Should I exit Motilal Oswal Long Term Equity Fund?

How is the Motilal Oswal Long Term Equity Fund? I am investing in this fund for the last one year but it has fallen more than the benchmark as well as the category average. How is the fund manager and the portfolio of this scheme?
-- Niladri Nath
Jitendra Solanki, Founder, JS Financial Advisors, responds:

Among various ELSS scheme there is a difference of exposure in large cap , mid cap and small cap stocks. That is why these schemes react differently to volatility in the market. MOSL Long Term Equity Fund is a fairly new fund launched in 2015. It invests more than 20 per cent in mid cap stocks and rest in large cap stocks. Hence, you will find it moderately volatile but this scheme creates opportunities for better returns in the long run. You may also see more downside in some years than other funds. Since, it has a lock-in period of three years there is not much you can do. Watch for the performance of the scheme in the next two years and take a decision once you complete three years of lock-in.