Fidelity has hundreds of Mutual Fund Schemes available for the investor public. They have funds in all categories like equity diversified, ELSS, debt, MIPs etc. You can find a full list in their...
Either option is actually fine for a retirement account. Both options will offer you options for creating a retirement account to help you save funds for retirement.
Funds of Funds.
A fund of funds is an investment fund that only invests in hedge funds. It doesn't trade assets itself.
These are registered with the SEC in the US -- unlike the original hedge...