As I want to start mutual fund SIPs have I selected right funds

I want to start SIP for a time horizon of 5 years from January, 2018 on the following funds as under. I am a moderate risk taker and 52 years old. 1. HDFC Balance Fund (Growth) - Rs. 10000 per month, 2. SBI Blue Chip Fund (Growth) - Rs. 15000 per month, 3. SBI Magnum Multicap (Growth) Fund - Rs. 15000 month. Already, I have invested lump sum 20 lakh each of the following two funds - 1. SBI Magnum Regular Plan - Growth, 2. ICICI Prudential Balance Fund - Direct Plan - Growth. Kindly advise me?

Jul 11, 2017 by Nirmalendu Prakash Ray, India  |   Mutual Fund

Your selection of HDFC Balanced Fund, SBI Bluechip Fund and SBI Magnum Multi-Cap Fund for starting SIPs for 5 year period is quite good. The selection is a right fit to your risk profile as well which is Moderate.

The investment of lump sum amount in ICICI Prudential Balanced Fund is good. However, you have not mentioned the full name of the SBI mutual Fund scheme name therefore, we are unable to comment on that.

Thanks for writing to Advisorkhoj.

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