Am I choosing the right mix of funds?

I am 38 years old and I want to create wealth to support my retirement, studies and marriage of my two daughters (2.5 years old and 6 months old).

My current investment on monthly basis are as below:
1. NPS - Rs 4,200
2. VPF - Rs 10,500
3. EPF - Rs 9,500
4. SBI Blue Chip Fund (G): Rs 3,000
5. Mirae Asset Emerging Blue Chip Fund (G): Rs 2,500
6. Birla Sun Life Equity Fund (G): Rs 2,000
7. Kotak Select Focus Fund (G): Rs 2,500
8. Motilal Oswal Focused Multicap 35 (G): Rs 1,000
9. Canara Robeco Emerging Equities Fund (G): Rs 1,000
10. L&T Emerging Business Fund (G): Rs 500
11. L&T midcap Fund (G): Rs 500

Currently I have Rs 20 lakh in my PF account.

I am paying Rs 1.5 lakh towards Sukanya Samriddhi Yojana for my first daughter for past two years.

I'm taking a home loan for Rs 42 lakhs and its repayment will start from January 2018 (EMI is Rs 4,0991).

I'm planning to close the home loan in eight years.

I do not have any other loans to repay.

My questions are
1. Am I choosing the right mix of mutual funds?
2.Suggest me mutual funds for my daughters with long term perspective.
3. Should I keep my investment in Sukanya Samriddhi Yojana to minimum as per the scheme and invest rest in mutual funds, instead of putting 1.5 lakhs in it.
--Nandakumar Kesavan

1. It is not possible to speak about your portfolio as you have not shared your risk profile with us. You have chosen good schemes. Just make sure that they are in line with your risk profile. Also, you have too many schemes in your portfolio. An average investor do not need more than four schemes.

2. For your daughters, you choose any open-ended equity scheme based on your goal, horizon and risk profile. You do not need special children’s plan for them.


3. Government-backed safe products always offer modest returns. If you want more returns to meet your target corpus and you can take the extra risk, you should consider investing in equity mutual fund schemes.