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.