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The objective of the scheme is to provide long-term growth in capital and income to investors by actively managing investments in a diversified portfolio of equity and equity-related securities across the entire market capitalization spectrum.
Quite a few fund houses currently offer SIP facility of as low as Rs 100 a month in various schemes though it is not an industry standard as of now.
Industry experts believe that while smaller SIPs could be a great entry point for new investors and could enhance penetration of MFs, but they will be viable only if investors move to bigger SIPs over time
The reasons behind the decline in NFOs could be a combination of the factors as the mutual fund industry's dynamics are influenced by various internal and external factors.
According to the complainant, Ajaykumar Gupta, 51, who runs a Kirana Store in Goregaon (East), he kept his lifetime savings with the accused credit society after being promised a lucrative interest rate