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It helps to have a financial goal when investing

I am currently investing in Reliance growth (G) with a monthly SIP of Rs 2,000. I want to shift from this fund and want to start another SIP plan of Rs 1,000. Kindly advise which fund should replace reliance growth fund and a new fund to invest monthly a Rs 1,000.
- Avishek Takhi

It will be a good idea if you have a plan when getting into investing in mutual funds. Reliance Growth is a mid- and small-cap fund and is 4-star rated fund by us. It is a good fund in the long run. However, you should be aware of the risks posed by a mid- and small-cap fund. These funds need frequent evaluation for one to make any investment alterations. If you are looking for a similar fund, you can consider from DSPBR Micro Cap, HDFC Mid-cap Opportunities, ICICI Prudential Discovery or IDFC Premier Equity Plan A. All are 5-star rated funds with proven track record and performance history.

You can make additional investments in your existing portfolio of funds for the additional SIP that you plan.

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