I have FDs, mutual funds, stocks and EPF. Is my portfolio actually balanced?

You've invested in mutual funds, bought a few stocks, opened FDs and contributed to your EPF for years.

That sounds like a diversified portfolio. But is it really?

Owning different investment products doesn't automatically mean your portfolio is balanced.

What matters is where your money is invested, how much risk you're taking and whether those investments match your financial goals.

Start by looking at your asset allocation

Group your investments into broad categories:

• Equity: Stocks and equity mutual funds.
• Debt: Fixed deposits, bonds and debt mutual funds.
• Retirement savings: EPF and other retirement investments, classified by their underlying assets where relevant.
• Cash: Savings accounts and readily available funds.
• Other assets: Property, gold and other investments.

Now look at how much of your money sits in each category.

Watch out for hidden concentration

You might own five mutual funds and assume you're well diversified.

But what if all five invest heavily in the same companies?

Similarly, owning multiple properties in one location could mean a large portion of your wealth depends on a single real estate market.

A useful portfolio review looks beyond the number of investments you hold.

It considers asset allocation, mutual fund overlap, concentration, liquidity and how each investment supports your goals.

The takeaway: A balanced portfolio isn't about owning more investments. It's about understanding what you own, where your money is concentrated and whether you're comfortable with the risks you're taking.