Aditya Birla Sun Life MF launches daily SIP option across 30 schemes: How this feature works

The fund house emphasised that the daily SIP transactions would be executed on all business days. However, if a SIP instalment falls on a non-business day for a particular scheme or during a month when the day isn't available, the instalment will be skipped accordingly.

Investors retain the flexibility to discontinue the SIP facility at any time by completing the requisite formalities.

A Systematic Investment Plan (SIP) is a popular investment tool offered by mutual funds that allows investors to contribute fixed amounts at regular intervals into their chosen mutual fund schemes.

Traditionally, SIPs operate on monthly frequencies where investors make contributions on predetermined dates each month.

Daily SIP, a relatively new offering, extends this concept to a daily basis.

Frequency: Unlike traditional SIPs where investments are made monthly, daily SIPs allow investors to contribute funds to their chosen mutual fund schemes daily.

Convenience: Daily SIPs offer investors flexibility and convenience. They can set up automatic contributions to their mutual fund schemes daily, aligning with their cash flow or investment preferences.

Smoothing market volatility: Daily SIPs can help investors navigate market volatility. By spreading their investments across more frequent intervals, investors can mitigate the impact of market fluctuations.

Accumulation of wealth: Investing daily, even in small amounts, can lead to the accumulation of significant wealth over time.