Is my portfolio good?

I have invested in the following schemes:

HDFC Taxsaver Fund – Direct plan
Kotak Select Focus Fund – Direct plan
Birla Sun Life Small and Midcap Fund – Direct plan
DSP BlackRock Opportunities Fund – Direct plan
Birla Sun Life Balanced 95 Fund – Direct plan
Is my portfolio good?
--Samarth Khandelwal

Vishal Dhawan, Founder, Plan Ahead Wealth Advisors, responds:

Your scheme selection is fine. Keep in mind that the equity markets look richly valued from a historical price to earnings perspective. You need to have at least a 10-year horizon and be prepared for volatility. If you are not comfortable with that, you can bring down the equity exposure in your portfolio. Mid and smallcap funds essentially look even more richly valued, and you may evaluate exiting the Birla Sun Life Small and Midcap Fund.