How to Good Select a Mutual fund in India?

Can anyone advise me to select the best mutual fund in India. Is it the right time to invest in mutual funds?
I am getting confused by many agents approaching me offering good returns from all different types of funds.
Any idea or grading to select the best?

Always look for the mutual funds performance for atleast 2~3 years. This will let you know whether it is consistently performing well and giving you good returns.

Most of SBI's mutual funds are doing well. Investing in equity diversified mutual funds are bit risky, but the returns are also too good, when ever it performs well.

Other types of funds are almost like investing in fixed deposit.

Moneycontrol.com of CNBC india is maintaining a good and updated listing of mutual funds you can find it at
http://www.moneycontrol.com/mutualfundin...

If you want to learn more of mutual funds and the way to find the best can be found at the link below
http://www.keralabanking.com/?cat=8

You have to sort of avoid the salesmen. They are interested in their commissions not your wellfare. It is indeed a good idea to put a some money into a mutual funds, actually more than one.

I can not tell you what the best one is. I can point you to a site that has evaluations of them and I will.

But you do need to be aware of this. Currently the Indian stock market is very richly valued. That means stocks are high priced. So you so not want to go overboard and dumpa a lot of money into it. Just a little. Then in 6 months a little more. 6 months later a little more. That way if stocks do continue to rise in price you will be making money. But if stocks in 6 months are selling at lower prices you will have some money to take advantage of the lower prices. Understand?

http://www.valueresearchonline.com/funds...

You can invest in the following mutual funds and schemes by them;
Reliance - Growth, Vision funds
Templeton- Bluechip, Prima,Flexicap
Fidelity - Equity, special situations
ICICI - Tax saver, growth, dynamic
HDFC - Tax saver,Growth,Long term advantage
A spread over these top performing funds (preferably with SIP) and an investment horizon of 3 - 5 years can give a goo return with low risk .

Mindx is a good mutual fund in India that you can buy from any brokerage firm. I prefer Scottrade or Fidelity because you can buy them yourself with very minimal costs. You would need to set up an account with them. I find Fidelity to be more helpful and they have more funds to buy,however Scottrade is a good place too and you can buy stocks and funds very cheaply. I may be wrong but I think ST doesn't charge a Fee for mutual funds. Anyway MINDX is a strong mutual fund in India that has done very well. That's the problem though. If you have a long term horizon -buy it now. India will probably pass China for growth and oppurtunities in the next several years. India has grown very fast last couple of years so I think you could see a correction (it has happened somewhat already). Anyway it is a solid fund to buy if you want to buy an Indian fund. Go to Morningstar and see how they rate it.