Conservative hybrid mutual funds are similar to erstwhile monthly income plans or MIPs. MIPs were extremely popular at one point. They used to invest a small part of their portfolio in stocks. But their USP, as the name suggests, was regular income in the form of dividends. However, regular dividends stopped when the market got into a bad phase. That was the end of MIPs. The lesson: do not bank on hybrid funds to secure a regular income.
