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Axis MF introduces Micro SIP facility under Axis Treasury Advantage Fund


Axis Mutual has introduced Micro Systematic Investment Plan (Micro SIP) facility under Axis Treasury Advantage Fund, with effect from January 31, 2011. Under Micro SIP, aggregate of installment in a financial year does not exceed Rs 50,000.

Under this plan, minimum amount per SIP installment is Rs 100 and in multiples of Re 1 thereafter. The minimum redemption amount will be Rs 300. In case, the mutual fund fails to get the proceeds from six installments out of a continuous series of installments submitted at the time of initiating an SIP (subject to a minimum of 36), the SIP may be discontinued by the AMC.