To meet my long term goals, I have started in 2009 a portfolio of diversified equity funds via SIP with a timeline of next 15 -17 yrs., my current accumulation in this portfolio is around 45 lakhs
I’ll get an extra amount of 25 lakhs in 2nd week of June and since I’d like to use most of this money for longer term purpose, I’m writing to you to seek your advice regarding how and where in India I should invest:
• 5 lakhs in NRE FD for 391 days
• 5 lakhs – Please suggest a good mutual fund (Income / FMP / Balanced) for a period of 4 yrs. – I’m already investing in HDFC Prudence since Mar 2010 via SIP, shall I create a STP to invest this additional 5 lakhs in next 6 months or 1 year instead of buying a new fund?
• Shall I create a STP to invest additional 15 lakhs in next 6 months or 1 year (which timeframe would be better) in 4 debt funds from HDFC, Reliance, DSP BR, BSL, and HDFC to put into HDFC Top 200 G, Reliance Growth G, DSP Blackrock Top 100 – G, Birla Sun Life Frontline Equity – G respectively which I have in my current portfolio? Please suggest good debt funds from these fund houses for creating STP.
The reason I want to put in this extra money is because since the current negative market sentiment is likely to stay for some time to come, may be it offers a good opportunity to buy more at less cost; and, by putting additional 15 lakhs in a year I may be able to bring down the original SIP timeframe of 15-17 yrs. by 3 – 4 yrs.
Thank you for your time.
Kind regards,
Bala