SIP limits for the Mirae Asset Emerging Bluechip Fund have been raised by Mirae Asset Mutual Fund

 SIP limits for the Mirae Asset Emerging Bluechip Fund have been raised by Mirae Asset Mutual Fund

Starting on October 10, 2023, the enhanced limit of Rs 25,000 per month per PAN will be in force.

During the three years that concluded on October 3, 2023, MEBF generated returns of 24.41 percent, compared to the big & mid-cap fund category's returns of 24.76 percent.

The Mirae Asset Emerging Bluechip Fund (MEBF), the largest large-and-mid cap equity fund in the Indian mutual fund sector, is prepared to accept further investments.

The investment limit would increase from the current ceiling of Rs 2,500 to Rs 25,000 thanks to a decision made by Mirae Asset Mutual Fund. For the monthly SIP (systematic investment plan) in the scheme, this cap is applied per PAN.

MEBF has only accepted funds through monthly SIP up to Rs 2,500 per PAN every month. Lump sum investments are not permitted in the scheme. This news has no impact on SIPs that have already been registered or existing investments in the plan. Moving forward, new SIPs may be registered up to the imposed cap of Rs 25,000 per month. Effective October 10 is this.

According to Value Research, the scheme is in charge of managing assets of Rs 28,439 crore as of August 31, 2023. Nilesh Surana and Ankit Jain are in charge of running the plan.

The scheme's SIP limit has been increased in response to numerous requests from distributors and investors. The fund house preferred to continue with the scheme's graded inflows, nonetheless. However, the fund company chose to reconsider its initial choice as the market structure altered over time. The decision to raise the SIP limit has been made by the fund house due to a number of factors, including an increase in market cap and liquidity, an increase in the aggregate profit pool of mid cap stocks, the availability of a more diverse universe with the listing of new sets of companies, and midcaps being benefited by consolidation as a result of various regulatory changes.

In a communication to unitholders, the fund management company stated, "In addition to the above factors and with an objective to provide meaningful participation towards investors in the scheme without hurting the interests of existing unitholders, we opted to increase the subscription limit through SIP."

During the three years that concluded on October 3, 2023, MEBF generated returns of 24.41 percent, compared to the big & mid-cap fund category's returns of 24.76 percent. With returns of 18.87 percent over the course of five years, the scheme had the best performance. A minimum of 35 percent of the funds allocated to large and mid-cap companies are placed in large & mid-cap funds. According to monthly data given by the Association of Mutual Funds in India, as of August 31, large and mid-cap funds handled assets totaling Rs. 1.59 lakh crore.