I am 23 and do not have any dependents. I want to start a monthly SIP for Rs 10,000 and can take high risks. Please suggest a few funds that I can start investing in. I am currently investing in SBI Magnum Emerging Business fund with Rs 1,000 monthly SIP for the past two months.
Do a systematic investment plan (SIP) into the suggested funds. The amounts can be Rs 2,500 each into the mid- and small-cap funds. DSPBR World Mining Fund invests in mining stocks across the globe. It will give an international flavour to your portfolio and exposure to types of stocks that you would never get in a pure domestic portfolio. Limit your SIP to Rs 1,000. ICICI Prudential Discovery is a value fund while HDFC Equity is a multi-cap one. Invest Rs 2,000 in each. This will give you a very diversified portfolio across fund houses and investment styles and mandates.