Mirae asset emerging bluechip fund SIP

Zerodha Coin - Direct MF
1

Even though SIP in Mirae asset emerging bluechip fund is capped to Rs 2500 per month per PAN, I have noticed that one can do multiple AMC SIP of Rs 2500 in coin app to take higher SIP. How can the AMC allow this. Are our PAN not updated with AMC or is there any flaw in this

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2

Currently, you will be able to create multiple SIPs but the order shall be rejected. For example, on the 5th of every month, I create 2 AMC SIPs with 2500 both the orders for 2500 shall be rejected.

This will be changed shortly where you will not be able to create a SIP for more than the set limit.

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3

What if I do AMC SIP on different dates in coin. Some of my friends have tried to do so in coin and all SIPs are accepted and are active. I wonder how could the AMC allow this.Only issue is that there are 4 different dates or 1st,5th, 10th and 15th so maximum one can do 10 k SIP.

4

AMCs ideally should be rejecting these orders which they arenā€™t doing, this is an issue from their end.

Could you create a ticket with the details so we can check this?

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5

Iā€™m trying to create an AMC SIP for this fund on different dates say 7th, 14th etc. but when the registration mail comes the date is fixed on 1st feb? How can I change it so that -

  1. I can invest on different dates
  2. I can start investing in this month itself.

@Shruthi looking for your help pls.

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6

Hey Gaurav, you can create an AMC SIP for any date.

Just make sure that the AMC SIP has to be created 2 days prior to the ā€œPreferred Dateā€ if the ā€œpreferred dateā€ is 2 days after the SIP creation only then the AMC SIP order will be processed else the same will move to the next month.

Could you please DM and share a screenshot of the registration mail received so we can take a look at it?