Nippon MF to offer 'SIP' to Japanese investors

MUMBAI: The popular SIP method for putting money in stocks through the mutual fund route is set to attract Japanese investors to Indian equities. In a first-of-its-kind structure using GIFT City, Nippon India MF is bringing in Japanese retail investors' money into the Indian stock market using the Nifty BeES index fund. Nissay MF, one of the leading fund houses in Japan and a Nippon group company, is floating a 'fund of funds' that will invest money from Japanese investors into Nippon India MF's Nifty Bees fund.

According to Sandeep Sikka, ED & CEO, Nippon India MF the fund structure would be equivalent to an SIP for Japanese investors investing in India. In the domestic market, monthly gross inflows into the MF industry through the SIP route has been in excess of Rs 25,000 crore for the last three months, up over 50% from a year-ago period. Nissay India Equity Fund will be launched on February 19.