5 Best Mutual Funds to Invest in 2023 (as per Google AI Bard)

Equity Mutual funds are one of the great ways to invest in disciplined manner and provide superior returns. They offer diversification, professional management, and the potential for high returns. I have asked this question to Google’s Artificial Intelligence Chatbot Bard and it generated few recommendations. If you’re looking to invest in mutual funds, here are a Best Mutual Funds to invest in 2023 as per Google AI Bard.

Also Read: Best Mutual Funds in 2023 as ChatGPT

What is Google Bard all about?

I asked “who are you” in the Google Bard chatbot itself.

  • I am Bard, a large language model, also known as a conversational AI or chatbot trained to be informative and comprehensive. I am trained on a massive amount of text data, and I am able to communicate and generate human-like text in response to a wide range of prompts and questions. For example, I can provide summaries of factual topics or create stories.
  • I am still under development, but I have learned to perform many kinds of tasks, including
    • I will try my best to follow your instructions and complete your requests thoughtfully.
    • I will use my knowledge to answer your questions in a comprehensive and informative way, even if they are open ended, challenging, or strange.

Top 5 Best Mutual Funds to invest in India in 2023 as per Google AI Bard Chatbot

Best Mutual Funds to Invest in 2023 as per Google AI Bard

I have put the question in bard.google.com saying “List Best Mutual Funds to invest in 2023 in India” and it generated following list.

#1 – Axis Bluechip Fund

Axis Bluechip Fund is a large-cap fund that invests in the top 100 companies listed on the Indian stock exchanges. The fund has a long history of strong performance and has consistently outperformed its benchmark index.

#2 – Mirae Asset Large Cap Fund

Mirae Asset Large Cap Fund is another large-cap fund that has a proven track record of success. The fund invests in a diversified portfolio of large-cap companies and has a low expense ratio.

#3 – Parag Parikh Long-Term Equity Fund

Parag Parikh Long-Term Equity Fund is renamed to Parag Parikh Flexicap Fund long back, however Google Bard still shows old name. This invests in companies with strong growth potential and across various market cap. The fund has a low expense ratio and a good performance in long-term.

#4 – SBI Bluechip Fund

SBI Bluechip Fund is a large-cap fund that is managed by one of India’s largest mutual fund companies. The fund has a low expense ratio and a long history of strong performance.

#5 – UTI Nifty Index Fund

UTI Nifty Index Fund is an index mutual fund which tracks 50 companies that are part of Nifty50 index. The index is a basket of the 50 largest companies listed on the National Stock Exchange of India. Index funds are a good option for investors who want to track the market without having to pick individual stocks.

These are just a few of the many great mutual funds available in India. While choosing a mutual fund, one should consider their investment goals, risk appetite, and time horizon. One should also do their own research and compare different funds before making a decision.

What factors should be considered before selecting a fund?

Don’t just go blindly with the list of funds recommended by Google Bard or ChatGPT. Here are some of the factors to consider before choosing a mutual fund:

Investment goals: What do you want to achieve with your investment? Are you looking to generate income, capital appreciation, or both?

Risk tolerance: What is your risk taking capacity? Mutual funds can be risky, so it is important to choose a fund that is appropriate for your risk tolerance.

Time horizon: How long do you plan to invest for? If you are investing for the long term, you can afford to take on more risk. However, if you need to access your money in the near future, you should choose a fund that is less risky.

Fund manager: Who is the fund manager? Do they have a good track record?

Fund size: How big is the fund? Larger funds tend to be more liquid, but they may also be more expensive.

Fund expense ratio: What is the fund’s expense ratio? This is a measure of how much the fund charges in fees.

Also Read: Best Mutual Funds to create Rs 100 Crores with 50K SIP?

Fund risk: How risky is the fund? You should consider your own risk tolerance before investing in any fund.

Once you have considered all these factors, you can start to narrow down the list of funds. It is a good idea to invest in a variety of funds to reduce your risk. You can also talk to a financial advisor to get help choosing the right mutual funds for your needs.

Conclusion: Mutual funds can be a great way to grow your wealth over time.  By investing in a variety of funds, you can reduce your risk and increase your chances of success. Though Google Bard recommended mutual funds can be considered, when choosing a mutual fund, it is important to consider your investment goals, risk tolerance, and time horizon. You should also do your research and compare different funds before making a decision.

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6 comments

  1. Suresh hi,
    What is your suggest about HDFC Defence fund regular IDCW option.
    I want to for long term and in bulk good amount.

  2. Suresh ji pl cover ETF funds also. Can you please list out 5 best diversified,low cost must own funds for retail investors benefit.

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