I would like to invest Rs 1 lakh for the long term of 5 to 10 years. Please suggest mutual funds.
- Padam
Ideally, you should invest regularly through systematic investment plans than lump sum investments. By investing a fixed amount at predetermined intervals, the trouble of figuring the best time to invest is eliminated, which offers an efficient way to ride market volatility. For a 5-10-year time frame, consider large-cap funds such as Franklin India Bluechip or IDFC Imperial Equity or invest in large- and mid-cap funds such as Birla Sun Life Frontline Equity or HDFC Top 200. They are all 5-star rated with a proven track record. A combination of these two categories of funds is also an option worth considering. Make sure to track the progress on your investments to evaluate their performance at least once a year and alter the fund selection if need be.
This article was originally published on March 29, 2011.
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