Have I selected the right schemes?

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I am 29 years old and I am planning to invest in mutual funds for the first time. I plan to invest Rs 6,000 per month in equity mutual fund schemes for at least 10 years. I want at least 15 per cent returns from these investments. I have shortlisted some schemes under different categories.

Tax-saving schemes: Rs 2,000
1. Motilal Oswal Long Term Equity Fund - Direct (G)
2. IDBI Equity Advantage Fund - Direct (G)

Largecap schemes: Rs 2,000
1. Kotak Select Focus Fund - Direct (G)
2. Invesco India Growth Fund - Direct (G)

Mid and smallcap schemes: Rs 1,000
1. Mirae Asset Emerging Bluechip Fund - Direct
2. SBI Small & Midcap Fund - Direct
3. IDBI Equity Advantage Fund - Direct (G)

Infrastructure/balanced schemes: Rs 1,000
1. BOI AXA Manufacturing & Infrastructure Fund - Direct
2. L&T Infrastructure Fund - Direct (G)

Do you think these schemes are good? If you think there are better alternatives to the schemes I have chosen, please suggest them.
-- Khushboo Dash


Puneet Oberoi, Founder, Excellent Investment Advisors, responds:

Here are my recommendations for you.
ELSS
If you want to invest in tax-saving schemes, or ELSSs, you can choose from these schemes listed below. ELSSs will help you save taxes up to Rs 1.5 lakh under Section 80C of the Income Tax Act.

1. IDFC Tax advantage Fund
2. Franklin India Taxshield Fund
3. Sundaram Diversified Equity Fund (Earlier known as Sundram Tax Saver Fund)

Largecap schemes
Largecap schemes are equity schemes that invests in stocks of companies with a large market capitalisation.
1. ICICI Prudential Focused Bluechip Equity Fund
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2. Birla Sun Life Frontline Equity Fund

Multicap schemes
Multicap schemes invests across market capitalisations. That means, these schemes will invest in largecap, smallcap and midcap stocks.
1. Motilal Oswal Multicap 35 Fund
2. IDFC Focused Equity Fund

Midcap schemes
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Midcap schemes are highly risky compared to largecap or multicap schemes. You should invest in these schemes only if you have a high risk appetite. These funds will provide higher returns over a long period.
1. Mirae Asset Emerging Bluechip Fund
2. L&T Emerging Businesses Fund
3. Franklin India Smaller Companies Fund
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Smallcap schemes
Smallcap schemes are very risky compared to other equity mutual fund schemes. Make sure that you invest in these schemes only if you have a high risk appetite. They can provide high returns over a long period.
1. HDFC Small Cap Fund

I would not recommend a thematic or sectoral funds to new investors. Since these type of schemes focus on a particular sector or theme such as infrastructure or banking, they are considered highly risky.

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