I earn one lakh rupees a month and I wish to invest in mutual funds. At present, I have no exposure to equity. I am paying a home loan of Rs 35,000. Can you please advise me on the amount and type of mutual funds I should invest in? My goal is to create a corpus of Rs 15 lakh in two to three yars. I have a medium risk appetite.
-- Naresh Shendge
Raghvendra Nath, managing director, Ladderup Wealth Management, responds:
You have not mentioned the surplus funds available after your monthly household and other expenses. Assuming you have Rs 30,000 surplus every month for next three years, @15 per cent p.a. return, you can reach a corpus of approx. Rs 13.5 lakhs at the end of three years. Ideally equity investments should have an investment horizon of three year +.