It is always considered that saving is good for future and for the safety of our future, investment is always considered as a better option. For this reason mutual funds have many benefits that make them one of the most efficient, cost–effective, and easy investments available. They are also ideal vehicles for individual investors who don't have the time, willingness or ability to manage their own portfolio of bonds or stocks. Mutual funds have come as a much needed help to these investors. In the current complex financial scenario, mutual funds are an ideal investment vehicle to the investors. In this book the author has explored different investment styles and their performance. The sample consists of 340 mutual funds belonging to four fund Categories and with in these category there are nineteen investment styles. The performance of selected funds is evaluated using average rate of return of fund, standard deviation, Risk/Return, Sharpe Ratio, Treynor ratio and Jensen ratio. Benchmark comparison is also made as it indicates to what extent the fund managers were able to produce better performance of managed portfolio compared to the market or index portfolios.