Can I invest in BOI AXA Tax Advantage Fund?

I would like to start with some diversified investments in mutual fund schemes. Can u suggest some schemes that will offer great returns? Also, is it the right time to invest in BOI AXA Tax advantage Scheme (Direct-growth)?

--Noopur Sharma

You should have realistic expectations from your mutual fund investments. If you are investing in equity mutual fund schemes to achieve your long-term goals, you may expect double-digit post-tax returns. However, do not expect superb returns of the last year in the coming year.

Here are our recommended equity mutual fund SIP portfolios: Best Mutual Funds to Invest in 2017

If you want to save taxes under Section 80C, you may consider investing in an Equity Linked Savings Scheme (ELSS). BOI AXA Tax Advantage Scheme is an average scheme. Its performance is very impressive in the last year.

Here are our recommended ELSS schemes: Best Tax Saving Mutual Funds or ELSS to Invest in 2017