Want to invest in mutual funds but don’t know how to go about it?

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Get all your mutual fund related queries answered by our expert, Feroze Azeez, deputy chief executive officer, Anand Rathi Wealth Management, on our show Mutual Fund Corner.

Q: 25-year-old Anmol Jain writes us from Bengaluru. Invested Rs 20,000 in ABSL Tax Relief 96, Rs 45,000 in Axis Long Term Equity and Rs 10,000 in Axis Focus 25. Also, I have invested around Rs 85,000 in Public Provident Fund (PPF) for the last three years.

All the above investments are done via lump sum in 2018. My current focus is the next five years. Although, I am optimistic in long term. The only goal for me is wealth creation for the next five years. I can invest Rs 25,000 per month or Rs 3 lakh as lump sum in 4-5 transactions.

Please suggest some good wealth appreciating funds. I don't mind going a bit aggressive if there is a 90 percent chance of a higher returns of 4-5 percent more than general funds mentioned above which I am investing. I want to make Rs 50 lakh in the next 5-10 years. Currently, I am on Leave Without Pay (LWP). I will be having my job back in 2020. So, can I increase amount if required?

A: You can continue with your PPF. ABSL Tax Relief 96 and Axis Long Term Equity are both ELSS funds and we suggest you to invest in ELSS funds only if your aim is to save tax. You can hold your investments in Axis Focused 25. You can invest Rs 3 lakh as lump sum in Mirae Asset India Equity and Canara Robeco Emerging Equities Fund.

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