I am 26 years old and have started investing in mutual funds from last 2 months. I am looking for long term goal like more than 10 year.
I currently hold below funds in ELSS and have invested lumpsum of 20K in each of the fund and will continue with SIP of 2K every month from now.
1. Aditya Birla Sun Life Tax Relief 96 – Direct Plan – Growth
2. Tata India Tax Savings Fund – Direct Plan – Growth
3. DSP BlackRock Tax Saver Fund – Direct Plan – Growth
4.Reliance Tax Saver Fund – Direct Plan – Growth
I have had a plan to add 3 more funds for the portfolio with a Large Fund, Mid cap and Small Cap one Balanced fund. On further investigation I got to know Most of the ELSS are large cap and provide returns similar to large cap, hence dropped large cap.
Apart from above investment I have capacity of 8K per month and planning to add below funds into my portfolio. I can also stop funding one of the ELSS fund and distribute the amount among others
Small and Mid Cap fund: L&T Emerging Businesses Fund – Direct Plan – Growth (4K SIP)
Balanced Fund: Reliance Regular Savings Fund – Balanced – Direct Plan (4K SIP)
Please suggest and help me build my Portfolio.
Do you need these many funds? Where is asset allocation? One large cap and one mid cap (in equity) enough. In case of debt, one ultra short term debt fund enough.