Description
Sundaram Mutual Fund modifies weekly SIP and STP processing from Wednesdays only to all working days effective August 4, 2025.
Summary
Sundaram Trustee Company Limited has announced changes to the weekly frequency feature of Systematic Investment Plan (SIP) and Systematic Transfer Plan (STP) for Sundaram Mutual Fund schemes. The modification changes weekly processing from Wednesdays only to all working days of the week, effective August 4, 2025.
Key Points
- Weekly SIP/STP requests previously processed only on Wednesdays
- New policy allows processing on all working days (Monday to Friday)
- Changes effective from August 4, 2025
- Scheme Information Document and Key Information Memorandum will be updated accordingly
- All other terms and conditions remain unchanged
Regulatory Changes
Previous Policy:
- Weekly frequency SIP/STP processed on Wednesday of every week
- If Wednesday was not a business day, processing occurred on next business day
- Investors could choose any weekday, with Wednesday as default
New Policy:
- Weekly frequency SIP/STP requests processed on all working days of the week
- Enhanced flexibility for investors
Compliance Requirements
- Sundaram Mutual Fund to update Scheme Information Document (SID)
- Key Information Memorandum (KIM) amendments required
- Statement of Additional Information modifications
- Notice serves as addendum to existing scheme documents
Important Dates
- Announcement Date: July 29, 2025
- Effective Date: August 4, 2025
Impact Assessment
This is a positive operational enhancement that provides greater flexibility to investors in weekly SIP and STP transactions. The change improves customer convenience without affecting fund performance or creating any compliance burden. Impact on market operations is minimal as this relates to processing frequency rather than investment strategy or fund structure.
Impact Justification
Operational enhancement for investor convenience with no material impact on market operations