Mutual Fund Corner: How to create Rs 2 crore for my children's education?

Updated : December 18, 2018 07:26 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, Feroze Azeez, deputy chief executive officer, Anand Rathi Wealth Management, on our show Mutual Fund Corner.

Q: 31-year-old Pushpendra Mahajan writes to us from Pune. My son is 1-year-old. I want to create wealth of Rs 1.5-2 crore for my kid's education. My investment horizon is 18-20 years. With this objective, I have started SIP of Rs 2,000 each in five funds namely ICICI Pru Bluechip Fund, Kotak Standard Multicap Fund, Mirae Asset Emerging Bluechip Fund, Reliance Small Cap Fund and L&T Emerging Business Fund. All are growth options. I am investing from last three months. Please judge whether fund selection and allocation is proper. If any changes needed in fund, please suggest. I am willing to increase SIP as my income increases.

A: With your current investments, you will be able to accumulate around Rs 1 crore at the end of 18 years. We would suggest you to increase your SIP amount by at least 10 percent every year in order to meet your goal. You can continue to invest in ICICI Pru Bluechip Fund, Kotak Standard Multi Cap Fund, Mirae Asset Emerging Bluechip and Reliance Small Cap Fund. You can redeem from L&T Emerging Businesses Fund and invest in Canara Robeco Emerging Equities Fund.

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Published : December 18, 2018 07:26 PM IST

Mutual Fund Corner: How to create Rs 2 crore for my children's education?

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