Will these mutual funds help me to make Rs 3 crore?

I am 32 years old and currently investing through SIP in following funds:

Canara Robeco Bluechip Equity Fund
PGIM India Midcap Opportunities Fund
IDBI Gold Fund
Parag Parikh Flexi Cap Fund
HDFC Index Fund – S&P BSE Sensex
Nippon India Pharma Fund
Quant Tax Plan
Mirae Asset Tax Saver Fund

In addition to this I am putting Rs 35,000 per month as VPF and Rs 1 lakh every year in NPS.
What should I do to build Rs 3 crore corpus in the next 20 years?
–Parijat Kundu

You are investing in two large cap funds, two tax saving schemes, a mid cap fund, gold fund, flexi cap scheme, and pharma fund. You have not shared your risk profile. So we won’t be able to say whether these schemes are ideal for you. We will give a general opinion on the schemes. Large cap schemes are meant for conservative investors, whereas flexi cap schemes are ideal for moderate investors. Mid cap schemes and sector schemes are recommended for aggressive investors. Simply put, we can’t second-guess you and comment about these schemes. You must ensure that you are fine with the risk in each scheme.

Assuming an annual return of 12%, you should invest around Rs 30,000 every month to create Rs 3 crore in 20 years. However, you should make sure you are investing in schemes that match your risk profile. You don’t need to invest in more than three or four schemes. Too many schemes often result in over-diversification and compromise the overall returns. If you have doubts, please seek the help of an advisor or financial planner.

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