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, Pankaj Mathpal, managing director, Optima Money Manager, on our show Mutual Fund Corner.

Q: 28-year-old Venkateswara Raju writes us from Andhra Pradesh. My wife and I invest Rs 3 lakh/year in Public Provident Fund and Rs 1.5 lakh/year in Sukanya Samriddhi Yojana (SSY). I started investing Rs 12,500 monthly in SIPs since two years in Kotak Select Focus Fund, Mirae Asset Equity Fund, SBI Blue Chip Fund, ICICI Blue Chip Fund, Canara Emerging Equity Fund, HDFC Midcap Opportunity Fund, Franklin India Prima Plus and HDFC Small Cap. I can add up to Rs 1.5 lakh to my yearly goals. My goal is child's education and corpus is Rs 6 crore.

A: Considering your current age, you should have higher exposure in equity than debt. Franklin India Prima Plus has been renamed as Franklin India Equity Fund. It’s a multicap fund with an average performance. Suggest you to cancel your SIP in this scheme. I recommend Aditya Birla Sun Life Equity, ICICI Prudential Multicap and Mirae Asset Equity in this category. For additional investment of Rs 1.50 lakh, you can divide in to four parts and add equally to ICICI Prudential BlueChip, Canara Emerging Equity, HDFC Midcap Opportunity and Mirae Asset Equity.

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