Which mutual fund shall I purchase?

Hi. I have just completed my 5 year ULIP plan from Aviva and infact showing up losses and withdrew the amount. One of my friend suggested me to invest in Mutual funds since I am not interested in Life insurance. I now wanted to invest in mutual funds that would help me in Tax Savings too. I have 60k to invest this year. Please advise what mutual funds do I purchase. Should I be investing in one mutual fund or multiple? Also please explain what is SIP. I do have a Sharekhan account. Is this sufficient for me to purchase a mutual fund or do I need to do something else? If yes, will I get a receipt from Share khan to submit in the year end.

asked May 30 '12 at 22:58 by rabnawaz 1111


It was a wrong decision for you to buy a insurance plan for investment purpose. Insurance should be bought for risk coverage and not for returns.

SIP in Mutual funds are best way for long term investment.

For tax saving mutual funds, you can pick from following funds:
Canara Robeco Equity Tax Saver, HDFC Taxsaver, Franklin India Taxshield and DSPBR Tax Saver

You should be able to start SIP from sharekhan account too. You will get account statements from mutual fund as proof of investment.

You should also read below post: How to transact in Mutual Funds online

answered May 30 '12 at 23:59 by pankaj 5.2k320

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Thanks Pankaj. I would also like you to advise on the following.. 1. Should I be investing full 60k of this year in one fund or multiple? 2. Should I select Growth or Dividend? Could you explain whats the difference between growth and dividend also which is the best one to invest.
(Jun 01 '12 at 19:58) rabnawaz
There is no harm in investing in one or multiple funds. If you are investing in one fund, make sure you select best one. In case you want to invest in 2-3, you can pick best 2-3 funds. If one of them does not perform, others may compensate for same. Regarding Growth/Dividend type, read this post for details: http://www.pankajbatra.com/finance/growth-dividend-payout-reinvestment-mutual-fund-investment-options/
(Jun 01 '12 at 20:06) pankaj

Hello Mate, as I understand you have experience of investment already but i will suggest you to take advice from any financial adviser in order to get the proper guidance and to get higher returns. You can contact my financial adviser Swaraj wealth http://bit.ly/2umgx9g

answered Sep 07 at 17:21 by Abhishek Chawla 1

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Asked: May 30 '12 at 22:58

Seen: 1,736 times

Last updated: Sep 07 at 17:21