I want to invest Rs 5,000 per month for 10 years

I want to invest Rs 5,000 per month for five years in an ELSS fund. I am 46-years-old. Please suggest a scheme. Also, please suggest another good equity scheme. I want to invest Rs 5,000 for 10 years.
--Sachin Chitnis

Shifali Satsangee, Founder, Fund Ve’daa, responds:

As far as the ELSS category is concerned, you could choose between DSP BlackRock Tax Saver Fund and Axis Long Term Equity Fund. We would like to iterate that wealth creation happens best when we have a longer time horizon in place. For most effective returns and alpha creation, the minimum ideal time horizon for SIPs is ten years, since the money would be invested systematically over many months and years.
For your next investment, you could invest via an SIP in Aditya Birla Sun Life Equity Fund. It is a classic flexi-cap diversified fund.