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How to invest for my child's education?

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I am 37 years old and I have a 2.5-year-old kid. I am investing for my kid’s higher studies.
I have invested a lumpsum of Rs 4.5 lakh in the following funds for the long term for good returns and my risk appetite is moderate to high.
L & T India Value Fund(Growth) – Rs 1,10,000
Kotak Select Focus Fund (Growth) – Rs 1,10,000
Sundaram Rural India Fund (Growth) – Rs 80,000
ICICI Prudential Value Discovery Fund (Growth) – Rs 50,000
DSPBR Small & Midcap Fund (Growth) – Rs 50,000
HDFC Balanced Fund (Growth) – Rs 50,000
Is my portfolio too much diversified, should I rebalance any of the above funds? I can invest Rs 1,50,000 more. Where should I invest the remaining money ?
I want to start SIP for another Rs 10,000, please suggest me some good funds to invest for 10 to 15 years.
–Vasu Manne

Gaurav Monga, a Certified Financial Planner, responds:

Your portfolio is well diversified having blend of large, multi, mid & small, thematic & hybrid schemes. So, firstly there is no immediate need to make any changes or add any new schemes. Further, considering the high market valuations you should stagger your additional investment of Rs 1.5 lakh over next five to six months equally into ICICI Prudential Value Discovery Fund and HDFC Balanced Fund. The SIP of Rs 10,000 can be divided in following two schemes: L&T India Value Fund- Rs 5,000 and Kotak Select Focus Fund: Rs 5,000.

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