Should I replace Axis Flexicap with UTI Nifty 200 momentum 30 Fund?

Please review my mutual fund portfolio. I am a 24-year-old and I can take risks. I started investing in February in the schemes given below.
Scheme Names:
- Axis Flexi Cap Fund – Rs 4,000,
- Axis Small Cap Fund – Rs 4,000,
- Axis Midcap Fund – Rs 4000,
- Axis Greater China Equity Fund of Fund – Rs 4000,
- Axis Nifty 100 Index Fund – Rs 4000,
- Mirae Tax Saver Fund – Rs 4000,
- Parag Parikh Flexi Cap Fund – Rs 4000,
- Canara Robeco Bluechip Fund – Rs 4,000,
- Kotak NASDAQ 100 Fund of Fund – Rs 4,000.

I will invest in Mirae Asset NYSE FANG+ ETF Fund of Fund after a few months. I am thinking of replacing Axis Flexi Cap Fund with UTI Nifty 200 Momentum 30 Index Fund.

--- Amit Singh

Neeraj Chauhan, Founder, The Financial Mall, based out of Delhi, responds:




Kudos to start your investment journey in these interesting times. The selected schemes are good to continue for an investment outlook of over 10 years. The essence of wealth creation lies in holding your investments with patience & discipline. I am sure you have your contingency funds and risk mitigation strategies along with asset allocation in place and this is a part of equity allocation. You should have a fixed income pay to balance out the high-risk equity investment.