Are these schemes good for my mutual fund portfolio?

I am currently investing Rs 2,500 per month in Kotak Standard Multicap Fund and Axis Bluechip Fund. I have an investment horizon of five to seven years. My risk profile is moderate. Are these schemes good for my mutual fund portfolio? Please suggest one more scheme to invest Rs 2,500 extra.
--Goutham Reddy

Jitendra Solanki, Founder, JS Financial Advisors, responds:

You have chose good schemes, but an ideal horizon to invest in equity mutual funds is seven to 10 years. If you invest for 5 years, you might witness higher volatility in your mutual fund portfolio. If you can take such high risk, you can continue with your investments.

Instead of adding another scheme to your portfolio, you can invest the extra amount in your existing schemes. You can invest the additional amount in Kotak Standard Multicap Fund.