An SIP of Rs 10,000 invested systematically every month in HDFC Top 100 Fund would have grown to Rs 6.88 crore by September. The HDFC Top 100 fund, which predominantly invests in largecap stocks, has completed 27 years since its launch. The scheme has given around 14% returns on SIP investments made for a period of 10-15 years.
Over the past three months, the average monthly gross SIP registration was 3.5 million compared with the previous 24-month average of 2.2 million reflecting the rapid pace of SIP additions.
Fixed amount monthly contribution through mutual fund SIP has it own limitation specially when you are saving for a long term life goal. As inflation would make your goal costly you would need to save higher. With time most people witness a gradual rise in their income and they can channelise some additional savings towards increasing their contribution annually through step up SIP and save a much bigger corpus than what was originally estimated.
Over the past three months, the average monthly gross SIP registration was 3.5 million compared with the previous 24-month average of 2.2 million reflecting the rapid pace of SIP additions.