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Should I continue with Reliance (Nippon India) Mutual Fund?

If you have any mutual fund queries, message on ET Mutual Funds on Facebook. We will get it answered by our panel of experts.

ET Online|
Nov 07, 2019, 12.24 PM IST
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My mutual fund advisor has invested my money in three mutual funds- Reliance fund, HDFC fund and ICICI fund. HDFC and ICICI have managed to remain just above the loss level. Their return is less than 1%. The Reliance fund is down by 7%. My advisor isn’t taking any action and keeps saying that it is a temporary phase and Reliance has commitments from Nippon group, etc. My returns are already down by 6% in a year now. What should I do? Should I continue with the Reliance fund?
--H S De

Ankita Tanna Narsey, Founder, Oaktree Financial Advisors, responds:

You have not mentioned the schemes’ your advisor has chosen from the mutual fund houses. However, I agree with your advisor’s view on the current market situation. You should not panic due to a temporary underperformance of a particular scheme. If you have invested in equity mutual funds, you need to give it sufficient time to show results. You need to stay invested for a minimum of five to seven years to get decent returns. adds: Reliance Mutual Fund is now Nippon India Mutual Fund. The fund house and its schemes were renamed after Nippon Life Insurance of Japan completed the acquisition of 75% stake in Reliance Nippon Life Asset Management from Reliance Capital. Should investors be concerned about the change? For more, read: Reliance Mutual Fund is Nippon India Mutual Fund now. Should you exit?
(If you have any mutual fund queries, message us on ET Mutual Funds on Facebook. We will get it answered by our panel of experts.)
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