Baroda BNP Paribas Mutual Fund has launched a wealth-building and regular income solution called ‘Lakshya SIP’.
Lakshya SIP is a combination of Systematic Investment Plan (SIP) and Systematic Withdrawal Plan (SWP), designed to help investors achieve their financial goals and help them get regular monthly income.
Lakshya SIP allows investors to save systematically for varying periods — 8, 10, 12, or 15 years — through a monthly SIP in one of the equity-oriented schemes offered by Baroda BNP Paribas Mutual Fund. These schemes are carefully selected to provide the potential for long-term wealth creation.
Also Read Global cues for markets at this hour – Here are top 4 factors to watch ahead of market opening TSPSC Group 3 Hall Ticket 2024 released, here’s how to check at tspsc.gov.in Wealth tech platform Nivesh acquires Wealthzi, aims for Rs 10,000 cr AUM in 3 years High FD interest rate regime over? THIS large bank cuts rate by 25 bps – Check new rates
At the end of the chosen SIP period, the accumulated investment is switched into one of the five hybrid schemes of Baroda BNP Paribas Mutual Fund as per investors choice after which a pre-set systematic withdrawal plan starts, providing a regular monthly income.
Also read: Mutual Fund: THIS multi-asset fund turns Rs 10 lakh into over Rs 7 crore in 22 years; Rs 10000 SIP into Rs 2.9 crore
“Driven by strong demography and supportive policy environment, India is expected to remain fastest growing major economy in the world. Indian equities offer a structural wealth creation opportunity. Our savers have traditionally been under-allocated to equities, but we have seen a welcome change in recent times. Mutual funds are gaining traction as more investors recognize the importance of equity markets for wealth creation. Lakshya SIP helps investors save systematically and enjoy the power of long-term compounding. We believe long-term investments like this will help both investor and our markets become Atmanirbhar,” said Suresh Soni, CEO, Baroda BNP Paribas AMC.
The introduction of Lakshya SIP comes at a time when India’s Rs 67.25 lakh crore mutual fund industry saw inflows via SIP’s jump 49% year on year in October 2024 to Rs 25,323 crore.
To further enhance compounding potential,
» Read More
