Axis MF launches Shagun SIP for systematic gold, silver investing
Axis MF said investors can accumulate up to 25 kg of gold and 50 kg of silver through the feature. The underlying schemes invest in gold and silver of 99.5% and 99.9% purity, respectively.
The feature is designed to provide a digital alternative to accumulating physical precious metals over time, without concerns around storage, security and purity, the AMC said.
Axis Mutual Fund has launched Shagun SIP, a digital systematic investment feature that allows investors to accumulate gold and silver through its Axis Gold Fund and Axis Silver Fund of Fund in terms of grams.
The feature, which is live on the fund house’s website, allows investors to set a target quantity of gold or silver and invest systematically towards it, instead of committing to a fixed rupee amount.
Investors can set a goal to accumulate a specific quantity of gold or silver over a chosen period. The platform then calculates the investment amount required based on prevailing metal prices and sets up a systematic investment plan. For instance, an investor targeting the equivalent of around 5 kg of gold over 10 years can use the feature to build that holding gradually through systematic investments.
Axis MF said investors can accumulate up to 25 kg of gold and 50 kg of silver through the feature. The underlying schemes invest in gold and silver of 99.5% and 99.9% purity, respectively.
The feature is designed to provide a digital alternative to accumulating physical precious metals over time, without concerns around storage, security and purity, the AMC said. Boniface Noronha, chief digital officer, Axis Mutual Fund, said gold and silver remain important asset classes for Indian investors and are often accumulated steadily over time.
“Shagun SIP, a first-of-its-kind digital feature, is a solution that offers a fully digital, goal-based experience for investors looking to build gold and silver holdings systematically over the long term,” Noronha said. Investments are spread across different market levels, allowing investors to average their purchase cost over the investment period rather than investing at a single price.