5 things to keep in mind while selecting mutual fund scheme.
Every mutual fund investments carry a certain amount of risk which may pertain to returns, market volatility, interest rate change, etc.
Confusing and Challenging - These two words that come to one's mind while choosing a mutual fund scheme. There are so many schemes present in the financial market and selecting the same as per one's risk appetite, becomes very difficult most of the time.
Every mutual fund investments carry a certain amount of risk. These pertain to returns, inflation, market volatility, interest rate change, ratings, etc. It would be wise to have a sound understanding of each risk before selecting a fund,
This involves analyzing relevant questions like determining your financial goals, your investment plans and the amount of risk one can afford. This planning will eventually demarcate the number of investments you need to do. Therefore, while selecting a fund for investing your money, you should keep following points in mind.
Before selecting a fund, you should identify the investment objectives. The purpose of your investment can be anything – from buying a home to ensuring a regular income for your retirement plans.
"Every mutual fund has an investment objective, which states its theme and asset allocation strategy. Checking the investment objective of a fund will help you to find out whether it fits in well with your financial goals, risk appetite and liquidity position
Simply comparing the past performance never works well unless you are lucky enough to get good returns selecting any of the schemes. "Comparing the past performance of a fund with its benchmark indices and peer funds will allow you to find out the consistency of its performance across various market conditions. Instead of just limiting the comparison to the recent past, compare the funds.
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