Best balanced advantage funds or dynamic asset allocation funds to invest in 2021 Synopsis Balanced Advantage Funds or Dynamic Asset Allocation funds are a newly formed category of hybrid mutual funds, which are free to manage their exposure to equity and debt according to market conditions. Balanced Advantage Funds or Dynamic Asset Allocation funds are a newly formed category of hybrid mutual funds, which are free to manage their exposure to equity and debt according to market conditions. This category of funds has offered 16.74% returns in the last one year. Many fund managers and advisors are recommending these schemes to new equity mutual fund investors. We have handpicked the best schemes from this category for you to invest in