Should I invest in SBI Magnum Multicap Fund?

I am a 29-year-old long-term investor with a moderate-to-high risk appetite. My goal is wealth creation.

As of now I am investing in the following schemes:
1. ABSL Frontline Equity Fund - Growth - Regular: Rs 2,000 pm since January 2016
2. HDFC Mid Cap Opportunities - Growth - Direct: Rs 2,000 since January 2018 (for 18 years)
3. HDFC Small Cap - Direct: Rs 2,000 since January 2018 (for 18 years)
4. L&T Midcap Fund - Direct: Rs 3,000 since January 2018 for 10 years

My queries are:

1. My ABSL fund will be stopped from next month. Should I keep the amount invested or should I withdraw it?

2. Am I investing in the right funds?

3. I want to add another Rs 3,000 to my monthly SIP. I have shortlisted Mirae Asset Emerging Bluechip Fund or SBI Magnum multicap. Which should I choose?
--Trupti Mohite

You have not said why you are selling ABSL Frontline Equity Fund that you have been investing for just two years. If you are doing it to invest more in aggressive schemes like midcap and smallcap schemes, you may take the money out and invest in one of the schemes you are already investing.

You should sharply define your risk profile. We have noticed that those who say their risk appetite is moderate to high tend to switch from one profile to the other based on the market conditions. If you want a mutual fund portfolio with moderate risk, you should invest more in multicap schemes. If you want it to be aggressive to maximise wealth over a long period, you should invest more in midcap and smallcap schemes.