Is the Birla Sun Life Mutual Fund SIP Divident-re investment plan works better?

Helo Sir,

Iam a serving Air warrior of Indian Air Force. I donthave
much savings in my kitty.I have a daughter aged about 2 1/2years. I
want to give her a bright future. Till date i have not taken any policy on her name. Iam thinking to opt any SIP based M/Fs instead of going 4 LIC policies. Recently i opted BIRLA SUNLIFE EQUITY FUND -divident re-investment scheme and started investing 1000/- rs per month. Was this a good move? I have already madeup my mind to invest in this 4 atleast 15 yrs.Please advise me in this regard.

I am also planning to invest 20000/- rs in Mutual fund for
a period of 5 years. Please advise me to opt a good one to yield good returns and play safe,as i cant loose my hard earned money.

please advice

is Birla Sun life short term fund good?

I got to know it is open ended(liquid) fund which uses money in daily bank transactions. It gets returns on one day basis which is 7-8% and no tax on return. this is benifit over FD. Similar Reliance fund is there in market ‘Reliance Liquid Treasury’. please give ur suggestion on this.