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Mutual funds are already diversified so there is no need of so many Mutual funds
I think with this investment portfolio, majority is in Index funds only. You might be seeing count of entries but couple of them are repeated based on sip dates.
But yeah strategy depends on risk appetite and goals.
Whatt is your inhand
Me and my wife both earn around 1.5lac per month. We plan to keep equal contribution ~75k towards this sip we just started. Rest for self and other expenses.
I think you are well balanced with these sips.
Maintain these and will help you build wealth but do keep a long horizon for these investments.
Multicap fund will definitely have good exposure in Midcap and Smallcap to attempt some extra returns so it should cover that requirment.
If you want, can also add Kotak Emerging Equity Fund for midcap n emerging companies.
50% investment is never good option, but anyway if u don't have any liability u r good to go.
Usually it's saying the 50 30 20 rule. 50 for need 30 for wants and 20 for saving.
But I think 50% of ur salary is not that much need, and u can go with this. Also if there's no liability it's good to go. As u said the total income is around 3lakh it's good to have 1.5 for expenses and 1.5 for saving.
U can invest in ELSS fund as well for tax saving if you're in old tax regime
Not needed
Check out quant's tax saver fund, you can also try ETFs which are bit risky for short term, but gives more returns as compared to mutual funds
You can diversify mutual funds based on your future requirements. For example short term withdrawing can be done from debt, large cap, bluechio etc
For mid term goals mid or multi cap
For long term results go for small cap
Your mutual funds look good. Just do an overlap research on advisorkhoj site and make sure your money is not going into the same companies...Good luck