Is my mutual fund portfolio well diversified?

I am 25 years old. I earn Rs 60,000 per month. I have been investing Rs 5,000 every month each in ICICI Large Cap Fund, HDFC Mid-Cap Opportunities Fund, Aditya Birla SunLife Fund, Reliance Small Cap Fund and in an ELSS or tax saving fund. My risk profile is moderate. Kindly suggest if my portfolio looks fine? Do I need to make any changes to it? Is it well diversified?
--Rajendar Bhardwaj

Veena Malgonkar, certified financial planner, KM Wealth Solutions, responds:

I am not clear which Aditya Birla SL scheme you have invested in. I appreciate you for starting early and investing over 40% of your salary. This would allow you to retire early. You should have a corpus of over Rs 5.5 crore by the age of 50 years. The funds you have chosen too appear to be well diversified.


However in this period of 25 years there will be economic and market cycles. There will be times when the markets could be highly over-valued and hence booking of some profits and re-entering the markets when inevitable correction happens will be a good idea. That would create some alpha on your portfolio.