I am 25 years old with a monthly income of Rs 10,000 and interested in investing in mutual funds, but don’t have no knowledge in investing. Please help me with a start.
- Prafulla Nayak
Your enthusiasm to start investing in mutual funds will take you a long way. The way to long-term wealth creation is to invest regularly in equity as an asset class through mutual funds. You should consider the systematic investment plan (SIP) option to invest in mutual funds.
For a new investor it will be a good idea to start with a SIP in a balanced fund. Once you experience this investing over the next six months you will understand the way investing works and then move into a large-cap fund and build a portfolio from there on. You can consider investing in HDFC Prudence or Reliance Regular Savings Balanced Fund. Both are highly rated funds with a proven track record and performance history to invest in.
This article was originally published on May 12, 2011.
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