Have I invested in a good mix of schemes?

My current mutual fund portfolio consists of the following schemes:
Aditya Birla Sun Life Small & Midcap Fund (Regular - Growth)
DSP BlackRock Small and Mid Cap Fund (Regular - Growth)
SBI Magnum Midcap Fund (Regular - Growth)
Mirae Asset Emerging Bluechip Fund (Regular - Growth)
L&T Emerging Businesses Fund
Canara Robeco Emerging Equities Fund
I am looking to hold two to three of them for 10-15 years, while three for a short-term of five years. Please suggest if this is a good mix.
--Ankith Menon

Puneet Oberoi, certified financial planner, responds:


You are holding too many similar schemes. The stock holding of all these funds are some what similar.

My suggestion is to move at least 30 per cent of the portfolio in largecap schemes like Kotak Select Focus Fund, ICICI Prudential Focused Bluechip Equity Fund and Aditya Birla Sun Life Frontline Equity Fund.

You can stop investing in SBI Magnum Midcap Fund and Canara Robeco Emerging Equities Fund.