There are 5 P’s of mutual fund selection process.

1) PEOPLE 
a) How stable is the fund management team
b)What is the total experience of the team.
c) Does the fund manager inspire confidence.

2) PHILOSOPHY ADOPTED
a) It is a value fund, growth fund or a blend?
b) Have the funds stick to its mandate.
c) Is the chosen philosophy meeting my requirement.

3) PROCESS FOLLOWED
Process has three pillars.
a) Research.
b) Fund manager
c) Risk Management 

Any fund house which is lacking any one among these should be straightaway eliminated.
If you have selected few fund houses after following the above steps and selected few schemes, 80% of your job is done. Hence, I have drawn a line.
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4) PORTFOLIO COMPOSITION
a) Is the portfolio following the mandate as per its investment objective.
b) Is the portfolio turnover too high. 
c) Is the portfolio too much concentrated on a specific sector or a sector.

5) PAST PERFORMANCE.
a) Are the past returns consistent .
b) Have they beaten the benchmark.
c) Has the fund beaten a similar fund in its category.
Hope this helps .

Thank you,
Deepesh R Mehta
Certified financial planner.