My questions are:
1. Are these funds good? Are they good for the long-term horizon of 10 years or more? Or should I sell them?
2. I want to invest more money in mutual funds. I am looking for schemes other than ELSSs for my long term goals like child’s education, his/her marriage and my retirement. Please suggest me some good mutual funds.
As you would know, ELSS schemes with a mandatory lock-in period of three years. You can redeem them only after the completion of the lock-in period. Keep track of the performance of the schemes. If you find them underperforming both their benchmark and category for a long period, you may consider selling these schemes and transfer the money to a better performing equity mutual fund scheme in line with your risk profile.
Two, you should always choose your mutual fund schemes based on your goals, investment horizon and risk profile. For example, if you are a conservative equity investor, you should choose largecap schemes to achieve your long-term financial goals. However, if your risk profile is moderate, you should invest in multicap schemes. Aggressive investors can choose midcap and smallcap schemes to achieve their long-term financial goals. Since you have not shared your risk profile with us, it is not possible to recommend any mutual fund schemes to you.
You may take a look at our recommended equity mutual fund SIP portfolios. For more, read: Best mutual funds to invest in 2018