They say investing for a long term is always more fruitful in equity funds. Asset allocation, financial goals, time horizon and risk appetite are the key elements to be focussed upon while investing in equity funds. Sectoral and Thematic funds remain the riskiest of all Mutual Funds. While thematic funds are focussed across 2-3 sectors, Sectoral funds are focussed on 1 sector and hence are more risky.