A mutual fund is a collection of funds that is professionally managed to meet investors' common financial goals. It is recommended to evaluate and examine your own investment goals before to investing so that you can choose a suitable strategy. It can be difficult to choose only a few investment strategies that will best serve your financial objectives because there are thousands of schemes on the market that promise high returns.

As per definition by Google, Mutual Fund is an investment programme funded by shareholders that trades in diversified holdings and is professionally managed.

As per Kotak Securities Mutual Fund is an investment vehicle that pools money from investors with a common investment objective. It then invests the money in various asset classes like equities and bonds based on the scheme's objectives. An asset management company (AMC) makes these investments on behalf of the investors.