Looking for mutual funds to invest in August? Here are 10 top picks

Many investors search the internet and look for the best or top mutual funds to invest to create wealth and achieve their target corpus. However, there is no guarantee that the results may offer you personal or correct help.

Most often, the schemes which get shortlisted may be on the basis of their stellar short-term performance. Sometimes, the schemes from a single category may dominate the list of best performing schemes because that category happens to be the flavour of the season.

Most best or top mutual funds may be sorted on the basis of short-term or long-term performances. Historical performance alone can’t be the criteria to start investing.

ETMutualFunds selected 10 funds from five equity mutual fund categories. Investors should choose mutual funds based on their goals, investment horizons, and risk profile.

The methodology for selecting the top 10 funds is mean rolling returns, consistency in the last three years, downside risk, outperformance, and asset size.

These schemes invest in equity (65-80%) and debt (20-35%). They are ideal for conservative investors. Our picks: SBI Equity Hybrid Fund and Mirae Asset Aggressive Hybrid Fund.

These schemes invest in top 100 companies by market capitalisation. They are ideal if you want to grow wealth without taking too much risk and volatility. Our picks: Canara Robeco Large Cap Fund and Mirae Asset Large Cap Fund.

These schemes are recommended to moderate investors. Flexi cap schemes invest across market capitalisations and sectors. Our picks: Parag Parikh Flexi Cap Fund and HDFC Flexi Cap Fund

They invest in mid-sized companies. They can be risky and volatile, but have the potential to offer higher returns. Our picks: Axis Midcap Fund and Kotak Midcap Fund.

These schemes are recommended only to individuals who can afford to take very high risk and volatility. They also should have a long investment horizon. Our picks: Axis Small Cap Fund and SBI Small Cap Fund.