Inspired by the stories of successful SIP drives of MFDs on Cafemutual, Shalab Gupta Bibhab of Bibhab Capital from Agra conducted his first SIP drive successfully with 237 SIPs amounting to over Rs.20.64 lakh on March 8.
Shalab largely caters to affluent investors. Most of his clients have started large ticket SIPs of close to Rs.50, 000 a month. Overall, 60 clients participated in the SIP drive.
Let us look at his SIP drive story:
- Targeted existing salaried clients who have saved money during lockdown due to reduced spending
- Most of these clients have witnessed healthy returns in their investment portfolio and expressed their interest to invest more
- Met 70 clients over the period of one month. While most clients had shown interest to invest in mutual funds through lumpsum, he educated them about rupee cost averaging and advised them to take staggered approach to reduce the risk of timing the market
- He took his clients through historical performance of SIPs in mutual funds and showed them that chances of getting negative returns diminishes with time in SIPs
- Overall, 60 clients including 3 new clients participated in the drive
- All these SIPs will be active for at least 5 years
