Rahul studied the account statement of his mutual fund investment with a sinking heart. He had started an SIP investment in a multi-cap fund 10 years ago to save up for his daughter’s education. The account statement showed the current value of his investment at ₹ 86.92 lakh. The US-based university in which his daughter had received admission had sent Rahul the request to pay up $ 1,36,318 (₹ 1 Crore). He had a gap of ₹ 13.08 lakh. Where would he get the money from? Would his daughter have to sacrifice her education because he had not been able to accumulate sufficient funds? Rahul computed the CAGR returns over the last 10 years of the multi-cap fund and found that it had generated a modest 8 per cent while the Nifty 500 benchmark index had generated 10 per cent during the same period.
Nine big financial changes that you must watch out for in October
Read More