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: 24-year-old Dhruv Shailesh writes to us from Mumbai. Invested about Rs 4 lakh in HDFC Hybrid Debt Fund Dividend. I would like to redeem the fund as I don’t need monthly dividend anymore. Please suggest a fund for long term. My time horizon is 20-25 years. Also, have an SIP of Rs 10,000 in IDFC Sterling Growth ELSS. Should I carry on or switch?

A: HDFC Hybrid Debt Fund is a debt fund with moderate exposure to equities. Since you are just 24-years-old, and have a lot of years to go for your retirement, we would suggest you to invest in diversified equity funds in order to maximise your returns.

Also, if you are looking at long-term investments for 20-25 years, we would suggest you to invest in Mirae Asset India Equity Fund, Kotak Emerging Equity Fund and HDFC Small cap Fund. Also, you have invested a large amount in ELSS fund. We would suggest you to invest in ELSS funds only if your sole aim is to save tax. If not, we would suggest you to invest in other equity funds recommended.

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