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POSTED BY ON December 18, 2013 9:42 am COMMENTS (5)
Dear Team,
Almost 2 years ago, I had drafted my Financial plan; thanks to Manish & Jagoinvestor team. That time I had started an SIP of Rs 3000 in Fidelity Equity Fund (now known as L&T Equity fund) from 1st Feb 2012 (for a goal in target year 2036)
However, I decided to stop investing in this fund as I lost confidence in it & my last SIP in this fund was on 15th June 2012. I have invested around Rs 13000 in this fund.
To replace this fund, I started an SIP in UTI Opportunities Fund from 30th May 2012.
I could not exit from L&T Equity fund as it would cost me an exit load. Now that the 1 year lock in period is over, I wish to remove this amount and divert it back to my original goal set. How should I go about it?
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Yeah. If you are taking money out of equity and putting it right back in equity, you need not worry about the timing..
Dear Electro, you are merely switching money from one Eq. fund to another Eq. fund. So why do you want to disrupt the compounding?
thanks
Ashal
@ Sumit: Thanks for the reply. It is not the only fund I am investing in. My concern is only about transferring the money.
@Ashal: I had heard that Lump sum investment is not suited for Equity investments. Should I simply start a Systematic Withdrawal Plan and move the money to my bank a/c & then start a fixed SIP of 2000 for the next 7 to 8 months (considering the appreciation on L&T Fund to nearly Rs 15,000) into UTI Opportunties Fund?
Dear Electro, please redeem and invest in lump sum in UTI opportunity.
Thanks
Ashal
UTI Opportunities is a very good fund, but if it is the only fund you are investing, then I would suggest to add 1 or 2 more funds. May be 1 from large or large-mid category like – 1) ICICI Pru Focused bluechip / Or Quantum Long Term Equity Fund
and 1 from small mid-cap catagory
1) IDFC Prem Equity / Or SBI Emerging Business Fund.
Thanks
Sumit