Where should I invest the redemption proceed of AXIS Hybrid Fund Series 8

Axis Hybrid Fund - Series 8 - Regular Growth Plan is a close ended hybrid fund. You are right, the return of the fund has not been good and it delivered only 7.64% annualized returns (as on today) since launch. Also, the fund has not been able to beat benchmark returns in the 3 year period.

After you receive the maturity proceeds on July 2017, you can invest in an open ended fund suiting to your risk appetite. However, if your investment horizon is less than 5 years, and even your risk appetite is high, you should not consider investing in equity funds. You should invest in debt funds or hybrid debt funds (MIPs). Only if your investment horizon is 5 years or above and risk taking ability high that you should consider investing in equity funds.

You can select an appropriate category of funds from here https://www.advisorkhoj.com/mutual-funds-research/top-consistent-mutual-fund-performers

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