Are these mutual fund schemes good for long term investment?

I am investing in the following mutual fund schemes via SIP to build a corpus:
Axis Bluechip Fund: Rs 4,000
Kotak Standard Multicap Fund: Rs 5,000
ICICI Prudential Equity & Debt Fund: Rs 1,000
Mirae Asset Emerging Bluechip Fund: Rs 4,000

Are these schemes good for a long term investment horizon? Also, what returns can I expect in the long term?
–Juber Loharia

Suresh Sadagopan, Founder, Ladder7Financial Advisories, responds: 

If you are looking to invest for long term, then an equity oriented portfolio should be fine.

Investments need to be done based on one’s risk profile, goals, liquidity, tenure, income needs, etc. You have not provided any information.

Overall, your portfolio has too many funds. I would suggest just three funds- a large cap, a multi cap and a mid cap scheme. You may consider investing in Mirae Asset Large Cap Fund, Kotak Standard Multicap Fund, and HDFC Mid-Cap Opportunities Fund. All the amount you would like to invest can be put in these three mutual fund schemes.

[“source=economictimes.indiatimes”]