Notice is hereby given that Reliance Mutual Fund (“RMF”)/ Reliance Nippon Life Asset Management Limited (RNAM) (formerly Reliance Capital Asset Management Limited) has decided to introduce / modify certain features in Systematic Investment Plan (SIP) facility in all the eligible open ended schemes of RMF with effect from July 01, 2017 as follows:
Introduction of Any day SIP:
Investors are requested to note that it is decided to introduce ‘Any Day SIP facility’ in all the eligible open ended schemes of RMF. Accordingly, investor’s registering SIP through One Time Bank Mandate / Invest Easy Mandate or through online mode (i.e. via www.reliancemutual.com) can select any date from 1st to 28th of a month as SIP date. If the SIP transaction date is a non-Business Day for the scheme, then the SIP instalment shall be processed on the next Business Day.
For SIP’s being registered through Standing Instruction or PDC mode, available SIP dates shall continue to remain as 2, 7, 10, 18, 23 and 28.
Any Day SIP facility is available in SIP, SIP Insure, Portfolio SIP (PSIP) and such other facilities where SIP is provided currently or shall be provided in future.
Introduction of SIP Pause facility:
Investors are requested to note that it is decided to introduce ‘SIP Pause facility’ in all the eligible open ended schemes of RMF. Under this facility, investor’s will have an option to discontinue their SIP temporarily for specific number of instalments. SIP would restart upon completion of the Pause period specified by the investor.
For availing this facility following points are to be noted:
- Pause facility shall be available only for SIPs registered under monthly frequency with a SIP instalment amount of Rs.1,000/- and above;
- Investor can opt for pause facility only from 7th instalment onwards;
- Investor can opt for pause facility only twice during the tenure of a particular SIP;
- The minimum gap between the pause request and next SIP instalment date should be atleast 10 days (excluding the request date and the next SIP instalment date);
- Pause facility shall get activated from immediate next eligible instalment from the date of receipt of SIP Pause request;
- SIP can be discontinued for minimum 1 instalment and up to a maximum of 6 instalments;
- Pause facility shall not be available for SIP registered through PDC or Standing Instruction mode;
- If the pause period is coinciding with the Reliance STEP-UP facility, the SIP instalment amount post completion of pause period would be inclusive of Reliance STEP-UP amount.
For e.g. SIP instalment amount prior to Pause period is Rs.5,000/- and Reliance STEP-UP amount is Rs.1,000/-. If the pause period is completed after date of Reliance STEP-UP, then the SIP instalment amount post completion of pause period shall be Rs.6,000/-.
The above features of SIP pause facility shall be applicable for SIP and Portfolio SIP (PSIP). The same shall not be applicable for Reliance SIP Insure.
Introduction of ‘Modify SIP’ facility:
In order to provide flexibility, an investor investing through SIP shall have an option to modify the selected scheme and / or SIP instalment amount and / or SIP end date, in the scheme wherein the SIP investments are currently being made. The said request has to be submitted atleast 10 days prior to the next SIP instalment date (excluding the request date and the next SIP instalment date).
Modify SIP facility shall be available only to investors whose SIP is registered through One Time Bank Mandate / Invest Easy Mandate. Modify SIP request shall be liable for rejection if the modified details do not meet the amount / tenure conditions as per the Scheme Information Document of the respective scheme or the registered mandate.
If the investor submits request for Modify SIP details for a SIP registration where the Reliance STEP-UP facility is already registered, the Reliance STEP-UP facility shall be cancelled immediately upon receipt of Modify SIP details request.
This facility is not available for Micro SIP / SIP Insure and Portfolio SIP option.
Change in features of Reliance STEP-UP facility:
Currently, investor willing to register for Reliance STEP-UP facility has to provide the STEP-UP details along with the SIP enrolment details.
It is decided that with effect from July 01, 2017, investors can register for Reliance STEP-UP facility either during SIP enrolment or any time during the tenure of the SIP if the SIP is registered through One Time Bank Mandate or Invest Easy Mandate.
The minimum gap between the request for Reliance STEP-UP facility and next SIP instalment date should be atleast 10 days (excluding the request date and the next SIP instalment date).
If an investor does not mention STEP-UP start date or the STEP-UP start date is unclear in the application form, the STEP-UP will by default start from the subsequent instalment after meeting the minimum registration requirement of 10 days.
If any STEP-UP is pending for execution as per the option selected by investor earlier and investor submits the STEP-UP application again, same shall be liable for rejection.
Rest of the features of Reliance STEP-UP facility shall remain unchanged.
Reliance STEP-UP facility shall be applicable for SIP and Portfolio SIP (PSIP). The same shall not be applicable for Reliance SIP Insure.
Change in SIP registration TAT:
It is decided that SIP registration TAT shall be 10 days (excluding the application date and the SIP start date) instead of the existing TAT of 21 business days for SIP being registered in the folio through One Time Bank Mandate / Invest Easy Mandate where the mandate status is ‘Registered’.
For SIP being registered through other modes or if the mandate status in the folio is other than ‘Registered’, the SIP registration TAT shall continue to remain 21 business days.
The change in SIP registration TAT shall be applicable for SIP, SIP Insure, Portfolio SIP (PSIP) and such other facilities where SIP is provided currently or shall be provided in future.
The SID and KIM of the eligible open ended schemes of RMF shall be modified to include all the above mentioned features of the SIP facility.
AMC reserves the right at its sole discretion to withdraw / modify the features of the above facilities.
This addendum forms an integral part of the SID & KIM of the Scheme of RMF, read with the Addenda issued from time to time will remain unchanged.
(Mutual Fund investments are subject to market risks, read all scheme related documents carefully.)