How good is my mutual fund portfolio?
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Gaurav Monga, Director, PxG Consultants:
Since you are investing for your long-term goal of retirement, equity is the right asset class to invest. Both the funds selected by you are good. Axis Long Term Equity Fund is a tax-saving scheme and Invesco India Mid Cap Fund is a mid cap scheme. If tax saving is the requirement, then you should continue with Axis Long Term Equity Fund. Otherwise, you can shift to a multi cap scheme. For the additional investment, selecting a scheme on the basis of merit is important than selecting a specific fund house. You can start the SIP in a multi cap category equity fund like Kotak Standard Multicap Fund, SBI Magnum Multicap Fund, and HDFC Equity Fund.