I have gone through a kidney transplant in 1999. I want to invest in mutual funds now for wealth creation for my family over the next five to 10 years. Please suggest the best mutual funds and the strategy to be followed. I would like to opt for personal advisory services if you provide it for individual investor. Please reply.
- P D Karan
You haven't mentioned any personal details, so we can only offer you a general advice. To begin with, you can consider investing in equity mutual funds to create wealth if you have an investment horizon of at least five to seven years. If you are still working and earning a regular salary, you can start a Systematic Investment Plan (SIP) and invest in one or two equity mutual funds. If you are retired and have a corpus to invest, you can consider a SIP or Systematic Transfer Plan (STP). You can keep the money in your bank account and start a SIP in a mutual fund scheme. However, to start an STP, you should park your corpus in a liquid fund and transfer a fixed amount every month into a equity mutual fund scheme.
If you are new comer to the stock market, invest in one or two balanced schemes to create wealth over a long period. These schemes invest in a combination of debt and equity (at least 65 per cent) and they help novices to build wealth over a long period without facing huge volatility.
Here is a list of best balanced schemes.
This article was originally published on November 06, 2015.
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