10 profitable mutual funds to invest in to become rich fast in India

Mutual funds are the safest way to get exposure to the equity markets. Inherently they are designed to be diversified and are managed by a team of professionals. Therefore, market risk is better managed. There are several types of mutual funds such as equity oriented, debt oriented, balanced or hybrid mutual funds, ELSS, to name a few.

“It is advisable not to approach mutual funds to double one’s money, rather invest in well-diversified funds and based on one’s risk appetite pick a fund that matches your investment return needs. Long-term mutual funds have historically provided 12% to 15% per annum return, which would approximately mean that if money is invested now in one of these funds at 15% annual return rate, the initial investment kitty would double in size after a few years,” says Rahul Agarwal, Director, Wealth Discovery.

Below is a list of mutual funds which have consistently provided superlative returns and do stand out as better investment choices. The time horizon that is recommended for these funds is between 5 and 7 years. “Some of the schemes do consist mid cap and small cap funds which are more riskier than their counterparts. However, the risk reward is attractive and they are ideal candidates for a portfolio of diversified mutual funds,” says Agarwal.

(These mutual funds have been recommended by Rahul Agarwal, Director, Wealth Discovery. Although due care has been exercised by them while selecting these funds, readers are advised to consult their financial adviser before investing in any of these funds)