Best SIP Funds

A SIP or systematic investment plan allows people to invest their money in instalments rather than in a lump sum. It makes the investor disciplined towards saving funds. Investors can also choose the frequency of payments or instalments from daily, weekly, quarterly, monthly, bi-annual, and annual.

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SIP is beneficial for all types of investors as it periodically invests a specific amount and grow the habit of savings or keeping liquidity. It also helps in building a corpus for certain life goals. 

Best SIP Funds 

The most important aspect of investing through the SIP option is that investment will be hassle-free. The fixed amount will be auto-debited on the fixed date from the investor's bank account, and investors do not have to time the market. 

By keeping in mind these criteria, SIPs are bifurcated into four categories:

  • Large-cap

  • Mid-cap

  • Multi-cap

  • Equity-linked saving schemes

Let us explore some of the best funds under these categories.

  1. Large Cap Funds

    The large-cap scheme is the scheme that invests in companies with a market cap of over Rs.  20,000. This allows investors to generate income by exposing them to the market's volatility. 

    1. Aditya Birla SL India GenNext Fund (G)

      It was launched on 5th August 2005 for investments in equity instruments and equity-related schemes. It aims to generate more income for the investors by investing in companies with larger market caps. 

      Fund's asset value is Rs. 2523 Crores as of November, 30th 2021. The minimum SIP amount for this fund is Rs. 1000. 

    2. ICICI Pru Dynamic Plan (G)

      It is an open-ended fund that was launched on 31st October 2002. Its expense ratio is 1.83% as of November, 30th 2021. It mainly invests in equity-related funds from varied asset classes to mitigate the risk. 

      Fund's asset value is Rs. 12,243 Crores as of November, 30th 2021. The minimum SIP amount for this fund is Rs. 100. 

  2. Mid Cap Funds

    In mid-cap schemes, people can invest in companies with a market cap of Rs. 500 crores to Rs. 10,000 crores. You can invest in these funds if you have a higher risk appetite and want to grow your funds in a short period. 

    1. Aditya Birla SL Small & Midcap Fund (G)

      It was launched on 31st May 2007 and has an expense ratio is 2.11% as of November, 30th 2021. It invests mainly in equity funds and other equity securities of small and mid-cap companies to generate capital appreciation in the long run. 

      Fund's asset value is Rs. 2,879 Crores as of November, 30th 2021. The minimum SIP amount for this fund is Rs. 1000. 

    2. Canara Rob Emerging Equities Fund – Reg (G)

      This fund was launched on 11th March 2005, and it has an expense ratio of 1.85% as of November, 30th 2021. It invests in the equity securities of the small and mid-cap funds from the diversified portfolio. 

      Fund's asset value is Rs. 11,735 Crores as of November, 30th 2021. The minimum SIP amount for this fund is Rs. 1000. 

  3. Multi-Cap Funds 

    It is a mixture of both equity and debt schemes. People, who have a lower risk appetite or do not understand the market very well, can invest in this type of fund. 

    1. IDFC Premier Equity Fund – Reg (G)

      IDFC Premier Equity Fund was launched on 28th September 2005. Its expense ratio is 1.95% as of November, 30th 2021. Fund's asset value is Rs. 5858 Crores as of November, 30th 2021. 

      The minimum SIP amount for this amount is Rs. 100. It invests in the equity-related securities of small and medium-sized companies with a diversified portfolio. 

    2. Kotak Opportunities Fund (G)

      It was launched on 9th September 2004. It invests in the stocks of the companies that are large and mid-cap across the sectors. Fund managers choose the companies based on their performances in the market.

      Its expense ratio is 1.91% and the asset value is Rs. 8,163 Crores as of November, 30th 2021. The minimum SIP amount for this fund is Rs. 1000. 

  4. Equity-Linked Saving Schemes

    Equity-linked savings schemes (ELSS) invest in the equity market. This scheme is suitable for individuals looking for long-term capital appreciation and who wish to save tax. 

    1. Tata India Tax Savings Fund – Reg (DP)

      It is one of the oldest funds in the market with its launch dating back to 31st March 1996. Its expense ratio is 2.11% and the asset value is Rs. 2889 Crores as of November, 30th 2021. The asset allocation of this fund is on an 80-20 basis. 

      80% of the capital is invested in the equity securities, whereas 20% is invested in the debt funds. The minimum amount for SIP is Rs. 150. 

    2. Aditya Birla SL Tax Plan (D)

      It was launched on 16th February 1999. Its expense ratio is 2.52% and the asset value is Rs. 443 Crores as of November, 30th 2021. 

      It mainly invests in equity-related schemes to generate more income for the investors and provide tax relief. The minimum amount for SIP is Rs. 500.

FAQ's

  • Q. How are SIP taxed?

    A. SIPs are taxed as per the FIFO rule. The SIPs that you redeem first will be taxed first in FIFO or First in first out. For example, if you redeem part of your investment in one year, then that amount will be taxed in the first year under the 10% tab. Similarly, the investment that you redeem later will be taxed later. 
  • Q. How do I invest in SIP?

    A. You can make an online payment from the fund website through a credit or debit card. 
    You can also make a direct transfer from your bank account. Many banks offer an automated debit option through which money will be debited from your account on the determined date. 
    To avail of this facility, register yourself through the fund house website. Update KYC and your PAN details. You will receive the URN number from the fund house. Log in to your bank account and update the URN number and other details. 
  • Q. Can non-salaried or people with fluctuating salaries invest in SIP?

    A. Yes, you can invest in SIP even though you are a non-salaried individual or if you have a fluctuating salary. The minimum investment amount in SIP is Rs. 500 that is doable for individuals. 
    If you are worried about making timely payments because of your payment structure, you can opt for short-term or ultra-short-term funds. 
  • Q. What is the benefit of rupee cost averaging in SIP?

    A. You do not have to time the market when you invest through SIP. When you invest in a lump sum, you have to time the market. It means that you make an investment when the market is low and sell it when the market is higher. 
    It is not plausible regularly. Investments through SIPs are made irrespective of the market conditions. You purchase more stocks when the market is low and purchase less stock with the same amount when the market is rising. It averages the rupee cost. This helps in maintaining stability in the longer run.
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