Life cycle funds in India
6 live funds in the Life Cycle category, ordered by 5-year return, highest first. Funds younger than five years follow by name. Returns are for the plan each fund's page leads with, Direct where the fund has one, to each fund's latest NAV, the newest of them on 29 Oct 2026; 3 and 5 year returns are a year, compounded.
Life Cycle funds
Size is the average money the fund managed over its latest quarter. Cost is its yearly expense ratio.Filter them in the screener
ICICI Prudential Life Cycle Fund 2031ICICI Prudential Mutual FundNAV₹9.46081Y–3Y–5Y–Size₹8 CrCost3.67%- ICICI Prudential Life Cycle Fund 2036ICICI Prudential Mutual FundNAV₹9.77701Y–3Y–5Y–Size₹5 CrCost2.43%
- ICICI Prudential Life Cycle Fund 2041ICICI Prudential Mutual FundNAV₹9.68691Y–3Y–5Y–Size₹9 CrCost1.99%
Zerodha Life Cycle Fund 2031Zerodha Mutual FundNAV₹9.76141Y–3Y–5Y–Size₹2 CrCost2.98%- Zerodha Life Cycle Fund 2036Zerodha Mutual FundNAV₹9.44991Y–3Y–5Y–Size₹16 CrCost1.02%
- Zerodha Life Cycle Fund 2041Zerodha Mutual FundNAV₹9.37481Y–3Y–5Y–Size₹15 CrCost1.14%
Tax on life cycle funds
Tax depends on the fund's own mix. With 65% or more in shares of listed Indian companies, gains on units held over 12 months are taxed at 12.5% above ₹1.25 lakh a year, and gains on units held 12 months or less at 20%; with more than 65% in debt and money market instruments, gains on units bought on or after 1 Apr 2023 are taxed at the income tax slab rate however long they are held, and on units bought earlier at 12.5% after 24 months; otherwise, gains on units held over 24 months are taxed at 12.5%, and gains on units held 24 months or less at the income tax slab rate.
Rules in force from 1 Apr 2025, checked 27 Oct 2026. Surcharge and cess are not included.
About life cycle funds in India
Life cycle funds in India are open-ended mutual funds with a fixed maturity year and a glide path: a preset plan that cuts the share of equity step by step as that year nears. SEBI created the category on 26 Feb 2026. The maturity year sits in the name, as in Life Cycle Fund 2041.
What SEBI requires
SEBI describes the category as an open-ended fund with a pre-determined maturity and a glide path for goal-based investing. It may hold equity, debt, InvITs (trusts that own income-earning infrastructure), gold and silver ETFs, and commodity derivatives based only on gold or silver.
Tenure runs from 5 to 30 years in multiples of 5. A fund house may keep at most 6 such funds open for subscription at once. Benchmarks follow the framework for multi asset allocation funds.
The glide path
Equity may be 65% to 95% with 15 to 30 years left, 65% to 80% at 10 to 15 years, 50% to 65% at 5 to 10 years, 35% to 50% at 3 to 5 years, 20% to 35% at 1 to 3 years and 5% to 20% in the last year. A shorter fund starts in the band that matches its length: a 10-year fund starts at 50% to 65%.
Debt is 5% to 25% early, 25% to 50% at 3 to 5 years and 25% to 65% in the last three years, when it must be rated AA or above and mature before the fund does. Gold, silver and InvITs together may reach 10% throughout. With under 10 years left, a fund may add equity arbitrage (buying a share and selling its future to lock a small gap) of up to 50% on top of its equity band, keeping total equity and equity-related holdings within 65% to 75%.
Exit load and merger
Exit load is a fee charged when units are sold early. SEBI sets 3% on an exit within one year of investment, 2% within two years and 1% within three years. A fund with under 1 year left may be merged into the life cycle fund with the nearest maturity, if unitholders consent.
Other goal-based funds
A multi asset allocation fund holds at least three asset classes, at least 10% in each, with no calendar date. A life cycle fund's equity range is set by the years left, so it falls as the date nears whatever the market does.
A fund house that keeps its Children's Fund may not launch the 20-year life cycle fund, and one that keeps its Retirement Fund may not launch the 30-year one.
What this page shows
The first life cycle funds opened in 2026, so the page shows a dash in each return column until a fund has that much history, and lists such funds by name.