Hi Sir : I have following monthly SIP :HDFC Balanced Fund(g):3000/- , Franklin India Small company fund (g) :3000/- & IDF Premier Equity Fund (g):500/- .
My target is to make 1Cr. for daughter ‘s education, which will be needed after 15 years.
I am also investing in PPF and superannuation fund as part of my service. Don’t have financial obligations as it’s take care by my husband.
Please SIP to meet my long term goals, I can increase my monthly investment to 25000/
For your 15 years goal, I suggest the asset allocation between debt (it may be PPF, EPF or Debt Funds) and Equity Fund should be in between 30:70. I suggest you must include one large cap (which is missing and hence add Franklin India Bluechip Fund), one mid cap (the current one is under performing) and a small cap (you can continue the same) are enough.
If your target is to achieve Rs.1 Cr (future value after 15 years), Return expectation from both debt and equity is around 10.5% (from debt 7% and equity 12%), then you have to invest monthly around Rs.23,000.
Also, reviewing funds once in a year along with doing asset allocation between debt and equity. If you can’t do this activity, then go with a planner or adviser of your choice. Otherwise, you can manage it on your own also.