How to track SIP investment

To effectively track your SIPs, start by logging into the platform of the AMC where you've made your investments. Once logged in, you can access your account statement and monitor the performance of your funds.
EXPLORE FUNDS
How to track SIP
EXPLORE FUNDS
3 min
19-September-2024
SIPs or Systematic Investment Plans are an excellent approach to creating your mutual fund portfolio as they allow you to contribute a constant amount at a stipulated period. Tracking your SIP investments will ensure that they align with what you want financially and help you decide if any changes are required. In this article, we will take you through the steps of efficiently tracking investments in SIPs and useful tips and tools for monitoring them. Tracking SIP investments will allow you to keep a tab on how your portfolio is performing and, thereby, achieve your financial objectives seamlessly.

Why monitor SIP performance?

Your investments may not do as well while your money is in a systematic investment plan for any number of reasons, and monitoring their performance ensures you stay on track to achieve your objectives. This way, you can compare your SIP investments to market benchmarks over time and identify underperforming or loss-making funds. It will also allow you to monitor your SIP investments closely and give you an opportunity for market-related activities, portfolio rebalancing, and restricting your strategies to make informed decisions. This, in turn, will ensure maximum returns on your investments. Additionally, it is lucrative to understand how you can track your investments.

How to track SIP investment?

There are many tools and various ways to track your investments. Let us try to understand each of them, their uses, and their scope.

1. Consolidated Account Statement (CAS)

CAS is one of the best ways to track SIP investments. CAS gives a consolidated view of all the mutual fund schemes you hold across different fund houses in the form of a single statement. This information will cover unit holdings, balance, and transaction history for each. Investors can avail of their CAS from CAMS and Karvy, registrars, or directly from their respective fund houses. This statement is dispatched by email every month directly to the investor, enabling you to keep track of your investments every month in an easy and accessible manner.

2. AMC’s mobile app/web portal

Mobile apps and web portals are available through many Asset Management Companies (AMCs) to help investors keep track of their SIP investments. Investors can see their investment portfolio and the individual performance of each SIP and download account statements that show complete transaction history by logging into the AMC platform. These apps and websites also often offer some added functionalities like goal tracking, return analysis of the portfolio, and some insights regarding investments. Doing it through AMC's mobile app or web portal is good for keeping track of all the SIPs you are currently holding and when you should be pulling out from your investment.

3. MF factsheet

SIP investments can also be tracked using mutual fund factsheets. Typically published monthly by the fund house, these are detailed documents that showcase information about the performance of mutual fund schemes, historical returns, portfolio composition, and commentary from fund managers. An MF factsheet is a one-page document, and by reviewing it, investors get an insight into the fund's performance, how it invests, and where its investing approach stands in comparison to its peers. It also outlines certain necessary benchmarks. Investors can better monitor SIP investments by viewing the MF particulars of a factsheet.

4. Online portfolio trackers

The online portfolio tracker is a facility designed for investors to combine and track all their mutual fund investments, making them a suitable answer to how you can track your SIP investments. These platforms provide a detailed dashboard showing you the performance, asset allocation, and risk profile of your SIP investments. Some online portfolio tracker tools provide alerts and reporting, while most offer trading prices with basic analysis. An online portfolio tracker can reduce the effort needed to track your SIP investments and even give you tips on optimising them.

5. SEBI-registered investment advisor

If you need more professional assistance, consulting a SEBI-registered investment advisor is a good call. These advisors have the requisite capabilities to offer customised investing advice. They can help you keep track of your SIP investments, evaluate their performance, and suggest changes if there are any requirements based on your future goals or risk-taking capacity. You can leverage the experience of an investment advisor to monitor and manage your SIP investments professionally at a level that aligns with your long-term goals.

How to monitor and track your SIP investments with Bajaj Finserv?

The Bajaj Finserv Mutual Fund Platform helps you in monitoring and tracking your SIP investments effectively. Here are some key features:

  • Complete dashboard: Gives a summary of your investments and SIP performance.
  • Goal tracking: This allows you to set financial goals and track your progress toward meeting them.
  • Tailor-made reports: You can fetch your own comprehensive performance report related to investment, portfolio allocation, and associated risk profile.
  • Alerts and notifications: The platform sends regular and timely alerts and notifications to keep you abreast of information on the progress of your portfolio, including your SIP investments.
  • Insights from experts: The platform offers investment insights and tips on how to improve your portfolio from professional financial experts.

Conclusion

Tracking your SIP investments is essential to ensure they align with your financial goals and objectives. So, how can you track your SIP investments? You can easily do so using the Consolidated Account Statement, AMC mobile app/web portal, MF factsheets, portfolio tracking sites, or seeking advice from SEBI-registered investment advisors.

If you wish to invest in mutual funds to meet long or short-term objectives, you can easily do so by visiting the Bajaj Finserv Platform. You can compare 1,000+ mutual fund schemes listed on the platform offered by top fund houses. Apart from analysing historical performance, you can use tools like the mutual fund calculator to estimate potential returns and ensure you accomplish your financial goals.

Essential tools for all mutual fund investors

Lumpsum CalculatorSystematic Investment Plan Calculator Step Up SIP CalculatorSBI SIP Calculator
Tata SIP CalculatorHDFC SIP CalculatorNippon India SIP CalculatorABSL SIP Calculator


Frequently asked questions

What is a SIP?
SIP or a Systematic Investment Plan is a way of investing in mutual funds with fixed amounts at regular intervals, generally weekly, monthly or quarterly. In simple words, this allows for disciplined investing and rupee-cost averaging.

How can I monitor my SIP investments?
Tools to track your SIP investments include the Consolidated Account Statement (CAS), AMC’s mobile app or web portal, MF factsheets, and online portfolio trackers.

What should I look for when monitoring SIP investments?
You should look for past performances that are benchmarked, consistency in returns, fund manager's strategies, and your portfolio’s components.

How frequently should I review my SIP investments?
You are advised to check your SIP investments quarterly. Frequent review keeps you updated on your performance, which enables making changes if required to reap the best possible returns.

Can I change my SIP amount or frequency?
Yes, you can modify your SIP amount or frequency. The online platforms of most AMCs permit investors to change the SIP details themselves or submit a request form for the same.

What are the common mistakes to avoid when monitoring SIP investments?
The most common mistakes that investors make are not reviewing their portfolios regularly, not focusing on long-term performance, and not diversifying their portfolios.

How can I track the performance of my SIPs against benchmarks?
One way of checking the performance of your SIPs against benchmarks is by using online resources like portfolio trackers, MF factsheets, and AMC reports.

What should I do if I'm not satisfied with the performance of my SIP investments?
If you are unhappy with how your SIP investments have performed, get your investment strategy and portfolio reviewed by a SEBI-registered investment advisor or consider shifting to better-performing funds.

Is there a way to automate the monitoring of SIP investments?
Many AMC platforms and online portfolio trackers come with automatic monitoring, alerts, notifications, and customised reports to keep you updated about your investments made through the SIP route.

What are the tax implications of SIP investments?
SIP returns are taxed as capital gains tax. Equity mutual funds, if held for over 1 year, are taxed at 12.5% on gains exceeding Rs.1.25 lakh (LTCG). On the other hand, mutual funds held for less than 1 year (STCG) are taxed at 20%. If you invest in debt funds through SIPs, gains arising from the redemption of units held for less than 24 months (STCG) and more than 24 months (LTCG) are taxed according to your income tax slab rate (as per the latest Union Budget 2024 amendments).

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Bajaj Finance Limited (“BFL”) is an NBFC offering loans, deposits and third-party wealth management products.

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