Baroda BNP Paribas Mutual Fund Unveils Lakshya SIP for Strategic Wealth and Income Growth
New Delhi, 15th November 2024: Baroda BNP Paribas Mutual Fund has introduced a wealth-building and regular income solution called Lakshya SIP—a combination of Systematic Investment Plan (SIP), and Systematic Withdrawal Plan (SWP), designed to help investors achieve their financial goals and help them get regular monthly income.
Lakshya SIP allows investors to save systematically for varying periods—8, 10, 12, or 15 years—through a monthly SIP in one of the equity-oriented schemes offered by Baroda BNP Paribas Mutual Fund. These schemes are carefully selected to provide the potential for long-term wealth creation. At the end of the chosen SIP period, the accumulated investment is switched into one of the five hybrid schemes of Baroda BNP Paribas Mutual Fund as per Investors Choice after which a pre-set Systematic Withdrawal Plan starts, providing a regular monthly income.
” Driven by strong demography and supportive policy environment, India is expected to remain fastest growing major economy in the world. Indian equities offer a structural wealth creation opportunity. Our savers have traditionally been under-allocated to equities, but we have seen a welcome change in recent times. Mutual funds are gaining traction as more investors recognize the importance of equity markets for wealth creation. Lakshya SIP helps investors save systematically and enjoy the power of long-term compounding. We believe long-term investments like this will help both investor and our markets become Atmanirbhar,” said Suresh Soni, CEO, Baroda BNP Paribas AMC.
The introduction of Lakshya SIP comes at a time when India’s INR 67.25 lakh crore mutual fund industry saw inflows via SIP’s jump 49% year on year in October 2024 to Rs 25,323 crore. Source www.amfiindia.com
To further enhance compounding potential, Lakshya SIP also offers a Top-Up SIP feature that allows investors to increase their contributions periodically. This allows investors to raise their investments as their income levels rise.
“At Baroda BNP Paribas Mutual Fund, we are committed to our vision of ‘Together for More’. Lakshya SIP is another solution, alongside our My Trigger Plan, designed to align savings towards outcomes,” added Soni.