Birla Sun Life Mutual Fund launches Internet based SIP
First in the industry to launch Internet based SIP. In the recent past, it has launched many initiatives to take customer service to a new level
Tweet-- Birla Sun Life Mutual fund has launched iSIP or internet based SIP, a unique and convenient mode of transaction. This facility will enable investors to start their SIP investments online.
iSIP will provide multitude of benefits to investors – being faster, more convenient and providing paper less management of SIPs. Investors investing through financial planners can quickly and conveniently act upon the advise of their advisors. Investors can make purchases, renew their SIP and also have the option to cancel it online. The service is currently available through Citi, ING and Axis banks. Going forward more banks would be added by BSLMF.
Birla Sun Life Mutual Fund has effectively leveraged technology platforms through its "Anytime Anywhere" initiative to provide its customers enhanced service experience.
“There has been increased interest among investor to invest through the Systematic Investment route. We have witnessed a 250 % jump in the total number of SIPs registered with Birla Sun Life Mutual Fund in the previous financial year. This year, we want to reach out to even more SIP investors. “Mr. Anil Kumar, CEO, Birla Sun Life Mutual Fund said.
He continued, “We now offer our investors the facility to track their investments through Online Portfolio Management service on internet, through Interactive Voice Response system on Toll free number and through Mobile Investment Manager on mobile. All these services are secure, user friendly and more importantly available 24 * 7. The endeavor is to provide full range of convenient service solutions to our investors.”
The success of these initiatives can be gauged by the fact that the online transactions on the Birla Sun Life Mutual Fund website grew by over 350% in the previous financial year.
Notes to Editor
Birla Sun Life Asset Management CompanyEstablished in 1994, Birla Sun Life Asset Management Company (BSLAMC) is a joint venture between Aditya Birla Group, a well known and trusted name globally amongst Indian conglomerates and Sun Life Financial Inc, leading international financial services organization from Canada.
BSLAMC is amongst the top 5 asset management companies in India with an average asset under management of Rs 47096 crores as on March 31, 2009 and a market share of 9.5%. An impressive mix of reach through 116 branches, full range of product offerings across equity, debt, balanced & structured asset classes and strong investment performance has helped the Company enjoy trust of over 2.15 Million investors. Known for its consistent performance, BSLAMC, has received recognition from various institutes of international repute like the CRISIL, Asian investor Magazine, ICRA and Lipper. It is the only fund house in India to have won the coveted “Mutual Fund House of the Year” from CNBC TV 18 Crisil twice in a row.
About Aditya Birla Group
A US $29.2 billion corporation, the Aditya Birla Group is in the league of Fortune 500 worldwide. It is anchored by an extraordinary force of 100,000 employees, belonging to 25 different nationalities. The group operates in 25 countries across six continents – truly India's first multinational corporation.
Aditya Birla Group through Aditya Birla Financial Services Group (ABFSG), has a strong presence across various financial services verticals that include life insurance, fund management, distribution & wealth management, securities based lending, insurance broking, private equity and retail broking. In FY 2008-09, the consolidated revenues of ABFSG from these businesses crossed Rs. 4763 crs, registering a growth rate of 36%.
About Sun Life Financial Inc.
Sun Life Financial is a leading international financial services organization providing a diverse range of protection and wealth accumulation products and services. Chartered in 1865, Sun Life Financial and its partners today have operations in key markets worldwide. As of December 31, 2008, the Sun Life Financial group of companies had total assets under management of $381 billion globally.