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Should I continue with my current SIP funds

I have started SIP recently in lots of Funds. Not able to decide which one to stop. 1) ELSS - ICICI Prudential Long Term Advantage Rs 5000, Reliance Tax Saver Fund Rs 1000, 2) MultiCap - PPFAS, ICICI Prudential Rs 1000 each, 3) MIDCAP - Mirae Asset Emerging BlueChip Rs 2000, Sundaram Mid Cap Rs 1000, 4) Balanced Fund ICICI Prudential Balanced Fund, and HDFC Rs 1000 Each, 5) Large Cap - SBI BlueChip Rs 1000. My Investment horizon is 5+ years. Main purpose is to accumulate money. Can you please suggest me which one should I stop and in which to increase amount for one my stop?

Apr 9, 2017 by Avi, Delhi  |   Mutual Fund

You have invested in too many funds across various categories - ELSS, Balanced, large cap, mid & small cap and diversified / multi-cap.

However, you have not mentioned the fund names clearly. For example, which multicap fund and balanced fund you are investing in from ICICI Prudential mutual fund and HDFC Mutual Fund stable? HDFC mutual fund has two balanced funds and ICICI Prudential mutual funds has 6 diversified equity funds.

Therefore, we cannot comment on these two selections, however, rest of your fund selection is good for long term wealth creation.

With regards to your new investment, you should first increase your allocation in existing ELSS Funds, provided you need to invest more for tax saving. Else you can increase allocation in any the funds in your current portfolio.

Increasing more number of funds will make the portfolio unmanageable. Therefore, keep few funds and monitor their performance regularly and check if they continue to align to your investment needs.

Thanks for writing to Advisorkhoj.

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