I have started investing in below mutual funds since April 2017 with a time horizon of 10-12 years. The objective is to create a corpus for my retirement and future expenses. My current age is 38 years. Could you please let me know if it is good enough or it needs re-adjustment or should I consult a professional financial planner to structure it better.
- ICICI Prudential Value Discovery Fund – Growth
- ICICI Pru Banking & Financial Services Fund – Growth
- Franklin India Smaller Companies Fund – Growth
- Franklin India Prima Plus Fund – Growth
- HDFC Mid Cap Oppurtunities Fund – Growth
- Kotak Select Focus Fund – Growth
- DSP Blackrock Balanced Fund
- Motilal Oswal MOST Focussed Multicap 35 Fund – Growth
For such goals you need asset allocation of 40:60 (at least) in debt and equity. For debt, you can use Ultra Short Term or Short Term Debt Funds. For equity, one large cap and one mid cap. So in total you just 3 funds rather than above shared so many funds. Refer my post “Top 10 Best SIP Mutual Funds to invest in India in 2017“.