Axis Mutual Fund has introduced the Micro Systematic Investment Plan (Micro SIP) facility under Axis Triple Advantage Fund, with effect from April 1, 2011.
The key features of Micro SIP facility are as under:
1. Minimum amount per SIP installment is Rs 100 and in multiples of Rs 1 thereafter.
2. The minimum redemption amount will be Rs 300.
3. Where the mutual fund fails to get the proceeds from six installments out of a continuous series of installments submitted at the time of initiating a SIP (subject to a minimum under SIP i.e. 36 months), the SIP may be discontinued by the AMC.
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