Please comment on this mutual fund portfolio.?

I intend to invest in mutual funds through SIP. The funds and the corresponding monthly SIP amount (in Rs) are as follows:
SBI MAGNUM TAXGAIN: 2000
HDFC TOP 200: 2000
UTI DIVIDEND YIELD: 2000
BIRLA SUN LIFE DIVIDEND YIELD PLUS: 2000
ICICI PRUDENTIAL DISCOVERY: 2000

Please comment on choice of the funds. My aim is to remain invested for approx 20yrs. In all cases, growth option is implied. Do you suggest any changes in this portfolio to minimize risk and maximize return?
After reading the responses, I have some more questions to ask:
1. Why should one be interested more in midcap funds rather than large cap funds?
2. What is wrong with having more than one dividend yield fund?

Please comment on this mutual fund portfolio.?

Based solely on returns (moderate/high) and risk (low) suppose one decides to invest in the following funds. Please give your opinions whether this portfolio is a good one in the long term: Hdfc Top200 (27%), Hdfc Prudence(9%), Birla Sunlife Dividend Yield(9%), Idfc premier equity plan A (18%), Sbi magnum taxgain(18%), Uti dividend yield(18%). The aim is to maximize return, taking low risk. If you have any other suggestions to share regarding building reasonable portfolio, please share with me.
Another question, is it better to invest through SIP in more funds with smaller amounts or to invest large amounts in smaller number of funds. Thanks.

Can you comment on Max n/wLife insurance ULIPs …?

Hi…I was kind of forced to take one ULIP policy of Max N/W life insurance by my friend…I’ve been paying for the last one year…I’m pretty much new to this insurance and investments…
I opted for Growth Super fund.
Can you tell me how good this plan is ? Should I make any changes in my policy. Any other reference or information regarding ULIPs will be beneficial to me for better understanding of how it works etc.

Thanks so much.

Can anybody comment on my investment in Bharti AXA and ICICI prudential Plans.Am i Fool?

Dear Friends,
Initially i was just unaware of of long term investments and risk benefit ratio of varoius ULIP life insurance plan.So i invested in Bharti AXA (Aspire Life-Grow Money ,started in Feb 08) with Rs 2000/month SIP for 20 year term.And At the same time In ICICI prudential Life Stage pension Rs 15000/Year pension plan. SURRENDING THESE POLICIES GIVES NOTHING,plz any body can expect the return after 20 years.