Systematic Investment Plan (SIP) FAQs
1) What is (SIP) Systematic Investment Plan ?
A systematic investment plan is an investment vehicle offered to investors, allowing them to invest small amounts periodically instead of lump sums. In PMS, an existing client ( having minimum AUM of 50 Lakhs in existing account ) can top up his existing portfolio as per pre-defined schedule without any paper work at regular intervals.
2) What is the minimum amount to start SIP?
One can start SIP with a minimum amount of Rs. 2 Lakhs in the increment of 50,000/- For e.g. A client can set up SIP for 2 lakhs, 2.5 lakhs, 3 lakhs, 3.5 lakhs etc.
3) What is the frequency available in SIP?
Clients can set up a Monthly SIP or a Quarterly SIP. The debit date is fixed for all clients as 7th of the Month / Quarter. The flexibility to opt for a different date and frequency is currently not available.
In case 7th of the month / quarter falls on a non-business day then the debit will happen on the next working day.
4) What is the Eligibility criteria to invest in SIP ?
Clients Minimum Portfolio balance should be 50 Lakhs.
Clients KYC status on CVL KRA should be registered.
Name in PMS and Name in Bank account should match.
* NRI’s cannot invest through SIP mode.
5) What are the minimum number of installments for SIP ?
- For setting up monthly SIP minimum, 5 installments are mandatory.
- For Quarterly SIP minimum 4 installments are mandatory.
6) How can an Existing Investor set up SIP with Marcellus PMS?
There are 2 ways of doing this A) Via Online mode B) Via Physical mode
7) What email Template I need to use while writing to Clientsupport@marcellus.in ?
Use below template and attach a scan copy of Cancelled Cheque while sending an email request.
SIP Set up Mode : Online / Physical
|PMS Account Code:|
|Investor Name :|
|Name of Strategy :|
| Each SIP Amount in Rs.
( Minimum Amount – Rs.2 lakhs and multiples of Rs.50,000 thereafter) :
| Frequency of SIP Debit:
Monthly (5 Minimum Instalments) / Quarterly (4 Minimum Instalments) :
|Start date: From :|
|Client Name as per Bank:|
|A/c Type: (Savings/Current)|
|Bank Branch & Address:|
SIP Date: 7th of Every Month/ Quarter (In case 7th being a holiday then SIP will be debited on subsequent business day)
8) How will SIP work ? –
- SIP will be debited on 7th of every month.
- The minimum Tranche of SIP has to be 2 Lakhs.
- The SIP set up should get completed before 30th of the month so that debits can be enabled from the subsequent month
*Since 7th February 2021 is Sunday the debit will happen on the next business day (8th February 2021).
9) Will I get charged if SIP instalment gets declined ?
Yes, your Bank might charge Direct debit fail charge. You will need to check with your bank to know the exact amount.
10) Can I Cancel / Stop my SIP in between ?
Yes. You can write to email@example.com before 30th of the month to cancel the SIP from the next month. Same month cancellation is difficult, so please try to give notice well in advance for cancellation.
11) What is the cost of setting up SIP ?
There is no set up cost for SIP.
12) If invested in multiple strategies, can client invest with 1 SIP form ?
No Client needs to fill up separate forms for each strategies.
13) Can a fresh client start an SIP ?
No . Existing Clients who have a minimum AUM of 50 Lakhs in their Portfolio account can only start an SIP. Fresh clients can opt to invest 50 Lakhs either fully or in a STP mode and for top ups in future SIP can be considered.
14) Can the client do partial redemption in between his SIP?
Yes. Subjected to maintaining a minimum balance of 50 lakhs.
15) Can NRI client opt in for SIP ?
No. Only Resident Individual and Non-Individual clients can opt for SIP mode.