Need advice on my existing portfolio

Hi, May I ask for few details; 1 - Do you have adequate life insurance cover? 2 - What about health insurance cover for self & family? 3 - Do you have any other dependents?  4 - Do you maintain adequate emergency fund?, which can be withdrawn if required during any unforeseen contingencies. MF portfolio: You have two Large cap oriented funds ie ICICI focused & Birla Frontline. You may continue with one of these. Birla pure value fund is decent fund in Mid-cap category. There are better ELSS funds than HDFC tax saver. Suggested readings; https://www.relakhs.com/best-mutual-fund-scheme-risk-ratios/ https://www.relakhs.com/mutual-fund-portfolio-overlap-comparison-tools/ https://www.relakhs.com/best-mutual-fund-schemes-2017/

Thank you for ur response...
1. I have a total life cover of 1.4 crores (term policy : 40 lakhs from kotak life and 1.0 crore from TATA AIA)
2. My wife has a term policy of 50 lakhs from Kotak life
3. we have a mediclaim policy from Apollo Munich (family individual) (3+3+1+1). besides this, we have a group ins cover from my company.
4. My parents are dependent on me.
5. no emergency fund other than liquid fund.
6. i have a credit card
7. other than that mentioned earlier, i invest Rs. 2000/- in DSP BR Micro cap fund

Hi, 1 - Kindly maintain Emergency fund, can up to say 6 to 9 months of your living expenses.  2 - Both the large cap funds are good ones. You may check their risk ratios and take decision. Kindly read: https://www.relakhs.com/best-mutual-fund-scheme-risk-ratios/ 3 - You may stop investments in HDFC tax saver. 4 - MF portfolio suggestions : You may allocate more amount to mid & small cap funds for your long terms for next few years.  5 - Kindly note that I do not provide suggestions on shares/direct equity.

Hi ET,
I am a regular follower of ET. I am aged 35. My wife is 32. We both r state government employees. We have 2 children aged 7yrs (boy) and 2 yrs(girl). We invest in MFs through SIPs.
My Risk appetite is Moderate to high. My objective is long term wealth gain, retirement, children education and marriage. We have adequate term ins, mediclaim, etc. My Present MF Portfolio:
1. Birla SL - Pure Value Fund Reg (G) 7000.00 (with increment of Rs. 1000/- per year)
2. ICICI Pru - Focused Bluechip Equity Fund Reg (G) 5000.00
3.Reliance Small cap fund Direct (G) 4000.00 4.Birla SL - Balanced 95 Fund Reg (G) 10000.00
5.ICICI Pru - Flexible Income Plan Reg (G) 5000.00
6.ICICI Pru - Value Discovery Reg (G) 5000.00
7.Birla SL - Frontline Equity Fund Reg (G) 3000.00
8.DSP BC Micro cap fund Direct (G) 2000.00
9.Mirae Asset Emerging Bluechip Fund direct (G) 4000.00 I am planning to switch from ICICI Pru - Focused Bluechip Equity Fund Reg (G) to Franklin India Smaller companies fund. Other than this, each of us invest in SBI Pension Plus scheme Rs. 2000/- PM. Also, is it a good idea to invest in NPS for an extra tax benefit of Rs. 50000/-? Please suggest improvement/corrections in my portfolio for high returns in long term.
Thanks in advance.

Hi, Since you already have two Small cap funds and one mid-cap fund, it may not be advisable to add one more Small cap fund. With the current product structure, NPS is not a great choice. Kindly read : https://www.relakhs.com/national-pension-scheme-nps-drawbacks/