Stock mutual funds are one of the great ways to invest in a disciplined way and get good returns. They offer diversification, professional management and high profit potential. We asked Google’s artificially intelligent chatbot Bard this question and it generated a few recommendations.Click here if you are interested in investing in mutual funds Best Mutual Funds to Invest in 2023, by Google AI Bard.
Also read: Named Best Mutual Fund of 2023 as ChatGPT
What is Google Bard?
I asked “Who are you?” in the Google Bard chatbot itself.
- I’m Bard Large-scale language models, also known as conversational AI or chatbots, trained to be informative and inclusive. I have been trained on vast amounts of text data and am able to communicate and generate human-like text in response to various prompts and questions. For example, you can provide a fact-based summary of a topic or create a story.
- I’m still in development, but I’ve learned to do different types of tasks such as:
- We will do our best to follow your instructions and carefully complete your request.
- I will use my knowledge to answer your question in a comprehensive and informative way, even if it is open-ended, challenging, or strange.
Best mutual funds to invest in 2023 according to Google AI Bard
I posted the question “List the best mutual funds to invest in India in 2023” on bard.google.com and it generated the following list.
#1 – Axis Blue Chip Fund
Axis Blue Chip Fund is a large cap fund that invests in the top 100 companies listed on the Stock Exchange of India. The fund has a long track record and consistently outperforms benchmark indices.
#2 – Mirai Asset Large Cap Fund
The Mirai Asset Large Cap Fund is another successful large cap fund. The fund invests in a diversified portfolio of large companies with low expense ratios.
#3 – Parag Palik Long Equity Fund
Parag Parikh Long Term Equity Fund was renamed to Parag Parikh Flexicap Fund a long time ago, but Google Bard still shows the old name. It invests in companies with high growth potential across a range of market caps. The fund has a low expense ratio and provides excellent long-term performance.
#4 – SBI Blue Chip Fund
SBI Bluechip Fund is a large cap fund managed by one of India’s largest mutual funds. The fund has a low expense ratio and a long history of strong performance.
#5 – UTI Nifty Index Fund
The UTI Nifty Index Fund is an index mutual fund tracking the 50 companies included in the Nifty50 index. The index is a basket of the top 50 companies listed on the National Stock Exchange of India. Index funds are a good option for investors who want to track the market without choosing individual stocks.
These are just a few of the many excellent mutual funds available in India. When choosing a mutual fund, you should consider your investment goals, risk appetite and time horizon. You should also do your own research and compare different funds before making a decision.
What factors should I consider before choosing a fund?
Don’t just blindly use the list of funds recommended by Google Bard or ChatGPT. Here are some of the factors to consider before choosing a mutual fund.
Investment target: What do you want to achieve with your investment? Are you looking to generate income, capital growth, or both?
Risk Tolerance: What is your risk-taking capacity? Mutual funds can be risky, so it is important to choose the right fund according to your risk tolerance.
Period covered: How long do you plan to invest? If you invest for the long term, you can afford to take more risk. However, if you need access to funds in the near future, you should choose a less risky fund.
Fund manager: Who are the fund managers? Do they have a good track record?
Fund size: How big is the fund? Larger funds tend to be more liquid, but they can also be more expensive.
Funds expenditure ratio: What is the fund’s expense ratio? This is a measure of how much fees the fund charges.
Also read: What is the best mutual fund to generate 100 million rupees with 50,000 SIP?
Fund Risk: How risky is the fund? You should consider your own risk tolerance before investing in any fund.
Once you’ve considered all these factors, you can start narrowing down your list of funds. We recommend investing in a variety of funds to reduce your risk. You can also consult a financial advisor for help in choosing the right mutual fund for your needs.
Conclusion: Mutual funds are a great way to grow your wealth over the long term. Investing in different funds can reduce your risk and increase your chances of success. Mutual funds recommended by Google Bard can also be considered, but it is important to consider your investment goals, risk tolerance and time horizon when choosing mutual funds. You should also do your research and compare different funds before making a decision.
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