I am considering investing in 'ICICI Prudential Elite Life II- Maximiser Fund V' .
I understand that this fund was launched in August 2011, and since inception the fund has given a consistent return of 20.07% CAGR. Can you please advise if this is the right choice of fund to invest in for the long term for an NRI? Please note my objective is long term capital appreciation and I have no need for insurance at this stage (although the fund is offering some). Also if this not the right choice, can you please suggest an alternate fund for investment.
Deepak A. Hegde
Firstly, do note that the plan you are considering is not a mutual fund and is a Unit Linked Insurance Plan. Do not get swayed by looking at returns of the fund. Unlike a mutual fund, returns from ULIPs also depend on the expenses they charge their investors. Each policy has its own cost structure which may be in the form of different charges.
If you are sure that you do not need insurance at present, then we suggest you simply start investing into mutual funds instead. You can either choose large & mid cap funds such as ICICI Prudential Dynamic or Quantum Long Term Equity or multi cap funds such as BNP Paribas Dividend Yield or Tata Dividend Yield.
This article was originally published on October 01, 2014.
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