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Which one is better - aggressive hybrid or dynamic asset allocation funds?

Dhirendra Kumar makes out a case for having a defined allocation

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How do you compare an aggressive hybrid fund with a dynamic asset allocation fund? Which one is better?
- Arangya

I like aggressive hybrid funds simply because I like discipline. I believe that it is hard to guess the market. However, dynamic asset allocation funds try and time the market by investing more in equity when they think it is appropriate to do so. In some funds, fund managers decide suitable asset allocations, while others follow a model-based approach to achieve the same.

However, I am a firm believer in defined allocation, which aggressive hybrids provide. These funds invest between 65 per cent and 80 per cent in equity and the remaining in fixed income. They do their rebalancing intensely and that does the job. Also, this category is suitable for conservative investors. On the other hand, dynamic asset allocation, as a category, has not been able to build a great case for itself.