MY parents want me to do thier financial planning; especially their retirement planning, they have almost 8-10 years in their hand; We have decided that Equity:Debt raito would be 60:40,
for debt part:- GPF+PPF+NPS(they are government employee so it is mandatory for them)
for equity:- My age is 23 and i dont consider myself an expert stock picker so I should go for mutual funds; I have some views on MFs (I dont know whether they are right or not):-
1. they must have 8-10 years track record
2. they should have performed well in bear cycle( loss of capital should be less than benchmark index)
3. they must beat Index by 5% in long run (means more than 5yrs in this context)
I have selected following funds:-(ALL SIP investments)
1. frankalin india bluechip – Rs. 2500
2. hdfc top 200 – Rs. 2500
3. fidelity equity – Rs. 2000
4. dsp br equity – Rs. 2000
5. sundaram select midcap – Rs.1500
6. birla sunlife dividend yeild plus – Rs.1500
I am confused regarding diversification in style of investing, and no of funds..please comment on this portfolio..I am waiting for ur valuable suggestions..