Have I selected good schemes for my SIP

Thanks for such a great portal. It's really very helpful for financial literacy. I have some query. My priority is for long term and "highest and moderate" risk mutual fund. I am doing SIP for the following MF - 1) DSP BlackRock Tax Saver Fund Direct Plan - Growth: INR 1000, 2) DSP BlackRock Micro Cap Fund Direct Plan - Growth: INR 2000, 3) Kotak Select Focus Fund - Direct Plan - Growth: INR 1000. And I want to invest 5 Lac lump sum (SWP) and want at least 7-10K per month income. Please advice - 1) My MF selection for SIP is good? 2) For SWP, which MF I should select to get 7-10,000 per month income?

Jun 6, 2017 by Yogesh Saroya, Jaipur | Mutual Fund

Thanks for the kind words. Glad to hear that you found our portal helpful for financial literacy.

Coming back to your query, We found that you have invested in very good funds from ELSS, midcap and diversified fund category, for your SIPs.

With regards to SWP, please note that drawing Rs 7-10,000 per month by investing only Rs 5 Lakhs is very high. During the initial 2-3 years, you should not draw more than 8-9% annually from your lump sum investments. Accordingly, you should not draw more than Rs 3,750 per month. You can consider investing Rs 5 Lakhs in balanced funds given your risk profile. you can choose any one fund from this selection - ICICI Prudential Balanced Fund or HDFC Balanced Fund or L&T India Prudence Fund.

Hope the above helps you! Thanks for writing to Advisorkhoj!!

View All Queries

You haven't found the answer for your queries? Do post your queries to us.
POST A QUERY