Investments through mutual funds help one attain various financial goals. If planned well, mutual fund schemes are not only financial products but they are also solution-providers, irrespective of whatever category of an investor one may be. Hence, if a mutual fund scheme is well thought of and selected and invested with a disciplined approach with focus on financial goals, the journey to attaining one's goals will be very smooth. However, the key here lies in selecting the right kind of mutual fund. In the process of choosing the right mutual fund, factors such as risk-taking abilities, financial goals and tenures help figure out which type of fund should an investor invest their money in.
Goals can be broadly classified into short-term, medium-term and long-term. Given the tenure, the types of schemes one should consider also differ. It essentially means that schemes which are suitable for the long term may not be advisable if goals are to be met in the short to medium term. Likewise, funds for meeting near to mid-term goals may not be appropriate for long-term financial goals. Investors with moderate risk appetite may look at hybrid funds for their various financial goals of different tenures. That said, hybrid schemes are suitable for any investors to meet their short to medium-term goals.
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