Should I go for Reliance Banking and Healthcare? Akshay, 29 Dec 2012

I have some funds in SBI ELSS and SBI contra since 2007. I like to switch over to Reliance Banking and UTI Pharma & Healthcare funds. Is it ok?

Fintotal Answer

Akshay you do not need so many funds to achieve your financial goals. Its good that you are exiting from SBI Magnum Contra Fund beacuse it is a poor performing fund so you can invest this money in a better performing fund like IDFC Premier Equity Fund or a good large cap fund for needs occurring after 5 years. SBI Taxgain Fund is an average performing fund so you can divert this to any good ELSS fund. Avoid investing in sector funds. Refer articles Choosing appropriate MF and Ideal Number of Investments in your portfolio.

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