Are these funds good to fund my son’s education?

I have invested via SIPs in following mutual fund schemes:

Mirae Asset Emerging Bluechip Fund (regular, growth): Rs 2,000
Reliance Small Cap Fund (growth): Rs 1,000
Birla Sun Life Pure Value Fund (growth): Rs 1,000
Sundaram Select Midcap Fund (direct, growth): Rs 1,000
Kotak Midcap Fund (Regular, growth) Rs 1,000

I am investing via SIPs for the first time. I want to know whether the above mentioned mutual funds are good for long term like 10 to 15 years. I have invested in them for my son's education purpose. Also, I want to start a new SIP for Rs 1,000 to 2,000 for two years. Which is the best scheme with high returns? Please suggest

--Sandeep Tivari

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Deepesh Mehta, Certified Financial Planner, Grow Wealth, responds:


You are investing in too many funds. Also, these funds are skewed towards midcaps and smallcaps. I think you have selected funds purely based on their past performance. This is not recommended. Ideally, your portfolio should have a blend of good largecap fund, midcap fund and balanced fund which is currently missing.

If you wish to start a new SIP and if it is for just two years, you should not invest in equity funds.

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