I had invested in Fidelity Tax Advantage for four years with SIPs and have stopped. I am happy with its performance. After discontinuing in Fidelity I started investing DSPBR Tax Saver through SIP, which expires in a month. Is it wise to continue the SIP going forward as I heard ELSS comes to an end after March 2012?
Sateesh Gopal Chelikani
Investing in mutual funds through SIPs is a good move as you get the dual benefit of long-term investing and averaging. Both the ELSS funds that you have invested in are good and you should continue investing in these as long as they are open. This way you get the benefit of tax deductions and the potential to grow your investment over the three year lock-in. In fact, if you should consider continuing in the fund where you have stopped SIP to make the most of the remaining window of benefits that tax planning funds have.
This article was originally published on December 10, 2010.
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