Invest in the best mutual funds recommended by Scripbox that are scientifically and algorithmically selected that best suit your needs. Let’s take a look at the top mutual funds to invest this year. Be it long-term, short-term, tax saving or your emergency needs. We have you covered.
Scripbox algorithm recommends 2-4 funds for investment for an investment asset class such as large cap, diversified, liquid etc. When you invest for an objective, the algorithm suggests the appropriate asset class and funds.
ICICI Prudential Asset Management Company Limited manages assets worth 393,821 crores and was set up on 22 June 1993. It’s current offering of mutual fund schemes includes 104 equity,526 debt and 64 hybrid funds.See top ICICI Prudential Asset Management Company Limited funds
ICICI Mutual Fund, incorporated in 1998. It is a joint venture between ICICI Bank and Prudential Plc. Prudential Plc is a UK based financial services company.
Low Duration
Recommended
Top Ranked
₹ 26,705 Cr
Fund Size
8%
3Y returns
Large Cap
Recommended
Top Ranked
₹ 25,513 Cr
Fund Size
11.8%
3Y returns
Large Cap
Top Ranked
₹ 25,513 Cr
Fund Size
0.2%
3Y returns
Low Duration
Top Ranked
₹ 26,705 Cr
Fund Size
6.7%
3Y returns
Corporate Bond
Top Ranked
₹ 21,155 Cr
Fund Size
7.7%
3Y returns
Banking And Psu
Top Ranked
₹ 15,419 Cr
Fund Size
8.1%
3Y returns
Index Funds
Top Ranked
₹ 919 Cr
Fund Size
6.7%
3Y returns
All NRIs can invest in ICICI mutual funds. However, With effect 08 Dec 2008 “US Persons and Persons of Canada” are not allowed to start any new investment, purchase, or switch in any scheme of ICICI Prudential Mutual Fund. However, they can hold their current investments with the maturity date.
Generally, an NRI is allowed to invest in mutual funds like Indian residents. However, for the USA and Canadian residents, there are few restrictions. There are only a few fund houses that accept investments from NRIs based in the US and Canada
Taxation for NRIs investing in Indian Mutual Funds is the same as taxation of resident Indians. The only difference is that for NRIs, there is a TDS of 15% for short term (< 1 year) and 10% for long term (> 1 year) in the case of Equities and a TDS of 30% for short term (< 3 years) and 20% post indexation benefit for long term (> 3 years) in case of Debt/Gold funds at the time of redemptions.
NRI can invest in mutual funds provided that they have an NRO or NRE account with an Indian bank since investment is allowed only in the local currency. Once the bank account is activated the NRI can invest in the direct mutual fund through any of the available channels like mobile apps or online.
Any mutual fund held by an investor remains unchanged after the change in the residential status of the investor. Once an investor becomes an NRI for India, he/ she must ensure to:
Lastly, many AMCs do not allow an NRI to purchase/ switch mutual funds. Hence it is important to update the KYC compliance.
Yes, an NRI can invest in SIP under the condition of having an NRE or NRO account with an Indian bank as systematic Investment plans do not accept any currency other than the local one according to the regulations set by FEMA.
There are several investment options for NRI in India like the ones for Indian residents, some of those options are:
Invest in the best mutual funds recommended by Scripbox that are algorithmically selected that best suit your needs.