Can I hold on to SBI Magnum Global Fund?

I have an SIP of Rs 2,000 in SBI Magnum Global Fund - Regular (G). Should I stay with this fund? If I have to switch, which fund would you suggest? My total investments are given below.
1. Rs 2,000 via SIP in SBI Magnum Global Fund - Regular (G) for the past 2.5 years
2. Rs 1,000 via SIP in SBI Bluechip Fund
3. Rs 1,000 in RD at 10 per cent interest for ten years
4. Rs 1,000 in PPF

Also, Rs 25,000 in SBI Magnum Taxgain Scheme and another Rs 25,000 in IDFC Tax Advantage (ELSS) Fund - Direct (G).
This is my portfolio. Are these schemes good? Should I make any changes?
-- Sanjeev Singh

Gaurav Monga, a certified financial planner, responds:

SBI Magnum Global Fund is a thematic fund that invests in companies that follow the MNC theme. Since the performance of thematic funds depends on a specific theme and is also cyclical in nature, you can divert this amount towards a diversified multicap equity fund like Kotak Select Focus Fund or Mirae Asset India Equity Fund.

I would recommend you to invest in tax savings mutual funds through SIPs rather than making lumpsum purchases. Here are my recommendations:

1. Franklin India Tax Shield Fund
2. ICICI Prudential Long Term Equity Fund (Tax Saving)