Equity-oriented fund
Regulation & taxThe income-tax law's own class of fund — broadly one investing at least sixty-five per cent of its proceeds in equity shares of domestic companies listed on a recognised stock exchange, measured as an annual average of monthly averages.
In plain terms
Three qualifiers each eliminate a shelf of products: equity shares, of domestic companies, listed. A fund can be entirely invested in equity and fail on any one of them. The class, not the fund's name or its exposure, decides the qualifying period, the rate and the annual exemption.