Have I made the right SIP choices?

I am 28 years old and am just starting to invest in mutual funds via the SIP route. My purpose of investing is long term wealth creation and have moderate to high risk appetite. Can you advise me regarding my SIP choices:

1. Rs 5,000 per month in Reliance Small Cap Fund
2. Rs 5,000 per month in ICICI Prudential Value Discovery Fund
3. Rs 5,000 per month in HDFC MidCap Opportunities Fund
4. Rs 5,000 per month in Kotak Select Focus Fund
5. Rs 5,000 per month in SBI Bluechip Fund
6. Rs 5,000 per month in Birla Sun Life Equity Fund
7. Rs 15,000 per month in Mirae Asset Emerging Bluechip Fund.

All these investmetns are in growth options.

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-- Preet Amol Singh Bhatti

You have picked up top-performing schemes. You may continue investing in them. You are invsting in one smallcap, one largecap, three multicap, two midcap schemes. You have given a rather vague risk profile, moderate to high. So, it is not possible to correctly assess whether these schemes are in line with your risk profile and goals. If you have a moderate risk profile, you should stick to large and multicap schemes. Only if you have high risk tolerance, you should opt for mid and smallcap scheme. Also, the total exposure to mid and smallcap schemes should be around 20-25 per cent if you have a moderate risk appetite. You already have seven schemes in your mutual fund portoflio. Do not add more schemes, as it would become difficult to monitor them effectively.

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