New Delhi, Oct. 1 -- Bonds could be the missing piece in a retail investor's portfolio. Even as equities gain prominence, bonds have yet to secure a permanent place in most portfolios. Yet, with safe instruments like fixed deposits barely keeping pace with inflation and equities prone to volatility, bonds offer a middle ground.

"This is the missing piece from a retail investor's perspective. This asset class (bonds) is gaining prominence and may find a place in everybody's portfolio in the next 5 years," said Vineet Agrawal, co-founder of Jiraaf, a Securities and Exchange Board of India (Sebi)-regulated online bond platform, at the Mint Money Festival 2025 held in Bengaluru.

At the lowest end, instruments like G-secs and fixed deposits ...