Which mutual fund schemes should you choose to invest Rs 10,000 for 5 years?

I am 44-year-old, working in a bank and my gross income is Rs 70,000 per month. I have 4 SIPs of Rs 5,000 each in Axis Mid Cap Fund, Mirae Asset Large Cap Fund, Kotak Multi Cap Fund (now called Kotak Flexi Cap Fund) and DSP Equity Opportunities Fund. I want to do another SIP of Rs 10,000 for 5 years. Can you suggest the best scheme and also share your comments on my portfolio.

--- Roopashree Hc

Chokkalingam Palaniappan, Director, Prakala Wealth, a wealth management firm based in Chennai responds:

Your existing portfolio is good to continue. At this point of time, you may consider fresh SIPs in Dynamic Asset Allocation Funds. They are also known as Balanced Advantage Funds. They move the equity allocation according to the market conditions. Hence, these funds come with less risk. You may invest monthly Rs. 10,000 either in Edelweiss Balanced Advantage Fund or Union Balanced Advantage Fund.