Can I invest in Nippon India Nivesh Lakshya and Kotak Gold Fund?

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I am 22 years old. My salary is Rs 25,000 per month. I would like to invest for my short-term goals like travelling and some family commitments. I am also looking to invest for long-term wealth creation. My horizon is 10 to 15 years. My monthly expenses are Rs 7,000. I am also giving Rs 10,000 to my family. Please suggest me the best investment plans for both my short-term and long-term goals.

Should I invest in Reliance Nivesh Lakshya Fund and Kotak Gold Fund for my short term goals? Also, is P2P good for short term?
--Nalin Kumar


Vishal Dhawan, Founder, Plan Ahead Wealth Advisors, responds:

HDFC Equity Fund-Growth ★★★★★
  • 10.93%Annualized Return for 3 year
  • >3 years Suggested Investment Horizon
  • 3.0 YearsTime taken to double money
  • 14.7%Annualized Return for 3 year
  • >3 years Suggested Investment Horizon
  • 5.9 YearsTime taken to double money
Both the schemes, Reliance Nivesh Lakshya Fund (now, Nippon India Nivesh Lakshya Fund) and Kotak Gold Fund, are designed for long-term investments. Long-term bonds and gold can be volatile in the short term. For your short term goals, you can invest in a low duration fund like ICICI Prudential Savings Fund.


Peer to Peer (P2P) is a form of lending that is fit for investors who have already built up a wealth cushion through other products like debt mutual funds and bank deposits, and looking to supplement that portfolio with returns that could potentially deliver a higher return - albeit with a higher level of risk.

You may add P2P to your portfolio once you have built the cushion. You may invest in a multi cap fund and an index fund for your long-term wealth creation. I would recommend HDFC Equity Fund and IDFC Nifty Fund for your long-term goals.
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