New Delhi, Sept. 6 -- Indian investors may need to temper expectations of smooth, linear returns from systematic investment plans (SIPs) and equity markets, with discipline, affordability and the ability to remain invested during downturns emerging as key determinants of long-term outcomes, according to a latest report by DSP Mutual Fund.

The report said that investors often extrapolate past market performance into the future while overlooking risks that remain invisible during periods when markets are performing well. "The hidden risk is that you can't choose the time you were born or the type of environment in which you will invest," DSP said in the report, adding that investors can instead choose diversification and the price they pay...