Description
Sundaram Mutual Fund modifies weekly SIP/STP processing from Wednesdays only to all working days of the week effective August 4, 2025.
Summary
Sundaram Mutual Fund has modified the weekly frequency feature for Systematic Investment Plan (SIP) and Systematic Transfer Plan (STP) on NSE MF Invest Platform. The change expands 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 system will process weekly requests on all working days (Monday to Friday)
- Change applies to all schemes of Sundaram Mutual Fund on NSE MF Invest Platform
- Modification affects Scheme Information Document (SID) and Key Information Memorandum (KIM)
Regulatory Changes
Previous System:
- Weekly frequency SIP/STP requests processed on Wednesday of every week
- If Wednesday was not a business day, processing moved to next business day
- Investors could choose any day (Monday-Friday) but default was Wednesday
New System:
- Weekly frequency SIP/STP requests processed on all working days of the week
- Greater flexibility in processing schedule
Compliance Requirements
- NSE members must note the changes for client servicing
- All other terms and conditions of SID/KIM/SAI remain unchanged
- Changes incorporated into relevant fund documents
Important Dates
- Effective Date: August 4, 2025
- Circular Date: August 1, 2025
- Addendum Date: July 29, 2025
Impact Assessment
Operational Impact:
- Improved flexibility for investors in weekly SIP/STP processing
- Enhanced operational efficiency for fund processing
- Better alignment with market working days
Market Impact:
- Minimal market impact as this is an operational enhancement
- Affects only Sundaram Mutual Fund schemes
- Positive for investor convenience and fund operations
Impact Justification
Minor operational change affecting only weekly SIP/STP processing frequency for one mutual fund house