I have 15 multi-cap funds in my portfolio and I now want to consolidate them. How should I decide which funds should be retained? Also, should I move these in a lump sum or through SWP?
This is a very common phenomenon among investors. Many people invest in too many funds. But this doesn't add any value. With 15 multi-cap funds, there is quite a high possibility that the returns on your portfolio would be quite similar to that of an index-fund, while incurring the cost of an actively-managed fund. So you really need to consolidate these. A set of two to four multi-cap funds is sufficient for most of your needs.
You should keep those funds which have a longer period of consistent out-performance. A great mutual fund is one which falls a little less in a falling market and rises little more in a rising market. This can be demonstrated only over a full market cycle over long periods. And I am sure you will not have more than three to four of these in your portfolio.
Then to re-align in terms of moving your money out of 11 funds into the selected three or four funds, spread the money equally in these funds and carry on. You can move your money in a lump sum. The whole idea of investing in a systematic manner is to avoid catching a market high and to average your investments. Since this money is already invested in equity there is no need to average it again.