I started investing in mutual funds in 2015 and so far have put money only in a couple equity-linked savings schemes (ELSS). I want to invest more, what other funds can I invest in?
If you can invest for five years and more, you should consider starting a SIP in diversified equity funds
I started investing in mutual funds in 2015 and so far have put money only in a couple equity-linked savings schemes (ELSS). I want to invest more, what other funds can I invest in?
Jitendar Sahu, Chandigarh
It is never too late to start investing in mutual funds and you have embarked on the right direction by investing in equity-linked savings schemes (ELSS), which have a three year lock-in. You can also claim tax deductions on your investments in these funds. Depending on how many years you have that you can invest for and the risk that you can take with investing; you could arrive at the type of funds that you could consider investing. If you can invest for five years and more, you should consider starting a systematic investment plan (SIP) in diversified equity funds. There are several good funds that you could start investing to build a corpus, which grow over times in a systematic manner.