MFIs/RFIs are hereby informed that ICICI Prudential Mutual Fund has been introduced Daily Frequency under SIP Facility of ICICI Prudential open-ended as well SIP Insured schemes with immediate effect on BSE StAR MF Platform.
Also, the Daily SIP Facility is allowed for MFI/RFI members only.
The main features of Daily SIP facility are as follows:
1. 1. Daily SIP will be based on the start date and end date.
2. 2. If the SIP is registered for the period 01/04/2019 to 31/03/2020, if there are 252 trading (working) days, 252 installments shall be triggered by the system.
SIP Registration Process:
Daily SIP can be registered through manual registration as well as bulk upload.
Path : Systematic Investment > SIP > SIP Registration
For registering Daily SIP manually, the member will have to select frequency type as “Daily” and also mention the start date & end date. The system will auto-populate the number of instalments.
Path : Systematic Investment > SIP > SIP Registration Upload
Format for Daily SIP bulk upload has been shared in Notice no. 20171101-25 dated November 1, 2017.
For registering Daily SIP through bulk upload, member will have to mention the following:
· frequency type : Daily
· Start Date
· End date
Kindly note the instalment number column to be kept as blank.
Now the ICICI PRUDENTIAL Mutual Fund has given consent for Daily SIP, the notice cum addendum issued by ICICI Prudential Mutual Fund is attached for reference.
Ketan Jantre Zeeta Eustace
Sr. General Manager – Mutual Funds Assistant General Manager – Mutual Funds