
Am i investing in too many Mutual funds?
These are the MFs i am currently invested in:
Icici prudential balanced advantage fund Hdfc balanced advantage fund Bandhan elss tax saver fund Hdfc elss tax saver fund Axis midcap fund Mirae asset elss tax saver fund Sbi long term equity fund Icici prudential large cap fund Hdfc midcap opportunities fund Sundaram elss tax saver fund Kotak emerging equity fund Sbi balanced advantage fund Sbi blue chip fund Axis small cap fund Hdfc small cap fund Tata digital India fund Edelweiss us technology equity fund FoF Icici prudential transportation and logistics fund Tata midcap growth fund Hdfc infrastructure fund Icici prudential pharma healthcare and diagnostics PHD fund Hdfc focused 30 fund Invesco india smallcap fund Kotak global innovation FoF Quant small cap fund
I started in 2023 and these have given me okayish returns so far(13% xirr)
I was(and still am but lesser) financially illiterate and hence this is the situation. My strategy has been investing in whatever MF shows up at the top according to returns when i add money(usually after my salary comes)
Current portfolio is ~ invested 20l, current value 24l
I know there are a lot of things wrong here, but can someone explain me what is the recovery from here? What should i do? Most of these MFs have a lock in of 3 years so would have to wait more than a year from now to start taking out money.
Any suggestions are welcome, thanks!
Talking product sense with Ridhi
9 min AI interview5 questions

You're spread too wide and thin, consolidate!

2 funds more than sufficient eg. nifty ELSS for tax and parag parikh flexi cap for everything else.

But since there's a lock in of 3 years, I can't take them out now. What should i do in the near future?

You could have simply purchased nifty500 index. That too with a less expense ratio.

Consult a finance advisor on what to do next. Don't consult here on GV or any other social media

Over diversified. List them down category wise - smallcap, midcap, large cap, etc. Analyse them and pick max. 1-2 from each category.

you have a MF of MFs

It's not investment ... It's OCD 😆

Ahh Mutual Fund 100 index
Too many funds. If you check their composition, lot of overlap will be found.
That's the reason for your low returns.
DM if you need professional advice.