Is my fund selection good for investing through SIP for 3 to 5 years

I am new for mutual fund. Want to invest Rs. 30,000 through SIP for 3 to 5 years time horizon. I can take moderate risk for my corpus for my retirement. I just short listed some funds - HDFC Prudence Fund, ICICI Prudential Balanced Fund, Birla Sun Life Balanced '95 Fund, SBI Bluechip Fund - Large Cap, Birla Sun Life Frontline Equity - Large Cap, Mirae Asset Emerging Bluechip Fund(G) - Mid Cap, Franklin India Smaller Companies Fund - Mid Cap, HDFC Mid-Cap Opportunities Fund - Mid Cap, SBI Magnum Midcap Fund - Mid Cap, DSP BlackRock Micro Cap Fund Small Cap, ICICI Pru Value Discovery Fund - MultiCap, Kotak Select Focus - MultiCap, Birla Sun Life Pure Value Fund MultiCap, Birla Sun Life Advantage Fund MultiCap. Please help and advise, in which fund and how many fund I will start SIP for 3 to 5 years for good return?

Dec 12, 2016 by Manoj Gupta, Ranchi  |   Mutual Fund

You have selected 14 funds, the number of which is too high for monthly SIP of Rs. 30,000.

Though you have selected good funds from balanced, large cap, diversified and mid & small cap category, we would suggest that instead of investing in so many categories, you can invest only in two categories - balanced and diversified. This is because balanced fund invest in large cap as well as small and midcaps. In fact it invest across all market cap stocks.

Also, instead of 14 funds, go for maximum 6 funds with investment of Rs. 5,000 each.

Since your fund selection is good, you may choose the 6 funds that you want to invest in from the list of 14 funds.

Hope the above helps. Thanks for writing to Advisorkhoj.

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