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The study emphasizes the importance of understanding one's risk profile and time horizon when choosing mutual funds as an investment option. It recognizes the vast array of mutual funds available in India and acknowledges that selecting the best ones depends on individual preferences and financial goals. The risk profile, which includes the willingness and ability to take risks, is highlighted as a crucial factor in determining the suitability of mutual funds for investors. The study uses both primary and secondary data, with a sample size of 120 respondents chosen through convenient sampling. It aims to analyze the level of awareness about mutual funds among the selected respondents in the study area. The recommendations suggest that the government, both at the central and state levels, should play a role in spreading awareness about saving and investment habits among the public. Creating a safety mechanism is proposed to encourage individuals to deploy their funds continuously in various financial instruments, thus contributing to the overall economy. The conclusion of the study emphasizes the need for a constant effort to promote awareness about savings and investments, targeting both rural and urban investors. It suggests that a healthy atmosphere, supported by government initiatives and safety mechanisms, is essential to encourage individuals to invest in different financial instruments consistently. The results of the study indicate a preference among investors for safer avenues. Additionally, it highlights the influence of family culture in investment decisions. This information underscores the significance of not only promoting awareness but also understanding the psychological and cultural factors that shape investors' choices.In summary, the study underscores the importance of personalized investment decisions based on risk profiles and time horizons. It advocates for ongoing efforts to enhance awareness and create a conducive environment for investment, emphasizing the role of both individuals and government in shaping a robust financial ecosystem.
Ansal et al. (Sun,) studied this question.