Mutual Fund News : SIP Limit Raised! Now Invest upto Rs 25,000 in Mirae Asset Emerging Bluechip Fund

Publish Date:

Mirae Asset Mutual Fund has recently decided to raise maximum investment limit through SIP in its Emerging Bluechip fund to Rs 25,000/- per PAN per month. This modification has been officially communicated by the Asset Management Company (AMC) through Notice cum Addendum No. 49/2023, issued on October 3, 2023.

Mirae Asset Emerging Bluechip Fund (MEBF), one of the leading large-and-mid cap equity fund in the Indian mutual funds industry, is set to accept increased investments.

At the moment, MEBF has been accepting new registrations only through monthly SIP to the extent of Rs 2,500 per month per PAN. However, the scheme does not accept lump sum investments from investors and currently holds an AUM of Rs 28,439.28 crore as of October 05, 2023. The scheme is managed by Mr Ankit Jain and Mr Nilesh Surana.

[Read: How the SIP Calculator Helps You Assess Your Mutual Fund SIP Returns]

According to the new modifications made by the fund house, both existing and new investors have the option to initiate New SIPs which can be registered up to the prescribed limit of Rs 25,000/- per PAN per month. This will be effective from October 10, 2023. Do note that the existing investments and SIPs in the scheme will not be affected by this announcement.

Many investors and distributors have been requesting for an increase in the SIP limit for the scheme. However, the fund house chose to reconsider its decision when the market structure altered over time.

[Read: 7 Top Performing Mutual Funds Based on 10-Year SIP Returns]

The increase in the SIP limit is the result of a number of factors such as growth in market cap and liquidity, midcaps being beneficiaries of consolidation due to various regulatory changes and improved economic growth prospects.

Mr Swarup Mohanty, Director & CEO, Mirae Asset Investment Managers (India), said, “With a strengthening macro environment, we have also witnessed significant growth in capital markets. Particularly, the midcap space has witnessed significant changes over the past few years. Our decision to modify the SIP subscription limit in the scheme has also been based on multiple factors like growth in market cap and liquidity, increase in aggregate profit pool, a more diverse universe with the listing of a new set of businesses, and consolidation in midcap space.”