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Withdrawing From Reliance Tax Saver

Three year lock-in is mandatory while investing in an equity linked saving scheme

I bought Reliance Tax Saver MF on May 21, 2005 for Rs 50,000 with a lock-in period of three years. I received dividend of Rs 5,000 per year over the first two years. The fund’s current NAV (June 4, 2009) is Rs.14.17. Is it a good time to sell this fund? I do not have plans to keep it for long.
-    Shiva

Reliance Tax Saver is 3-star fund. So far, the performance of the fund has been just about average. This mid-cap oriented fund has delivered an annualised return of 5.58 per cent over the past three year ending June 8, 2009 that is almost equal to that of the category average of tax-planning funds. You invested in this fund for tax saving purpose and your lock-in period of three years in the fund is over. So, if you need money you can withdraw from the fund.

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