Mutual funds types are broadly classified on the basis of - investment objective, structure, and nature of the schemes. When classified according to the investment objective, mutual funds can be of 7 types - equity or growth funds, fixed income funds or debt funds, tax-saving funds, money market or liquid funds, balanced funds, gilt funds, and exchange-traded funds (ETFs). Based on the structure, mutual funds can be of 2 types - close-ended and open-ended schemes. When mutual funds are classified on the basis of nature, they can be of 3 types - equity, debt, and balance. There is an overlap in the classification of some schemes like equity growth funds which can fall under the classification based on investment objective as well as classification based on nature.
We have explained some of the types of mutual funds, below: Growth or Equity Schemes - These funds invest in equity shares and the investment objective is capital gains over medium or long-term. They are associated with high risks as they are linked to the highly volatile stock markets but over the long term, they offer good returns. Hence, investors having a high appetite for risk find these schemes to be an ideal investment option. Growth funds can further be classified into the diversified, sector, and index funds. Revision in Notification No:- APE-55/2018-19-Main-CNF issued on date 13.09.2019
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