Have I chosen the right mutual funds?

I need your help for the right direction of my portfolio. I want to create wealth for my future. My portfolio has the folowing schemes:

Axis Long Term Equity Fund (ELSS): Rs 1,000
Mirae Asset Emerging Bluechip Fund: Rs 1,000
Axis 25 Focused Fund: Rs 1,000
ABSL Equity Fund: Rs 1,000
ICICI Midcap Fund: Rs 1,000
HDFC Top 100 Fund: Rs 500
DSP Equity Opportunities Fund: Rs 500
SBI Magnum Multicap Fund: 500
L&T Midcap Fund: Rs 500
SBI Small Cap Fund: Rs 500
-Suman Ghosh

Gaurav Monga, Director, PxG consultants, responds:
Currently, you are investing through SIPs in nine equity schemes. Higher number of schemes leads to over-diversification and under-performance of the portfolio. Ideally, the number of schemes in the portfolio should not be more than four or five. Therefore, you should bring down the number of schemes. Assuming that you have an aggressive risk profile since you are investing in small and mid cap schemes, you can consolidate the portfolio by increasing weights in the following schemes: Mirae Asset Emerging Bluechip, Axis Focused 25 Fund, Aditya Birla Sun Life Equity & SBI Small Cap Fund.