Does my DIY mutual fund portfolio need any changes?

I am a 40-year-old state government employee. I need a retirement corpus of Rs 1 crore. My time horizon is 15 to 20 years. I have a risk appetite of moderate to high.

I have been investing:
1) Rs 1,000 per month in EPF(GPF) since April 2005 (subject to increase frequently) and
2) Rs 3,000 per month in PPF since January 2018.
3) 5 mutual funds since April 2018 SIP of Rs 1,500 to each fund Direct Growth option: Axis Bluechip Fund, Mirae Asset Large Cap Fund, Mirae Asset Emerging Bluechip Fund, Kotak Standard Multicap Fund, HDFC Small Cap Fund.

I am also investing Rs 5,000 per month in Sukanya Samriddhi Yojana since January 2018 for my daughter's marriage.
Does my DIY Portfolio need any changes or rebalancing?
- Arup Kumar Mondal

We will confine our comments to mutual funds. You have chosen good schemes. However, your allocation is not in line with your profile. You have chosen two large cap schemes, a large & mid cap scheme, multi cap scheme, and small cap scheme. Since your risk profile is moderate to high, you should have a mix of multi cap schemes and mid cap/small cap schemes. The proportion of mid cap would depend on how much extra risk you are ready to take for extra returns. You can invest in a multi cap scheme like Kotak Standard Multicap Scheme and a mid cap scheme.

Also read: Best mid cap mutual funds to invest in 2019

You need to invest Rs 19,819 every month to create a corpus of Rs 1 crore in 15 years. We are assuming an annual return of 12 per cent for the calculation. A word of caution: a nice round figure like Rs 1 core will not be enough to take care of your retirement. You should work with real numbers, inflation, and taxes to reach a realistic target corpus.

For more, read: Rs 1 crore or Rs 2 crore? Use real numbers, inflation, taxes for realistic retirement corpus