Why does the author recommend avoiding multiple mutual funds of the same subcategory? Option: "To reduce the overall expense ratio of the portfolio", "To maximize diversification across asset classes", "To simplify portfolio management and tracking", "To minimize portfolio overlap and redundancy"

Why does the author recommend avoiding multiple mutual funds of the same subcategory?

What is the potential drawback of holding a large number of mutual funds within the same investment category?

What crucial advice does the article offer regarding mutual fund selection?

Why is portfolio diversification important in mutual fund investing?

What is a recommended strategy for mitigating financial risk in mutual fund investments?

What is the primary role of diversification in building a mutual fund portfolio?