Can you answer my queries as I want to start investing in mutual funds

Glad that you liked our website and found the mutual fund contents useful. Also, happy to note that you want to start investing in mutual funds. Here you go with the answers to your queries.

1. You can start SIPs both way, either through physical mode or Demat account. But in both the cases the debit will take place from your savings bank account. To start a SIP, demat account is not mandatory so you can just start by filling up the common application form and SIP application form and start your SIPs.

2. Yes, you can stop your SIP anytime by intimating the AMC. Normally AMCs take 3-4 weeks to process your request and thereafter the SIP stops. You can again start the SIPs in the same scheme and folio by submitting a new SIP AUTO DEBIT form.

3. Which is a best plan for retirement ? It depends on your risk taking ability and the investment horizon. If you can highest risk mid and small cap funds could be better. For lesser risk large cap funds can be suggested. You must assess how much risk you can take and then start the SIP.

4. Yes, you can invest in a single fund if the fund is good. For short term SIP of 2-3 years do not invest in equity funds. Debt funds would be ideal choice for 2-3 years investment.

5. There is risk when you are investing in mutual funds but the degree of risk depends upon the category of funds you are choosing. You may know the risk of a fund by looking at the Risk-O-Meter attached to it. Please check here https://www.advisorkhoj.com/mutual-funds...

6. ICICI Prudential Long Term Equity Fund is a good ELSS fund and you should continue investing in it. Please sign up with ICICI Prudential Mutual Fund by visiting their website https://www.icicipruamc.com/ and you can check your portfolio. Alternatively, you can download your statement from www.camsonline.com after signing up with them.

7. The best fund for long term investing (minimum 5 years) is of course equity funds.you may invest in diversified equity funds. Birla Sun Life Advantage Fund, SBI Magnum Multi-Cap Fund, Mirae Asset India Opportunities Fund and DSP BlackRock Opportunities Fund are some of the top performing funds in this category.

Hope we could answer all your queries and you found it useful. Wishing you great investing times with mutual funds.