The Indian Mutual fund industry has seen a significant growth in past few years. It helps to channelize the savings of millions of people into investments in equity and debt instruments. The Mutual fund business has taken the Indian Capital market to new heights with increase in number of potential investors and several investment options. Mutual funds are one of easiest way to make an investment in equity and debt instruments and provide good returns at the same time. Every investor wants to make an investment in the funds of reputed companies which provides combined benefit of good returns, liquidity, tax benefits and diversification through professional management services. Indian Mutual Fund Industry has a huge potential as there is a tremendous growth in number of Investors, Mutual fund companies and favourable Government policies for the same. Quick investment, good returns as per the investors need, and customization of the portfolio is attracting large number of investors which is expanding the Mutual Fund Business. This study analyses the impact of various demographic factors on attitude of investors towards Mutual fund. Apart from this it also examines how several Economic and Company specific factors affect the choice of fund of the investors and also the investors risk taking ability towards the Mutual fund investment. To this end, 120 respondents of Kolkata city were surveyed with various demographic profiles. The study reveals that the risk taking ability of the investors differs as per their income level and there are certain economic factors that affect the choice of funds from the investor’s point of view. The study also reveals that there is still need for creating Mutual Fund awareness among the public of Kolkata.