Mutual funds to create Rs 1 crore in five years

I have been investing in the following mutual fund schemes since September. I am 53 and I am planning to invest for the next five years to get Rs 1 crore for my retirement life.

UTI Small Cap Fund: Rs 20,000
UTI Focused Equity Fund: Rs 20,000
HDFC Banking & Financial Services Fund: Rs 20,000
DSP Global Equity Fund: Rs 15,000
SBI Balanced Fund: Rs 25,000

Please advise if my selection is correct.
—Deepak Khanolkar


You are 53 years old. That means you hardly have five or seven year to your retirement. It is extremely important to know your financial details before offering personal advice. Since you have not shared any details with us, it is not possible to comment on your investments.


We will not recommend investing in equity mutual funds with a five year horizon. Especially since you are on the verge of retirement. You should invest in equity schemes only if you can stay invested for a long period. Equity or stocks can be extremely risky in the short term. You should hire a financial planner or mutual fund advisor to get detailed advice.