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, Sharad Singh, chief executive officer and founder, Invezta.com, on our show Mutual Fund Corner.
Q: 23-year-old Raunak Rajpal writes us from Mumbai. I am facing a big dilemma whether to go for a Public Provident Fund (PPF) account or an ELSS (Equity Linked Savings Schemes) fund or both.
The only thing stopping me from investing in ELSS is the 10 percent LTCG (Long-Term Capital Gains) tax. Requesting for help in this matter. Also, please suggest the best ELSS funds for an investment horizon of 15 years.
A: Think of your financial goals and allocate money accordingly. Diversify into more than one fund. Around 3-5 funds are ideal depending on goals/use cases. Try SBI BlueChip, Birla Frontline Equity in large cap; Franklin Prima, L&T Midcap in mid/small caps and Mirae Asset Emerging BlueChip, Motilal Multicap 35 fund in multicaps.
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