Seedhe content par jaiye
MutualFundAdvisor.in logo markMutualFundAdvisor.in
Abhi ki bhasha: Hinglish (Hindi in Roman script)
Understanding Risk · Shuruaati · 7 min read

Mutual Fund Mein Risk Kya Hai?

Chhota jawab

Mutual fund mein risk ek cheez nahi hai. Yeh khaas exposures ka ek samooh hai: equity funds mein market risk, debt funds mein interest-rate aur credit risk, saath hi scheme jo rakhti hai uske hisaab se liquidity, concentration aur currency risk. Jo practical fark yaad rakhna hai wo hai volatility — keemat ka upar-neeche hona, jo ubar jaati hai — aur permanent loss, jo nahi ubarta. Volatility tabhi permanent loss banti hai jab aapko bechna pade, ya aap sabse nichle level par bechna choonein.

Amit Chadha · Mutual Fund Distributor · AMFI ARN: 349461 · Aakhri review

Har mutual fund document mein market risk wala sentence hota hai, aur lagbhag koi uske aage nahi padhta. Yeh afsos ki baat hai, kyunki kisi fund mein "risk" pehchane ja sakne wale hisson se bana hota hai, aur yeh jaanna ki aapki scheme par kaun-se hisse lagu hote hain, ek general bechaini se kahin zyada kaam ka hai.

Yeh har giravat ke dauran logon ki khud se hone wali ek bahas ko bhi suljhata hai: kya yeh loss hai, ya yeh fluctuation hai?

Volatility Loss Jaisi Nahi Hai

Volatility yeh hai ki koi value kitni ghoomti hai. Loss yeh hai ki aapne jitna lagaya usse kam ke saath khatam kiya. Koi fund das saal tak bahut volatile reh sakta hai aur phir bhi kaafi aage nikal sakta hai; yeh halka volatile bhi reh sakta hai aur inflation se peeche reh sakta hai.

NAV mein giravat tab tak sirf kaagazi halchal hai jab tak aap bechte nahi. Yeh koi tasalli nahi hai — yeh mechanism ka description hai. Giravat ko asli loss mein kya badalta hai, wo hai ek redemption, chahe paise ki zaroorat ke kaaran majboori mein ho ya bechaini ke kaaran khud chuna gaya ho. Yahi wajah hai ki goal ki time horizon itni maayne rakhti hai: jo paisa aapko atharah mahine mein chahiye, uske paas bure daur ka intezaar karne ki gunjaish nahi hoti.

Market Risk

Market risk yeh possibility hai ki kisi scheme ki rakhi securities ki prices saath mein girein, economic conditions, sentiment, policy, global events ya poore market ko hilane wali kisi bhi cheez ke kaaran.

Companies mein diversification market risk ko nahi hataata. Pachaas stocks rakhne wala fund bhi tab giregа jab market girega — diversification kisi ek company ke naakaam hone se hone wale nuksan ko kam karta hai, market ki giravat se nahi.

Interest-Rate Risk

Debt instruments aur interest rates ulti direction mein chalte hain: jab rates badhte hain, maujooda bonds ki market value girti hai, aur iska ulta bhi sach hai. Lambi-maturity wale instruments rakhne wala debt fund chhoti-maturity wale fund se iske prati zyada sensitive hota hai.

Yeh un investors ko chaunkata hai jinhone maan liya tha ki debt fund gir nahi sakta. Yeh gir sakta hai, aur jab rates tezi se badalte hain to long-duration fund kaafi gir sakta hai.

Credit Risk

Credit risk yeh possibility hai ki koi issuer vaade ke mutabik interest ya principal na chukaye. Kam rating wala paper rakhne wali debt scheme aam taur par zyada yield isliye deti hai kyunki wo yeh risk zyada utha rahi hai.

Credit risk tab tak invisible rehta hai jab tak wo na ho: koi portfolio saalon tak theek dikh sakta hai aur phir jab koi issuer default kare ya downgrade ho, to achanak, na sudharne wali chot kha sakta hai. Market ki volatility ke ulat, is tarah ka nuksan apne aap palatta nahi hai.

Liquidity, Concentration Aur Currency Risk

Liquidity risk yeh hai ki jab kisi holding ko bechna zaroori ho, to use reasonable price par bechna kitna mushkil hai — yeh khaaskar chhoti companies ya kam trade hone wala debt rakhne wali schemes ki chinta hai.

Concentration risk kuch hi securities, sectors ya themes mein bhaari exposure hai: sectoral ya thematic fund banawat se hi concentrated hota hai, jo iska maqsad bhi hai aur iska mukhya risk bhi. Currency risk tab lagu hota hai jab scheme videshi assets rakhti hai, ya jab kisi NRI investor ki apni currency rupee se alag ho.

Sequence Risk: Jab Bure Saal Aate Hain

Do investors bees saal mein ek jaisa average return kama sakte hain aur phir bhi bilkul alag jagah pahunch sakte hain, kyunki bure saal kab aaye. Shuruaat mein, jab balance chhota ho, ek kharab daur utne hi daur ke muqable rupees mein bahut kam padta hai jo paise ki zaroorat se theek pehle aaye.

Yahi wajah hai ki goal nazdeek aane par aam taur par risk ghatana zaroori hota hai, aur yahi wajah hai ki income nikaalne wala retiree ek accumulator se alag samasya ka saamna karta hai — giravat ke dauran nikaasi un nuksano ko pakka kar deti hai jo anyatha ubar jaate.

Risk Tolerance Aur Risk Capacity

Risk tolerance yeh hai ki aap apne investment ko girte dekhkar kitna comfortable feel karte hain. Risk capacity yeh hai ki aapki financial situation bina kisi plan ko pataree se utaare kitni giravat asal mein seh sakti hai.

Ye aksar bemel hote hain, dono directions mein. Secure income aur bees saal ki time horizon wale kisi vyakti ki capacity zyada ho sakti hai lekin tolerance kam; volatility se comfortable kisi vyakti ka goal do saal door ho sakta hai jo use lagbhag koi capacity nahi deta. Jo dono mein kam ho, wahi nirnayak hona chahiye.

Wo Risk Jise Aap Asal Mein Control Kar Sakte Hain

Aap market, rates ya defaults ko control nahi kar sakte. Aap apni time horizon, asset types ke beech apna allocation, aapka portfolio kitna concentrated hai, kya aapke paas ek emergency fund hai jo aapko bure waqt par bechne se roke, aur kya aap invested rehte hain — yeh control kar sakte hain.

Zyadatar investors ke liye, us doosri list mein liye gaye faisle unke outcome mein isse zyada maayne rakhte hain ki unhone kisi category ke bheetar kaun-si scheme chuni.

Mukhya baatein

  • Risk kai khaas exposures hain, ek general quality nahi.
  • Volatility ubar jaati hai; permanent loss nahi ubarta — ek redemption hi ek ko doosre mein badalta hai.
  • Debt funds interest-rate aur credit risk rakhte hain, aur value mein gir sakte hain.
  • Diversification company-vishesh risk kam karta hai, market risk nahi.
  • Aapke goal ki date ke kareeb aayi giravat shuruaati giravat se rupees mein kahin zyada keemat chukaati hai.
  • Risk tolerance hi nahi, risk capacity bhi aapke allocation ko tay karni chahiye.

Apne numbers par aazmaiye

Aksar pooche jaane wale sawaal

Sources aur editorial review

Aage kya padhein

Mutual Fund Riskometer, Samjhaya GayaKisi scheme ka risk label kya batata hai, yeh kaise tay hota hai, ise kya badal sakta hai, aur yeh aapke liye kaun-se sawaalon ka jawab nahi de sakta.Equity, Debt Aur Hybrid Mutual Funds: Fark Kya Hai?Teen bade fund families mein se har ek kya rakhta hai, har ek ke saath aane wale risk, hybrid funds inhein kaise milate hain, aur tax ke liye equity limit kyun maayne rakhti hai.Beginners Ke Liye Asset Allocation Aur DiversificationPaise ko asset classes mein baantna portfolio ke risk ko kaise tay karta hai, zyada funds zyada diversification kyun nahi hai, aur rebalancing asal mein kya kharch karti hai.

Sirf educational content. Investment advice nahi.

Risk Factors – Investments in Mutual Funds are subject to Market Risks. Read all scheme-related documents carefully before investing. Mutual Fund Schemes do not assure or guarantee any returns. Past performance of any Mutual Fund Scheme may or may not be sustained in the future. There is no guarantee that the investment objective of any suggested scheme will be achieved. All existing and prospective investors are advised to check and evaluate the exit loads and other cost structure (TER) applicable at the time of making an investment before finalizing any investment decision for Mutual Fund Schemes. We deal in Regular Plans only for Mutual Fund Schemes and earn a trailing commission on client investments. Disclosure of commission earnings is made to clients at the time of investment. The option of a Direct Plan for every Mutual Fund Scheme is available to investors and offers the advantage of a lower expense ratio. We are not entitled to earn any commission on Direct Plans; hence, we do not deal in Direct Plans.