ICICI Pru AMC Offers SIP For Just Rs 50

Mumbai: ICICI Prudential Asset Management Company providing Rs 50 per month as the minimum investment amount in its Systematic Investment Plan (SIP). That will give it the lowest in the industry with Reliance Mutual Fund last week decreasing the minimum investment in SIP to Rs 100 per month. ICICI Prudential AMC and Reliance AMC have been pushing each other in the race for maximum assets under management. While ICICI Prudential AMC had maximum assets in February, Reliance AMC was on top in March. The minimum redemption amount where SIP is available will be Rs 500 and an entry load of 2.25 per cent of the applicable Net Asset Value will be charged. Also, fund managers said small investments in equity markets would expose the investors to higher risks.