Please tell me which are best mutual funds for 5-10yrs plan.
I have demat account in HDFC, they have recommended following funds,
Reliance banking fund
ICICI Pru bkg & Fin Ser
Reliance Small cap fund
Mirae Emerging Bluechip fund
L&T infrastructure
I want to invest 2000-3000 monthly. Also I should be able to withdraw amount at any time of year.
Bank is asking for lock in period of say 3, 5 or 10 years - Should I go for lock in period.
Please guide me or tell me which are other mutual funds better for long-term period.
4 Answers
Hi,
Your banker has suggested 3 Sector oriented funds, which can be very risky.
You can redeem mutual fund units anytime of the year, but do you require to redeem this money in short term? (or) will you be able to hold on to these investments for long term??
There is no such lock-in period in normal Equity funds.(or) Are you referring to SIP period?
Looks like they are mis-guiding you.
Suggested readings :
https://www.relakhs.com/best-mutual-fund-schemes-2017/
https://www.relakhs.com/best-mutual-fund-scheme-risk-ratios/
https://www.relakhs.com/best-balanced-mutual-fund-schemes-review/
Hi,
If your time-frame is around 5 years, you may consider investing in Equity oriented balanced funds. Ex : HDFC Balanced fund.
For time frame of around 10 years, you may consider one mid-cap fund either Mirae Emerging or HDFC Midcap and one Diversified equity fund.
You may kindly go through the above suggested articles.
These days, there are several reputed mutual fund providers. You may select SIP investment plan by any of these firms and safely earn better returns on the money you invest. If i have to suggest better investment plan for long-term period i would recommend Kotak Mutual Funds SIP Plans.
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