LIC Mutual Fund Asset Management introduces of Choti SIP Facility
LIC Mutual Fund Asset Management has announced addendum to the Scheme Information Document (SID), Key Information Memorandum (KIM) of Select schemes and Statement of Additional Information (SAI) of LIC Mutual Fund.
In accordance with SEBI Letter No. SEBI/HO/IMD/PoD-1/OW/P/2025/5586/1 dated 20th February 2025, LIC Mutual Fund has informed that it has decided to introduce Choti SIP facility for investments under the Growth Option, in LIC MF BSE Sensex Index Fund, LIC MF Nifty 50 Index Fund, LIC MF Nifty Next 50 Index Fund, LIC MF Balanced Advantage Fund & LIC MF Large Cap Fund (the Schemes) with effect from August 14, 2025.
The features of the facility are as follows: -
1. The ticket size of the SIP registered under above mentioned Schemes under Choti SIP facility will be exactly equal to Rs 250 SIP with minimum commitment of 60 instalments.
2. The facility will be available only to first-time individual investors to the industry excluding minors and will be restricted to three SIPs (one each in upto 3 Asset Management Companies).
3. SIP frequency should be Monthly.
4. Investors who initiate any SIP other than Choti SIP or make lumpsum investment shall not be considered as a Choti SIP investor for any subsequent investments at industry level. However, SIPs that were Choti SIP at the time of investment shall continue as Choti SI?.
5. Early withdrawals of the instalments shall not be restricted and exit load shall be applicable as per the provisions of the SID of the above-mentioned Schemes.
6. Payment mode can only be through Unified Payment Interface (UPI) or National Automated Clearing House (NACH) only.
7. All statutory disclosures to unitholders of Choti SIPs shall be through SMS/WhatsApp on valid and registered mobile number and email id (if provided by the investor). The link shall remain active for at least three months for an investor to download the disclosures made thereunder.
The AMC reserves the right to modify list of above-mentioned Schemes from time to time. All other terms and conditions of the facility and the aforesaid Schemes will remain unchanged. It may be noted that the features of the facility are subject to guidelines and terms and conditions as notified by SEBI/ AMFI from time to time.
This Notice cum Addendum shall form an integral part of the SID, KIM and SAI of LIC Mutual Fund as amended from time to time. All other terms and conditions of the SID, KIM and SAI of LIC Mutual Fund will remain unchanged.
