Investing in 4 mutual funds to diversify

[bathanh]

Here to have an opinion if I'm doing the right thing or not. I have recently started investing and currently doing a sip in 4 different mutual funds.
1. Parag Parikh Tax Saver - 50%
2. Parag Parikh Flexi Cap - 20%
3. Navi Nifty 50 - 10%
4. Quant Small Cap fund - 10%

Should I keep doing it? I don't have any specific goal in mind, I just want to save and diversify that's it. Therefore just wanted to check if I should keep up with this formation for the coming year or if should I change things around.
Thank you in advance.

 

[bathanh]

@megannovybaker Instead of moving away from Parag Flexi Cap should I just stop my sip in Tax Saver and instead start putting my money in Quant Tax Saver?

 

[resjudicata]

@bathanh you can do that

 

[angelgirl77]

@bathanh Your asset allocation strategy looks good.

I would suggest putting higher allocation to index fund mainly UTI Nifty index fund

you can lower the allocation in tax saver fund

your allocation in small cap is decent

you can allocate a certain percentage of amount into gold bees and certain percentage into Nasdaq mutual fund by Motilal Oswal

 

[jingshenbianxi]

@angelgirl77 May I know why you're suggesting to put higher allocation to UTI Nifty Index Fund instead of increasing it in the Navi Nifty50 Index Fund that he already has?

 

[angelgirl77]

@jingshenbianxi I Prefer UTI nifty index fund instead of NAVI.. but can take advantage of low expense ratio of Navi.. Low tracking error of established funds.