New Delhi, June 23 -- Wealth management, PMS (portfolio management services), quant and fintech firms have applied for mutual fund licences. While it is advisable to go with existing schemes that have a long track record, new fund houses may offer innovative products or investment processes.

Here are a few things to keep in mind before deciding to invest with a new fund house.

The first thing to check is whether the firm has any track record of managing investments. For instance, if the firm has managed PMS or alternative investment funds (AIFs), it can offer some insight into its investment capability.

"However, investors should treat such a track-record with caution as managing PMS and AIF portfolios differs from managing mutual fund...