Retired Senior Citizen. Already made investment in SCSS of SBI, SBI DAF Series XVIII, LIC's Jeevan Akshay, HDFC Prudence Fund(D) & HDFC Balanced Fund(G) in lump sum. Continuing with monthly SIP's in Equity Mutual Funds. Please advise where to park some funds as well as the name of some well managed and rewarding Balanced and ELSS Funds?
You have invested almost in all schemes meant for retirees. Good that you have also invested in balanced funds and continuing with mutual fund SIPs.
If you want to park some funds temporarily, then you can invest in liquid funds. Liquid funds give you better return than bank savings account and provides you redemption within 24 hours. You can choose a top performing liquid fund from here anchor - Top consistent liquid funds
With regards to investment in balanced funds, you are already invested in two good balanced funds and you can add any one or two from this list - ICICI Prudential Balanced Fund, SBI Magnum Balanced Fund, DSP BlackRock Balanced Fund and L&T India Prudence Fund. If you need regular return from your balanced fund investments, you can consider investing in the dividend pay-out option of these funds.
Some top performing ELSS funds that you can consider investing in are, - DSP BlackRock Tax Saver Fund, Reliance Tax Saver Fund, ICICI Prudential Long Term Fund and Mirae Asset Tax Saver Fund.
Hope the above answers your query in full. Thanks for writing to Advisorkhoj.
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