What is a Monthly Income Plan?

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Monthly Income Plan popularly known as MIP is a debt oriented hybrid mutual fund product. In MIP Equity is allocated in between 5% -25%, and the balance would be the debt allocation. The Investment objective of Monthly Income plans read as , " To generate regular returns through investment primarily in Debt and Money Market Instruments , also to generate long-term capital appreciation by investing a portion of scheme's assets in equity and equity related instruments". Though the objective is to provide regular returns, but the regularity and quantum is not assured. Advisors/Planners do advise on MIP to supplement the goal of regular returns and also to provide some tax efficiency in client's profile. MIPs also get advised in growth option if client portfolio and risk profile demands.

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