How can I plan for my daughters’ higher education, marriage by investing in mutual funds?

My Investment Kotak Mahindra Mutual Fund, Nippon India ( 2000 each), DSP Small Cap Fund Regular Plan, IDFC Flexi Cap Growth Fund Regular Plan, Mirae Asset Emerging Service Fund Regular, SBI Banking Financial Services Fund Regular, SBI Flexi Cap Fund Regular Plan Growth, SBI Magnum Mid Cap Fund Regular, SBI Savings Fund Regular, SBI Small Cap, SBI Technology Opportunities Regular, Tata Digital India Regular, UTI Valor Opportunities Regular ( 2500), Aditya Birla Sun Life Mutual Fund and L&T Mutual Fund ( 3000 each). Also, in LIC, I am paying more than 1 lakh in a year.

-Name withheld on request

Your monthly SIP investment 37,500 in equity and debt-oriented schemes to build a healthy corpus over a period of time. The question appears to be incomplete as there are several schemes with inappropriate names in the question (instead of the name of the schemes, the name of the AMC is mentioned). As far as the existing portfolio is concerned, you can continue your SIP with Mirae Asset Emerging Bluechip Fund and UTI Value Opportunity Fund.

There are many funds in the portfolio which are thematic/sectoral in nature and not suitable for SIP. You can look at rebuilding the portfolio through a healthy mix of equities from large and mid cap, flexi cap, multi cap, mid cap and value categories. Suggested funds are HDFC Large & Mid Cap Fund, Axis Growth Opportunity Fund, Canara Robeco Flexi Cap Fund, Parag Parikh Flexi Cap Fund, Nippon India Multi Cap Fund, Kotak Emerging Equity Fund, PGIM India Mid Cap Opportunity Fund and IDFC Sterling Value Fund . This way your portfolio will be diversified across categories, geography and AMCs. It is advisable to review the portfolio at least once a year.

Sanjeev Bajaj, Joint Chairman and MD, Bajaj Capital.

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