Bond and equity funds is perfect combination?

Over the years, currency depreciation and inflation are the most important factors in maintaining your hard-earn savings value. However, putting all the savings in FD would not a best idea. I am looking at the combination of bond fund and equity fund in my investment portfolio.

Let look at the red line which indicates Public Bond, the returns is steady across 5 years. I might consider to put my money in bond and some in equity fund (ratio to be decided). While market goes down, I might consider to reinvest in equity fund to bring down my cost per unit, else, I have no extra money, I feel peace of mind since bond still appreciate over the recession. However, invest in funds may involve risks, it is depends investor's risk profile.