Where should I invest for 1-1.5 years?

I have an SIP of Rs 5,000 in each of the below mentioned schemes:

1. Aditya Birla Sun Life Equity Fund - Growth, Regular
2. Aditya Birla Sun Life Tax Relief 96 Fund

I am a conservative investor and I might need my funds in next 1-1.5 years. Can you advise if the above portfolio is fine. Also please advice some other funds to invest. Should i stop my SIP in the growth plan and invest in some other plan?
--Srishtika Jhanb

Raghvendra Nath, managing director, Ladderup Wealth Management, responds:

If your investment horizon is only 1-1.5 years which is a short term period in the investment world, I would recommend you to avoid equity investment considering you are a conservative investor. In addition to this, Aditya Birla Sun Life Tax Relief 96 Fund is an ELSS scheme which has a lock-in period of three years which might not be conducive with your investment horizon. You may stop the SIPs in the equity funds and start SIPs in ultra-short duration debt mutual funds like Aditya Birla Sun Life Saving Fund and Franklin India Ultra-Short Term Bond Fund.