Option - Liquidity is correct.
Liquidity is an important advantage under which an investor can
convert his asset in to cash without any decrease of its value.It
is the ability of an asset to be converted in to cash while
purchase or sale transactions without any influence in price.
Regarding the investment of mutual funds it is the ability to sell
its in open market price due to a large demand.There is a time span
of invesing in mutual funds and when benifits from it becomes
due.During this time market may change because of changing economic
activities.In such a case liquidity offered by mutual fund give an
opportunity of review our fund and rebalance our Investment