A Mutual Fund (investment fund) is a type of proficiently manage collective investment vehicle that pools money from a lot of investors to buy securities. As the Mutual Fund (investment fund) sector has developed, there's been a growing acceptance by most policy holders that the assured return era is a thing of the past. The Mutual Fund (investment fund) companies are focusing on the marketplace Linked Plans. This study would help in explaining the investor’s perception of risk & return & their preference for different schemes of Mutual Fund (investment fund).