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- By Investing Money In This, You Can Also Accomplish Your Financial Goals, Up To 37% Return Given In The Last 1 Year
New Delhi16 minutes ago
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These days if you are planning to invest somewhere to fulfill a specific financial goal, then you can invest in solution oriented mutual funds. These schemes are made according to the fulfillment of a specific goal. These goals can include retirement or children’s education etc. Today we are telling you about Solution Oriented Mutual Fund Scheme so that by investing in it you can fulfill your financial goals.
First of all, know what are Solution Oriented Mutual Fund Schemes?
There are 5 categories under SEBI’s mutual fund classification. One of them is Solution Oriented Mutual Fund. This category has been created to meet the financial goals. There are two types of these funds. These include planning for retirement and children. This category has been created for long term investment. Solution oriented funds are open ended funds and they also get the benefit of tax exemption.
|Solution Oriented Schemes||Description|
|1.||retirement fund||The scheme has a lock-in of at least 5 years or till the age of retirement, whichever is earlier.|
|2.||Children’s Fund||The scheme has a lock-in for at least 5 years or till the child attains the age of maturity.|
You can choose the fund according to you
These schemes allow investors to choose a customized portfolio for a specific target. The portfolio of these funds can be equity, debt or hybrid oriented. These can be selected according to the financial goals and risk appetite.
It has a lock in period of 5 years
Solution oriented mutual fund schemes are made with a specific goal or solution in mind. These could be goals such as a retirement scheme or a child’s education. You need to invest in these schemes for at least 5 years. You can get good returns by investing in it.
Can take advantage of tax exemption
Solution Oriented Funds get tax exemption under section 80C. You can take advantage of this exemption only if you have a lock-in period of at least 5 years. If the equity in the portfolio is more than 65%, then long term capital gain has to be paid.
These funds have given good returns over the years
|Fund Name||Return of last 1 year (%)||Average Annual Return over the last 3 years (in %)||Average Annual Return over the last 5 years (in %)|
Tata Retirement Savings Fund (Moderate)
|ICICI Provident Child Care Plan||32.7||10.2||9.8|
Tata Retirement Savings Fund (Progressive)
|SBI Magnum Children’s Benefit Plan||25.6||10.4||11.4|
Tata Retirement Savings Fund (Conservative)