Should I keep investing in an underperforming scheme?

Please suggest a mutual fund portfolio for my wife. She wants to invest Rs 10,000 per month for a period of 10 years. Which funds should she invest? What if a particular fund does not perform? Should I keep that fund for 10 years or start an SIP in a new fund? She considers herself as a moderate risk taker.
--Rahul Tiwari

If you have an investment horizon of 10 years, you should invest in equity mutual funds schemes. Equity gives superior returns than other assets over a long period. That is why it is considered to be the best asset class for long-term investments. Here are our recommended equity mutual fund SIP portfolios (Best mutual funds to invest in 2017). Choose a portfolio based on your risk profile and SIP amount.

If a particular scheme is underperforming its benchmark and category by a wide margin for more than one year, you should find out the reasons for its underperformance. If the reasons are not satisfactory, you should stop your investments, sell your investments and shift the money to a better scheme in the same category. Do not keep investing in a bad performer.