I have been holding these investments for 5 years and it is still in the red, should i just cut losses and put into a better investment? Or continue holding and wait until it breaks even?

Do you still believe in those companies? Do these stocks pay you dividends? Do you have a better investment to park you money if you were to see these investments?

If it is ILP, cut.

for investments like REITs or China-focus, it should be slowly recovering if you had DCA.

basically, you have to ask yourself whether the reasons for buying it in the first place is still valid now.