Opening a demat account to invest in mutual funds

I am a 21-year-old student. I want to start investing in mutual funds. Please suggest me some funds which will give me good returns to generate wealth. I want to start by investing Rs 1,000 with which I can open my demat account. Kindly guide me.
--Shubham Jain

Ankita Narsey, a mutual fund advisor, responds:

I appreciate that you are starting young. You can consider any of the following multicap funds to start off. However, make sure you are aware of the basics of investing in a mutual fund and the risks involved before you start with your investments.

Multicap fund recommendations:

1) Aditya Birla Sun Life Equity Fund
2) SBI Magnum Multicap Fund
3) Franklin India Higher Growth Companies Fund
Do not forget to monitor your investments at regular intervals.

It is not mandatory to have a demat account to invest in mutual funds. However, to open a demat account, you have to approach a depository participant (DP), an agent of depository, and fill up an account opening form. The list of DPs is available in the websites of depositories: CDSL (Central Depository Services (India) Ltd) and NSDL (National Securities Depository Ltd).