I will be getting married in five years from now for which I need Rs 10-Rs 12 lakh. I can invest Rs 12,000- Rs 15,000 a month. Please suggest funds where the tax on redemption is nil.
Anil Sahay, Gurgaon
The sum you are planning to invest every month is good for a start and could result into the corpus you are planning for your wedding with about 10 per cent annualise return. As you appear to be a first time investor, you could consider investing in balanced funds, which maintain their asset allocation between equity and debt by rebalancing it regularly. This way, the fundamental principle of investing by maintaining an asset allocation is achieved. You could invest in ICICI Pru Balanced or ICICI Pru Balanced Advantage fund, which are both suitable to first time investors as well as for maintaining the asset allocation with the investment. Investing in these funds should see you reach your goal and have a happy married life.
