Continuing with the previous post..
- Money Market / Liquid Fund / Income Funds: Main objective of this fund is to provide easy liquidity, moderate income and capital preservation. They generally invest in commercial paper, treasury bills, government securities etc. Returns in these fluctuate very less.
- Equity Linked saving schemes (ELSS): They are the open-ended growth schemes with 3 year lock in. This is the most popular scheme in today’s generation. It offers the benefit of Section 80 ( C ) of IT Act, up to a maximum of ` 100,000.
- Index Funds: They replicate any index that is Sensex or Nifty. These schemes invest in index securities in same weightage of an index. NAV will fluctuate as the index would.
- Sectoral specific Funds: Main objective of this fund is to invest in equities of a specific sector. For eg. FMCG sectoral fund would invest in companies like Hindustan Lever, Nestle etc…
Now that the types of funds and schemes are clear, let’s look at what documents are required.
- Application form : dully filled
- PAN card copy
- KYC which is just a one time requirement if you are investing above ` 50,000
Wanna know how to earn 1cr and plus by just investing `10,000 pm. for just 10 years?? Then be hooked on to my next few posts...
Just read "Don't Count on it" by john C Bogle and u will know how much returns an investor in mutual funds get with financial intermediaries taking away more than 50% of the returns generated.
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