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Anand MFD Mukesh Patel of Khushi Wealth has built monthly SIP book Rs. 1.77 crore. Interestingly 60% of the SIP flows has come from B30 investors. He has over 2,000 investors and manages AUA of over Rs. 273 crore of AUM in mutual funds.
Cafemutual spoke to Mukesh to know how he has built his SIP book. What stood out from this conversation was - simplicity is the key. Mukesh remarkably explains all about SIPs in just three simple lines. Let’s see what Mukesh says:
#1 - SIP करायो, Life बनाओ
Rising inflation, expenses and uncertainties are key investor concerns. To ease these concerns, I came out with a tagline - SIP करायो, Life बनाओ.
I have registered the tagline with trademark authorities. I believe taglines are a quick and effective way to gain investor attention and convey messages with simplicity. Besides, they also create curiosity in investors’ minds.
Many investors usually ask me ‘SIP से life कैसे बन सकती है? This is when I talk to them about the benefits of SIPs. I numerically illustrate their potential to create inflation-adjusted returns and wealth over the long term.
#2 - नया goal नई SIP
I encourage investors to have a separate SIP for each financial goal. The idea here is to make them committed and disciplined.
Linking financial goals to SIPs make investing more meaningful as investors tend to get emotionally attached. Goals such as saving for children’s education, children’s marriage, purchase of home, etc. make SIPs even more important.
This also encourages investors to top up their SIPs in future to reach their goals faster. Additionally, they think twice before stopping any SIP abruptly.
#3 - Timing करना व्यर्थ है
Many investors try to time the markets for making an investment decision. Also, when volatility hits, they usually make hasty decisions and may want to stop SIPs.
To tackle this, I keep reinforcing the concept of ‘rupee cost averaging’. Navigating through the market highs and lows, mutual funds bring down the average cost per unit over the long term.