ICICI Securities, the largest integrated securities firm, today announced the launch of `Target Investment Plan (TIP)? on its online broking platform, ICICIdirect (www.icicidirect.com). This unique service would help investors take a goal-oriented approach to investing in Mutual Funds.
TIP is a simple and smart method of investing in Mutual Funds where the amount of monthly contribution is determined by current portfolio performance and invests more when the market is low and invests less when the market is high. This method of investing helps lower the average cost of investment and has the potential of providing better return than the regular systematic investment plan (SIP) wherein a fixed monthly investment is made in Mutual Funds.
The service is unique as it starts with the investor?s goal and endeavours to help them achieve it by adjusting the monthly investment depending on the financial market conditions.
?At ICICIdirect, we believe that it is important for our customers to achieve their financial targets within their set timelines irrespective of the market conditions. The Target Investment Plan, which follows the key investing principle of investing less when the prices are high and more when the prices are low, will be that smart investment tool which will not only helps our customers in achieving their financial goals but also provides better returns than a regular SIP,? said Mr. Vineet Arora, Head of Products and Distribution.
Customers of ICICI Direct can invest in a paperless manner in specified Mutual Fund schemes by choosing a target amount, period to achieve the target and an expected rate of return. Thereafter the monthly investment amounts would be deducted from the linked bank account. Monthly investments would be limited to the maximum amount set by the customer at the time of starting a TIP.
The ICICIdirect research team also provides mutual fund research reports which help investors in taking informed decisions while selecting mutual funds. These reports are available free of cost to all ICICIdirect customers.
ICICI Securities is one of the largest integrated securities firms in India covering the needs of corporate and retail customers through investment banking, institutional broking, retail broking and financial product distribution businesses.
ICICIdirect.com from ICICI Securities with over 2.2 million customers is a leading player in online and offline financial product distribution. ICICIdirect conducts training programs in over 250 of its stores across the country to empower retail investors to take informed decisions on their investments through the ICICIdirect Learning Centre. These training programs include Shares simplified, F & O Simplified, Mutual Fund Primer and Insurance Intelligence.