I am 70 years old and living on pension and interest income. I have invested Rs 30 lakh in the following mutual funds since 2015. I don’t want to redeem any of the funds right now. I may kindly be advised whether I should close all the funds and put them under one Balanced Advantage fund.
1) Hdfc retirement savings equity plan
2) Hdfc balanced advantage fund
3) Nippon india growth fund
4) DSP tax saver fund
5) DSP quant fund
6) SBI Bluechip fund
7) SBI Equity Hybrid fund
8) SBI magnum midcap fund
9) ICICI flexicap fund Regards,
Ans: Hello Aloke. Considering your age factor as primary concern for portfolio analysis, it seems there are high risk appetite schemes in your portfolio. Hence, I would recommend to switch your investment in low risk appetite with Hybrid asset class such as:
- HDFC Balanced Advantage Fund
- ICICI Prudential Bluechip Fund
- SBI Equity Hybrid fund