Am I investing in right mutual funds?

I am 23 years old. I want to start investing in mutual funds through SIP. I want to invest Rs 4,000 per month. I have shortlisted three funds. Are they good?
Axis Bluechip
Parag Parikh Flexi Cap
UTI Flexicap
Please guide me.
--Sarhan Patel

It seems you are new to mutual funds. If you don’t know the basics of mutual funds and investing, you should seek the help of a mutual fund advisor. Gain some knowledge and experience before starting to invest on your own. If you make wrong choices and decisions, you will lose money. Many new investors often get spooked by the experience and stop their investments. That is why we advise new investors to invest under expert advice.

When you are investing a small amount, it is not possible to diversify your investments by investing in several mutual funds. It often results in over diversification and compromise returns. It is always better to invest in a good flexi cap fund. These mutual funds invest across market capitalisation and sectors. The schemes can invest anywhere depending on the view or outlook of the fund manager. That is why they are considered ideal for moderate investors to create wealth over a long period as they allow investors to have a diversified portfolio. You can consider investing in our recommended flexi cap funds: Best flexi cap funds to invest in 2023