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Best mutual funds to invest for child’s higher education

mutual fund for child
I am planning to start an SIP of Rs 10,000 per month for 15 years. Should I invest in a single AMC or multiple AMCs. Also, where should I invest? I will keep investing every month but don't want to assess the portfolio till the end of 15 years. I will be banking on a particular AMC for high profits after 15 years for my child’s education.
--Praveen Sethia

Gaurav Monga, Director , PxG Consultants, responds:

Diversification plays a very important role when investing. It is wisely said, “don’t put all eggs in one basket”. Since you are going to invest for a long term, I would advise that you should opt for equity oriented schemes.

Here are my recommendations:
Allocate around Rs 7,000 in multi cap funds- Kotak Standard Multicap Fund, SBI Magnum Multicap Fund, or Axis Multicap Fund. Select at least two schemes and invest Rs 3500 in each.

Allocate around Rs 3,000 in large & mid cap funds- Mirae Asset Emerging Bluechip Fund or Invesco India Growth Opportunities Fund. Invest the amount in one of the schemes.

It is also advisable to keep track of your schemes’ performance. An annual review of the portfolio is a must.
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