Is my mutual fund portfolio allocation correct to get Rs 3 crore in 15 years?

Is my mutual fund portfolio allocation correct to get Rs 3 crore in 15 years?

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I have SIP in the following mutual funds. My target is to create Rs 3 crore in 15 years. These SIPs have been active for the last one year. Please advise if the allocation is right.

Aditya Birla SL Frontline Equity – Rs 4,000
Mirae Asset India Equity Fund – Rs 5,000
Franklin Focussed Equity Fund- Rs 4,000
HDFC Capital Builder Fund – Rs 6,000
Tata Equity PE Fund – Rs 5,000
ICICI Prudential Value Discovery Fund – Rs 4,000
HDFC Hybrid Equity Fund- Rs 5,000
Aditya Birla SL Tax Relief 96 – Rs 4,000
L&T Midcap Fund – Rs 4,000
HDFC MidCap Opportunities Fund – Rs 2,500
Franklin Smaller Companies Fund – Rs 2,500

My risk profile is moderately high.
— Amit Shukla

Jitendra Solanki, founder, JS Financial Advisors, responds:

Though you have selected a good list of mutual fund schemes, they are just too many in numbers. This is over-diversification and will not help you in your wealth accumulation. Curtail the SIP numbers. Have two large cap funds, two multi cap funds and two mid/small cap fund in your investment portfolio.

Aditya Birla Frontline Equity and UTI Nifty Index Fund can be added in your large cap scheme. For multi cap mutual funds scheme, Mirae Asset India Equity and Franklin Focused Equity Fund can be considered. For Mid/small cap scheme L& T Mid Cap along with Franklin India Smaller Companies Fund will do good. Maintain this investment portfolio.

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