Should I stop or consolidate my ELSS portfolio?

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I started SIPs in the following funds. I have been investing since the last five Years, with the intention of tax saving and to capitalize on my investments by continuing for 15-20 years or more:
Axis Long Term Equity Fund: Rs 45,000
DSP Tax Saver Fund: Rs 72,000
Nippon India Small Cap Fund: Rs 19,000
Mirae Asset Tax Saver Fund: Rs 32,000
Motilal Oswal Long Term Equity Fund: Rs 30,000
Tata India Tax Savings Fund: Rs 30,000
Invesco India Tax Plan: Rs 10,000
Motilal Oswal S&P 500 Index Fund: Rs 8,000

Stopped
Nippon India Tax Saver (ELSS) Fund (IDCW Payout): Rs 99,000
SBI Long Term Equity Fund: Rs 34,000
SBI Long Term Equity Fund (IDCW): Rs 41,000

Additionally, I intend to start SIP in equities of additional Rs 5,000-6,000 from January.

What sort of return may I expect with my current portfolio? I am 35 years and a salaried person. Is there any other equities fund that you would like to suggest for SIP and also if you could suggest if I can stop or consolidate any existing ELSS as I have already utilized my Rs 80C bucket?
–Sagar Sadbhaiya


Vishal Dhawan, Founder, Plan Ahead Wealth Advisors, responds:

While it is good to see that your portfolio has been constructed using SIPs for a long while, the number of ELSS funds in your portfolio is much higher than needed and can be significantly reduced. I would suggest that you stop SIPs in all the ELSS funds except for Axis Long Term Equity Fund and Mirae Asset Tax Saver Fund. As the existing funds complete their mandatory lock in period, consider exiting those and investing in a combination of Indian index funds based on the nifty 50, and international index funds based on the MSCI World Index and also enhance the SIP exposure to the S&P 500 Fund.


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