I am working in a state government department. I have a daughter, who is 14 years old. I want to invest ₹5,000 in a month in a mutual fund which can give a decent growth over a period of 10 years. Kindly advice in which MF shall I invest?
- Manjeet Singh Randhawa
If you are a first-time investor to the stock market, you can consider investing in a top-rated balanced schemes through a monthly Systematic Investment Plan (SIP). These schemes invest in a mix of equity and debt and they are suited for novices to the stock market. They are less volatile than pure equity schemes because of their investment allocation and help investors to grow money without much volatility.
Here is a list of best balanced schemes.
This article was originally published on November 25, 2015.