I am new to mutual fund investments. I want to have a corpus of Rs 1 crore when I am 52; I am 35 now. How much should I invest through monthly SIPs to achieve this goal, I have Rs 20 lakh saving currently.
You have 17 years to achieve your goal and already have Rs 20 lakh in savings and need Rs 80 lakh in this time frame. If the SIP investments earn an annualised 12 per cent return you will need to invest Rs 12,000 each month or Rs 10,700 if the investment earns 15 per cent returns. You should invest in a portfolio of large-cap funds such as ICICI Prudential Focused Bluechip Equity or Franklin India Bluechip which are highly rated funds with a proven track record and performance history or large- and mid-cap funds such as HDFC Top 200 or UTI Dividend Yield fund and track the performance of these investments at least once a year to assess its progress towards your financial goal.