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We all have dreams and desires, but most of us do not plan our investments according to our goals. The investments are made with a single minded focus on maximizing returns. This often leads to investment mistakes, like trying to time the market. Goal Systematic Investment plan helps the investors to make SIP investments with an objective to meet a pre-assigned Goal like Child education, Marriage, home, retirement etc.
The following are different types of goals. The below list is indicative and depends on life stage and ambitions of each individual.
1-3 Years
Foreign Vacation
3-5 years
Buying a car
Starting a business
More than 5 years
Retirement
Children’s Education
Children’s Marriage
Before listing your goals, you need to prioritizing them so that you can plan important goals first. Also your goal should be SMART
For instance, "I wish to accumulate Rs. 25 lakh by 2025 to fund my kid's higher education", is an example of a SMART goal.
Also consider inflation, while computing the future value of your goals. Assuming the current cost of
funding your daughter's education is Rs. 5 lakh. After five years, you would require Rs. 6.38 lakh, assuming an inflation rate of 5%.
Hence, you should work with your financial advisor to review your goals, say annually
and update for any major life changes.
Goal based investing adds a direction to an investment. It is a well thought out and structured process where you know the purpose of why each rupee is being invested. The performance of Goal based Plans is measured by how successful are the investments in meeting an individual’s lifestyle and personal goals, discouraging investor’s short-term impulsive actions.
An investor can specify the target value for his/her goal while making his investments. He can choose from any of the existing schemes of Mirae Asset Mutual Fund to invest his/her savings on a periodic basis, by way of Systematic Investment Plan (SIP) with intent to meet the defined goal. By starting your Goal SIP, you avoid the hassle of aiming for appropriate market timing, along with the added advantage of compounding and long term wealth creation.
Type | Name of Scheme | Eligibility |
Equity | Mirae Asset Large Cap Fund | Yes |
Mirae Asset Emerging Bluechip Fund | Yes | |
Mirae Asset Great Consumer Fund | Yes | |
Mirae Asset Healthcare Fund | Yes | |
Mirae Asset Focused Fund | Yes | |
Mirae Asset Midcap Fund | Yes | |
Mirae Asset Tax Saver Fund* | Yes | |
Mirae Asset Arbitrage Fund | Yes | |
Mirae Asset Equity Allocator FoF | Yes | |
Balanced | Mirae Asset Equity Savings Fund | Yes |
Mirae Asset Hybrid Equity Fund | Yes | |
Debt | Mirae Asset Cash Management Fund | Yes |
Mirae Asseet Overnight Fund | Yes | |
Mirae Asset Dynamic Bond Fund | Yes | |
Mirae Asset Savings Fund | Yes | |
Mirae Asset Short Term Fund | Yes | |
Mirae Asset Banking & PSU Debt Fund | Yes | |
ETF | Mirae Asset NIFTY 50 ETF | No |
Mirae Asset NIFTY Next 50 ETF | No | |
* Each installment in Mirae Asset Tax Saver Fund will be locked in for 3 years
For the list of schemes which are eligible for this facility and other terms and conditions, please refer to the facility form.
