Best mutual fund schemes to invest for 10 years

I have invested in three mutual funds via SIPs; Franklin India Tax Shield (G) and ICICI Prudential Long Term Equity Fund (Tax Saving, G) to save taxes, and Mirae Asset Emerging Bluechip - Regular (G) to create wealth. Of these, only ICICI Prudential Long Term Equity Fund is working as expected. Is this composition okay for me to gain some money in a span of five years? Otherwise, could you suggest me any better schemes for five years. Currently, I am investing Rs 4,000 per month but I can invest up to Rs 5,000.

Can I accumulate a wealth of at least Rs 10 lakh in five to 10 years if I invest Rs 5,000 per month? Which funds should I invest? Since I can’t understand midcap, smallcap, etc, I need you to suggest some specific funds that could do well.
-- Satish Reddy

Chokkalingam Palaniappan, Director, Prakala Wealth Management, responds:

If you invest Rs 5,000 per month, assuming an annual return of 12 per cent, you will be able make Rs 10.50 lakh in 10 years. You may reorganise your investments as follows:


IDFC Tax Advantage Fund (ELSS): Rs 3,000 per month (for saving tax under Section 80C)
HDFC Small Cap Fund: Rs 2,000 per month