Should I quit my multicap mutual fund schemes?

I have been investing Rs 3,000 each in the following five multicap schemes since February 2018:
Motilal Oswal Most Focused Multicap 35-Growth, Direct Plan
Invesco India Contra Fund- Direct, Growth
DSP Blackrock Opportunities- Growth, Direct Plan
Aditya Birla Sun Life Advantage-Growth, Direct Plan
Principal Emerging Bluechip- Growth, Direct Plan
My risk profile is moderate, and my goal is to create wealth for the next five years.
These equity funds seem to be underperforming since the last month due to the market downfall. I have incurred a loss of around 12 per cent on my total investment. Please let me know if I can wait and continue with these funds or switch to some other better ones.
--Renu Rajendhran

One, you are not investing in five multicap mutual fund schemes. You are investing in a multicap scheme (Motilal), value-oriented scheme (Invesco) and three large and midcap schemes (DSP, ABSL, Principal). All these schemes are good performers in their respective categories. Just ensure that these schemes are in line with your risk profile and investment objective. A word of caution: try to have a slightly higher investment horizon of five to seven years.

As you have rightly observed, these schemes are hit hard by the current turmoil in the stock market. Continue with your investments during these troubled times to maximise wealth. Remind yourself that you buy more mutual fund units when you continue with your regular investments during a bad phase in the market.