Can I invest more in any of these mutual funds?

I am 30 years old. I am investing via SIP in seven mutual funds:
Axis Bluechip Fund: Rs 2000
PPFAS Flexi Cap Fund: -1500
Kotal Flexicap Fund-1500
Axis Long Term Equity - 4000
DSP Tax Saver Fund-2500
Mirae Asset Emerging Bluechip-1000
ICICI Prudential Technology Fund-1500

I am investing for my child's higher education. Please suggest whether I can increase the amount in any of the above mutual fund. My investment Horizon 15-20 years I have high High risk appetite.
–Pankaj moudgil

Answered by Prashant Joshi, Co-founder & Partner, Fintrust Advisors:

Portfolio overlap between Axis Long term equity (ELSS) and Axis Bluechip is high. If you need ELSS fund for tax saving, you may stop allocating to Axis Bluechip fund. You can increase the allocation towards PPFAS Flexi Cap, Kotak Flexicap Fund & Mirae Asset Emerging Bluechip. Any sectoral allocation should be tactical and for a limited period. And since the client's risk appetite is high, additional funds can be allocated to Mid & Smallcap funds.