I have been besieged with requests for a low priced product since we started weekendinvesting in 2017. The most common two requirements from those new to the markets have been lower pricing of at least one product and lower entry hurdle to the product .
We have solved both with Mi SWING. I have done some product modifications on the SWING product to suit these needs.
Mi SWING will have a min entry ticket size of INR 50000, and a max portfolio size of INR 3 lacs. The recommended size of portfolio that one should build the portfolio to (using SIPs or lumpsum adds) over time is 1-3 lacs. We are putting a cap on the max amount so that the small investor does not get crowded out by larger ones. This will enable us to accommodate more smaller accounts. If your portfolio grows organically beyond 3 lacs, the service can continue.
Mi SWING will be priced very competitively at 3999 (inclusive of GST) for the year. There will be only one plan.
Mi SWING will be a 10 stock momentum portfolio across all NSE stocks including some below 1000 cr. market cap as well. Adequate volume filters will be in place to ensure liquidity. The rebalance will be done on a weekly basis. The strategy will go sit in cash(liquid bees) when there is no opportunity. The unique feature of Mi SWING will be that it has the ability to pick stocks early in the momentum cycle and also later (near all time highs for instance) . The overlap of stocks with other popular schemes is expected to be low and we are expecting most new users to be first time users.
The result of the strategy over last 5 years of back-test is:
To give you a feel for the type of stocks this strategy may have this is the current portfolio
The service will likely start from next week. A separate announcement will be made at that point.