Description
Sundaram Mutual Fund announces changes to weekly SIP and STP processing from fixed Wednesday processing to all working days of the week.
Summary
Sundaram Mutual Fund has announced changes to the weekly frequency feature of Systematic Investment Plan (SIP) and Systematic Transfer Plan (STP) processing. Effective August 4, 2025, weekly SIP/STP requests will be processed on all working days of the week instead of the current fixed Wednesday processing.
Key Points
- Weekly SIP/STP processing will change from fixed Wednesday processing to all working days
- Change effective from August 4, 2025
- Applies to all schemes of Sundaram Mutual Fund
- Investors will have more flexibility in processing days
- All other terms and conditions remain unchanged
Regulatory Changes
Previous Process:
- Weekly frequency SIP/STP requests processed only on Wednesday of every week
- If Wednesday was not a business day, processing occurred on next business day
- Investors could choose any day (Monday-Friday) but default was Wednesday
New Process:
- Weekly frequency SIP/STP requests will be processed on all working days of the week
- Enhanced flexibility for investors
Compliance Requirements
- Scheme Information Document (SID) and Key Information Memorandum (KIM) will be updated
- Addendum forms integral part of scheme documents
- No action required from existing investors
Important Dates
- Effective Date: August 4, 2025
- Notice Date: July 29, 2025
Impact Assessment
This is an operational enhancement that provides greater flexibility for mutual fund investors. The change improves customer service by allowing SIP/STP processing on all working days rather than restricting to Wednesdays. Impact on markets is minimal as this is purely a processing improvement for existing investment products.
Impact Justification
Operational enhancement for mutual fund processing with limited market impact