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STAGGER THE SIPs and AVOID BUNCHING
Fund houses have specific dates on which SIP investments are made.
Whether you are planning an SIP through the same set of funds, or different funds for each goal, it would be wise to stagger each investment across different dates of the month. So, if you have four active SIPs, spread them in a way that each SIP is made on a different date of the month.
This allows you to retain some liquidity in your savings account since the money does not flow out at one go. The bigger advantage is that you reduce the risk of market timing because the money gets invested on different days, negating any adverse market movements in the interim. If you are adding to an existing SIP, while giving a fresh mandate for the additional investment, you can specify any other date of the month on which the SIP instalment has to be paid out.
Having said that, the SIP mode is supposed to make life simpler for the investor. However, some variants of SIPs defeat the purpose. For instance, the Value Investment Plan offered by some fund houses keep varying the SIP amount on the basis of the returns the fund has generated. If the fund does well in a particular period, the next SIP is lower because the corpus is already bigger than planned. If it does poorly, the SIP amount goes up to account for the shortfall. Such investments only complicate things for the investor and should be avoided. Only extremely sophisticated investors should go for these plans.
Then there are fortnightly, weekly and daily SIPs as well.
We calculated the returns for several options in the past five years and found that there was no significant difference. The daily SIP is very cumbersome.
The monthly option is the best because it coincides with the income flow of the salaried person. The quarterly SIP has done well, but its returns are very volatile. Also, it will entail a lump-sum payment equal to three monthly SIPs.
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