Instead of buying an untested new fund, it is best to invest in an existing scheme

Though the number of new fund offers (NFOs) has come down in recent years, new funds are still being launched with a lot of fanfare. They are also peddled aggressively by distributors. Investors would be better off picking from within the existing schemes that have built a sufficiently long track record of performance.

A new fund may appear attractive and the fund house may make a compelling argument in its favour. But the investor would be flying blind in the absence of a track record. Also, keep in mind that a fund with an NAV of `10 is not less expensive than an existing fund with an NAV of `500 NAV.

 It may fetch you more units for the same money invested, but it has no bearing on the fund's performance.

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