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Last Updated : Jan 04, 2012 01:39 PM IST | Source: Moneycontrol.com

Various AMCs offers demat option for SIP facility

Effective from January 1, 2012 various fund houses like Escort , Baroda Pioneer and IDFC and many others will offer Demat account for SIP facility.

Effective from January 1, 2012, various fund houses like Escort MF, Baroda Pioneer MF and IDFC MF, BNP Paribas, HDFC MF, LIC Nomura, Daiwa MF and many others have decided to offer demat option for those who opted Systematic Investment Plan (SIP) facility.

Investors who subscribe to any of the open ended schemes of the AMCs through SIP facility will be offered the option of subscribing to or holding the units in a demat account on weekly basis on realization of funds.

The allotment of units in demat form will be subject to the guidelines / procedural requirements specified by the Depositories (NSDL/CDSL) from time to time.

First Published on Jan 2, 2012 05:50 pm