I am 31yrs old working in a PSU. I've been investing in MFs for about 4 yrs and have already accumulated 9.5 lakh thru them. My SIP investments in MFs are as follows:
1. IDFC nifty 50 Index fund - 3k
2. Quant active fund- 2k
3. Quant small cap fund- 3k
4. Mirae asset emerging bluechip fund- 2k
5. Axis bluechip fund- 2k
6. SBI small cap fund- 2k
All the investments are direct and growth type in nature. Also I plan to increase my investments by 5-10% every year.
My questions are as follows:
1. I want to create a corpus of about 10 crores during my retirement ie 60yrs of age. Is my investment sufficient?
2. Is my asset allocation balanced, meaning covering all sectors and all caps?
3. Do I need to invest in any other type of investment funds/schemes?