The point to make a note of, is, after all, how do you start to evaluate a fund/scheme out of a thousand plus schemes and may be a couple of other evaluation parameters. The one and the most easy way to start with is to ‘make a short list’ based upon the star ratings. Whether one should go for only 5-star, 4 & 5-star or even consider 3-star, is left to individual. You please understand that most of the star ratings are based upon ‘risk’ rating and ‘return’ rating which is essentially what we are looking in an MF investment. After all, what we want is to ‘how I can maximize my return from an MF Scheme with least risk’. Does the Star rating not sum up this ?