Should I sell my investments in HDFC Balanced Advantage Fund?

I have invested in HDFC Balanced Advantage Fund with a one-time money deposit in dividend scheme in 2017. I invested for a long-term investment horizon of at least five years. However, my investments have remained in the negative zone for most of the time. I invested Rs 6 lakh and the current value is Rs 4.75 lakh only. Should I withdraw the amount or continue with the same?
--Aakash Singh

Prableen Bajpai, founder & managing partner, Finfix Research & Analytics, responds:

Back in April 2018, to comply with SEBI categorisation rules, the HDFC Prudence fund was merged into HDFC Growth Fund resulting in the formation of the HDFC Balanced Advantage Fund. The changes made due to the mandate requirement and the market movement during that time period resulted in some downside for the fund, although when seen from a larger time-horizon. Another reason for the fall in the NAV of your fund is the fact that you have chosen the dividend option and the fund has been giving a monthly dividend since last year. Any dividend pay-out reduces the NAV and thus your current investment value appears much lower. Please factor in the amount of dividend received during this time period while judging its performance. The fund has an equity element and it should be given a five-year period at least to prove its worth.