Will these mutual funds help me to make Rs 2 crore?

I would like to reach a goal of Rs 2 crore. My investment horizon is 15 years. My risk appetite is aggressive.

I have been investing in these funds for the last three years:

• Franklin India Smaller Companies Fund: Rs 2,500
• L&T Mid Cap Fund - Direct Growth: Rs 3,000

I am planning to invest Rs 10,000 more. Will it be good to increase my SIP in the existing funds? Would you suggest any new funds?

-Siva Shanmugam

Assuming an annual return of 12% on your investments, you need to invest around Rs 39,600 every month to create a corpus of Rs 2 crore in 15 years. As you can see, you are investing very little currently. You need to invest more. Save and invest as much as you can. Aim for at least to save and invest 30% of your savings. Also, increase your investments with every salary increase. It will help you to build a sizeable corpus.

The two funds you have invested in are not part of our recommendation list. Since you have not shared why or how you have selected these schemes, it is difficult to comment on them. However, they have not beaten their benchmark in the last three years.

Here are our recommendations:
Best mid cap schemes
Best small cap schemes