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Right mutual fund schemes to invest for 20 years

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I am 25 years old and I want to start investing in mutual funds. My time horizon is 20 years and I want to create wealth. As of now, I can invest Rs 5,000 per month. Please suggest the right mutual funds?
--Ribhujeet Das

Pankaaj Maalde, a certified financial planner, responds:


You have taken the right decision to invest in equity through mutual funds. Equity comes under high-risk, high-return category and requires a long term horizon which you have. I will advise you to invest in a multi cap fund which invests across all market caps. Go for the growth option and avoid the dividend option. Yearly review is also important in equity investments. You can consider investing in Aditya Birla Sun Life Equity Fund, Kotak Standard Multicap Fund, and SBI Magnum Multicap Fund.
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