What are the 4 main categories of mutual funds?

Mutual funds have become one of the most favourite investment options for most people as the pooling of money from an individual becomes easy to invest in diversified assets. Very importantly, it's a matter of choosing the right mutual fund category such that the investments made by you will be aligned with your financial goals, risk tolerance level, and investment time horizon. To make it easy, here comes the breaking of the four major categories of mutual funds - Equity Funds, Debt Funds, Money Market Funds, and Hybrid Funds.