Suggest a mutual fund scheme to invest Rs 10,000 via SIP

l am a 36 years old government employee. My salary is about Rs 50,000 per month. I have an investment of Rs 1,000 per month in DSP BlackRock direct growth scheme and Rs 2,000 per month in Reliance Tax Saver (ELSS) Fund. I want to invest Rs 10,000 per month. Which fund is better for me? I have an investment of Rs 33,000 yearly in LIC and Rs 5,000 monthly in PPF.
-- Debasish Ghosh
Apoorva Vohra, Founder, Finolutions Wealthcare, responds:

I presume you have invested in a direct plan in DSP BlackRock. Please check the complete name of the scheme. I am not clear about your investment in LIC, whether it is in ULIP or some other type of plans.

You may look at diversifying your investment of Rs 10,000 in these categories:

1. A large and midcap fund
2. A midcap fund
3. A focused fund

As a long-term SIP investor, you may have to consider the consistency of the fund house in terms of their investment processes, people management and overall performance.

You should consult your advisor to identify the underlying funds in the three mutual fund categories I mentioned above. This is important since the fund houses are re-categorising their mutual fund schemes to comply with Sebi norms. Since mere past performance will not help you to make a decision, you should touch base with your advisor or your financial planner.