I am 28 years old. I want to build a corpus of Rs 3 crore by the time I am 58 years old. How much do I need to invest? Also, which schemes should I consider? Also, which are the best mutual funds to invest at 61?---Ashish RoyShifali Satsangee, Founder, Funds Veéda, responds: To achieve a corpus of Rs 3 crore in the next 30 years, you need to invest Rs 8,500 per month, assuming an annual return of 12%. I am also assuming that you are a first-time investor, and have a moderate risk appetite, with a long-term investment horizon. You can start your monthly SIPs in: Kotak Standard Multicap Fund: Rs 4,000 Mirae Asset Emerging Bluechip Fund: Rs 4,500 If you are an aggressive investor, you can also start an SIP in a small cap or mid cap fund. For a 61-year-old person, equity can be a risky option. However, if all the other things are in place, like monthly funds and a retirement corpus, you can take the risk. Please seek the help of a mutual fund advisor or financial planner for a … [Read more...] about How much should I invest in mutual funds to create Rs 3 crore?
Hdfc mutual fund sip
NEW DELHI: ELSS, known as Equity Linked Savings Scheme, is a diversified type of equity mutual fund that is certified for tax exemption under Section 80C of the Income Tax Act. ELSS is the most preferred mutual fund amongst investors as it offers tax benefits and increase in the price or value of assets. ELSS has a lock-in period of three years, which means that one cannot sell these funds before three years from the date of purchase. Deductions of up to Rs 1.5 lakh can be availed on the amount invested on these tax savings funds. One is required to submit the supporting documents to claim deductions. What are the tax benefits under Section 80C? Under Section 80C of the Income Tax Act, one can avail tax benefits from his/her gross total income. If one has invested in ELSS mutual funds then he/she is eligible to avail tax deductions of up to Rs 1.5 lakh on the invested amount. Besides, one can invest in other mutual fund schemes to avail tax deductions as per the Section 80C of the … [Read more...] about ELSS mutual funds that offer tax benefit
Let us see how this budget goes, how the government comes out with the fiscal deficit math and manages to prop up the economy by giving something on the demand side or may be on the consumption side, says Jinesh Gopani, Head of Equity, Axis Mutual Fund. Excerpts from an interview with ETNOW. The markets are at an all-time high and economic indicators are at a record low. If earnings recovery is not happening, do you think it is a matter of time before the haloed 10, 15, 25 stocks will come down as well?It is the flow which is keeping the markets strong. The kind of supplies which are getting absorbed in the markets, the kind of QIPs or the OFS which are coming show there is a huge liquidity which is helping the market remain where it is. After the corporate tax rate cut announcement, a bump-up came and that helped some of the earnings upgrade because of tax saving. But from here on, it is going to be difficult to see how the earnings momentum picks up either in the December quarter … [Read more...] about Hope trade keeping market near record high: Jinesh Gopani, Axis Mutual Fund
PivotRoots, a full service independent digital agency, has bagged the digital media mandate of PGIM India Mutual Fund.Sakshi Dalela, head of marketing and communications, PGIM India Mutual Fund, said, “We are delighted to partner with PivotRoots for digital media services. Their user first, data-centric and platform-agnostic approach emerged as a big differentiator. PivotRoots will collaborate with us to ensure best practices of creative and innovation across digital media are implemented. PivotRoots will also manage the organic visibility mandate.”PGIM India is a wholly owned business of PGIM, the global investment management business of the US based Prudential Financial, Inc. (PFI). Shibu Shivanandan, founder and managing director of PivotRoots, said, “We are excited to partner with PGIM India to manage the brand’s digital-first focus for driving awareness and new user growth goals. Since the brand operates in a very competitive and challenging category, … [Read more...] about PivotRoots wins digital media services mandate for PGIM India Mutual Fund
By Dhirendra KumarCEO, Value Research Like clockwork, every time the equity markets are weak (or are being generally accused of it), the SIP doubters raise their head again. In fact, because the total number of SIP investors has grown so fast, the number of doubters is also much larger than in the past. I hope that as time goes by, a higher proportion of mutual fund investors settle down to the concept but for what is supposed to be a simple (and simplifying) idea, there are still way too many misconceptions about the SIP (systematic investment plan) way of investing. At Value Research, we get a steady stream of investor emails asking questions that show that for some, SIPs remain misunderstood and misused. Here’s a typical one, “The markets are expected to stay oversold because blah blah. Is it wise to hold SIPs in such period?”. This is just one such example. In general, those who have a punter’s approach to investing or spend too much time watching the … [Read more...] about Bad time to stop your SIPs: Dhirendra Kumar