By CNBC-TV18 Jan 22, 2019 7:26:02 PM IST (Published)
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Get all your mutual fund related queries answered by our expert, Sharad Singh, chief executive officer and founder, Invezta.com, on our show Mutual Fund Corner.
Q: 32-year-old Alpesh Kantharia writes us from Mumbai. Invested Rs 1,000 in Axis Long Term Equity Fund (ELSS), Rs 3,000 in Reliance Tax Saver Fund (ELSS), Rs 1,000 in Mirae Asset Emerging BlueChip Fund and Rs 5,000 in HDFC Midcap Opportunities Fund via SIP. Please give comments on my portfolio allocation.
My ELSS mutual fund has completed four years of investment. I am more concerned about Reliance ELSS. Should I continue with it or exit since its performance past one year is very bad. Also, let me know whether other funds in my portfolio is good. My horizon is of 15 to 20 years. I have kept HDFC MidCap Opportunities Fund separately only for my daughter's higher education after 15 years.
My other goals are daughter’s marriage after 23 years, corpus required is 30 lakh, retirement after 25 years and corpus required is Rs 4 crore. I will be increasing my SIP in future. Suggest in what proportion I should increase in above mentioned funds or any new fund to achieve my goals. Please suggest/comment if any changes to be made to my portfolio.
A: For ELSS, rotate after three years and try Tata Tax Saver and DSP Tax Saver Funds. For daughter’s marriage, invest Rs 2,000 each in SBI BlueChip and Franklin Prima per month. Coming to retirement, invest Rs 6,000 in Motilal Focus, Rs 12,000 in Prima and Rs 12,000 in Kotak Emerging Equity. Also, consider increasing these SIPs by 5-10 percent Y-o-Y.
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