You really need to review your entire finances - borrowings, other investments, etc. It's not possible to say if this fund is appropriate for your needs or not.
Having said, that it's a reasonably good stand-alone fund, and the money is as good there as anywhere else.
If the fund is worth less today than you invested in it, then you should retain it as any gains from here until the purchase value will be free of tax.
Let's say you invested €20,000 in it which is now worth €15,000.
Say you cash the Summit Fund and invest it in the Evergreen Fund from New Ireland. Say you later cash the Evergreen Fund when it is worth €20,000, you will pay 30%(?) exit tax on the profit of €5,000.
By comparison, if you leave the money in the Summit Fund and cash it when it recovers to €20,000, you will pay no tax on it.