Dear pankaj Can you please tell me which is best option to invest in Mutual funds (a) D-Mat account or through a (b) Trading agent. I have invested through a trading agent.bt would like to shift to D Mat account if you will suggest only then. Right now my age is 29, I am single, annual income is around 6 lac Plus pa. I am going through sips of Rs 2000/- per Month for each with growth options. And funds I have opted are (1) HDFC Top 200, (2)HDFC Equity, (3)HDFC Balanced, (4)DSP Micro Cap, (5)DSP small & MID Cap, (6)IDFC premier Equity,(7) Reliance Equity opportunity, (8)ICICI Focused blue-chip Fund, (9)Fidelity Equity, (10) Fidelity tax advantage,(11)ICICI Prudential balanced. Can you please tell me about these funds and their future prospectus? How long should i hold these funds? Should I carry on with all or do you suggest any funds to be dropped from the basket. Thanks and Regards Naveen Thakur
2 Answers
Using DMAT will cost you a little amount every time a SIP is deducted but has the benefit that all your funds will be at one place. I don't trust agents. If you know where you want to invest, simply invest directly without any broker or DMAT.
Most of the mutual funds selected by you are good.
However you can also think about following funds:
Tax savings: Canara Robeco Equity Tax Saver, HDFC Taxsaver, Franklin India Taxshield, DSPBR Tax Saver and Fidelity Tax Advantage.
Equity diversified: Birla Sunlife Frontline equity fund, HDFC Top 200 Fund, DSP Blackrock Top 100 fund, Reliance Regular Savings – Equity, ICICI Pru Discovery Fund, DSP Blackrock small and midcap fund, Sundaram Select Midcap, HDFC Equity Fund and Sundaram S.M.I.L.E Fund
Read here to know about the best way to invest in mutual fund.
Thanks Pankaj First of all I would like to thank you for your valuable suggestions. I forget to mention that I have invested 20000/- each in Canara Robeco Equity tax saver and HDFC tax saver, I have also started a SIP of 2000 Pm on Fidelity Tax Advantage, Pankaj can u please suggest me (1) what could be the impact of DTC on these ELSS. (2) Which is the best Term Plan (3) Which is the best health plan
Thanks and Regards naveen
After DTC, ELSS investment won't be available for tax exemption. All ELSS mutual funds will be converted to normal equity mutual funds most probably. You may buy LIC Amulya Jeevan or ICICI iProtect term insurance. For medical insurance you may choose from Apollo Munich or Max Bupa.
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