I want to invest Rs 10,000 per month for my daughter

I am 31 years old. I have SIPs of Rs 10,000 per month in following mutual fund schemes:

ICICI Prudential Focused Blue Chip Fund: Rs 2,000
HDFC Top 200 Fund: Rs 1,500
Franklin India Bluechip Fund: Rs 1,500
Franklin India Taxshield: Rs 1,500
Reliance Tax Saver Fund: Rs 1,500
IDFC Premier Equity Fund: Rs 2,000
I have chosen growth option for all these schemes.

I want to invest Rs 10,000 in SIP for 20 years with an aggressive/high risk-taking appetite for my new born daughter.

ADVERTISEMENT

Kindly review my existing MF portfolio. Further I want to stop/exit from Reliance Tax Saver and Franklin Tax saver scheme as I have taken a home loan which is sufficient for tax saving.

--Rajnish Chopda

IDFC Premier Equity Fund has been struggling for a while now. It has lagged behind its category in both short and medium term. You may consider exiting it.

Franklin India Bluechip Fund has underperformed its benchmark and category in the last one year. You should put the scheme on the watch list. HDFC Top 200 has done well in the last year, but you should keep a close watch on the scheme.

You can stop further investments in tax saving schemes as you don't need them anymore for savings taxes under Section 80C. However, you can continue to stay invested in these schemes if you don't need the money.

Here is a link to our recommended SIP equity mutual fund portfolios. You can choose a portfolio based on your risk profile to invest for your daughter.

(If you have any mutual fund queries, message ET Mutual Funds on Facebook. We will get it answered by our panel of experts.)