I am 30 years old. Want to accumulate a wealth of Rupees 4 Crores by 2040. Please give your valuable input on the below mutual funds that I would like to invest in.
Mirae Asset Emerging Bluechip Fund Direct Growth 2500
Canara Robeco Emerging Equities Fund Direct Growth 2500
Axis Long Term Equity Direct Plan Growth 1500
Invesco India Tax Plan Direct Growth 1500
SBI Focused Equity Fund Direct Plan Growth 2500
Parikh Flexi Cap Fund Direct Growth 5000
Canara Robeco Emerging Equities - Direct Plan – Growth
Axis Bluechip Fund Direct Plan Growth 5000
Mirae Asset Large Cap Fund Direct Growth 5000
DSP Mid Cap Direct Plan Growth 2500
Kotak Emerging Equity Fund Direct Growth 2500
Total 30500
Ans: Rs. 35000 per month is required to create a corpus of Rs. 4 crs in 20 years.
The funds are fine, however too many funds are there so consolidate them in one in same category i.e. ELSS, Large and Mid cap and mid cap ones.