Can you suggest changes for my mutual fund selection

You fund selection is good and currently you are investing only Rs 5,000 through monthly SIPs to achieve a goal of Rs 2.50 Crores after 20 years. Please note that with monthly SIP of Rs 5,000, you can accumulate a corpus of only Rs 54 Lakhs after 20 years (assuming annual return of 12.5%).

However, to reach the targeted corpus of Rs 2.50 Crores, you need to save Rs 24,000 per month (returns are assumed at 12.5%). Therefore, you will have to increase your SIPs by another Rs 19,000 per month. However, you have mentioned that you can increase the monthly SIP to Rs 15,000 only. In that case, your accumulated corpus could only be Rs 1.60 Crores.

With think, you should first start with saving Rs 15,000 per month now and based on how your income increases in future, you can increase the SIPs. A beginning should be made and that is very important as far as achieving your targeted corpus is concerned.

With regards to fund selection, please note that investing in a mix of large cap, diversified and midcap equity funds would be better. You can add some more in your current fund selection - Mirae Asset Emerging Bluechip Fund and ICICI Prudential Value Discovery Fund. Among new additions, you can consider SBI Bluechip Fund, Birla Sun Life Equity Fund, DSP BlackRock Opportunities Fund and Kotak Select Focus Fund.

Hope the above helps! Thanks for writing to Advisorkhoj.