Best mutual funds for my daughter’s education, marriage
If you have any mutual fund queries, message on ET Mutual Funds on Facebook. We will get it answered by our panel of experts.
Pankaj Maalde, a certified financial planner, responds:
You can consider investing in equity mutual funds, assuming you have a long investment horizon. Equity schemes come under high-risk-high-return category and require a long investment horizon. They might give you negative returns in the short term, but they will offer good returns if you continue with your investments for a long period. I will advise you to invest in a multi cap fund which invests across all market capitalisations and sectors. Invest in the growth option. But before investing, you should decide the corpus required for your goals. It will help you figure out the monthly amount you need to invest to achieve the target corpus.