Should I sell my underperforming schemes?

I am 29 years old. I have a medium risk profile and I want to invest for long term. I want to start an SIP of Rs 15,000 and also want to invest a lumpsum of Rs 65,000. At present, I have SIPs in the schemes mentioned below.
1 Sundaram Select Midcap-Regular (growth) - Rs 2,000 for 9 months
2 SBI Bluechip Fund 0- Rs 2,000 for 10 months
3 DSP BlackRock Small & Mid Cap Fund- Regular (growth) - Rs 1,000 for 10 months
4 Franklin India Prima Fund (growth) –Rs 4,000 for 2 months

5 Franklin India Smaller Companies Fund (growth) - Rs 3,000 for 2 months
I am unhappy with performance of these funds. Should I redeem these SIPs and invest in some other funds? My total investment is Rs 62,000 & current value is Rs 65,999.
--Shadab Ahmed Khan

Harpreet Singh, CEO, Vserv Capital Services responds:

Investing in MFs is a patient, long-term game. You are lucky that in 9-10 months your investment has risen 6.45 per cent in absolute terms and some of your investments started only 2 months ago with the oldest being 10 months. Your effective return is approximately 15 per cent per annum in a period when you are buying expensive almost every month. Once the market enters a bear phase, you may even see negative returns for some time. What is important is to compare fund's returns with the benchmark. Still a review in less than a year's time is not advisable. The funds you selected are not bad. Please take the help of a qualified investment professional.