I am 31 and want to invest Rs 10,000 every month in SIP for my daughter for the long term of 18-20 years. Please suggest some funds to invest in.
- Chandi Agarwal
It is a good move to start saving from now on for your daughter’s future financial needs. As you have the next 18-20 year time horizon in mind, the best way to do that is to invest regularly in mutual funds through systematic investment plans.
If you are new to investing, start investing in a balanced fund to experience mutual fund investing for the first six months. Once you understand the benefits of investing in mutual funds, you can start investing in a large cap fund such as Franklin India Bluechip or IDFC Imperial Equity or large- and mid-cap funds such as HDFC Top 200 or BSL Frontline Equity for the long term. All these funds have a proven track record and performance history to invest in, do make sure to track the performance of your investments at least once a year to build a sizeable corpus for your daughter.