Switch my money to other schemes – Need your suggestions

POSTED BY sunil.chitluri@gmail.com ON January 8, 2014 1:43 pm COMMENTS (6)

I have Around 1,40,000/- in SBI magnum tax gain scheme and 10,000/- in HDFC Tax Saver which are unlocked. Currently I have SIP of 2500/- monthly in SBI Emerging business fund. HDFC Top 200 Fund, HDFC Equity Fund and HDFC Mid Cap opportunities Fund.

I would like to Shift the amount that is available in SBI Magnum tax gain and HDFC Tax saver to some other schemes. Please suggest me to where to switch this amount. I can hold these amounts for long term i.e. more than 10 years.

6 replies on this article “Switch my money to other schemes – Need your suggestions”

  1. ashalanshu says:

    Dear Sunil, are you comfortable by keeping money in SBI Emerging Business? If yes is your answer, switch from Tax saver to EB.

    Thanks

    Ashal

  2. sunil.chitluri@gmail.com says:

    Thank you for your reply Ashalanshu.

    Looking at the performance of SBI tax saver, I feel keeping huge money in that product is not a correct choice as anyway the Risk is same. So am looking for the schemes whare I can get higher returns in long term.
    Please advise.

  3. sunil.chitluri@gmail.com says:

    Thank you for your suggestions CS.

    I already have SIP in SBI Emerging business fund. HDFC Top 200 Fund, HDFC Equity Fund and HDFC Mid Cap opportunities Fund.

    Do you still want me to switch from tax savers to these funds? Please advise.

  4. ashalanshu says:

    Dear Sunil, why do you want to come out now if there is no goal moment nearby?

    thanks

    Ashal

  5. rajkanwar321 says:

    Just my personal choice. Since I have invested in the same company.

    Birla Sun Life ‘95 Fund
    http://mutualfund.birlasunlife.com/Pages/Individual/Our-Solutions/WealthCreation-Funddetails.aspx?SchemeShortName=BSL%2095%20Fund&Highlighted=Yes

    Birla Sun Life Top 100 Fund
    http://mutualfund.birlasunlife.com/Pages/Individual/Our-Solutions/WealthCreation-Funddetails.aspx?SchemeShortName=BSL%20Top%20100%20Fund&Highlighted=Yes

    Both are good plans to switch. Links are just for your easy reference. Consult with a financial advisor before making a decision.

  6. CS says:

    If I am in your position, what I will do is move/invest the funds to liquid funds (as long as the funds are surplus for now) and do STP (systematic transfer plan; similar to SIP) to below funds: (Most of the liquid/short term funds comes with 0% exit load or few days/months to avoid exit load)

    If you are moderate risk taker: (moderate returns)
    ICICI Pru focused blue chip fund (Large cap)
    UTI Opportunities fund (Large cap)
    HDFC Balanced fund (Balanced)
    ICICI Balanced fund (balanced)

    If you are high risk taker: (high returns)
    SBI magnum emerging fund (Mid-cap and small-cap)
    IDFC Premier equity fund (Mid-cap and small-cap)
    HDFC midcap opportunities fund (Mid-cap and small-cap)
    Reliance equity opportunities fund (Diversified)

    if you are very high risk taker: (very high returs)
    Reliance Pharma Fund (Pharma)
    SBI Magnum FMCG fund (FMCG)

    I have suggested 2 schemes on each category. Choose one or two depending upon your capability.

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