Should my father hold on to SBI Equity Hybrid Fund?

My father had invested Rs 10 lakh in SBI Equity Hybrid Fund (regular, dividend). The total value of his investments now is Rs 9.70 lakh, Rs 30,000 lower than the invested amount. He is confused whether he should stay with the fund or move out as the market is down. Also, he is not sure whether he will get the dividend or not.
--Rana Banerjee

Shweta Jain, founder, Investography, responds:

The investment in equity related funds always carries the risk of loss in capital. He should stay invested for now. Dividends are not guaranteed and they are actually just given out from his own funds. Ideally, don’t invest in hybrid funds for dividends, invest in them for growth. If he needs regular cash flow, move some money to a debt fund and do an SWP from there.