How do you build a good portfolio for long-term goals?

—Name withheld on request

You may consider streamlining your portfolio as you have invested in 17 MF schemes. Over-diversification sometimes can be counter-productive and lead to overlapping at the portfolio level. Ideally, 6 to 8 funds are good enough to build a good long-term portfolio.

You can relook at your strategy of investing in funds for a few months and then adding new funds.

This could lead to many more funds in your portfolio which may not help you get the best results and also add complexities in managing the portfolio. There are good funds within your existing portfolio. You can continue investing in Parag Parikh Flexi Cap, Kotak Equity Opportunities, Mirae Mid Cap, SBI Small Cap, Kotak Emerging Equity and HDFC Large and Mid Cap funds.

For other funds, you can review their performance and switch from the underperforming ones to existing funds if required, else you can hold as redeeming from the funds may result in capital gains.

Most importantly, you have good funds within your portfolio that can help you achieve your long-term goals and you can continue with the good work of regularly investing in mutual funds.

Harshad Chetanwala is co-founder at MyWealthGrowth.com.