Chances are you bought your fund at least partly because of its good performance record. There's no need to panic, but it's time to closely monitor fund performance. Every stock and bond mutual fund has an investment style. For example, one fund might target small company stocks, while another fund might invest in longer, high-quality bonds. Even if the fund manager hasn't changed, your fund's investment style may have shifted.
Some funds perform well when they're relatively small but stumble as they grow large.
Some funds are managed efficiently, while other funds spend too much, ultimately reducing your investment return. Foreign stocks used to be exotic investments. Now, you may want to consider having at least a portion of your mutual fund portfolio in non-U .S. companies. Perhaps you recently got married or had a child. Or maybe your income has increased dramatically.