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Can you please suggest me if my SIP funds are good

I am a private service holder, I am continuing the following SIP for last 1 to 2 years, My target is to continue all the fund for 5 years and more. Please suggest me whether my portfolio is right or wrong. Funds are Axis Long Term Equity Fund - 1000, Franklin India Smaller Companies Fund - 1000, SBI Magnum Midcap Fund - 1000, SBI Pharma Fund - 1000, HDFC Balanced Fund - 1000, Tata Balanced Fund - 1500, Mirae Asset Emerging Bluechip Fund - 1000, UTI Equity Fund - 1000, UTI Opportunities Fund - 1000, UTI Pharma and Healthcare - 1000, UTI MNC Fund-1000, Birla Sun Life Top - 100 fund - 1000, ICICI Technology Fund - 1000, ICICI Value Discovery Fund - 1000, DSP BlackRock Microcap Fund - 1000. I also interested to invest Rs. 100000 as a Lumpsum for 10 yrs. Please suggest me a good performing fund. Your kind reply is highly acceptable?

Aug 29, 2016 by Satyajit Chowdhury, Sonarpur  |   Mutual Fund

You have selected funds for your SIP from balanced, ELSS. Midcap, Small cap, Large Cap, Diversified and Sectoral categories. Even though you have selected some good funds, we feel that you are investing in too many funds. Moreover, SIP investing in sectoral funds are not advisable.

Therefore, our suggestion would be to reduce the total number of funds from 15 to 5-6 at the most and increase the exposure in diversified equity funds and midcap funds.

With regards to your lumpsum investment, you may invest 50-50% in balanced fund and diversified equity funds from your selected list of funds.

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