Over the past two decades, consumers investors have preferred mutual funds. Mutual funds allow investors to invest in a diversified portfolio managed by specialists at low cost without much effort. The mutual fund industry is always changing, so it currently offers products for a variety of risk appetites and investment goals. One of the most important things for the continuous expansion of the sector is to gain an understanding of how retail investors perceive the various types of mutual funds. The purpose of this study is to evaluate the perceptions and preferences of retail investors regarding several types of mutual funds, such as equity, debt, hybrid, and thematic funds. This study uses primary surveys and chi-square statistical analysis to investigate investor demographics and investment preferences. The primary findings indicate that income and educational qualification have a substantial impact on the selection of mutual funds and the levels of satisfaction experienced by investors. The insights that were obtained are extremely helpful for entities such as mutual fund firms, financial advisors, and legislators who are attempting to adjust their offers to better satisfy the requirements of investors.