Mirae Asset Mutual Fund reduces monthly SIP amount to as low as Rs 99

Mirae Asset Mutual Fund has reduced the monthly and quarterly SIP amount to as low as Rs 99 and in multiples of Re 1 thereafter for all schemes managed by the fund house except for Mirae Asset ELSS Tax Saver Fund.

The above mentioned changes will be effective from October 1. The fund house informed about these changes to its unitholders through a notice-cum-addendum dated September 24.

The applicability of the minimum amount mentioned above shall be at the time of fresh SIP registration. The above changes shall be applicable for prospective investments only.


Earlier the minimum SIP amount was Rs 500 (multiples of Re 1 thereafter), with minimum five in case of monthly / quarterly option. (Source: Mirae Asset Mutual Fund monthly factsheet).

The minimum SIP amount for Mirae Asset ELSS Tax Saver Fund will continue to be Rs 500 and in multiples of Rs 500 thereafter for monthly and quarterly.

This notice cum addendum forms an integral part of SAI of the schemes of MAMF, as amended from time to time. All other terms and conditions of SAI will remain unchanged.

Earlier in this month, Sebi chairperson Madhabi Puri Buch said that the mutual fund industry would soon be able to cut down the minimum SIP ticket size to Rs 250. She also mentioned that over the next three years, more investors would be able to invest in mutual funds with low ticket size.

Some mutual funds are already offering SIPs with a ticket size as low as Rs 100 while some offer SIPs at Rs 500.

The fund house at present manages around 67 mutual fund schemes including Mirae Asset ELSS Tax Saver Fund. Among these 67 schemes, 28 are equity, 5 hybrid, 18 debt schemes, 2 commodity funds, and 14 other schemes (including index fund and ETFs).