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Will these mutual funds help me to create maximum wealth?

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|
Oct 23, 2019, 11.19 AM IST
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wealth23
I am 26 years old. I have recently started investing in the following mutual funds.
Kotak Tax Saver: Rs 10,000
Nippon India Large Cap Fund: Rs 8,000
Mirae Asset Large Cap Fund: Rs 7,000
Kotak Standard Multicap Fund: Rs 10,000
L&T Midcap Fund: Rs 5,000
HDFC Small Cap Fund: Rs 5,000

I keep a track of the market and make a lumpsum investment (not SIP) when I feel the market is low. My investment horizon is long (at least 7 to 8 years). My goal is to create maximum wealth. My risk profile is moderately aggressive. Are these schemes good? Do I need to make any changes to my portfolio?
--Ashutosh Bansal

Ankita Tanna Narsey, founder, Oaktree Financial Advisors, responds:

I understand that you are trying to time the market but I strongly recommend ‘NOT’ to do so. I would advise you to stick to SIP and be at peace, than trying to time the market every time.

A long-term investment horizon will definitely help you to reap better returns from equity markets. You are investing in good performing funds and can continue to hold them. Keep monitoring the performance of your portfolio at regular intervals. I would once again highlight the importance of systematic investment plan (SIP) as your regular investment tool.
(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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