I have received a lump sum of Rs 3 lakh from my grandfather as gift. I would like to invest this amount into mutual funds. What would be the right fund to invest right now and what should be the mode of investment?- Adhiraj Lahiri
Your determination to invest the gift will help you increase your personal wealth in time. We recommend you invest the lump sum in HDFC Cash Mgmt Treasury Advantage or the HDFC Floating Rate Income Short-Term Retail Plan, which are ultra short-term debt funds and initiate 8-12 month systematic transfer plan (STP) in a balanced fund such as HDFC Balanced or HDFC Prudence. Invest regularly and track the performance of the funds that you have invested to assess its progress towards your financial goals.