Is my mutual fund portfolio in line with my risk profile?
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Parag Parikh Long Term Equity Fund
Kotak Standard Multicap Fund
Invesco India Contra Fund
Mirae Asset Emerging Bluechip Fund
Franklin India Prima Fund
I am also investing in two ELSS funds:
Aditya Birla Sun Life Tax Relief 96
Mirae Asset Tax Saver Fund
Please let me know whether these funds are in line with my risk appetite. I have added a large & mid cap and mid cap fund as I have more than 15 years for most of the goals. All the funds are in direct plan, growth option.
Rishabh Parakh, Founder, Money Plant Consultancy, responds:
You have an overall balanced portfolio in line with your risk profile. The only missing point is the amount linked to each goal. At least, you have not mentioned it. I believe you must have done it already. If not, you must do a comprehensive financial planning first. After that selecting the right mutual fund schemes becomes easier. Also, it becomes easier to calculate the SIP investments needed to achieve your long-term financial goals. You should opt for relatively less riskier investment options for goals like your children's marriage. The only change I would suggest on the basis of the information given in your question is to replace Franklin India Prima Fund with Kotak Emerging Equity Scheme.