Mutual funds: A selective saving grace

Two decades after the Indian mutual fund industry began, the obvious question to ask is... well, that's the problem, actually. What is the obvious question to ask? In general terms, I guess one should ask whether (or to what extent) mutual funds have achieved their goal. However, there can be no consensus on what that goal was. Along the way, Indian mutual funds have collected a variety of goals, some stated explicitly and others implicit.

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