As per the SEBI circular, open-end solution-oriented mutual fund schemes have been categorized under the following subheads:
Open Ended Solution Oriented Schemes
Retirement Fund: An open-ended retirement solution-oriented scheme having a lock-in of 5 years or till retirement age (whichever is earlier). Scheme having a lock-in for at least 5 years or till retirement age whichever is earlier.
Children’s Fund: An open-ended fund for investment for children having a lock-in for at least 5 years or till the child attains the age of majority (whichever is earlier). Scheme having a lock-in for at least 5 years or till the child attains the age of majority whichever is earlier.
