Ask ET Mutual Funds: Which mutual fund scheme is suitable for me?

I am 21 years old. I want to start an SIP of Rs 1,000 per month for investment of more than three to five years. Which mutual fund scheme will be suitable for me?
-- Aditya Dabhekar

Gulam Rasul, a mutual fund advisor, responds:

As you are only 21 years old, you should invest for long term, say, seven to 10 years. There is no lock-in period in mutual funds and you can withdraw the invested amount anytime you want in case of an emergency. In your age, you should select a multicap mutual fund scheme for Systematic Investment Plan (SIP). Multicap schemes are a mix of largecap, midcap and smallcap. You can start an SIP in either of:

1. Franklin India Prima Plus Fund
2. ICICI Prudential Value Discovery Fund


In case, you decide to invest for seven to 10 years in an aggressive mutual fund scheme, you can opt for the following midcap schemes:

1. HDFC Mid-Cap Opportunities Fund
2. Kotak Emerging Equity Scheme

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