In which mutual funds can I invest a lumpsum of Rs 3 lakh?
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Pankaj Maalde, a certified financial planner, responds:
Before investing you should be clear about your financial goals and the period for which you want to invest. The time horizon will help you with correct asset allocation which is important before investing. Equity schemes come under high-risk-high-return category and require a long-term term horizon of over five years. I would advise you to take the help of a mutual fund advisor before starting any investment.