Radhika Gupta on benefits of starting SIP in your child's name
SIP in your child's name is that it not only helps teach good money habits later, but when the folio belongs to the child, one tends to be more goal-oriented and long-term," said Radhika Gupta, CEO of Edelweiss Mutual Fund. «One should ideally start this as soon as possible and for a specific goal,» she added.
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She posted on social media, “One of the things I've been talking about a lot is the benefit of starting an SIP in your child's name, ideally as soon as possible and for a specific goal. Not only does this help teach good money habits later, but when the folio belongs to the child, you tend to be more goal-oriented and long-term.”
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View Details» <div data-placement=«Mid Article Thumbnails» data-target_type=«mix» data-mode=«thumbnails-mid» style=«min-height:400px; margin-bottom:12px;» class=«wdt-taboola» id=«taboola-mid-article-thumbnails-118378334»>According to Sebi, children’s funds are schemes that have a lock-in period of at least five years or until the child attains the age of majority, whichever is earlier.
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In the last five years, children’s funds have offered an average return of around 12.62%. HDFC Children's Fund offered the highest return of around 16.40% in the last five years, followed by Tata Young Citizen Fund, which gave a 15.84% return during the same period.
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