Question by Ram: Mutual Funds selection , asset allocation , investment advise?
I am 42, an NRI Engineer and my monthly saving is Rs.2 lakhs that I want to invest properly. I am working in middle east and my job security is reasonable , at least no threat for next 3 years.

I am adequately qualified to find some options in India , if required.

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.
(11,000 X 10 funds = One lakhs and 10 thousand per month)

1.Reliance Regular Saving Equity
2.Reliance Regular Saving Balance
3.Birla Sun life frontline Equity
4.Reliance Growth
5.HDFC Equity
6.HDFC Prudence
7.HDFC TOP-200
8.Birala Sunlife Mid cap fund
9.Birala Sunlife 95 Fund
10.IDFC Premier Equity Fund
11.Kotak-30 fund

Also SIP for two MIP each 20,000 per month so

20,000 x 02 = 40,000/-

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?

Best answer:

Answer by Italian girl
This question sounds awfully familiar. Haven’t I seen it somewhere before? I think one responder mention that there were an overly large number of funds that you had and you should trim them back to about 5. You are doing quite well with what you have, why so much worry?

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