dear Experts, 

The question is regarding Equity Mutual Fund diversification with 03,04,05 funds. Is it really required. Some say Yes, some say No.If my goal is more than 10yrs away, it is always prefer to have Equity MF for investment. For example, if my investment is 10000 INR monthly for 10 yrs, if that 02 MF with 5K each is sufficient or with 05 MF with 2K each. I am not confused. 

Scenario where MF A (Large Cap) invest in Fund No. 01 to 05; MF B (Large Cap) invest in Fund No. 06 to 10 and so on till MF E, is it not fair to have 05 MF in portfolio so that in case MF A or B is not working upto mark, you are not in loss and it is compensated by other MF who are having funds in other stocks. Kindly provide your opinion.