Do I need to make changes to my mutual fund portfolio?

I am 32 years old. I have been investing Rs 13,000 through SIPs across different MFs for the last six months. I am of moderate to high-risk appetite. I am looking to make Rs 10 lakh in the next three to five years as a short- term goal. Can you suggest if I need to make any changes to my portfolio? Also, I am planning to invest another Rs 7,000 through SIPs.

ICICI Prudential Technology Fund: Rs 2,000/month
Mirae Asset Tax Saver Fund: Rs 2,000/month
Axis Small Cap Fund: Rs 2,000/month
Edelweiss Balanced Advantage Fund: Rs 2,500/month
UTI Nifty 50 Index Fund: Rs 2,000/month
ICICI Prudential Constant Maturity Gilt Fund: Rs 2,500/month
--Vishnuvardhan

We always tell our readers to choose their mutual fund schemes based on their goals, horizon, and risk profile. However, when you are investing for the short-term goals, your priority should be to preserve the capital as you don't have the time to recoup the losses. You should always stick to safer options like bank deposits and debt mutual funds to take care of goals that need to be achieved in three years.

You have chosen mostly equity schemes that invest in stocks. Stocks are always risky and volatile, especially in the short term. That is why they are only recommended to long-term investors with a high risk appetite. You should seek the help of a mutual fund advisor if you don't understand the basics of mutual funds and investing. If the stock market gets into a bad phase and takes time to recover, you may suffer losses and you will have trouble achieving your goal.