Mutual Fund News : ICICI Prudential Mutual Fund Reduced the Minimum Installment Amount for SIP

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ICICI Prudential Mutual Fund announces the change in minimum instalment amount for Systematic Investment Plan (SIP) under daily frequency of ICICI Prudential Bluechip Fund, ICICI Prudential Multi-Asset Fund and ICICI Prudential Ultra Short Term Fund (the Schemes) with effect from July 15, 2023.

Scheme Name Existing Revised
ICICI Pru Bluechip Fund Rs 100/- and in multiples of Rs 1/- Rs 20/- and in multiples of Rs 1/-
ICICI Pru Multi-Asset Fund Rs 100/- and in multiples of Rs 1/- Rs 20/- and in multiples of Rs 1/-
ICICI Pru Ultra-Short Term Fund Rs 1000/- and in multiples of Rs 1/- Rs 50/- and in multiples of Rs 1/-

(Source: Notice–cum–addendum ICICI Pru AMC)

Generally, monthly SIPs in mutual funds are the norm, however some investors prefer opting for weekly or daily frequency of SIP investments. This change in minimum SIP installment amount by the fund house is for the investors with SIP under daily frequency.

[Read: Should You Kick-start Your SIPs Amid Market Highs? Find Out Now]

Investors should note that, the applicability of the minimum amounts mentioned above are at the time of registration only. The above changes shall be applicable for prospective investments only and for investments made through all modes in daily SIP frequency of the schemes. This minimum investment amount is not applicable for any other SIP frequencies like monthly, quarterly, etc.

All the other provisions of the SIDs/KIMs of the above mentioned schemes of ICICI Prudential Mutual Fund, except as specifically modified herein above remain unchanged. This Notice-cum-Addendum forms an integral part of the SIDs/KIMs of the schemes, as amended from time to time.