Nippon India Small Cap Fund restricts SIPs limit to 
50, 000 per day
One of the Leading Mutual Fund companies in India, the Nippon India Mutual Fund has publicized limitations measures for limiting fresh inflows into its widespread Small-cap scheme.
In a notice, the mutual fund stated it was dropping the amount which can be invested through new applications. Starting from today, the small cap scheme will only support the Systematic Investment Plans - SIPs & Systematic Transfer Plans- STPs with a bound of 
50, 000 per day per PAN.
50, 000 per day per PAN.
In an announcement, the mutual fund said, “The limit on subscriptions of units has been proposed to facilitate the gradual deployment of corpus in order to align with the nature of small-cap investing,”
Further it added, “The step is warranted considering the recent sharp rally in the small-cap space and increased investor participation through high-ticket investments, which would be in the best interest of existing unit.
Also, the Nippon India Mutual funds shifted the exit load charged on to the scheme, in which previously an exit load of 1 percent would be imposed if the units were purchased within one month of the date of allotment. Now it will be collected the charges if the units are purchased within one year of the allotment.
The statement of the Nippon India Mutual funds comes very after the Indian market regulator, Securities Exchange Board of India - SEBI funds wrote to the Indian Association of Mutual fund & asked to take the essential steps to defend the keens of investors in the space of small & mid cap funds.
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