Investment in Mutual Funds: If someone invests in Mutual Fund Schemes at once, then through SIP (Systematic Investment Plan) in which the investor invests every month so that he can get the benefit of market fluctuations. But here has come such a scheme in which you can invest in mutual funds every day too.
Mutual fund distributor platform ZFunds (ZFUNDS) on Tuesday introduced a mutual fund scheme with a daily SIP of Rs 100, especially keeping in mind the rural areas and small towns. When the investor invests Rs 100 every day, he will get an opportunity to buy at every drop or low, which will give better returns.
ZFUNDS said in a statement that this SIP scheme has been introduced in association with ICICI Prudential Mutual Fund, HDFC Mutual Fund and Tata Mutual Fund. Apart from this, the company is in talks with several other mutual fund companies to expand its product reach.
ZFUNDS: The intention of this fund scheme is to meet the needs of people living in Tier-2, Tier-3 and Tier-4 cities. This scheme can be more effective due to higher rate of earning on daily basis among people living in small towns and rural areas. According to ZFunds, a person can also invest Rs 100 under this scheme on a daily basis. With this, it will be possible for daily workers and small businessmen to invest in mutual funds.
Manish Kothari, Co-Founder and CEO, ZFUNDS said, “This is a brand new concept to ensure the reach of mutual fund products to the people of India. This will also create an investment option for the self-employed and those who get paid on a daily basis.