Ask ET Mutual Funds: Is my portfolio efficient?

I am investing Rs 1,000 per month via SIP in Sundaram Select Midcap Fund (regular, growth), Rs 500 per month in Sundaram Select Focus Fund (growth), Rs 1,000 per month in Franklin India Ultra Short Bond Fund. I have invested Rs 15,000 in Reliance Money Manager Fund which I intend to use as an emergency kitty. My plan is to invest around Rs 2,500 monthly and surplus money in some debt/liquid funds. Is the above portfolio efficient?
-- Aravind KN

Puneet Oberoi, Managing Director, ‎Excellent Investment Advisorz, responds:

As far as your earlier investments are concerned, you can continue with:

• Sundram Select Midcap Fund : Rs 1,000 per month - Small & Mid cap
• Franklin India Ultra Short Bond Fund : Rs 1,000 per month - Debt
• Reliance Money Manager Fund : Rs 15,000 per month

You can move from Sundram Select Focus Fund to any of these good large cap funds:

• Birla Sun Life Frontline Equity Fund
• HDFC Top200 Fund
• ICICI Prudential Focused Equity Fund

Now, for your new investment of Rs 2,500 per month, I am not aware of your goals or investment horizon. If you have a horizon of, say, three years, you can go for Birla Sun Life Medium Term Plan. If no, you can invest in liquid funds. You can go for any of these liquid fund:

• Franklin India Treasury Management Account Fund
• Birla Sun Life Cash Manager (regular, growth)
• IDFC Money Manager Fund- Treasury Plan (regular, growth)

(If you have any mutual fund queries, message ET Mutual Funds on Facebook. We will get it answered by our panel of experts.)