You should put the fund under watch and see how it shapes up over the next 3–6 months. Abruptly quitting a fund is not a good idea. It is like pulling out a plant and trying to plant it elsewhere.
Fund performance should be benchmarked against peers in the category as well as the Index such as Nifty or BSE Sensex. If the fund is underperforming both relatively and absolutely then you must watch it.
Relative underperformance can be tolerated for some time, and with he help of an advisor you can move out taking into account exit loads and tax implications.
