Should I continue with these mutual funds?
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Reliance Large Cap Fund: Rs 5,000 per month
Sundaram Large and Mid Cap Fund: Rs 5,000 per month
Mirae Asset Large Cap Fund: Rs 3,000 per month
HDFC Small Cap Fund: Rs 2,000 per month
IDFC Tax Advantage (ELSS) Fund: Rs 3,000 per month
Axis Long Term Equity Fund: Rs 3,000 per month
ICICI Prudential Long Term Equity Fund: Rs 3,000 per month
Should I continue with these schemes? How much returns should I expect after 10 years?
Harsh Jain, COO & Co-founder, Groww, responds:
Investing in equity mutual funds is suitable for investors with a long investment horizon and a moderate risk profile. You are investing more in large cap funds. If you have a 10-year horizon and willing to take more risk, you can include some small- and mid-cap funds in your portfolio.
The decision to switch a scheme should be taken only if the fund has given poor returns over a long period or the scheme is no longer in line with your goals.
If you continue to invest Rs 23,000 per month in the selected funds, you will make around Rs 51 lakh at the end of 10 years, assuming an annual return of 12 per cent.