I will answer the question with a few additional pointers to address any one else's concerns on the same topic. The things to consider are: 1) What is your time horizon? In your case, with 15 years, it is long enough that you may consider holding some defensive equities. For shorter time horizons, equity holdings may put your investment capital at risk. Equity funds (UT) maybe an alternative to direct investment in equities as well if you are not certain what equities to buy or are only able to allocate a certain amount monthly to build your capital. Fixed income can comprise the rest of your portfolio so as to balance things out. 2) What is your risk appetite? This will determine your allocation of equity/fixed income. The less risk you are able to take, the more your portfolio should shift towards fixed income. Fixed income options may include short duration bond funds, or Singapore Saving Bonds, or bonds such as Astra V. 3) Would a guarantee on part of your funds give you a peace of mind? Then a suitable endowment plan with decent guaranteed returns would form part of your portfolio, ensuring that you have a certain amount of funds ready for at least the school fees, regardless of market conditions when your child commences university. The endowment also has the advantage of having a minimum return with potential upside. However, for these to work well, the duration of the endowment will have to be more than 10 years. Alternatively, short term endowments may be an option. 4) Liquidity. Another consideration is the amount of liquidity that you need to have. One of the on-going costs of university are the daily expenses. To that end, ensure that the portfolio constructed has ample liqudity if your child needs an injection of funds for purchases such as textbooks or laptop. Stocks/UT can be liquidated within days, SSBs take up to a month, and endowments are meant to be held to maturity. Combining all these together will yield a blended portfolio that should adequately address your concern. Re-balancing to take profits is also an important part of the strategy. As an example, an endowment plan can form the basis for ensure funds for the bulk of the school fees, defensive blue chips may provide dividends for daily expenses and unit trusts may provide potential capital appreciation to take care of anything else, expenses wise. The allocation will depend on the 4 factors mentioned above.