Mirae Asset Mutual Fund has reduced the investment limit for fresh inflows through systematic investment plans (SIPs) in its flagship Mirae Asset Emerging Bluechip Fund from Rs 25,000 per month to Rs 2500 per month from November 6. The fund house will honour all registrations through all or any systematic route before the suspension date.
Mirae Asset Emerging Bluechip Fund had stopped accepting lumpsum investments since October 2016, and restricted inflows at Rs 25,000 per month per investor since then. With the assets under management crossing Rs 11,000-crore the fundhouse wants to further consolidate inflows which it feels is critical to maintain its performance.
“Mirae Asset Emerging Bluechip is a scalable product and a gradual inflow may benefit our investors,” said the fund house in a communication to investors. In order to consolidate inflows in a further graded manner, the fund house has decided to reduce the SIP limits. It will also suspend fresh inflows through Systematic transfer plans.
The fund house will honour all registrations through all or any systematic route before the suspension date.
Mirae Asset Bluechip Fund is one of the best performers in the equity mutual fund space. The large & mid cap scheme has delivered an annualised 17.7% over 10 years.
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