I want to save Rs 10,000 every month for my 1-month-old daughter for the next 15 years. What debt-equity allocation should I follow and what funds to invest in, I am already invested in mutual funds for my future?
-Deepak Gupta
It is heartening to see a father take interest in investing for his daughter so early. Investing for the long-term is a good idea through mutual funds if done regularly. With the time frame that you have in mind, you can be an aggressive investor and consider an 80:20 equity-debt allocation. You can invest the Rs 10,000 you mention across 2-3 funds that have a large-cap and large- and mid-cap exposure such as HDFC Top 200 Growth, DSP Blackrock Top 100 Growth, IDFC Imperial Equity and Franklin India Bluechip. Opt for the growth option in these schemes. And make sure that you track the performance of these funds at least once a year and make any necessary changes to your holdings.
This article was originally published on December 17, 2010.
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