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Dev Ashish  |48 Answers  |Ask -

MF Expert, Financial Planner - Answered on Jun 13, 2023

Dev Ashish is a fee-only SEBI-registered investment advisor with over 15 years of active experience in the stock market. In 2011, he founded StableInvestor, a platform for personal finance and financial planning.
He provides professional fee-only investment advisory services to small and high networth individuals in order to help them achieve their financial goals.
Ashish's views are regularly published in national business publications. He has an MBA degree from NMIMS, Mumbai and also holds an engineering degree.... more
TADIKAMALLA Question by TADIKAMALLA on May 29, 2023Hindi
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Please suggest Best ELSS Scheme

Ans: There is no one best ELSS fund. Different ELSS funds have different investment approaches and you should pick one which fits well in your risk profile and complements the portfolio of existing mutual funds in your portfolio. So for example - if you have a largecap fund already in your portfolio, then picking an ELSS fund which has higher exposure to non-large-caps is what you should consider assuming your risk profile is suited for that. Also, when picking ELSS funds, look at the fund vintage and investment philosophy of the AMC/fund manager handling it. Better to go with funds which have seen a full market cycle instead of yet-to-prove newer ones.

Note (Disclaimer) - As a SEBI RIA, I cannot comment on specific schemes/funds that are provided or asked for in the questions in the platform. And the views expressed above should not be considered professional investment advice or advertisement or otherwise. No specific product/service recommendations have been made and the answers here are for general educational purposes only. The readers are requested to take into consideration all the risk factors including their financial condition, suitability to risk-return profile and the like and take professional investment advice before investing.
DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Users are advised to pursue the information provided by the rediffGURU only as a source of information to be as a point of reference and to rely on their own judgement when making a decision.
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Ramalingam

Ramalingam Kalirajan  |5260 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on May 29, 2024

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May you recommend five to six best ELSS Funds for my daughter who is join shortly after completion of MBA.
Ans: Congratulations on your daughter's upcoming MBA graduation! An MBA is a great achievement, and planning for her future is fantastic.

ELSS funds can be a smart way for her to start building wealth for her long-term goals. Here are some key points to consider when choosing ELSS funds for her:

Investment Time Horizon: Since your daughter is young, she has a long investment horizon. This allows her to take on more risk for potentially higher returns.

Risk Tolerance: Understanding her risk tolerance is important. How comfortable is she with potential market ups and downs?

Financial Goals: What are her long-term financial goals? Retirement, higher education, or a down payment on a house? These will influence her investment choices.

Here's why I can't recommend specific ELSS funds:

Performance: Past performance isn't a guarantee of future results. What worked well yesterday might not work well tomorrow.

Your Daughter's Needs: The best ELSS funds for her depend on her specific risk tolerance and goals.

What I can recommend:

Actively Managed Funds: ELSS funds are actively managed by experienced professionals who try to outperform the market. This can be beneficial over the long term.

Diversification: Consider a diversified portfolio of 2-3 ELSS funds across different market capitalizations (Large, Mid, and Small Cap). This helps spread risk.

Seek Professional Help: A Certified Financial Planner (CFP) can analyze your daughter's risk profile and financial goals. They can recommend suitable ELSS funds based on her needs.

Here are some additional tips:

Start Small, Invest Regularly: Starting small with a Systematic Investment Plan (SIP) is a good way to begin. She can increase the SIP amount as her income grows.

Stay Invested for Long Term: The power of compounding works best over time. Encourage her to stay invested for the long term to benefit from market growth.

Review Regularly: As her financial goals and risk tolerance evolve, her portfolio may need adjustments. A CFP can help her monitor and rebalance her investments periodically.

By planning early and taking a strategic approach, your daughter can build a solid financial foundation for her future.

Best Regards,

K. Ramalingam, MBA, CFP,

Chief Financial Planner,

www.holisticinvestment.in

..Read more

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DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Investment in securities market are subject to market risks. Read all the related document carefully before investing. The securities quoted are for illustration only and are not recommendatory. Users are advised to pursue the information provided by the rediffGURU only as a source of information and as a point of reference and to rely on their own judgement when making a decision. RediffGURUS is an intermediary as per India's Information Technology Act.

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