I hope you are doing well. I am planning to do SIP for long term, please suggest whether to go with 5 years or 10 years. This is for my kid’s (six yrs old) and I hope I have appetite to invest next 10 years. I have opted the funds below, please advise whether these are fine to go with.
1000 rupees: Large cap: Axis Bluechip Fund
1000 rupees: Mid: HDFC Mid cap opp fund Done
1000 rupees: Balanced: HDFC Hybrid Equity Fund
2000 rupees: SBI Magnum gilt fund 2000
Sir, any update
A Systematic Investment Plan is very useful to invest in today’s highly volatile market. These kinds of plans are traditionally offered by Mutual Fund houses for small investors to start their investment in the stock market. The SIP investment schemes help investors to save regularly and get the benefit of both phases of the market i.e. Bull & Bear.
Generally, the holding period of SIP investment is 3 years. However, the financial advisers suggest investing in SIP for a longer duration (minimum 5 years). When invested for the long term, SIP can work wonders.