Hi Mr Basu,
I want your suggestion for some investments that I want to make, these investments are not for marriage, child education or anything of that sort, I work overseas, and want to make little investments in India to start with.
Details of how much I wish to invest and for how long
Amount: 5000 per month
I already have a mutual fund with Canara bank, which got elapsed in Aug 2015( was started in April 2013).
I have an option of renewing this fund for more number of years 5 or 10, or switching to other products of Canara bank like Canara Robeco Equity Diversified scheme, Canara Robeco Emerging Equities Scheme.
But I have no idea what to go for or to go for any of these or just look for options outside Canara
Can you suggest me a mutual fund which will be best for me within Canara and also if any outside of Canara.
I have a capital of 1 lakh plus from the gold fund which I do wish to invest as a one-time investment for 5 or 10 years, whichever is good.
How is ICICI Prudential Value Discovery Fund (G) or UTI MNC Fund for the one-time investment for a long term.
In short, I want you to tell me a mutual fund in which I can invest 5k monthly for a period of 5 years and a fund in which I can do a one time investment of 1 lakh for period of 5 or 10 years (whichever you suggest is better)
Thanks in advance.
Nim-First answer-No equity investments for a period 5 years. If your holding period is more than 5 years, then only enter into equity. Which funds you are holding in Canara Robeco MF? For your information, Canara Bank is different and Canara Robeco MF is different entity.
Let me know your current holding in Canara MF.
Sorry for the confusion, the mutual fund is “Canara Robeco Gold Saving Fund scheme.”It was for a period of April 2013 to April 2015, right now I have an option of continuing the same fund or change to another.Thanks Nim
Nim-I suggest to stay away from gold if your intention is investment. If you want to accumulate gold for immediate usage then you can invest. Stay away from gold. Because it is volatile in nature like equity but gives you return of Bank FDs.