I am 42, an NRI Engineer and my monthly saving is Rs.2 lakhs that I want to invest properly.
My current investment is as follow:
1.40 lakhs in mutual funs invested so far in mutual funds via SIPs
2.5 lakhs in gold
3.5 lakhs to relative with 1% interest
4.25 lakhs in NRE FD with interest rate of 3-4%
5.PPF- Rs.3.5 lakhs
6.MIS total Rs.5 lakhs
Currently investing one lakhs per month, Via SIP in the following mutual funds.
(10,000 X 10 funds = One lakhs per month)
1.Reliance Regular Saving Equity
2.Birla Sun life frontline Equity
7.Birala Sunlife Mid cap fund
8.Birala Sunlife 95 Fund
9.IDFC Premier Equity Fund
Please guide me for the following.
1.About asset allocation
2.Selection of funds
3.Where I should invest my remaining saving of Rs. One lakhs per month? I don’t need any money for next 6 years.
4.For debt investment, as an NRI what options are best – MIP? Debt funds?
Regards and I am really poor at finance