POSTED BY May 10, 2013 4:10 pm COMMENTS (3)
ONHi,
My name is Saurabh Singhal i am working in MNC company and my age is 23 yrs. My Monthly hand on salary is 20000. I had already invested (1000rs) in UTI mutual fund (UTI Oppurtinities Fund-Growth Plan). Also I have taken a LIC (Jeevan Anand Plan) of 3 lacs. I have also a term insurance of Rs 20 lacs. My current saving in bank is approximately 50,000. I am also investing regulary Rs 1000 in my PPF account.
Now from onwards, i want to invest 2000 Rs as a sip for a long period. Could you please help me find a suitable fund for me. My personal choices are:
SBI Emerging
ICICI Discovery
HDFC Prudence Growth
Please suggest.
Thanks,
Saurabh
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among the three, go for ICICI Pru Discovery.
Dear Saurabh, do you really need term cover at this age? Why are you investing on mly basis into PF & not lump sum say 10 or 15K?
Please clarify.
thanks
Ashal
The first question to ask yourself is:
Why are you investing?
When do you need the money?
What are your return expectations.
MF choices is secondary.
Because: For period of 10 years above, ANY large cap fund has given returns well above average inflation. Which is the central reason for investing in equities.