Should I continue with existing SIP

You have not mentioned your investment objective in your query. Since you have invested in a Dividend Yield fund (Birla Sun Life Dividend Yield Plus fund), we are assuming that you want limit downside risk and volatility in your investment while looking for value in the long term. If that is your objective then you can stay invested and continue with your SIP in the scheme. Due a variety of global macro factors, including the China situation, the situation in Europe, the impending US interest rate hike (and the uncertainty around its timing), the situation with crude and commodity prices, equity markets are expected to be very volatile over the coming months. Dividend yield funds tend to perform relatively better in volatile markets. They tend underperform growth oriented equity funds in rallying bull markets. Therefore over a three to five year investment horizon growth oriented funds have the potential to outperform dividend yield funds. But once we reach the peak of a bull market cycle and valuations appear expensive, dividend yield funds will outperform growth oriented funds. Typically dividend yield funds do well over an investment horizon of 5 years or more. On the other hand, if you want higher returns over the next 3 – 4 years, then you can switch to a growth oriented equity fund.

Equity Linked Saving Schemes (ELSS) are eligible for tax deduction under Section 80C. These funds have a lock in period of 3 years.

Fund are among the top performing ELSS funds.

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