Now, you can go for systematic investment in direct equities too.
Called Equity SIP, this instrument allows investment of a fixed quantity of desired stocks at regular frequency. The first-of-its-kind scheme has been launched by ICICI Securities on its broking platform ICICIdirect.
Itâ€™s the first such initiative in India, ICICI Securities said. It provides an opportunity to retail customers to invest systematically and in a disciplined manner in specified stocks and exchange traded funds (ETFs), the company said in a statement.
Under the plan, an investor can purchase a specified stock/ETF at regular intervals over a period of time. The scheme offers two options. Under the amount-based equity SIP, a fixed amount (or approximately the same) is invested in the desired stock at regular frequency while under the quantity-based option same number of stocks can be bought at regular intervals.
The frequency of investment can be daily, weekly, fortnightly or monthly. The scheme is available on a plethora of stocks, gold funds, exchange traded funds. The plan will allow investors an option to systematically start the journey of creating wealth, the release said.
â€œThough there is an appetite for equity investments in India, timing the market brings an element of speculation and thus many potential investors hesitate to make a fundamental investment,â€ ICICI Securities equity head Vishal Gulechha said.