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Can I accumulate Rs 20 lakh in 15 years?

Dhirendra Kumar tells where to invest for a horizon of 15 years

I am investing in ICICI Focused Bluechip Equity and and HDFC ULIP. Will I be able to accumulate Rs 20 lakh in 15 years?
- Amit

ICICI Focused Bluechip Equity is a good largecap fund. I would need more details on ULIP. In ULIPs, a part of your money is used to provide insurance and the rest is invested. Because of this reason, you neither get a sufficient insurance and nor are able to invest objectively. For the given time frame, I would suggest you to invest in a multicap fund instead of a largecap fund. Fund managers in a multicap fund have the flexibility to invest in different sizes of companies. And instead of HDFC ULIP, you should first ascertain your insurance requirement and buy a pure term plan for that purpose. Just evaluate how much money would be needed by your family in your absence. It is easy to buy a term plan at a low cost. Look at it purely as a protection. Post that, put the money in any other multicap fund which you are currently investing in ULIP.

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