In India, for some unknown reasons, most would-be investors are introduced to mutual funds through equity schemes which are high-risk in nature, while logic demands that they should first invest in low-risk funds like liquid and money market funds. From then on, ideally, the path should include introducing the first time investors to bond funds, balanced funds, and then -slowly -to various types of equity funds. The idea behind such a plan is to handhold the first-timers from low-risk schemes to the ones which carry higher risks.
In addition to investing in liquid funds, first-timers should also remember not to invest a large sum of money in one go. Rather, they should start with a small amount and invest regularly, say every month. As they do that, they should also get used to the various processes of investing and redeeming their money , like systematic investment plans (SIPs), systematic transfer plans (STPs) and systematic withdrawal plans (SWPs).They should also use technology like investing via SMSs, net-banking, ECS, etc. Along with these, such investors should also be educated about the virtues of long-term investing and tax advantages, among other factors.
Action Plan:
Start with low risk schemes and move up the risk-reward matrix h Invest regularly and in a disciplined manner
Get introduced to the SIP, STP, SWP modes of investing and use SMSs, net & phone banking, ECS, etc
1.ICICI Prudential Tax Plan
2.Reliance Tax Saver (ELSS) Fund
3.HDFC TaxSaver
4.DSP BlackRock Tax Saver Fund
5.Religare Tax Plan
6.Franklin India TaxShield
7.Canara Robeco Equity Tax Saver
8.IDFC Tax Advantage (ELSS) Fund
9.Axis Tax Saver Fund
10.BNP Paribas Long Term Equity Fund
You can invest Rs 1,50,000 and Save Tax under Section 80C by investing in Mutual Funds
Invest in Tax Saver Mutual Funds Online -
For further information contact Prajna Capital on 94 8300 8300 by leaving a missed call
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