Will these mutual funds help me to make Rs 3 crore?

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This is my current mutual fund portfolio, few of the funds I am not investing. I want to redesign my portfolio. I want to make at least Rs 2.5 crore to Rs 3 crore in the next 10-12 years. I can invest Rs 60,000 per month. Need your advice. I am 47 years old. I am also looking for a paid wealth management expert, who can support me to meet my financial goal.

My funds:

  • Aditya Birla Sun Life Pure Value Fund
  • Axis Bluechip Fund
  • Canara Robeco Emerging Bluechip
  • Franklin Focused
  • HDFC Midcap Opportunities Fund
  • L&T Value
  • Mirae Emerging Bluechip Fund
  • Mirae Asset Large Cap Fund
  • SBI Balanced Advantage Fund
  • SBI Bluechip Fund
  • SBI Focused Fund
  • SBI Healthcare
  • Sundaram Mid Cap Fund

-Samir Sil

Assuming an annual return of 12%, you can make around Rs 1.39 crore by investing Rs 60,000 every month for 10 years. Clearly, you need to invest much more if you want to reach your target. You can hire a financial planner and he or she will be able to help you save and invest more. The planner would also map your current investments and assets. It will help you to palm your investments properly.

You are investing in too many schemes. Your mutual fund portfolio needs to be more focussed. Your core mutual fund portfolio should be in line with your risk profile and goal. For example, if you are a moderate investor, you should invest mostly in flexi cap funds. Your financial planner or wealth manager would be able to offer better suggestions with your inputs.

Remember you are a decade away from your retirement. Tread carefully as you cannot afford to waste time or make any big mistakes.