Am I investing in right mutual fund schemes?

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I have been investing in the following mutual fund schemes through monthly SIPs for the last one year:

Rs 5,000 in Aditya Birla Sun Life Tax Relief'96 Fund Growth-Regular Plan
Rs 4,000 in DSP Tax Saver Fund - Regular Plan – Growth
Rs 5,000 in Franklin India Smaller Companies Fund – GROWTH
Rs 2,500 in HDFC Equity Fund - Regular Plan – Growth
Rs 2,500 in HDFC Top 100 Fund - Regular Plan – Growth
Rs 6,000 in UTI Mid Cap Fund-Regular Growth Plan

I am also investing Rs 5,000 monthly in NPS, PPF and SSY.
Please review my portfolio. I want to continue with this for 10-15 years.
-Bhaskar Mehra

Rishabh Parakh, Founder, Money Plant Consultancy, responds:

It is good to know that you are investing for the long term and already created a diversified portfolio, which also includes ELSS funds to help you with the tax savings. You can replace HDFC Equity Fund and Franklin Smaller Companies Fund with Kotak Emerging Equity Fund or Axis Midcap Fund and Mirae Asset Focused Fund. Before you do that, focus on doing your comprehensive financial planning and link each of your financial goal to your SIPs and other investments in SSY and PPF, etc. This will help you to achieve your long term financial goals like kids' education, their marriage and your retirement planning.

You need to also do your math in the coming financial year about whether to continue investing in the ELSS , PPF or SSY because of the new tax regime. Please note that these financial products work as a committed savings and provide good risk-adjusted returns in the long term, so do your math properly.
HDFC Equity Fund-Growth ★★★★★
  • 0.92%Annualized Return for 3 year
  • >3 years Suggested Investment Horizon
  • 3.0 YearsTime taken to double money
  • 3.88%Annualized Return for 3 year
  • >3 years Suggested Investment Horizon
  • 3.8 YearsTime taken to double money


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