Which are the good funds to do STP from liquid to equity funds

I am 60 year old settled in Hyderabad. My son from us has sent me an amount of Rs. 40 lakhs for investment. He is 34 years and the investment is for his future needs. The investment horizon is 5 to 7 years. I intend to invest the amount in lump sum in 4 or 5 debt or liquid funds and invest in a staggered manner in equity funds by STP. Kindly suggest good performing mutual funds?

Jul 4, 2017 by YVA Prabhakar, Hyderabad | Mutual Fund

While it is a good idea to invest through STP from liquid to equity funds etc., one should be careful while selecting the destination fund, i.e. the fund to which the amount is being transferred from liquid / ultra short term fund. Selection of this fund should be based on ones risk taking appetite and the investment horizon.

While you have indicated the invested horizon you have not mentioned the risk that your son can take. Therefore, based on the investment horizon of 5-7 years, we can suggest below funds from balanced and equity fund categories.

Balanced Funds

ICICI Prudential Liquid Fund to ICICI Prudential Balanced Fund

SBI Magnum Insta Cash Fund to SBI Magnum Balanced Fund

HDFC Cash Management Fund to HDFC Balanced Fund

Diversified Equity Funds

Birla Sun Life Cash Plus to Birla Sun Life Advantage Fund

SBI Magnum Insta Cash Fund to SBI Magnum Multi-Cap Fund

Mirae Asset Cash Management Fund to Mirae Asset India Opportunities Fund

Large Cap Funds

SBI Magnum Insta Cash Fund to SBI Blue Chip Fund

Birla Sun Life Cash Plus to Birla Sun Life Frontline Equity Fund

Mid & Small Cap Funds