Want to invest in mutual funds but don’t know how to go about it?
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Get all your mutual fund related queries answered by our expert, Anand Dalmia, chief business officer, Fisdom, on our show Mutual Fund Corner.
Q: 32-year-old Alpesh Kantharia writes us from Mumbai. Invested Rs 1,000 in Axis Long Term Equity Fund (ELSS), Rs 3,000 in Reliance Tax Saver Fund (ELSS), Rs 1,000 in Mirae Asset Emerging BlueChip Fund and Rs 5,000 in HDFC Midcap Opportunities Fund via SIP. Please give comments on my portfolio allocation.
ELSS mutual fund has completed four years of investment. I am more concerned about Reliance ELSS. Should I continue with it or exit since its performance past one year is very bad. Also, let me know whether other funds in my portfolio is good. My horizon is of 15 to 20 years. I have kept HDFC MidCap Opportunities Fund separately only for my daughter's higher education after 15 years.
My other goals are daughter’s marriage after 23 years, corpus required is 30 lakh, retirement after 25 years and corpus required is Rs 4 crore. I will be increasing my SIP in future. Suggest in what proportion I should increase in above mentioned funds or any new fund to achieve my goals. Please suggest/comment if any changes to be made to my portfolio.
A: Generally, we don’t recommend customers to look at one-year returns, but Reliance Tax Saver has significantly under-performed its peers in the last few years. Within your portfolio, suggest you can switch out of Reliance Tax Saver into a better ELSS fund from houses like ICICI Pru, Birla, L&T and IDFC.
Also, for your goals, you must try target at least Rs 25,000 as a monthly SIP. Don’t worry if you can’t do it now, just ensure you add more and step up your SIP as and when you can. You must try exhausting your 80C deductible limit of Rs 1.5 lakh by increasing your SIP in ELSS funds. The rest, can be invested into good multicap fund.
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