How it works
This scheme is applicable to any SIP scheme offered by HDFC Mutual Fund. The top-up amount should be in multiples of Rs 500. At a pre-determined interval (half yearly and annual), investors can increase the amount of the SIP instalment. So what it does is ensure that the investor gradually increases the SIP amount during the tenure.
Our View
Why would you increase your investment every six months? One can understand the logic of increasing it every year to coincide with salary increments. Moreover, all it does is increase your exposure to the fund irrespective of where the market is headed. The market could be moving up and you could be increasing exposure or it could be moving downwards. Unlike other SIP tweaks which seek to buy more units when the market is going down and less when the market is moving upwards, this one ignores that aspect. The focus is on increasing the SIP over time.
SIP Top-Up
Ensuring that you gradually increase your investment in a fund
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