Will my mutual fund portfolio help me to create Rs 1.5 crore?

I am 37 years old. I am looking forward to create a corpus of Rs 1.5 crore for my retirement. I am investing Rs 22,000 via SIPs, and my investment horizon is 23 years. I am investing in the following mutual fund schemes:

ICICI Prudential Bluechip Fund: Rs 5,000
ICICI Prudential Value Discovery Fund: Rs 5,000
Tata Treasury Advantage Fund: Rs 5,000
Mirae Asset Focused Bluechip Fund: Rs 2,000
Invesco Dynamic Equity Fund: Rs 5,000

Do I need to change my mutual fund portfolio to realise my financial goals?

-- Mayukh Das

Jitendra Solanki, founder, JS Financial Advisors, responds:

Your mutual fund portfolio is well diversified and you have invested in a mix of different categories. If your investments give 12 per cent annual returns, you will succeed in creating Rs 1.5 crore for your retirement.

You have invested in an ultrashort term debt fund -- Tata Treasury Advantage Fund. Most individuals park money meant for their emergency fund in ultra short term schemes. If you are investing in it to create your retirement fund, you can replace it with some term debt funds. If you have invested in this mutual fund scheme for any other objective, continue with it. You can continue with the rest of the mutual fund schemes.