How to create a big corpus for an early retirement?

I am 30 years old. I am investing Rs 12,000 via monthly SIPs from last one and a half year. I want to create a big corpus for an early retirement at 50 years. My schemes are:
1. Franklin India Smaller Companies Fund (G)
2. Reliance Pharma Fund (G)
3. DSP BlackRock Tax Saver Fund (G)
4. Franklin India Taxshield Fund (G)
5. ICICI Prudential Long Term Equity Fund (Tax Saving) (G)
6. Motilal Oswal MOSt Focused Long Term Fund (G)
Please review my investment portfolio.
--Kabir Mishra

Ankita Narsey, a mutual fund advisor, responds:


Your portfolio is more skewed towards ELSS funds. You can diversify into various other equity funds such as multicap funds and largecap funds. Trim down your exposure to just two ELSS funds in DSP BlackRock Tax Saver Fund and Franklin India Taxshield Fund.

Reliance Pharma Fund is a sector fund. Since sector funds are exposed to a single sector and only a handful of stocks, they carry a higher risk than diversified equity funds. I would advise you to limit the exposure to sector funds. Sector funds should be used from a strategic point of view and should not be a part of your core holdings. SIP approach might not serve well in these funds.

You can consider starting an SIP in diversified equity fund such as ICICI Prudential Value Discovery Fund, Franklin Higher Growth Companies Fund and SBI Magnum Multicap Fund.

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