Shriram Mutual Fund targeting non-salaried investors with ‘Any Day SIP’

MUMBAI: Shriram Mutual Fund has introduced Any Day SIP which allows an investor to choose the day of the SIP. Till now, mutual fund investors could choose only specified dates for SIPs, including the 1, 7, 10, 15, 20 and 28 of the month.

However, Shriram Mutual Fund believes that these dates may or may not match with the cash flows of investors. The Any Day SIP facility offered on its Shriram Equity and Debt Opportunities Fund allows investors to specify any day of the month for the SIP. This will especially appeal to non-salaried investors like self-employed professionals and small businessmen who have lumpy cash flows and don't get salary on a specified date. "The ‘Any Day SIP’ facility targets a broader class of investors including small businessmen, entrepreneurs and traders in addition to salaried classes. Since the cash flows may vary from one investor to another, Any Day Sip provides that extra convenience to investors," says D. Ramanathan, head of Sales & Marketing, Shriram Asset Management Company.

The Shriram Equity & Debt Opportunities Fund is primarily an open ended equity oriented asset allocation fund, with a flexibility to move between equity and debt based on the market outlook. The fund has generated 19.19 per cent compounded annualized growth return since inception.