I am currently investing Rs 2,000 in Magnum Taxgain, Rs 1,000 in Sundaram Select Midcap and Rs 1,000 in HDFC Top 200 through SIPs. I want to invest additional Rs 500 a month for the next 15 years for my six year old son’s future in an aggressive fund. Please advice?- Solanki S.K
Your current selection of funds make up for a well-diversified portfolio, however, you could have done better in selecting a tax planning fund. There are better options compared to Magnum Taxgain such as HDFC Taxsaver or Fidelity Tax Advantage that you should consider investing in. As for additional investment in a risky fund, you can consider investing in a multi cap fund such as HDFC Equity or Quantum Long Term Equity. Both these funds have a performance history and track record to invest in and though risky, are good options to compliment your existing fund holdings. Make sure you invest regularly and follow the progress of your investments at least once a year to make any necessary changes to the selected funds.