Why should one choose to invest in a mutual fund?

For retail investor who does not have the time and expertise to analyze and invest in stocks and bonds, mutual funds offer a viable investment alternative. This is because:
(1) Mutual Funds provide the benefit of cheap access to expensive stocks
(2) Mutual funds diversify the risk of the investor by investing in a basket of assets
(3) A team of professional fund managers manages them with in-depth research inputs from investment analysts.
(4) Being institutions with good bargaining power in markets, mutual funds have access to crucial corporate information which individual investors cannot access.