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<h1>Concentration risk: thematic consumption funds may be volatile; diversify and match allocations to investor risk appetite.</h1> The piece advises that India's expanding middle class constitutes a consumption megatrend investable through thematic or sectoral funds focused on consumer facing industries, while warning of concentration risk, cyclical demand exposure, and fund manager variation. Investors are urged to align such allocations with risk appetite and investment horizon, use diversified core holdings alongside thematic positions, and treat planning tools as indicative. It concludes with a market risk disclosure that mutual fund investments are subject to market risks and scheme documents should be read carefully.