Mutual fund - Long term

Q & A Forum › Category: Insurance › Mutual fund – Long term

rajaraja asked 9 years ago

I am 45 years old and first timer in MF investments. My goal is long term wealth creation (>5 years). ICICI is recommending Elite Life Super for 5 lakhs / year for 7 years.. Is this really good policy to invest? Pls advise.

4 Answers

0 Vote Up Vote Down

Sreekanth Staff answered 9 years ago

Hi, Are you planning to invest in Mutual funds or in a Life insurance policy? Kindly note that ICICI Pru Elite life super is an Unit Linked life insurance plan.

rajaraja replied 9 years ago

I want to invest on Mutual funds only. Max 25000 per month. i am covered on term and endowment insurances. Pls suggest some good funds. Also hearing that market is at peak. if I enter now and if market falls, how can i recover? Should I put periodic funds to different MF’s or should enroll in SIP? SIP will be for a particular fund and hence if it performs badly, my money will be lost? So should i select a fund every month and invest or should fix selected funds and do SIP?

0 Vote Up Vote Down

Sreekanth Staff answered 9 years ago

Hi, Kindly do not try to TIME the markets, You may just start SIPs as discussed in the other Forum thread. Your money is lost only if you redeem, hence suggest you to hold on to your investments for long-term. Kindly note that there is no need to select funds on a monthly basis. You may just need to select 2-3 funds and set up monthly SIPs in them.

rajaraja replied 9 years ago

Thanks Sreekanth. Can you also pls recommend some 3-4 funds?

0 Vote Up Vote Down

Sreekanth Staff answered 9 years ago

Hi, You may consider funds like Franklin Prima plus / ICICI Valuediscovery, HDFC Balanced fund, & HDFC Mid-cap or Mirae Emerging funds etc., In case you do not like to take too much risk, you may allocate higher amount to balanced fund. Kindly read : https://www.relakhs.com/best-mutual-fund-schemes-2017/ https://www.relakhs.com/best-balanced-mutual-fund-schemes-review/

rajaraja replied 9 years ago

thanks sreekanth. I sincerely appreciate your responses.

0 Vote Up Vote Down

Sreekanth Staff answered 9 years ago

Hi, As your new question is related to 'MF portfolio', I have copy - pasted it as below (instead of posting it as a new forum question..) Sreekanth,
My goal is to create wealth and can invest around 50000 per month and stay put for long term - 5 - 10 years.
I am investing in HDFC balanced fund through SIP - 15000 per month as per your earlier advise.
Any advise if I can invest in IDFC equity fund? I want to invest around 15000 per month through SIP towards this fund.
Also pls recommend other funds.. I though I can split 50K into 4 parts.. 3 funds with 15K each & 1 fund with 5 K
My Answer : You may have a look at Franklin High growth companies (multi-cap), SBI Bluechip fund (large cap) & something like Mirae Emerging equity (mid-cap) funds.