Top 5 Mistakes to Avoid when Investing in Mutual Fund Plans
1 Forgetting to Analyse your Risk Appetite before Investing
- Choose type of Mutual Funds based on Risk Appetite
- Avoid increasing the Risk factor in the future
- Invest in both Equity & Debt-based Funds to create a Balance
2 Not aligning your own Financial Goals with the Mutual Funds’ Goals
- Choose between a Long or Short term Investment, based on your requirements
- Note if the Mutual Fund Scheme is Open or Close-ended
3 Creating Over-Diversification or No-Diversification
- Choose One to Two Mutual Funds of same type every year to avoid Over-Diversification
- Don’t Invest in just One Fund as it increases the chances of Loss in the Future
4 Ignoring the Tax implications on Mutual Fund investments
- Mutual Funds are subject to Short & Long term Capital Gain & Dividend Distribution Taxes
- Choose the Growth, Dividend payout or Dividend re-investment options based on applicable Taxes
5 Failing to Track your Mutual Fund Investments from time to time
- Re-balance your Portfolio if your Risk Appetite, Financial Goals or Time Frame is not being met
- Replace under-performing Mutual Funds whenever Re-balancing your Portfolio
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