Personal Finance

Mutual Fund Corner: Are these mutual fund schemes right for me?

Updated : November 27, 2018 06:54 PM IST

Want to invest in mutual funds but don’t know how to go about it?

Get all your mutual fund related queries answered by our expert, Vishal Goenka, director, Wealthtree Investments, on our show Mutual Fund Corner.

Q: I am a long term investor and currently investing Rs 20,000 per month in SIP DSP Midcap, DSP Tiger, Invesco India Growth Opportunities, ICICI Bluechip, Motilal 35, Parag Parikh, Reliance Small Cap, SBI Small Cap, SBI Consumption and Tata Digital India. I hold HDFC Equity Savings, L&T Emerging Businesses, Mirae Emerging Bluechip and two other new fund offers. I want to know whether I have invested in right fund or not, asks Karan Ravi.

A: There are many funds in your portfolio that you should reduce first. You have about ten funds for Rs 20,000 SIP, which you should reduce to five funds. Depending on your risk, goal and time horizon, you can choose five funds. You should have DSP Midcap, Reliance Small Cap, ICICI Bluechip, Motilal Oswal Multicap 35 and L&T Midcap for SIP. HDFC Equity Savings is a conservative fund that has equity, arbitrage and debt in investments. If horizon for this corpus is less than three years, stay invested. Otherwise, move out and invest in diversified equity fund. Other lump sum investments are fine and nothing to worry about it. Try to avoid new fund offer in future as we don’t know how funds will perform.

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