I am an engineering student and I want to invest Rs 250 every month in a diversified equity mutual fund through the SIP for 3 years. Please suggest which the right mutual fund for me and also how to start investing?
- Nimesh Damani
Tiny drops make an ocean and small savings over long periods aided with the power of compounding build wealth. You are making a good start investing in mutual funds through SIPs. You don't need a demat account to get started investing in mutual funds. You can get started with your SIP by directly investing with the mutual fund house or use third-party websites that allow you to do the same. Start with a large-cap fund, and stay put in it for a few years to experience the way your investment fares before increasing your contribution or looking for other investments. You can consider DSPBR Top 100 or IDFC Premier Equity amongst large-cap funds to get started.
This article was originally published on December 02, 2010.
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