Have been investing 10 K in MFs every month from May 08 onwards through a SIP. Details of MF as given below.
Birla MidCap, DSP-ML Oppor Fund, HSBC Eq Fund, Reliance Vision Fund - Growth Plan, Standard Chartered Premier Eq Fund
I am looking to build capital over 3-5 year term. Should I continue with the current ones or should I switch to some other MF. Kindly suggest alternate MFs.
judge,evaluate and continue on your own
Pl. continue with the current MF scheme at least for 15 months which will accumulate sizable no. of units.
The best performing alternative MFs are-
Since you are worried about returns than the type of Investment. I would suggest suggest you to go for Mutual Funds-Equity Linked Tax Savings Scheme(ELSS)-Lock in Period of 3 yrs as compared to PPF -15 yrs or Postal investment-6 yrs.In ELSS you will earn around 75% post 3 years of investemnt.Pl. go for SBI M agnum Tax Gain Scheme 1993 only as it is the only best performing fund in this category till now. #The rule of new economy is to spend money, even if u create debt by borrowing money i.e. loan it will help you to waive taxes creating a good debt. You correctly pointed your concern to minimize the same , you need to Invest money in such Tax SOP's which will give you incentives or dividends regularly with Minimum Lock In period to earn more Interest. To help you further if you are the Long Term Investor at least for 5 ...more