Will these mutual funds help me to create Rs 1 crore in 10 years?

I am 22 years old and currently investing Rs 8,000 via SIP. I am investing in the following funds:
Mirae Asset Blue Chip Fund: Rs 2,000
SBI Small Cap Fund: Rs 2,000
ICICI Prudential Equity Fund: Rs 2,000
HDFC Gold Fund: Rs 2,000.
My goal is to create Rs 1 crore in 10 years. I am an aggressive investor.
- Saurav

It looks like you have got the name of the first scheme wrong. Did you mean the Mirae Asset Emerging Bluechip Fund? The name of the ICICI prudential scheme is hard to guess. It can be ICICI Prudential Equity & Debt Fund, ICICI Prudential Equity Arbitrage Fund, or ICICI Prudential Equity Savings Fund. 

Assuming the first scheme is Mirae Asset Emerging Bluechip Fund, you are currently investing in Large and mid-cap Schemes, Small cap Schemes, Gold Scheme, and schemes in an unspecified category. You have chosen good individual performers. However, your portfolio lacks focus. It is not clear why you added the Gold fund to your portfolio.

You have very unrealistic expectations of your equity investments. You have to earn around 38% of the returns to earn Rs 1  investing in just Rs 8,000 every month, that too in 10 years. Assuming a 12% annual return, it could generate around Rs 18.58 lakh in 10 years. 

Assuming an annual return of around 12% on your investment, you need to invest around Rs 43,000 each month to create 1 crore in 10 years. 

You should also remember that choosing a nice round figure like Rs 1 core will not be enough to nurture your long-term financial goals. You must work with real numbers and calculate a realistic goal if you want to achieve your long-term goals without fail.

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