With the Indian economy entering a new growth phase, fund research platforms have identified five ‘high-risk’ mutual-fund schemes that combine resilient returns with robust alpha potential. These schemes typically allocate toward mid-caps, special-situation stocks and thematic plays. Analysts caution that volatility may intensify and investors should align their risk appetite accordingly. The move comes as the industry sees record-SIP flows and evolving investor behaviour seeking differentiated returns beyond large-cap benchmarks.