Investment professionals and fund industry veterans say that, to inculcate investing discipline, nothing matches systematic investment plans (SIPs) by MFs. For those who are used to putting their money in bank FDs and RDs, SIPs are the equivalent of RDs but in the MF space. The other differentiators are that investments through SIPs in MFs may fetch you a return higher than RDs, and in some cases you can also enjoy tax benefits which are not available in RDs. But on the downside, unlike RDs, here you will not get any guaranteed return.
To start an SIP, you can either get in touch with your adviser, or approach a fund house directly . You will need to have a bank account. Then fill up a form for investing in the fund of your choice. You can opt for electronic clearance facility so that you will not need to write cheques for every investment, which could be every month or quarter.
Another advantage of in vesting through the SIP route is the rupee-cost averaging. As you invest a pre-set amount on a pre-fixed date of every month, you get more units of the fund when the net asset value (NAV) of the fund is low, while you get less of the same when the NAV is high. In this way , you average out the cost of acquisition of the fund units over the long term. You will not enjoy this benefit if you invest a lump sum into the same fund.
Action Plan: Pre-define goals when you start investing
Check your fund performance on a regular basis but definitely not daily or weekly h Be patient, give your investments time to grow
1.ICICI Prudential Tax Plan
2.Reliance Tax Saver (ELSS) Fund
3.HDFC TaxSaver
4.DSP BlackRock Tax Saver Fund
5.Religare Tax Plan
6.Franklin India TaxShield
7.Canara Robeco Equity Tax Saver
8.IDFC Tax Advantage (ELSS) Fund
9.Axis Tax Saver Fund
10.BNP Paribas Long Term Equity Fund
You can invest Rs 1,50,000 and Save Tax under Section 80C by investing in Mutual Funds
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For further information contact Prajna Capital on 94 8300 8300 by leaving a missed call
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