Yes, there are several types of Mutual Fund schemes – Equity, Debt, Money Market, Hybrid etc. And there are many Mutual Funds in India managing several hundreds of schemes amongst them. So it may appear that zeroing on a scheme is actually a very complex and confusing affair.
Choosing the scheme to invest in should be the last thing in an investor’s mind. There are several more important steps before that, which will help remove much confusion later.
An investor should first of all have an investment objective, say retirement planning or renovating one’s house. The investor has to arrive at two figures – how much would this cost and how long it would take, while also knowing how much risk can be taken.
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