Which mutual funds will give me high returns in a year?

I started working a year ago and I have a savings of around Rs 60,000. I want to invest the amount in investments that will give me high returns within a period of one year. I am willing to take high risks. Please advise
--Gopi Karelia

If your investment horizon is just a year, you should not take high risk. It is not wise to expose your money to unnecessary risk if you have a short investment tenure. Your priority should be to protect your capital when you are investing for a short period. There is a logic behind this strategy: you can’t make up for the losses when you are investing for a short period. This is the reason why investment experts and mutual fund advisors recommend risky investments to investors only if they have a long investment horizon. For example, mutual fund advisors ask investors to go for equity mutual fund schemes if they have an investment horizon of five to seven years.

Finally, since you are beginning your earning life, here are a few pointers you should consider before proceeding further with your investment adventure. One, do not chase returns. You should always chase your goal. Chasing returns often ends in disaster. Identify your various financial goals. As a rule, invest in debt mutual funds for short-term goals that need to be achieved within five years. For long term goals like retirement, you may consider investing in equity mutual fund schemes. You must consult a mutual fund advisor or financial year before starting your investment life. Most investors need lot of guidance and reassurance in the initial years of their investment life.