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Question

i am 32 self employee not in govt. i want to invest Rs.1000/- p.m. for 15 years  in SIP which is best mutual fund after maturity I want Rs. 15 to 20 lakhs

Answer

Dear Mahesh,

To accumulate the corpus of 15L to 20L with an SIP of Rs.1000 P.M you need a return of 23%-25% (CAGR) which is highly unrealistic in this volatile markets.In order to achieve this target you have to raise your SIP per month to 3,000-3500 per month or else increase the investment horizon to 20 -25 years

Recommended funds for you are as follows

• ICICI Prudential Focused Blue chip Fund
• ICICI Prudential Dynamic Fund
• HDFC Top 200
• HDFC Equity fund
• Reliance Gold Savings fund 

Note: For the purpose of calculations Return on Equity Mutual Fund is assumed to be 11% (average) on annual basis

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The Yogi