Should I invest in more than one scheme for one category of mutual funds?

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diversification applies not only across various asset classes but also needs to be implemented within the same asset class. This especially applies to investing in equity as an asset class. One should invest across various categories of companies/mutual fund schemes.

This diversification should also be implemented across various mutual fund houses/sectors. The broad categories for equity investing are Large Cap, Mid Cap, and Small cap. One should invest in all these categories.

The proportion in which one should invest across various categories and asset classes would vary depending on the risk profile of the investors. Exciting news! Mint is now on WhatsApp Channels. Subscribe today by clicking the link and stay updated with the latest financial insights! Click here You are doing SIP in four small-cap schemes out of a total of seven SIPs, which I think needs to be avoided.

You need not invest in more than one scheme for investing in one particular category. Though you are just 35 years old and presumably have a very long time frame for your goals, still I would advise you to avoid concentrating on one category of the scheme. Since you have not mentioned the exact amount of the SIP amount of all the schemes, the specific names of schemes for Canara Robeco & Parag Parekh, and the schemes and amount invested in a lump sum, it is difficult to give you specific advice on your investments, I would advise you to diversify your overall investments across various asset classes like equity, debt, and gold.