Your mutual funds need just these resolutions

Earlier this week, I came across an insightful column by Devina Mehra about New Year resolutions for equity investors. It got me thinking about the mutual fund investors among us who often face similar challenges but need a somewhat different approach. While there are dozens of things a mutual fund investor should do, I'm going to focus on just two or three critical resolutions that can make a real difference to your portfolio in the coming year. The first, and perhaps most important resolution, is simply to be aware of what you own. It sounds almost too basic, but you'd be surprised how many investors I meet who have accumulated a collection of mutual fund investments over the years without really knowing what's in their portfolio. Take stock of your existing investments - not with any immediate intention to make changes, but just to understand what you have. Which funds are they? What categories do they belong to? How have they performed relative to their benchmarks? How much of your portfolio is in equity versus debt funds? This awareness itself is a powerful tool that will serve as the foundation for all your future investment decisions. Suggested read: Understand and control The second resolution flows naturally from the first - establish a proper monitoring and rebalancing discipline. Notice that I specifically