I want to start SIP of Rs 15,000 monthly in equity and I am 43. Please guide me in my choice of funds and help me in SIP allocation of Rs 15,000.
Atul Kumar, Ghaziabad
Good to note your interest to invest in mutual funds. While you have made a good start by putting a figure on how much you would like to invest, it will be good if you can define a time period for this investment and also a goal for the same to make your investment more meaningful. As a first time investor, it will be good to start investing in a balanced fund like ICICI Pru Balanced or ICICI Pru Balanced Advantage fund. Both are good funds to start investing.
Assuming you invest Rs 15,000 each month for the next 15 years, earning an annualised 12 per cent return, your total investment of Rs 27 lakh will be worth Rs 75.68 lakh, earning you Rs 48.68 lakh profit.
