I will retire in 10 years and I want to put money in equity mutual funds. Where should I invest?

I will retire in 10 years. I have health and life insurance. I want to invest Rs 15,000-20,000 per month in equity funds. Where and how much should I invest to get the best results in 10 years?

Rahul Parikh, CEO, Bajaj Capital replies: You can divide the money equally into 4 SIPs in SBI Magnum Multicap Fund and ICICI Prudential Multi Cap Fund in the multi-cap category, Mirae Asset Emerging Bluechip Fund in large and mid-cap category and Kotak Emerging Equity Scheme in the mid-cap category. Please shift your corpus to debt-oriented funds after eight years to protect your corpus from market-related volatility.

My brother is a Canadian citizen. What are the investment options available to my mother, an Indian citizen, if she wants to make my brother a joint holder or nominee?

Ankur Choudhary, Co-Founder and CIO, Goalwise replies: Adding your brother as a nominee would be the simplest option as having a Canadian citizen as a joint holder will mean stricter KYC and other regulatory requirements. Your mother can be the single holder and as she is an Indian citizen she will be able to access all investment options like mutual funds, stocks and bonds. Your brother can be the nominee in all investments. After your mother's demise, these investments can be transferred to the nominee.

Last year, I invested Rs 2 lakh in a midcap equity fund. The current value of that investment is Rs 1.5 lakh. I want to exit but without incurring a loss. What should I do?

Vidya Bala, Co-Founder, Redwood Research replies: The fall in the value of your investment is due to the fall in the market. You will have to wait for a revival. That may take six months or even two years. That is the nature of equity investing. You have not stated the name of the fund you are invested in. If the fund is a top-rated one, then consider averaging as this is a good time to lower your cost. In general, do not enter any equity fund unless you have a 5-year time frame.