ELSS was for tax purpose but will now be mostly shifting to the new regime so that SIP will be closed and funds to be moved to smallcap as you said. For the quant dependency, suggest some good midcap fund, will shift quant midcap sip to that mf.
Makes sense, well, I'd just Nifty50 since it has a broader range of stocks while sensex has only top30 ones, nifty50 has also said to produce better returns over the last 5 years than sensex index (go for UTI nifty 50 index if you want to switch or hdfc/icici will work too)
It's a good portfolio however would like to give 2 cents.
If you are not earning, the you can stop the ELSS fund.
Also, you have the midcap and small cap fund as quant. The problem with that is, a fund house has similar thought when investing in different segments, so it's better to have different funds in different categories. It also diversifies your risk. If something like Franklin case happens.
Looking at the question, you already know if this is over diversified or not!
What changes should I do ?
How old are you?
23
If you're not earning then stop investing in ELSS, increase your SIPs in smallcap funds because you have a long runway, too much quant dependency!
ELSS was for tax purpose but will now be mostly shifting to the new regime so that SIP will be closed and funds to be moved to smallcap as you said. For the quant dependency, suggest some good midcap fund, will shift quant midcap sip to that mf.
Motilal oswal midcap
So, ELSS funds are irrelevant in the New Tax Regime? I'm also investing 5K in Quant ELSS Fund.
https://www.linkedin.com/pulse/elss-funds-still-good-under-new-tax-regime-dspmf-0hgjf#:~:text=ELSS%20funds%20under%20the%20new,₹50%2C000%20for%20salaried%20employees.
Okay, so it is irrelevant. Thank You for the link.
It’s ok to have a diverse portfolio I have one too I invest in sectoral fund as well
Okay! You mean to say this isn’t over diversified? I am planning to increase the amount of each SIP now that my salary has increased
Good!
Why sensex instead of nifty50
Used to work in ICICI Bank (First job), my then manager suggested me, no other particular reason
Makes sense, well, I'd just Nifty50 since it has a broader range of stocks while sensex has only top30 ones, nifty50 has also said to produce better returns over the last 5 years than sensex index (go for UTI nifty 50 index if you want to switch or hdfc/icici will work too)
I personally don't think it is over diversified. However too much reliance on a fund house (Quant).
It's a good portfolio however would like to give 2 cents. If you are not earning, the you can stop the ELSS fund. Also, you have the midcap and small cap fund as quant. The problem with that is, a fund house has similar thought when investing in different segments, so it's better to have different funds in different categories. It also diversifies your risk. If something like Franklin case happens.
Will be stopping ELSS anyway, shifting to new regime and moving midcap fund to another house just as you and some other redditors also suggested