Mutual funds to create Rs 50 lakh in 15 years

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I am 29 years old. I am planning to invest Rs 10,000 per month in mutual funds to build a corpus of Rs 50 lakh in 15 years. I am planning to invest in Kotak Standard Multicap Fund (Rs 2,000), Axis Bluechip Fund (Rs 3,000), L&T Midcap Fund (Rs 2,000), Mirae Asset Emerging Bluechip Fund (Rs 3,000). Is my mutual fund portfolio good?
--Deepesh Warkade

Deepali Sen, Founder, Srujan Financial Advisors, responds:

You have not mentioned your risk profile. If you are a moderate to aggressive risk taker, your choice of funds, diversification and the amount of investment every month is fine. You can go ahead and invest. I would advise you to stay invested in equity mutual funds for at least seven years. Review your portfolio every year. I hope you have invested in debt mutual funds for emergency purpose and for your short term goals (less than 2 years). Also, invest in medium term debt funds for your goals between two to seven years.
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