Should I sell Canara Robeco Emerging Equities Fund?

Should I sell Canara Robeco Emerging Equities Fund? The fund manager has recently quit the company and it is even underperforming its benchmark index.
-- Abhishek Jain

Chokkalingam Palaniappan, director, Prakala Wealth Management, responds:

In general, most of the midcap and smallcap funds have taken a beating in the past few months. Most fund houses have started reducing the fund manager risk by putting proper processes in place. If you are an active investor, you may switch to some other better performing small- and mid-cap funds such as HDFC Small Cap Fund.