How do I plan for my daughters’ higher education, wedding by investing in MFs?

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I have two daughters elder one is 17 years and the younger one is 13 years. I am investing money in mutual funds scheme. I have invested via systematic investment plans (SIPs), which is about 37,500 in several schemes. Now, I am planning for my daughters’ study and marriage. I am working in a private company and my monthly income is 1 lakh.

My investments are in Kotak Mahindra mutual fund, Nippon India ( 2000 each), DSP Small cap Fund Regular plan, IDFC Flexi cap growth fund regular plan, Mirae asset emerging service fund regular, SBI Banking finicial services fund regular, SBI Flexi cap fund regular plan growth, SBI Mangnum mid cap fund regular, SBI Saving fund regular, SBI Small cap, SBI Technology opportunities regular, Tata digital india regular, UTI Valur opportunities regular ( 2500), Aditya Birla Sun Life mutual fund and L&T Mutual fund ( 3000 each). Besides, in LIC, I am paying more than 1 lakh in the year.

-Name withheld on request

You are making a monthly SIP investment of 37,500 in equity and debt-oriented schemes to create a healthy corpus over a period of time. The question seems to be incomplete as there are many scehmes with improper names in the question (instead of the schemes’ name, the name of AMC is mentioned). As far as the existing portfolio is concerned, you can continue your SIP with Mirae Asset Emerging Bluechip Fund and UTI Value Opportunity Fund.

There are many funds in the portfolio which are thematic/sectoral in nature and are not advisable for SIP. You can think of rebuilding the portfolio through a healthy mix of Large & Mid Cap, Flexi Cap, Multi Cap, Mid Cap and Value category of equities. Suggested funds are HDFC Large & Mid Cap Fund, Axis Growth Opportunity Fund, Canara Robeco Flexi Cap Fund, Parag Parikh Flexi Cap Fund, Nippon India Multi Cap Fund, Kotak Emerging Equity Fund, PGIM India Mid Cap Opportunity Fund and IDFC Sterling Value Fund. This way your portfolio will be diversified across the category, geography and AMCs. It is advisable to review the portfolio atleast once in a year.

– Sanjiv Bajaj, joint chairman and MD, Bajaj Capital. 

(Queries and views at mintmoney@livemint.com)

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