Investment Advise

I recd a mail from one Vincent
" dear sir,

I HAVE INVESTED IN THE FOLLOWING FUNDS PLEASE HELP ME OUT MY LEARNED FRIEND AND I WILL BE VERY GRATEFULL-
1. HSBC UNIQUE OPPURTUNITIES FUND ( RS 10000)
2. SUNDARAM BNP PARIBAS SELECT MIDCAP APPRECIATION (sip rs 2000)
3. HDFC MIDCAP OPPURTUNITIES FUND - GROWTH
4. TATA SIP FUND SCHEME -I ( total rs 10000)
5. FRANKLIN TEMPLETON FLEXICAP FUND ( sip rs 1000)
6. ICICI PRUDENTIAL DYNAMIC PLAN CUMMULATIVE ( sip rs 1000)
PLEASE HELP ME OUT . I HAVE ALREADY INVESTED THROUGH SIP IN THESE FUNDS SINCE APRIL 2007 WHAT MUST I DO NOW SHOULD I KEEP THEM OR SWITCH OVER TO SOME OTHER MUTUAL FUNDS.
THANKS FOR YOUR HELP IN ADVANCE!!!

VINCENT"

My reply was :::
"""Dear Vincent,
At the outset, I must say that your portfolio is titled towards mid-cap funds and Major Rejig at once.
HSBC Unique Opportunities Fund should be switched to HSBC Equity Fund to give protection in these volatile times.
Sundaram Select Mid Cap Fund has been a good performer in the past, but has been a laggard in recent times. But one gets the feeling you can continue to remain invested in the fund and review at the end of 2nd quarter. Till further fresh call, you please reduce your sip amount from 2000 to 1000.
HDFC Mid-cap Opportunities Fund has been a dud among HDFC Funds, you would be better off if you switch to the better performing fund HDFC Prudence Fund. This is a Balanced Fund and would also give your portfolio some semblence of stability in times of heavy Downtrend in Market.
Tata Sip Fund is a close ended fund, so you can't do anything till it completes 3 years. Stay invested and take a call on the fund at the time of the fund becoming open ended.
Franklin Templeton Flexicap Fund has a mandate of investing across market cap but the fund has struggled to give decent returns. You can redeem the fund and start a fresh SIP in JM Contra Fund which tough a Contra Fund has given good returns since its launch and is managed by Star Fund Manager Sandeep Sabharwal.
ICICI Dynamic Plan is again an Aggresive Fund and with its Dynamic Style of investing tends to be very volatile. Since you would be switching from HSBC Unique Opportunities Fund and reducing your sip in Sundaram Mid cap , you can continue your sip in the fund. Though you are advised to keep booking regular profits and thus change the option from Cummalative to Dividend Payout.

Since you will be saving 1000 from Sundaram Select Mid Cap, you should consider investing the same in Large Cap Fund like Birla Sunlife Frontline Equity Fund, DSPML Top 100 Fund or HDFC Top 200 Fund.
Your portfolio lacks Large Cap Funds. In these times of high volatility, you will be better served only by Large Cap Funds. """