amounts during the tenure of the SIP. 

Frequency: Half Yearly Basis and Yearly Basis 

Functionality of frequency: The instalment amount can be increased on a Half Yearly and/or Yearly basis i.e. on completion of 6 months/1 year from the commencement of the first SIP. 

SIP frequency-Monthly: 

SIP Booster frequency- Half yearly/ yearly 

Default-yearly 

Minimum amount-Rs 500 & in multiples of Rs 500 thereof 

SIP frequency-Quarterly: 

SIP Booster frequency- Half yearly/ yearly 

Default-yearly 

Minimum amount-Rs 500 & in multiples of Rs 500 thereof 

SIP Booster Facility shall be available with fresh registration of SIP only. If an existing investor wants to opt for SIP Booster facility, the existing SIP is required to be cancelled and a fresh SIP investment with SIP Booster Facility is required to be submitted. 

SIP Booster Facility will be available for all open-ended schemes of Kotak Mutual Fund where SIP facility is being currently offered. 
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