Should I stop my SIP in Axis Mutual Fund schemes?

I need help to know if I should stop my SIP in Axis funds. I have been investing in Axis Bluechip Fund and Axis Focused 25 Fund for over two years. Both of them have been underperforming and have not been able to recover even after the market is at an all-time high. Is it due to the scam as Axis Mutual Funds have been performing the best for the past many years but after the scam came out its not gaining any momentum.
–Vivek Pandey

Both these Axis schemes have been performing poorly in the last two years. In fact, most Axis equity schemes have been underperforming in this period. Axis Focused 25 Fund has underperformed both the benchmark and category by seven percent points. The scheme was down 10% in this year so far, again lagging its benchmark and category that offered 8% and 4% respectively. Axis Bluechip Fund underperformed the benchmark and category in 2021.

It has given negative returns this year, whereas its benchmark and category have given positive returns. However, you cant link the poor performance to the front-running episode. The fund house was known to take bold calls. It is also known to buy growth stocks by paying higher prices. The schemes started faltering when the market became conscious about valuations and price. Market always favour certain investment strategies during certain periods. However, judging the performance based on a market phase could be misleading. The strategy may be favoured in the coming days. Or the fund house may change its strategy.

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