If funds giving good return should be part of every portfolio or is there any caution

All three diversified equity funds mentioned by you have been among the top performers for a long period of time. All three funds are now diversified flexicap or multi cap funds. Many investment experts believe that flexicap funds should form a major part of a retail investors portfolio because they tend to do well in different market conditions. The large AUMs of ICICI Prudential Value Discovery fund and Franklin India Prima Plus implies that they are part of the portfolio of a large number of investors. There is a view among some investors that, when the AUM of a fund grows too big the performance suffers. While that may be true for small and midcap funds, large AUM base is not necessarily a drawback for large cap oriented funds like the ones mentioned by you. In fact many fund managers believe they are plenty of value investing opportunities in the large cap segment now. These funds are therefore expected to do well in the long term. However, like any other mutual fund investment, investors should monitor the performance of this schemes on an ongoing basis and make appropriate adjustments if required.