Will I be able to create a corpus of Rs 1.5 crore in 20 years?

I am 28 years old. I want to create a corpus of Rs 1.5 crore by the time I am 48 years old. I am investing in the following mutual fund schemes:

Kotak Standard Multicap Fund (G): Rs 500
SBI Bluechip Fund (G): Rs 500
L&T Midcap Fund (G): Rs 1,000
ICICI Prudential Equity & Debt Fund - Regular (G): Rs 1,000
HDFC Small Cap Fund (G): Rs 500
HDFC Index Fund - Sensex Plan: Rs 500
HDFC Index Fund - NIFTY 50 Plan: Rs 1,000

Should I make any changes to my mutual fund portfolio?

-- Sunny Saini

Neeraj Chauhan, CEO, The Financial Mall, responds:

You need to invest Rs 15,000 per month to accumulate a corpus of Rs 1.5 crore in 20 years. I am assuming an annual return of 12 per cent.

You need to invest Rs 10,000 more to meet your goal. It is important to choose the right schemes and it is equally important to choose the right amount as part of prudent goal-based investing. Active mutual fund schemes are still creating alpha over passive schemes. So, I would suggest you to switch from HDFC Index Fund to a multicap mutual fund scheme like Mirae Asset India Equity Fund or Motilal Oswal Multicap 35 Fund.