Which is the best mutual fund to invest now

I am 23 years old and I am student. I have savings of around 2000 monthly and want to invest in mutual funds for >10 years horizon. I am moderate risk taker. I want to invest in SIP monthly in balanced funds direct growth of HDFC Balance Fund (Rs 1000) and L&T Prudence (Rs 500) monthly. For Rs 500 I want to invest in Kotak Select Focus or Birla Sun Life Advantage Growth. Is it advisable to invest in ICICI Prudential Value Discovery Fund. Due to reduced returns in last 3 years I have opted for Kotak and Birla Sun Life. Please provide any advice on the investment?

Aug 14, 2017 by Akash, Hyderabad | Mutual Fund

Glad to hear that you want to start investing in mutual funds from a very young age.

Your fund selection is more or less good. But our suggestion would be to invest in HDFC Balanced Fund in place of HDFC Prudence Fund.

Kotak Select Focus Fund is a large cap fund whereas Birla Sun Life Advantage Fund is a diversified equity fund. As both are top performing funds, you can invest in any one fund.

As a moderate risk taker, you have selected the balanced funds rightly. But note that large cap funds and diversified equity funds are meant for moderately high to high risk profile investors.

In future, you can refer this research tool on our website for selecting top funds - https://www.advisorkhoj.com/mutual-funds...

Wishing you long term investing success.

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