I am an NRI; never invested in MFs. I would like to have your views on investing in the top MFs on a monthly basis of Rs 50k- Rs100k with a monthly inflow to my bank. I am also looking to invest between Rs 100 lacs as lumpsum in some funds to save taxes. I would appreciate your brilliant ideas on the same. My age is 55 years. I am looking forward to hearing from you.
Ans: Below are few funds that can be considered for monthly investment:
- UTI Flexi Cap Fund -- Growth
- Parag Parikh Flexi Cap Fund -- Growth
- Axis ESG Equity Fund -- Growth
- Motilal Oswal Focused 25 Fund -- Growth
Tax savings are capped at Rs 1.5 lakhs under 80C per annum, therefore it does not make sense to invest more than that in ELSS schemes.
A few ELSS Schemes that can be considered are
- Axis Long term Equity Fund -- Growth
- Canara Robeco Equity Tax Saver Fund - Growth