Choose a multi-cap mutual fund over a mid-cap one
Parag Parikh Long term Equity fund would be a good choice in this regard
I am 38 years old and my monthly salary is ₹ 58,000. I have been investing ₹ 1,000 each in ABSL Frontline Equity Regular G and ICICI Value Discovery Regular G since January 2018. I invested a lump sum of ₹ 25,000 in ICICI Bharat 22. I started another SIP of ₹ 2,000 in SBI Small Cap fund (Direct) G from 26 August and plan to start an SIP of ₹ 1,000 either in Mirae Asset Emerging Bluechip (Direct) G or Canara Robeco Emerging Equities (Direct) G. Which one should I choose? I want to start an SIP in a mid-cap fund too. Which fund would you suggest? Also, is my current portfolio okay? How much will these funds return till 2034 as I want to create a corpus of above ₹ 1 crore in 16 years? Also, how much should I invest?