Should I sell Aditya Birla Sun Life Tax Relief 96?

I had invested in Aditya Birla Sun Life Tax Relief 96 Fund. I had an SIP in the fund between July 2017 and June 2019. The scheme used to offer an IRR of 10-12%, now it is offering 7%. Other schemes in same category are giving 10-12%, it is only giving 7%. Slowly the IRR is decreasing as growth has stopped now. So please suggest and advice me should I hold on to this scheme or should I exit? My aim is long-term wealth creation. I have a high risk appetite. Should I withdraw the money and invest in other fund?
--Santosh Kumar

Aditya Birla Sun Life Tax Relief 96 Fund has been underperforming both its benchmark and category in the last three years. The scheme returned around 4.30% in 2019, lower than 8.98% offered by its benchmark. The category offered 8.25%. In 2020, the scheme offered 15.29%, compared to 18.41% by its benchmark, 16.16% average return by the category. The scheme again failed to beat its benchmark in 2021, too. It offered 12.68%, much lower than 31.63% offered by the benchmark. The ELSS category offered an average return of 31.92%. Looking at rolling returns, the scheme has failed to beat its benchmark in all time horizons, ranging from one to five years. The scheme has been offering poor risk-adjusted returns. It has around 32% investments in mid cap stocks. That’s another cause for concern in a volatile market. Of course, the allocation can also pay off when the market turns around. If you are tired of waiting for the scheme to bounce back, you may sell your investments. You can invest the proceeds in an existing scheme according to your risk profile and asset allocation.