Not so good experience in Mutual Fund Investment?

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I invested in same SBI Magnum Midcap fund of amount 30000 in a 6 installments and the lowest purchased was on 18.5 rs in august 2008 and highest was in march 2008 of rs 25.4 per NAV. altogether i took average it came in between 22 rs. and current NAV is 17.4 and to get my invested amount i need to wait till NAV reaches 22 so that i will get the invested amount. and to reach that level at least we will have to wait to reach the index 20000 from current 13900. so today i gave the signed letter to sbi people for the redemption so i will get at least 240000 app. and invest in some chites funds and u will recover in a year than waiting for the mutual fund. Drawback of the mutual fund is that your money don't have any security and the company will take their share and they wont give any security to your amount. so people don't invest in mutual fund and find another alternative to your fund.