I invested in UTI Nifty index fund through SIP. This fund diversifies your money in the top 50 companies of the country. The Fund manager of this fund is very smart and he has fetched a nice return throughout his work life in this fund. The direct plan of this fund is very cost effective and I recommend you to invest in direct plan, for young people invest in direct growth plan. The fund has zero exit load. In this fund you can invest as low as 500 rs. The fund has very nice asset allocation.