Is my fund selection good?

I am 40 years old. I started investing in mutual funds very late. From last three years I have been investing in the following funds:
HDFC Prudence Fund (G)
HDFC Equity Fund (G)
UTI-Unit Linked Insurance Plan
I started investing in HDFC Top 200 Fund and HDFC Balanced Fund since a year. All schemes are growth plans and of Rs 1,000 per month. Is my fund selection good?
--Ganesh Chaudhari

Deepesh Mehta, a Certified Financial Planner, responds:

HDFC Prudence Fund and HDFC Balanced Fund are similar in nature. You can continue with any one of them. Add a debt fund in your portfolio to bring some stability in it during corrections. Keep investing for a long term to get benefited from the same.