You can consolidate your tax-saving funds into the Mirae fund, and add Parag Parikh flexi-cap fund
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I’m a 23-year-old IT professional. I tried to invest in mutual funds, stocks and fixed deposits, but I couldn’t find the right guidance to proceed. I started systematic investment plans in four mutual funds, which are Mirae Asset Tax Saver Fund, Axis Small Cap Fund, Quant Tax Plan and Axis Bluechip Fund Direct. I need guidance with these mutual funds.
As a young person with a potentially very long investment horizon, you are choosing to go with an all equity portfolio, and that is fine. Please stay invested through market volatility. You can consolidate your tax-saving funds into the Mirae fund, and add Parag Parikh flexi-cap fund. You can either replace your large-cap fund with the Parag Parikh fund or you can add the flexi-cap fund to your portfolio. After this, you will be left with a tax-saving fund, a small-cap fund, a large-cap fund and a flexi-cap fund. With good funds in these four categories, the portfolio will do well in the long run.