Personal Finance

Mutual Fund Corner: Will I be able to make Rs 1 crore in 15-16 years?

Updated : November 27, 2018 05:07 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: 36-year-old Kannan Ambady writes to us from Kerala. I am currently doing SIP in following funds: Mirrae Asset Emerging Bluechip Fund Direct (G) (Rs 8,000), Reliance Small Cap (G) (Rs 4,000) and Reliance Focused Equity Fund (G) (Rs 4,000). Kindly advise whether my SIP choices are good. I am also investing in recurring deposit (Rs 8,000 monthly), post office scheme (Rs 10,000 monthly) and National Pension System (Rs 2,000). My target is Rs 80 lakh-Rs 1 crore in another 15-16 years.

A: These goals can be easily achieved with your investment in SIP. Your fund choices are very good and should continue with those. One side of your portfolio is well aggressive and on other hand, investments are extremely conservative by investing in recurring deposit, post office and NPS.

There is no point in investing in these options as returns are taxable as per slab. You can look to invest in balanced or balanced advantage fund or debt funds if you are looking for conservative allocations for that money. You can also look to invest that money in ICICI Pru Balanced Advantage Fund, ICICI Pru Hybrid Equity and Debt Fund or L&T Hybrid Equity Fund and for debt, Kotak Credit Risk Fund.

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Disclaimer: The views and investment tips expressed by investment experts on CNBCTV18.com are their own and not that of the website or its management. CNBCTV18.com advises users to check with certified experts before taking any investment decisions.

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