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Have I chosen the right mutual funds for my retirement?

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ET Online|
Nov 22, 2019, 10.54 AM IST
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retirement plan
I am 32 years old. I have invested in the following mutual funds through SIPs for my retirement. Are these schemes suitable for my retirement or any changes required? I have 29 years for my retirement. I have a moderate to high risk profile.

Aditya Birla Sun Life Small Cap Fund: Rs 5,000
JM Multicap Fund: Rs 2,500
HDFC Top 100 Fund: Rs 1,000
Kotak Standard Multicap Fund: Rs 1,000
Mirae Asset Large Cap Fund: Rs 1,000
Franklin India Feeder Franklin US Opportunities Fund: Rs 1,000
HDFC Mid-Cap Opportunities Fund: Rs 1,000
Parag Parikh Long Term Equity Fund: Rs 1,000
ICICI Prudential Money Market Fund: Rs 100
ICICI Prudential Bluechip Fund: Rs 300
ICICI Prudential Savings Fund: Rs 100
Axis Bluechip Fund: Rs 500
--Ankit Singh

Your mutual fund portfolio lacks focus. The portfolio has too many schemes in it. You don’t need more than three to four schemes in your portfolio. Also, it is not clear why you are investing in an international fund, a money market fund, and low duration fund. You also shouldn’t invest in mid cap and small cap schemes, as these schemes are meant for aggressive investors with a very high risk appetite and ability to withstand volatility.

You should sharply define your risk profile and recast your portfolio. If you have a moderate risk profile, choose two good multi cap schemes like Kotak Standard Multicap Fund and Parag Parikh Long Term Equity Fund and invest in them to build your retirement corpus.

If you are unclear about investment and mutual fund basics, you should seek the help of a mutual fund advisor.

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