Should I continue with my existing mutual fund SIPs

My age is 29 and I was invested in UTI Opportunities (Rs. 1500) for past 5 years and it is over due now and I would like to invest that 1500 (for next 10 years with higher returns). Due to poor performance of UTI Opportunities, I don't want invest on the same. Please suggest what I can do. My option will go for UTI Mid Cap and switch that UTI Opportunities to UTI Midcap and continue start investing on UTI Midcap Fund or keep that UTI Opportunities as it as (without redemption) and start investing on the new fund Mirae Asset Emerging Bluechip (mid cap fund). Please advice which will be the best option for me. Note: I'm already investing in ICICI Pru Discovery Fund (Rs. 2000), and IDFC Premier Equity Fund (Rs. 2000)?

Aug 22, 2017 by Baskar G, | Mutual Fund

Yes, you are right. The performance of your existing SIP scheme is not comparable to the other top performing funds in that category, therefore, you must replace it with a better fund.

Yes, your selection of Mirae Asset Bluechip Fund is good and you can start the new SIP in this fund. However, you can not invest in this fund in lump sum. Therefore, after you redeem your existing SIP fund, you should invest the same in a good performing large cap or mid cap fund. From large cap, you can consider SBI Bluechip Fund or Aditya Birla Sun Life Frontline Equity Fund or Kotak Select Focus Fund. From midcap category, you can consider investing in SBI Magnum Midcap Fund or Birla Sun Life Pure Value Fund or Reliance Small Cap Fund.

Your existing investment in IDFC Premier Equity Fund also needs to be reviewed. Once a marquee fund, the same failed even in beating the category return in the 1, 3 and 5 year period. Therefore, you should switch to a better fund.

You can always this link to select top performing funds from any category - https://www.advisorkhoj.com/mutual-funds...

Thanks for writing to Advisorkhoj.

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