Bharti AXA launches DSTP
Bharti AXA Mutual fund launched daily systematic transfer plan (DSTP), first of its kind in India. This launch came in realtion to its earlier launch of daily systematic investment plan last November.
By ET Bureau |
MUMBAI: In an attempt to increase its number of investors in the troubled time, Bharti AXA Mutual fund on Monday launched daily systematic transfer plan (DSTP), first of its kind in India. This launch came in realtion to its earlier launch of daily systematic investment plan last November.
Under this plan, now available with Bharti AXA Equity fund, an investor can invest a minimum of Rs. 10,000 and in multiples of Re. 1 thereafter in Bharti AXA liquid fund/ Bharti AXA Treasury Advantage fund.
From that bulk money parked in liquid fund, an allocated amount, (as per the wish of investor) will be transferred to Bharti AXA Equity Fund.
However, lumpsum investment in liquid or treasury fund will be compulsorily through growth option.
For DSTP, Bharti AXA has tied up with a number of banks through which amount will be auto-debited from investors��� account on daily basis. Those banks are HDFC, Kotak Mahindra, BoB, Axis Bank, ICICI, IDBI, SBI, Standard Chartered etc. An investor can invest in the plan only in three denominations ��� Rs.300 or Rs. 400 or Rs.500.
���Through this scheme, we aim to tap 3,000 investors by the month of May. We are looking at high ticket size investment under this plan.
Going forward, we will make this plan available with our ELSS scheme,��� said Vikaas Sachdeva, country head ��� business development, Bharti AXA Investment Managers.
Added Sachdeva, ���We will promote this plan using all our 57 branches across the country; we are tying up with national distributors, banks and independent individual advisors for aggressive promotion of this plan.���
There is no entry load if an investor opts for this plan. But it carries an exit load of 3.5 % if redeemed within 1 year; 2.5% if redeemed after 1 year but within 3 years.
Under this plan, now available with Bharti AXA Equity fund, an investor can invest a minimum of Rs. 10,000 and in multiples of Re. 1 thereafter in Bharti AXA liquid fund/ Bharti AXA Treasury Advantage fund.
From that bulk money parked in liquid fund, an allocated amount, (as per the wish of investor) will be transferred to Bharti AXA Equity Fund.
However, lumpsum investment in liquid or treasury fund will be compulsorily through growth option.
For DSTP, Bharti AXA has tied up with a number of banks through which amount will be auto-debited from investors��� account on daily basis. Those banks are HDFC, Kotak Mahindra, BoB, Axis Bank, ICICI, IDBI, SBI, Standard Chartered etc. An investor can invest in the plan only in three denominations ��� Rs.300 or Rs. 400 or Rs.500.
���Through this scheme, we aim to tap 3,000 investors by the month of May. We are looking at high ticket size investment under this plan.
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Going forward, we will make this plan available with our ELSS scheme,��� said Vikaas Sachdeva, country head ��� business development, Bharti AXA Investment Managers.
Added Sachdeva, ���We will promote this plan using all our 57 branches across the country; we are tying up with national distributors, banks and independent individual advisors for aggressive promotion of this plan.���
There is no entry load if an investor opts for this plan. But it carries an exit load of 3.5 % if redeemed within 1 year; 2.5% if redeemed after 1 year but within 3 years.
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