Mutual fund portfolio to create Rs 20 lakh in five years

I am retiring shortly and I want to start an SIP of Rs 30,000 per month for five years. My aim is to create a corpus of Rs 20 lakh. Where should I invest? How should I create a mutual fund portfolio?

-- Ramesh Yadav

Rishab Parakh, founder, Money Plant Consultancy, responds:

It is evident that the corpus you want to accumulate is for your retirement. If you invest Rs 30,000 via an SIP, assuming an annual return of 10 per cent, you would be able to create a corpus of Rs 23 lakh. This is more than your desired corpus.

Looking at the financial goal and retirement age, you should invest in two balanced schemes, two largecap schemes, and a multicap sheme. For largecap schemes, you can consider ICICI Focused Bluechip Fund, Axis Bluechip Fund, or SBI Bluechip Fund. For multicap scheme, you can consider SBI Magnum Multicap Fund. For balanced schemes, you can consider HDFC Hybrid Equity Fund or ICICI Prudential Balanced Advantage Fund. Also, you should review your portfolio regularly.