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Should I add more mutual funds to my portfolio?

If you have any mutual fund queries, message on ET Mutual Funds on Facebook. We will get it answered by our panel of experts.

ET Online|
Jul 15, 2019, 05.09 PM IST
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I am 28 years old and married. I have been investing Rs 15,300 per month in the following mutual funds for the past two years. I have a medium risk profile.

Axis Long Term Equity Fund: Rs 2,500
DSP Equity Opportunities Fund: Rs 2,000
DSP Midcap Fund: Rs 3,000
Franklin India Taxshield Fund: Rs 2,500
L&T Midcap Fund: Rs 2,000
Mirae Asset Large Cap Fund: Rs 1,300
SBI Bluechip Fund: Rs 2,000

Kindly suggest any corrections or additions to my mutual fund portfolio.
--Poreddy Shankar

Rishabh Parakh, founder, Money Plant Consultancy, responds:

Since you are young and married, you need to first decide your financial goals and then create a portfolio to achieve those goals. The current mix, however, can be changed to include some of the funds which have a chance to perform better over a long period. You can replace DSP Equity Opportunities Fund and DSP Midcap Fund with Kotak Emerging Equity, ICICI Prudential Bluechip Fund or Axis Bluechip Fund. If the lock in period of three years has been completed for the ELSS schemes, then same can be redeemed and reinvested in a better multi cap or a mid cap combination.
(If you have any mutual fund queries, message us on ET Mutual Funds on Facebook. We will get it answered by our panel of experts.)

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