Long Term Portfolio 70-80%
Short Term Portfolio 20-30%

Even 1 years seems to be long term! Short term investment is anywhere 1 year to 3 year. Period less then 1 year would come under Ultra Short Term. Investment horizon of more than 5 years should ideally fall under Long Term investments. Now a period between 3 to 5 years is combination of long term and short term and we would classify as Medium Term Investments.