I am a first time investor and wish to invest Rs 10,000 through SIPs every month. Kindly recommend some funds.
As a first time investor you need to keep in mind a couple of points before you start. For instance, are you looking for tax savings or growth? With the former, you can look to invest in equity-linked savings scheme (ELSS) funds, which would enable you to get an immediate tax deduction of up to Rs 1.5 lakh under section 80C of the income-tax Act. Funds like DSPBR Tax Saver or Franklin India Taxshield are good to invest for this purpose. If you are seeking growth, you need to invest with a five years or more investment time frame. You could look for funds from our Stellar List or from the portfolio that are operated under OLM Elite. All these funds featured on these lists have a proven track record and performance history over different market cycles to confidently put your money in them.