Can I invest in Mirae Asset Emerging Bluechip Fund for kid’s education?

I have been investing through SIP of Rs 10,000 monthly in Mirae Asset Emerging blue chip fund for 2.6 years. I want to invest for at least 15 years for my kid’s education and marriage. My kid is 10 months old. Kindly advise me if I have chosen the right fund for my goal?
–Yashwanth Kumar


Rushabh Desai, Founder, Rupee With Rushabh Investment Services, responds:

You have invested in a large & mid cap fund through which you shall get exposure to both large and mid cap companies. The fund is managed and backed by a highly experienced fund manager and its team. On a 5-year rolling return basis since the fund's inception, the fund has shown strong and consistent outperformance against Nifty Large & Mid Cap 250 Index.


In my view you have invested in the right fund for your goal. I strongly recommend you to continue to invest in this fund. You are invested in only one fund and thus you can think of adding in one or two more funds as back up from a diversification point of view if you like just in case your current fund doesn’t perform well in the future. For this you can look at venturing in the same category or look at the flexi cap category.

Your current fund should do the job in helping you generate returns for your goal. As you have not mentioned the goal amount, you need to check if your current SIP investments are enough to achieve your goal, especially after factoring inflation. Also, you may want to increase your SIP amount every year.