(UNI) FundsIndia, the country’s largest retail investment platform,today announced launching of FundsIndia SmartSIP, in association with Franklin Templeton AMC, for its customers.
This first-of-its-kind service combines the discipline of SIP along with dynamically managing the monthly SIP allocation to each fund based on market conditions, according to company sources.
SmartSIP invests in an equity fund and a debt fund, from the Franklin India stable, every month. By default, the equity fund’s allocation would be 70 per cent and the debt fund would receive 30 per cent. However, allocation to the equity fund and the debt fund will dynamically change every month based on both market fundamentals and momentum factors.
FundsIndia’s co-founder and COO Srikanth Meenakshi said, ‘We have been listening to what our investors are seeking for a decade now. This product grew out of understanding these requirements. With SmartSIP, an investor can make smart allocations between equity and debt every month based on the signals we receive from a well-proven quantitative model.
‘This adjustment does not disturb the investor’s monthly savings. There’s no need to increase SIP amount or reduce it in order to benefit from dynamic allocation. This ensures that savings are disciplined and there is no compromise on reaching the desired goal,’ he said.
