I need to have a savings of at least Rs 30 lakh in ten years. What funds can I invest in which will help me build this corpus? I am already investing Rs 1,000 every month in HDFC Top 200? - Faheem
Having investment goals helps in arriving at quantum of investments that one needs to make every month to achieve the goal. For instance if your investments earn 12 per cent annualized returns you will need Rs 12,950 to invest every month to accumulate Rs 30 lakh in ten years, alternately, if the investment earns and annualised 15 per cent return, you will need Rs 10,770 monthly investments to achieve the same goal.
Your goal can be achieved through systematic and regular investments in mutual funds in a portfolio of funds that include large-cap funds such as Franklin India Bluechip or ICICI Prudential Focused Bluechip, and Equity and large- and mid-cap funds such as Fidelity Equity Fund and HDFC Top 200 in which you are already investing. Make sure you invest regularly in these types of funds and assess its progress towards your financial goal.