I want to invest Rs 5,000 every month through mutual fund SIPs for five years. Which funds should I invest in?
— JK Sinha
For a first time investor, we suggest you start with a balanced fund through a SIP such as HDFC Prudence or Reliance Regular Savings Balanced fund. Experience the investment and the performance of these funds over the next six months and then look at SIP investments in large cap funds such as Franklin India Bluechip or IDFC Imperial Equity Plan A for the long-term. Also, fix a financial goal or target that you wish to achieve with these investments. Track your investments at least once a year to as-certain its progress towards your goal. This way, you can also make any alterations to the find selection if need be.
This article was originally published on January 11, 2011.
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