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Is my mutual fund portfolio in line with my risk profile?

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ET Online|
Jul 09, 2019, 11.33 AM IST
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I am 24 years old and I have been investing in mutual funds since 2017. Apart from ELSS funds, I am investing in five schemes for my core equity portfolio. My risk appetite is moderate to high and my goals are: children’s education and marriage, my retirement which are 10, 20 and 30 years away. My funds are:
Parag Parikh Long Term Equity Fund
Kotak Standard Multicap Fund
Invesco India Contra Fund
Mirae Asset Emerging Bluechip Fund
Franklin India Prima Fund

I am also investing in two ELSS funds:
Aditya Birla Sun Life Tax Relief 96
Mirae Asset Tax Saver Fund

Please let me know whether these funds are in line with my risk appetite. I have added a large & mid cap and mid cap fund as I have more than 15 years for most of the goals. All the funds are in direct plan, growth option.
--Deepanjan Neogi

Rishabh Parakh, Founder, Money Plant Consultancy, responds:

You have an overall balanced portfolio in line with your risk profile. The only missing point is the amount linked to each goal. At least, you have not mentioned it. I believe you must have done it already. If not, you must do a comprehensive financial planning first. After that selecting the right mutual fund schemes becomes easier. Also, it becomes easier to calculate the SIP investments needed to achieve your long-term financial goals. You should opt for relatively less riskier investment options for goals like your children's marriage. The only change I would suggest on the basis of the information given in your question is to replace Franklin India Prima Fund with Kotak Emerging Equity Scheme.
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