Should I continue my mutual fund SIP after one year?

I have invested in three mutual fund schemes: ICICI Prudential Balanced (Growth), SBI Bluechip (Growth) and L&T Emerging Businesses Fund. I have invested via SIP of Rs 5,000 per month in each fund for one year (12 instalments). After one year should I keep the money in the same fund and stop the SIP or continue SIP again for one more year or redeem and put the money elsewhere?

-- Shruti Choudhury

Ankita Tanna Narsey, founder, Oaktree Financial Advisors, responds:


You have picked up good funds for a long term investment horizon. In order to gain maximum benefit of compounding, I suggest you to continue your SIPs for a minimum period of 5 years. But do monitor your investments on regular basis & in case any of the fund is non-performing perpetually then consider, changing the fund.