ET In The Classroom: Stepping up SIPs in Mutual Funds
systematic investment plans (SIPs) at the start of the new year. This could be due to a salary hike, a rise in business income, or allocating more due to higher comfort with mutual funds.
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HOW CAN AN INVESTOR INCREASE THE MONTHLY SIP CONTRIBUTION? Investors can increase their monthly SIP contribution by adding money to their existing scheme or choosing a new fund for their portfolio. They can opt for a scheme from any asset class—equity, fixed income, or precious metals. The additional SIP can begin on any date that is convenient for you. Choosing different dates helps spread the investments over the month.
THERE ARE SEVERAL NEW FUND OFFERS (NFOs) WHICH ARE ATTRACTIVELY POSITIONED. CAN THE HIGHER SIP GO INTO THEM? While there are many well-marketed NFOs, investors should not get carried away since many of these are launched by fund houses to fulfil their product basket or cash in on exciting themes in the market. They should opt for an NFO only if such a product is not available with another fund house or if there is a compelling proposition for their portfolio. It is better to choose a new fund from the existing schemes that have a track record
Best MF to invest
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DO YOU NEED TO ADD A NEW SCHEME WHILE INCREASING YOUR SIP AMOUNT? Investors should build their
