|Author: Mahesh 22 Jun 2016 Member Level: Gold Points : 3 (Rs 3) Voting Score: 0|
Don't pick any random fund and fund house. Also avoid taking the advice of banks and the mutual fund agents. They are going to take advantage of your lack of knowledge. They may sell you some bad financial products.
Here's short process for the selection of mutual fund.
1. Go to https://www.valueresearchonline.com/
2. Go to fund selector tools.
3. Choose equity or balanced depending on your needs.
4. Exclude the following - suspended plan, close ended plans, direct plans.
5. Uncheck 3,2 and 1 start funds.
After you make steps, you can get the data on the funds. You will get the list of funds form this option. And you can then decide which fund suits your risk appetite. For simplicity choose the funds with 5 star performance.
Choose from the top 10 funds. And then decide which fund good for the lumpsum. Go with the direct plan on their official site.
|Author: Partha Kansabanik 22 Jun 2016 Member Level: Diamond Points : 2 (Rs 2) Voting Score: 0|
Mr. Patra, if you are a moderate risk-taker and you don't need the invested amount for five years, I would suggest you to invest the amount in a good balanced fund and in a good MIP fund for a period of five years in a 50:50 ratio. The lists of good mutual funds (category-wise) is available at www. valueresearchonline.com or www.morningstar.in. I would also suggest you not to wait for more opportune time. Invest the amount right now.
The aforementioned plan would also be tax-friendly.