I am 62 and living a retired life. I wish to invest about Rs 1 lakh with the idea of capital appreciation over the next 3 years. What fund can I invest in?
- Manoj Gadgil
It is heartening to observe someone at your age still interested in investing in mutual funds. If capital appreciation is what you seek for the time frame that you have in mind, opt for a few good equity-oriented hybrid funds.
These funds maintain a 60:40 equity:debt allocation, with the equity allocation providing the capital appreciation with the bond allocation ensuring overall portfolio stability if equities do not fare well. You can consider investing in HDFC Prudence or Reliance Regular Savings Balanced fund that are among the best performing funds in this category.