I would like to invest in a mutual fund for the short-term (less than one year). If I want around Rs. 3 lakh at the end of one year after investing, then per month how much should I invest and in which funds?
Considering a rate return of 6.29 per cent (Category average of Liquid Plus funds for the last 5 years), you need to invest Rs 24,160 per month to accumulate Rs 3 lakh at the end of one year.
Some short-term funds that can enable you to do so are JM Money Manager Super and Fortis Money Plus Reg.