Mutual funds are investment vehicles that pool money from multiple investors to invest in a diversified portfolio of stocks, bonds, or other securities. A professional fund manager manages the fund's investments based on a specific strategy. Investors buy shares of the mutual fund, and the value of these shares fluctuates based on the performance of the underlying securities. Mutual funds provide a way for individuals to access a diversified investment portfolio without directly buying and managing individual securities.
What are the different types of mutual funds available?
There are various types of mutual funds catering to different investment goals and risk tolerances. Some common types include equity funds (investing in stocks), bond funds (investing in fixed-income securities), balanced funds (mix of stocks and bonds), index funds (tracking specific market indices), sector funds (focused on specific industries), and target-date funds (adjusting asset allocation based on the investor's target retirement date). Each type has its own risk and return profile, allowing investors to choose based on their financial objectives.
How to invest Rs. 1000 rupees in mutual fund?
There are two ways to invest Rs.1000 in mutual funds. You can opt for a SIP or you can go for a lumpsum order. The latter is a one-time investment while SIP is a recurring investment plan. Most Indians prefer to use SIP to invest in mutual funds because it helps them achieve big financial goals like saving for their child's college or building a retirement plan.
How to invest in mutual funds on the EduFund App?
To invest in mutual funds, all you need is an investment account on the EduFund App. Once you have successfully set up an investment account, you can explore over 5,000 mutual funds and invest in them without any hidden charges.
What's the best way to choose a mutual fund?
In order to select a mutual fund, you need to define your financial goal. For instance, if your goal is to save for your child's college with mutual funds, you need to figure out the cost of your child's college before starting. You can use EduFund's College Cost Calculator to know the future cost, once you have your goal amount, you can choose the suggested top-performing funds. You can also further customize and consult our savings experts to know the best funds you can opt for!
How long does it take to set up an investment account on the EduFund App?
You can set up a FREE investment account on the EduFund App in 5 mins. The entire process is digital and if you have all your documents in place, you can complete the process in one-go.
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