Do I need to make changes in my mutual fund portfolio?

I have started three SIP in the past one year. I am investing Rs 2,000 each in the following funds:
L&T Emerging Business Fund
DSP Midcap Fund
Kotak Standard Multicap Fund
My investment horizon is 15 years. After one year there is a small dip in the current value of my investment which I understand is because of the market correction.
I would like to know if my current mutual fund portfolio is fine or do I have to change anything?
--Aravind Babu

Deepali Sen, Founder, Srujan Financial Advisors, responds:

The portfolio you have built has a very high concentration towards small and mid cap funds (67 per cent). Please ensure that exposure to mid and small cap funds does not exceed 15-20 per cent. While the funds have been performing well, their universe is high risk. Also, start investing in diversified, large cap mutual funds through SIPs to diversify your portfolio.