Shall I redeem some part of my small-cap holdings as they are more volatile?

I have three funds - one each of large cap, mid cap, and small cap. The small-cap fund makes up about 23.67 per cent of the total value of fund investments. Considering that small-cap funds are very volatile and the market is at its peak, should I trim my allocation in small caps to about 8-10 per cent and keep the redeemed amount in my bank account, considering my investment horizon is for the long term?
- Mohan

This article was originally published on September 22, 2021.