LIC Mutual Fund’s new SIP plan offers option to invest with Rs 300 a day

State-owned insurance group LIC (Life Insurance Corporation) has launched a daily SIP scheme that can be started with an investment of amount as low as Rs 300 per day. The scheme has been launched to expand LIC’s Systematic Investment Plan portfolio to 30 per cent. Mutual Fund SIP (Systematic Investment Plan) is a safer way to invest in equity without even worrying about market conditions. In SIP, you can invest a pre-determined amount in mutual funds for a specific time and get a return. LIC Mutual Fund chief marketing officer Rajesh Patwardhan said the current financial year has seen a surge of 56 per cent in mutual funds through SIP investments. “Mutual Fund SIP is gaining recognition among the investors as it encourages investing in a disciplined manner without worrying about market volatility and timing the market,” Patwardhan said. “We believe that while SIP is a better route to invest in equity, daily SIP will further help in beating the market volatility and benefit our investors from rupee cost averaging,” he added.