Fund query: Equity-only portfolio not ideal for retirees
×
I am a 63-year-old retired person. My risk profile is moderate. I had a surplus amount of ₹45 lakh which I don’t need for the next 10 years. I invested it across three debt mutual funds in December 2020. I have started monthly Systematic Transfer Plans (STP) of ₹15,000 from each debt fund into the following equity funds for a period of seven years from January 2021. My source debt funds for the STPs are Mirae Asset Short Term, Axis Banking & PSU Debt and Kotak Low Duration Fund. My target equity funds for the STPs are Mirae Asset ESG Sector Leaders Fund of Fund, Axis Growth Opportunities and Kotak Pioneer. My aim is to grow the surplus amount at an annualised rate of inflation plus 3 per cent by the end of 10 years. Is my investment strategy and selection of mutual fund schemes on the right track?