Should I stop my SIPs?

I am a 24-year-old man working in an MNC. Currently, I invest Rs 24,000 via fortnightly SIPs in the following:
1. Reliance Mid & Small Cap Fund (D) - Rs 3,000
2. ICICI Prudential Value Discovery Fund (D) - Rs 3,000
3. Motilal Oswal MOSt Focused Midcap 30 Fund - Regular Plan (D) - Rs 3,000
4. Aditya Birla Sun Life Frontline Equity Fund (D) - Rs 3,000
Tracking their performance, I found out that the first three schemes are performing relatively poor. Should I ask my broker to stop the current SIPs and rather invest in some other SIPs? Or should I continue with these?
--Rishi Jain

Deepali Sen, Founder, Srujan Financial Advisors, responds:

Given that mid and smallcap stocks are hugely overvalued in today's times, and the fact that nearly 50 per cent of your monthly surplus is getting invested in midcap mutual funds (it ought to have been in the range of 10-15 per cent); it will make sense to stop your SIPs in Reliance Mid & Small Cap Fund and Motilal Oswal MOSt Focused Midcap 30 Fund. The same amount can be invested, through SIPs, in the other two funds which are already a part of your portfolio. You could also look at investing in Franklin India Prima Plus Fund through SIPs.