A balanced portfolio is one that is aligned to your requirements and special needs. It is not the same as a balanced fund.
Let us take an example, a portfolio well balanced for a 30 year old might be having 75% equity, 20% debt assuming he has high tolerance for risk. However for a 65 year old senior citizen, this is not a well balanced portfolio! You get the gist!
A balanced fund is different because it just invests as per a set norm (e.g.: 70% equity, 30% debt) and is not fine tuned to each individual.Upvote10
