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Am I investing in right mutual funds for my daughter’s education?

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Last Updated: Jan 08, 2020, 02.42 PM IST
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I am 48 years old. I have been investing every month in the following mutual funds:
Nippon India Small Cap Fund: Rs 2,000 (since Oct 2017)
HDFC Mid-Cap Opportunities Fund: Rs 1,500 (since March 2015)
Mirae Asset Tax Saver Fund: Rs 3,000 (since Aug 2019)
Axis Bluechip Fund: Rs 2,000 (since Aug 2019)

I am planning to invest for the next 10 years. I may add another Rs 1,500 to make the total investment of Rs 10,000 per month. Kindly suggest whether the following schemes are good or I need to make any changes? I am investing for my 11-year-old daughter’s education and my retirement.
---Sankar Sankar

Veena Malgonkar, certified financial planner, KM Wealth Solutions, responds:


You have chosen good mutual funds. HDFC Mid-Cap Opportunities Fund would have given good returns, but for its recent underperformance. Investment in Nippon India Small Cap Fund must have shown a deep correction. However, in spite of some pain you have continued your investments in the small and mid cap funds in the last 1-2 years. It will definitely give you good returns in the years ahead.

As you are 48 years old, you need to consider your retirement plan. I would ask you to meet a financial advisor to determine how much corpus you will need for your retirement and the path to achieve your goal.
(If you have any mutual fund queries, message us on ET Mutual Funds on Facebook. We will get it answered by our panel of experts.)

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