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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.
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: 28-year-old Raunak Surana writes to us from Rajasthan. I started investing in mutual funds since January 2018. I am currently investing Rs 20,000 per month as SIP in mutual funds linked with my goals. Please suggest me about my portfolio, are these funds good, do they need any change either in specific fund or amount of SIP pertaining to my goals.
My portfolio is:
1. For child's education - Rs 1 crore in 20 years
Funds are -
a. ICICI Bluechip: Rs 5,000 per month
b. ABSL Focussed Equity: Rs 2,500 per month
c. ABSL Tax RLF 96: Rs 2,500 per month
2. For child's marriage - Rs 1 crore in 27 years
Funds are -
a. HDFC Midcap Opp: Rs 2,500 per month
b. PPFAS Long Term Equity: Rs 1,500 per month
3. For my retirement - Rs 4 crore in 32 years
Funds are -
a. Mirae EMG Bluechip: Rs 2,500 per month
b. Axis Multicap: Rs 2,500 per month
c. Tata Consumer: Rs 1,000 per month
All funds are growth option and direct plan. I have a term plan of Rs 1.5 crore from Max Life and health insurance from Max Bupa (floater).
A: You can continue with your term and health plans.
Child’s education – Rs 1 crore in 20 years
Instead of ABSL Focused Equity, we would suggest you to invest in SBI Focused Equity Fund.
Child’s marriage – Rs 1 crore in 27 years
Retirement – Rs 4 crore in 32 years
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