Want to consolidate my inactive Mutual funds – Need advice

POSTED BY raju ON October 28, 2013 5:41 pm COMMENTS (5)

Hi All,

I am having following MF schemes in my profile.

  1. Canrobeco Eqty Tax saver:(not active Now.Stopped SIPs in Dec 2011)
  2. HDFC Tax saver:(not active Now.Stopped SIPs in Dec 2011)
  3. Sundaram Tax saver:(not active Now.Last invested in Aug-2009, ready to redeem after 3 year lock in)
  4. Rileance MIP,HDFC MIP, Reliance RSF balanced :(not active Now.Last invested in Aug-2012)
  5. IDFC SSIF – MTP – Regular A & Templeton (I) ST Income : :(not active Now.Last invested in OCT-2010)

Present SIPs running:

  1. HDFC Prudence —Want to stop this and looking for new..
  2. IDFC Premier Equity
  3. ICICI pru dynamic
  4. Quantum LT equity
  5. FT india bluchip
  6. Quantum Gold savings

Pls advice me ,what can I do with inactive MF schemes. should I just leave them as it is or redeem them all and invest in any other way? I want to consolidate MF schemes 5-6 plans and switch among them for better returns.

Let me know for your thoughts and questions.

Regards,

Raju

5 replies on this article “Want to consolidate my inactive Mutual funds – Need advice”

  1. ashalanshu says:

    Dear Raju, as the money is already in Eq. funds, i w’d prefer a lump sum investment.

    Thanks

    Ashal

  2. ashalanshu says:

    Dear Raju, 2-3 funds are more than enough for anybody to create wealth. Please do not go by my words and look at the holding of all your 6 active funds. Based upon the underlying stocks, judge yourself, are you really diversified or investing in common stocks with different %age holding in each of your MF? Why are you investing in Q gold saving fund?

    If the lock in period is not over, you can not do anything for tax saver MFs. You w’d have to wait till lock in is over. I w’d prefer the consolidation in following funds.

    Franklin India BCF
    Quantum LTEF

    Thanks

    Ashal

    1. raju says:

      Hi Ashal,
      Thanks for the advice. Qgold savings is to accumulate money for Jewelry purchase,whenever needed. Not really for investment.
      One final question. How should I redeem all inactive funds and reinvest in active funds to consolidate ? Lump sum investment or any other way to get better returns?

      thanks,
      Raju

  3. ashalanshu says:

    Dear Raju, why there are 6 active funds even today?

    Thanks

    Ashal

    1. raju says:

      Hi Ashal,

      I have mentioned current SIPs,which I want to continue except HDFC prudence,looking for alternate equity fund.
      Did I answer your question? when I started investing in MFs, i invested in some MIPs, Debt funds,tax savings funds initially. Now, I wanted to know what I should do with them,whether to continue as it is or redeem them and invest them any other funds or other way?

      so, I can monitor 5-6 schemes and switch among them depending on performance.

      I hope I have answered your question.

      Thanks,
      Raju

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