Ask Money Today: which are the best mutual funds to invest Rs 2,000 per month?

What are the best mutual funds to invest Rs 2,000 per month? I am not looking for tax savings. I want to invest for my wealth creation. I already invest Rs 1,000 per month in my bank's recurring deposit. Now I want to get into equities.

-Riddhi Bhola

By Divam Sharma, Co-Founder, Green Portfolio, SEBI Regd. Portfolio Management Services

Considering that you want to invest in equity mutual funds and that you are beginning to invest, you can start by investing in ICICI Pru Sensex Index Fund (G) and DSP Midcap Fund (G). This way you will have exposure to the index at a low expense ratio and will give you exposure through midcap stocks which will ensure higher returns in the longer term. Investing through a systematic investment plan or SIP is the best way to create wealth through equity mutual funds. You can increase your SIP amount basis increase in your investable income.

You should track your mutual funds' factsheet on a monthly basis and should rebalance your portfolio whenever required.

You can also consider taking advice from a SEBI-registered Investment Advisor to plan your financial goals and calculate your risk profile before investing.

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(Views expressed by the investment expert are his/her own. E-mail us your investment queries at askmoneytoday@intoday.com. We will get your queries answered by our panel of experts.)