RELIANCE CAPITAL LIMITED 
By
Limited, today announced the launch of Systematic Investment
Plan (SIP) in mutual funds through SMS.
This is the first-of-its-kind initiative by any Asset
Management Company (AMC) in the country that allows customers
to initiate SIP in mutual fund schemes just by sending an SMS
through their registered mobile phones.
This was announced by Mr. Sundeep Sikka, CEO, Reliance
Capital Asset Management, here today.
"SIP using SMS is the latest service offering from RCAM. This
unique feature will make it cost efficient, and convenient
for over 900 million mobile users across the country to
participate and make investments in mutual funds. This
first-of-its-kind feature is also in line with the company's
objective to continuously provide the customers with
innovative products and value-added services," said Mr.
Sundeep Sikka, CEO, Reliance Capital Asset Management.
RCAM has launched its facility under its Invest Easy
initiative, a comprehensive transaction platform that aims to
use technology for making it convenient for investors to
invest in mutual funds.
"We already have over 2.5 lakh customers under the Invest
Easy initiative that allows investors to transact online on
the net, on their mobiles, through call center and now using
SMS. A large number of our customers are already migrating to
the online platform and we see this number growing
exponentially though such facilities," said Mr. Sikka.
To invest in Reliance Mutual Fund schemes through SMS,
investors need to fill in a one-time Invest Easy registration
form with their details. This registration form would also
include a debit bank mandate that will facilitate
transferring of funds from the customer's bank while
purchasing the scheme.
Registered investors can then make a Purchase, start an SIP,
or Redeem their units using their registered mobile
phones.
For starting an SIP, the investor needs to sms SIP
In case no scheme code is mentioned, the default SIP would be
started for Reliance Equity Opportunities fund. The minimum
SIP for most funds can be as low as Rs. 100 per fund.
"We have around 2 million SIPs with over 40 per cent of these
coming from non-metros. A huge challenge for the industry has
been to reach out to small ticket investors and help them
invest in the Mutual Fund sector. This initiative will help
us strengthen our reach and enable an investor to directly
invest in the schemes using their phones", said Mr Sikka.
For purchasing units of a fund, investors need to sms PUR
For redemption, the investors need to sms RED
www.reliancemutual.com
Reliance Capital Asset Management Limited (RCAM) is the
second largest and most profitable AMC in India, in terms of
AUM, managing approximately Rs. 1,40,000 crore (US$ 27.5
billion) across mutual funds, government, government
sponsored public funds, managed accounts and hedge funds.
RCAM is the only AMC in India to have been chosen to manage
both public funds sponsored by the Indian government - the
Provident Fund and Pension Fund.
The company offers a well-rounded portfolio of products that
meet varying requirements and constantly endeavors to launch
innovative products and customer service initiatives to
enhance value for its investors.
RCAM is part of Reliance Capital, one of India's largest
financial services companies with over 20 million customers.
For Media Queries | |||
Shuporna Chakraborty Sharad Goel | Reliance Mutual Fund Reliance Capital | shuporna.chakraborty@relianceada.com sharad.goel@relianceada.com | +91-7498778184 +91-9324984296 |
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