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Be disciplined and systematic with investments to achieve your financial goals

I have been investing through SIP in Magnum Contra and Magnum Multiplier Plus since early 2008 and in HDFC Top 200, Sundaram Select Midcap, Sundaram SMILE and Reliance Regular Savings Equity since mid 2009. Should I continue or switch to some other funds?
- Praveen Kumar

It's good that you are investing via a Systematic Investment Plan (SIP). When you invest in equity, please keep a time horizon of around five years whatever be the fund. The fact that you speak about switching to some other fund shows that you do not need the money.

Currently you are investing in six funds. We don't know the amount you are putting in each. If you find there are too many funds and just miniscule amounts are going in each, then you can reduce the number of schemes to four or five.

Why do you need two mid-cap funds, that too both from the same fund house? Terminate your SIP in either one of the schemes from Sundaram BNP Paribas Mutual Fund. Ditto in the case of the two multi-cap schemes from SBI Mutual Fund.

Your Investment list
Funds  Equity Category  Fund Rating
Sundaram BNP P S.M.I.L.E Mid & Small Cap ****
Sundaram BNP P Sel Mid Cap Mid & Small Cap *****
Magnum Multiplier Plus Multi Cap ***
Magnum Contra Multi Cap ***
Reliance Reg Savings Equity Multi Cap *****
HDFC Top 200 Large & Mid Cap *****
Rating as on September 30, 2010

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