List of New Mutual Fund recommendations by Goalwise for FY 2017-18


The new Financial Year is here and so are the new mutual fund recommendations by the Goalwise team. The past financial year was positive for our selected funds but we must keep them updated. Accordingly, we have replaced the lesser performing funds by better ones and also increased the overall number of recommended funds for our investors.

Why have some funds been changed even though they were doing well?

In our selection algorithm we give weightage to both near term and longer term performance so although funds like Birla Sun Life MNC Fund and Axis Long Term Fund's past returns are high, they are getting edged out because of their lagging 1 year performance. They are still good funds and will feature in the top 10, just that in our ranking of top 3-4 they have been edged out by the newer better performing funds.

We have also increased the overall number of recommended funds for our investors.

Now the recommended funds list has 18 funds in total - 3 Tax Saver Mutual Funds (ELSS), 9 equity funds for different risk profiles and 6 debt funds for different goal types and different risk profiles.

Tax Save (ELSS under section 80C of the IT Act):

  • Reliance Tax Saver Fund
  • DSP Blackrock Tax Saver Fund
  • Birla Sun Life Tax Relief 96 (New)

Equity:

Risk: Low

  • Birla Sun Life Frontline Equity Fund
  • Mirae Asset India Opportunities Fund (New)
  • DSP BlackRock Focus 25 Fund (New)

Risk: Moderate

  • ICICI Prudential Value Discovery Fund
  • Kotak Select Focus
  • Birla Sun Life Equity Fund (New)
  • L&T India Value Fund-Regular Plan (New)

Risk: High

  • ICICI Prudential Value Discovery Fund
  • L&T India Value Fund-Regular Plan (New)
  • DSP BlackRock Micro Cap Fund (New)
  • Mirae Asset Emerging Bluechip (New)

In case the above two mid & small-cap funds are not available for fresh purchases then the next best are:

  • Canara Robeco Emerging Equities
  • Birla Sun Life Small & Midcap Fund

Debt:

There have been no changes in the selection of debt funds.

Risk: Low/Moderate/High

  • Reliance Medium Term Fund - Growth
  • Birla Sun Life Short Term Fund - Growth

Smarter Savings (substitute for savings account or FD; no exit load):

  • Baroda Pioneer Treasury Advantage Fund - Growth
  • IDFC Ultra Short Term Fund-Growth
  • SBI Ultra Short Term Debt Fund - Growth

Emergency Goal (Liquid funds with Instant Redeem option):

  • Reliance Liquid Fund - Treasury Plan

These are the funds that are currently recommended by Goalwise for the FY 2017-18. They are chosen based on our market-beating fund selection strategy and suitability for the goal under which they are provided. We update this list once every year in April - at the beginning of the new financial year.

We also allow our investors to choose their own funds while investing (but we do not encourage it since we won't know when to replace custom selected funds if they start doing poorly - so in effect such goals then go out of the purview of our advisory for rebalancing/switching etc). We have online tie-ups with the following Mutual Fund companies and all of their funds are available with us:

Axis Mutual Funds
Baroda Pioneer Mutual Funds
Birla Sun Life Mutual Funds
Canara Robeco Mutual Funds
DSP Blackrock Mutual Funds
Edelweiss Mutual Funds
Franklin Templeton Mutual Funds
HDFC Mutual Funds
ICICI Prudential Mutual Funds
IDFC Mutual Funds
Invesco Mutual Funds
Kotak Mutual Funds
L&T Mutual Funds
Mirae Mutual Funds
Motilal Oswal Mutual Funds
PPFAS Mutual Funds
Reliance Mutual Funds
SBI Mutual Funds
TATA Mutual Funds
UTI Mutual Funds

You can also see this list (and the brokerage we receive from them) on
https://www.goalwise.com/commission

Let us know in the comments if there is some fund that you would like to see here. :)