Everyone and their dog is investing in a mutual fund now, especially with a rush of new fund offers. But, how many schemes does your investment portfolio need? Financial planners say that 8 to 10 is a good number, for reaching your financial goals and for getting adequate diversification. Keep in mind that merely adding new schemes does not diversify your portfolio. It is important to look for schemes that can give a measure of stability to your portfolio when one type of scheme does poorly. Also, don’t just rush into a scheme because of its recent performance, or because the distributor is pushing it.