Srinagar, June 17 -- India's mutual fund industry has entered a remarkable phase of growth. Assets under management have climbed from Rs.13.82 lakh crore in May 2016 to about Rs.81.58 lakh crore in May 2026, according to data from the Association of Mutual Funds in India (AMFI). The industry now serves roughly 27.66 crore folios, including more than 21 crore equity, hybrid and solution-oriented accounts largely driven by retail investors.

Those numbers tell a story of rising financial participation. They also raise a more important question for new investors, especially in Kashmir: what actually determines long-term investment success?

Many people assume the answer lies in finding the lowest-cost mutual fund. Cost certainly plays a role...