Should I make any changes to my mutual fund portfolio?

I am a 33-year-old IT professional with a high risk appetite. I have a one-month-old daughter. I have considered the inflation in calculating my goals. My goals are:

- Rs 1.2 crore to pay off home loan in 10 years
- Rs 50 lakh for my child's higher education after 15 years
- Rs 40 lakh for my child's marriage after 25 years
- Rs 1 crore for my retirement after 22 years

Since last one year, I have been investing in direct plan of the following mutual fund schemes per month:

Multicap - Kotak Standard Multicap Fund : Rs 4,000
Multicap - Motilal Oswal Multicap 35 Fund : Rs 2,500
Aggressive Hybrid- HDFC Hybrid Equity Fund : Rs 3 ,500
Smallcap - Franklin India Smaller Companies Fund : Rs 5,000
ELSS : Axis Long Term Equity : Rs 1,500

I am planning to increase my monthly investments by Rs 15,000. Kindly advise if I need to make changes.
--Shashi Kumar

Shweta Jain, founder, Investography, responds:

You need to start saving more. For your child's goals and your retirement goals, Rs 20,000 per month is what you should save. However, for the home loan- you will need to save almost 53,000 per month as the time you have for it is less. The portfolio is skewed towards small and midcap. There is also no need for the HDFC Hybird Equity Fund if your time horizon is above 10 years. You could reshuffle your portfolio as below:


Multicap - Kotak Standard Multicap Fund : Rs 10,000 per month
ICICI Pru Nifty Next 50: Rs 12,000 per month
Smallcap - Franklin India Smaller Companies Fund : Rs 8,000 per month
ELSS : Axis Long Term Equity Fund : Rs 1,500 per month.