Everyone’s portfolio is different. That is how it should be. Why? Because your risk profile and financial goals are different from the next person’s. That doesn’t mean there wouldn’t be anything in common. In fact, the basics are usually the same. So, for instance, all of us have a savings bank account. Most salaried employees would have an Employees’ Provident Fund or a National Pension System investment. Few may have a consultant agreement with their employers that gets them a service tax-deducted lump sum cheque at the end of every month, on which they pay tax.
Likewise, when you invest in mutual funds (MFs), there are certain basic schemes that need to be there in almost everyone’s portfolio. These are schemes that serve basic needs—be it to build an emergency fund or to save taxes every year. Let’s take a look at them.
