Can a cautious investor pick Axis Bluechip Fund, Mirae Asset Hybrid Equity Fund?

I am 30 years old. I have started SIP in two mutual funds: Axis Bluechip Fund (Rs 2,000) and Mirae Asset Hybrid Equity Fund. Since I am a new investor, I have started investing for long-term wealth creation. As of now, I am investing in these two schemes. Please let me know if I can go for any other funds? My risk profile: cautious; Time Horizon: Long term.
--Suresh Sharma

If you are a long-term investor with a cautious approach, you can invest in large cap schemes or aggressive hybrid schemes. So, you have chosen the right categories for you. You also have chosen good schemes. You may continue with them.

However, a word of caution. A few random investments will not help you to achieve your long-term financial goals. You should adopt a goal-based investment approach. Identify a goal, find out the money needed to achieve it, and then find out how much you would required to achieve it with annual inflation of 8%. For example, a goal costs Rs 1 lakh today. The same goal would require Rs 4.66 lakh at 8% inflation after 20 years. You need to invest Rs 467 every month to achieve it after 20 years, assuming an annual return of 12%.