Should I redeem my investment in SBI Large & Midcap Fund?

My investment in SBI Large & Midcap Fund (erstwhile, SBI Magnum Multiplier Fund) has completed seven years in January this year. I didn't redeem the amount. It was 1,74,000. But now it is 1,52,000. Should I redeem it or wait for markets to move up. I had invested Rs 87,000. I am confused. Kindly advise.
--Fareetha Yasmeen

Raghvendra Nath, managing director, Ladderup Wealth Management, responds:

Equity markets are usually very volatile where you get an above average return. The fund has performed decently and outperformed the benchmark over the past seven years. If you want to use this money to meet your expense requirements or any goal which is due in short term, then I would recommend you start an SWP to avoid withdrawing all the money from the scheme when the markets have corrected sharply. If you have no requirement for the funds, you should hold on to your investment in this fund.