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Will these mutual funds help me to create Rs 12 crore for retirement?

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|
Jun 13, 2019, 04.58 PM IST
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I am currently investing Rs 25,000 every month through SIPs of Rs 5,000 in each of these funds.

Mirae Asset Emerging Bluechip Fund
Parag Parikh Long Term Equity Fund
L&T India Value Fund
L&T Midcap Fund
Reliance Large Cap Fund

I want to create a corpus of Rs 12 crore for my retirement which is 28 years away. I also need Rs 70-80 lakh for my child’s higher education which is 17 years away.

Let me know if these funds are good or should I invest in some other funds?
-- Sumit Goel

Raghvendra Nath, MD, Ladderup wealth management, responds:

Since your investment horizon is long term, I would recommend you to replace L&T India Value Fund with HDFC Small Cap Fund. All the other funds are performing well. However, you should keep tracking the performance of your funds regularly and replace any underperforming fund within the category with a better performing fund.

If you continue with the SIPs for the next 28 years and increase it by five per cent every year, you should comfortably reach your retirement goal of accumulating Rs 12 crore. You can also meet your goal of child's higher education with this investment.

(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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