Many mutual fund companies run special schemes for children. These schemes have given substantial returns.
If these mutual fund schemes are used properly for children, then they can be made millionaires even before they are employable. If we look at these mutual fund schemes specially for children, then while they have given returns of up to 50 percent in a year, on an average, they have given returns of up to 15 percent in 5 years.
Know how children will become millionaires
These mutual fund schemes have given returns of up to 15 per cent in an average year over a long period of time. In such a situation, if it is assumed that only 12 percent return will be given on an average every year, then the children will become millionaires comfortably at the age of getting the job i.e. 25 years. For this you have to invest only Rs 5000 per month (Mutual Fund SIP). But if you want your child to become a millionaire as soon as he attains the age of 18 years, then you have to invest around Rs 13000 per month. This investment can be made in the name of the child or in his own name. Also Read: The hassle of running out of data every day is over! Jio gives 50GB data, know details of Airtel and VI plans
Let us know which are those mutual fund schemes, which can make children millionaires. Apart from this, know the opinion of financial market experts.
This is the first mutual fund scheme to invest in the name of children
UTI CCF- Investment Plan Mutual Fund Scheme has given a return of 51.92 per cent in 1 year. Calculation of returns on the basis of NAV as of 25 Aug 2021.
Here are the other mutual fund schemes to invest in the names of children.
Tata Young Citizen Mutual Fund Scheme has given a return of 51.53 per cent in 1 year. Calculation of returns on the basis of NAV of 25 Aug 2021.
This is the third mutual fund scheme for investment in the name of children
HDFC Children Gift Investment Plan Mutual Fund scheme has given a return of 41.23 per cent in 1 year. Calculation of returns on the basis of NAV of 25 Aug 2021.Also Read: Dhansu Offer: Pre booking of JioPhone Next is starting from next week, with 2500mAh battery, the phone gets this much MP camera
This is the fourth mutual fund scheme for investment in the name of children
Axis Children’s Gift Mutual Fund Scheme has given a return of 36.31% in 1 year. Calculation of returns on the basis of NAV of 25 Aug 2021.
This is the fifth mutual fund scheme for investment in the name of children
LIC MF Children Mutual Fund Scheme has given a return of 32.78 per cent in 1 year. Calculation of returns on the basis of NAV as of 25 Aug 2021.
This is the sixth mutual fund scheme for investment in the name of children
Aditya Birla Sun Life Bal Bhavishya Yojana Mutual Fund Scheme has given a return of 26.02 percent in 1 year. Calculation of returns on the basis of NAV as of 25 Aug 2021.
This is the seventh mutual fund scheme for investment in the name of children
SBI Magnum Children Benefit Mutual Fund Scheme has given a return of 23.68 per cent in 1 year. Calculation of returns on the basis of NAV as of 25 Aug 2021.
Know the opinion of financial market experts
AK Nigam, director, BPN Fincap, says that many children’s mutual fund companies run special schemes. If invested in these for a long time i.e. from 15 years to 20 years, then a huge fund can be created for children. According to them, the longer the investment in mutual funds, the better it is considered. Therefore, if the investment is started at the birth of the child, then by the age of 18 to 25 years of the child, he can be made a millionaire comfortably.
