I want to invest Rs 1,000 a month in equity-based SIPs. Which schemes do you recommend?
Surinder Bawana, Jaipur
It is encouraging to note your desire to invest in a mutual fund with monthly SIPs. What you need to do next is to zero down on an investment time frame for which you plan to invest for us to suggest the best fund that you could invest in. If you are a first time investor, it would be worth investing in funds like Axis Long Term Equity or ICICI Prudential Balanced Advantage Fund, which are good to invest with a 3-5 year time frame. Investments in Axis Long Term Equity also offer you tax deduction under Section 80C. But, mostly you should look at investing in a diversified equity fund which has a long-term performance history to go by that has done well over different market cycles.
