ICICI Prudential targets small investors via Micro SIP

MUMBAI: In a bid to offset depleting assets under management in their debt schemes, fund houses are adopting innovative marketing strategies.

ICICI Prudential Mutual has just introduced a scheme targeting very small investors in its debt schemes via Micro SIP facility for its ICICI Pru Liquid Plan - Growth Option plan.

As part of this offer, investors can make SIPs in this debt scheme via a minimum instalment of Rs 100 and in multiples of Rs 10 thereafter.

These debt fund schemes typically provide investors 9-10 per cent return on a tax free basis per annum, point out financial planners.

Public sector banks are also offering 10 per cent on a 1-year fixed deposit, but that is subject to income tax.

The corpus of income funds at end-October was Rs 1.92 lakh crore, down from Rs 2.46 lakh crore as at September end.