You should switch when situations change. It is not that you switch and things improve at your end at once. It is a benefit and one should exercise it when your needs change. Switching should be resorted to while transferring from one plan to the other and it should have a logical explanation. If you were young at the time of a particular investment that you made and now you think you should take less risk as you have become 40, or if you are invested in an equity plan and the market crashes and you cannot handle the downturn, then you should move to a balanced plan where equity allocation is less.
Therefore, it is always your necessities that should guide you to opt for a switch. If your investment horizon is for a longer period, then go for an aggressive plan, which has more equity allocation. When you come close to redemption (3-4 years earlier to that), you should switch to a conservative plan where most of your profitability gets locked into fixed income instruments and your exposure gets less in equities. When the final withdrawal time comes, when you actually take your money out, its value will not affect you even if markets go downhill.
Entry loads from August 1 have been discontinued. Should I mention the earlier folio number, or do I have to source a new one. I have an ongoing SIP in SBI Unit Horizon Two.
First, you should discontinue your ongoing SIP and subsequently you can invest in your existing folio when you invest after August 1. You will have to instruct your fund house that you intend to stop the current SIP. Thereafter, you can start a fresh SIP in the same folio.
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