Are there any mutual funds for children’s education?
Children’s Mutual Funds are specially designed for those investors who want to invest for their child’s future. These funds come with a higher risk factor, but will provide higher returns allowing you to have an extra edge when it comes to beating inflation. Some funds offer special maturity benefits. Unlike the Sukanya Samridhi Yojana (SSY), you can invest for both your boys and girls. Also, you can invest in as many Mutual Funds as you want.
The SSY scheme can be opened for girl children up to the age of 10 years, whereas you can invest in Mutual Funds for your children with no age limit. NRIs can also invest in these Mutual Funds. Child funds that are available include:
ICICI Prudential Child Care
HDFC Children’s Gift Fund
TATA Young Citizens Fund
Franklin’s Children’s Asset Plan (CAP)
UTI Children’s Career Plan (CCP)
AXIS Children’s Gift Fund
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So good to know about Child mutual fund plans. Indeed it was a nice share for me because I too have been trying to learn all such things. Recently learnt about swp in mutual fund and how does it work. If there is any systematic withdrawal plan in Child mutual fund plans would love it.
As you are thinking to invest your funds through SIPs just to achieve the long term goals such as child education plan and retirement, you can consider investing in the Kotak mutual fund schemes with your risk profile. Also, you can look at the recommended mutual fund portfolios and select the best child education plan based on your profile & SIP amount.