1. General Stock Market & World Economy performance - I will not buy at peak, I buy at the bottom, DCA is rubbish.1. Performance vs. benchmark 5 years minimum - I will not buy any fund which does not have min 5 years performance
2. Audited annual accounts - income, expenses, turnover, fund size, fund manager & policies
3. Fact Sheet - Monthly - Latest 6 months - Holding, percentage, regional risks, interest, equity vs. fixed income risks
4. Standard & Poors, Morningstar reviews - performance vs peers - I tend to buy funds which have dropped the least compared to peers during bad periods ie. 1997, 2001, 2008. Any fund will make money in a bull period, it takes skill to survive in bear.
5. Asset Allocation - You must have a proper asset allocation to diversify your risks.

Well, for me DCA is not worth it, but I will let you decide with the pro and cons ...

Pros
1. Continuous investment regardless of market sentiment - no emotions
2. Lets you average out your investments, so you will get at least get equivalent to fund performance
3. Automated process (if you can consider this one a pro...)

Cons
1. Your agent will get monthly commissions (like steady salary to him  )
2. Tend to have average or below average performance over investment lifetime after minus the fees
3. Not able to take opportunity when the market is having a massive discount
4. Not able to cash out when the market is way over priced
5. Not able to re-align your asset allocation mix to market sentiments
6. Blindly invest in a fund, no matter how the fund perform, once you DCA, you tend not to monitor it anymore. So if the fund performs poorly, you will not realize it until very late. 80% of the funds perform below benchmarks over the long term. 

Well you decide then. 

Don't merely look at some performance presented to you. Look across and assess more.
There are hundred of fund out there, anyone can pick a few the best to show you, but those poor one being set aside.
Which is a norm practice across, (not only UT but almost all investment field)

If you have no income and no passive income (I presumed as mentioned as student), DCA is furthermore not suitable.

In fact, you don't need to rush into it, can monitor how well the market or UT performance against market benchmark, or doing some simulation work, as for own assessment and research.
Money is yours, don't rely other words, and others presented data as guideline for investment. Understand your own is the most important factor to start with.

1. When you review funds, the best funds are those who falls the least during bad times and have a ever widening premium over benchmark, during good times any "capalang" funds also can make money. So the period when you are reviewing is very crucial. If you take 2009-2010 for your review, almost any rubbish fund also have good gains.  Anyway don't look at quarterly results, look for at least 5 years worth of data and their holdings, turnover and fees.

2. If you want to learn investing, DCA is the worst place for you to start because then you will not learn anything at all. The best way to learn is to put your money at risk when you think it is a good time to invest and take it out when you think it is bad. DCA and averaging it out, you will not get any value out of it, because DCA is designed for those who could not care less about the market gyrations and valuation.

P/S if you are reviewing PM quaterly results, please beware those are bid-to-bid graphs, they have not minus out the fees yet. 

PP/S what are the funds recommended by your upline?