How children-oriented mutual fund schemes performed in last 1-year & top 5 winners
ICICI Pru Child Care Fund-Gift Plan topping the charts. It is followed by SBI Magnum Children's Benefit Fund-Investment Plan-Reg(G) and Aditya Birla SL Bal Bhavishya Yojna-Reg(G). ETMarkets presents a report card of these funds. Take a look!
There are currently 11 children's funds in the solution-oriented mutual fund category. While ICICI Pru Child Care Fund-Gift Plan has delivered returns of 44% returns, SBI Magnum Children's Benefit Fund-Investment Plan and Aditya Birla SL Bal Bhavishya Yojna have given returns of 39.35 and 35.25%, respectively.
HDFC Children's Gift Fund and LIC MF Children's Gift Fund(G have yielded 28.69% and 28.55% gains in the last 12 months. The bottom two positions have been taken by Axis Children's Gift Fund-Compulsory Lock in-Reg(G) and SBI Magnum Children's Benefit Fund-Savings Plan with returns of 16.34% and 18.55%, respectively.
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Children's mutual funds are solution-oriented mutual funds that serve a specific financial goal of funding children's education.
These schemes are benchmarked against one of these indices viz. NIFTY 500 — TRI, CRISIL Hybrid 85+15 — Conservative Index, CRISIL Hybrid 35+65 — Aggressive Index, S&P BSE SENSEX — TRI, CRISIL Short Term Debt Hybrid 60+40 Index.
At 28.31%, the average returns of these benchmark indices trail the average returns of the 11 children's fund schemes, shows data.
While these funds should be gauged based on long-term returns, the
